South Korea Wide Band Gap (WBG) Power Device Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 20.5% from 2024 to 2030.
The South Korea Wide Band Gap (WBG) Power Device Market is witnessing significant growth, driven by the demand for energy-efficient and high-performance power electronics. With technological advancements in electric vehicles (EVs), renewable energy systems, and industrial automation, WBG devices are playing a pivotal role in revolutionizing power electronics. The shift towards WBG materials like silicon carbide (SiC) and gallium nitride (GaN) is being propelled by the need for devices capable of operating at higher voltages, frequencies, and temperatures, all while being more efficient than traditional silicon-based devices.
The adoption of WBG power devices is rapidly increasing across various industries, especially in automotive, industrial, and energy sectors. In South Korea, industries such as electric vehicle manufacturing, renewable energy infrastructure, and industrial machinery are showing a growing appetite for WBG solutions. These industries are demanding devices that not only provide enhanced efficiency but also ensure sustainability and longer lifespans. WBG materials, due to their superior thermal and electrical properties, offer the potential to reduce power loss, increase efficiency, and extend device life, meeting the stringent requirements of modern industrial applications.
Electric vehicles (EVs) have become one of the key drivers of the South Korean WBG power device market. As South Korea accelerates its transition to electric mobility, the demand for efficient, high-performance power electronics has surged. EVs require power devices that can handle higher voltages and enable faster charging while maintaining efficiency over longer operational periods. WBG devices, particularly SiC and GaN, are ideal for these applications due to their ability to handle high power density and temperature variations without degradation.
In the renewable energy sector, South Korea’s push toward clean energy solutions has further fueled the demand for WBG power devices. Wind turbines, solar inverters, and energy storage systems require power devices that can withstand fluctuating conditions and optimize performance. WBG power devices are capable of functioning in harsh environmental conditions, making them highly desirable for these applications.
As industries continue to look for solutions that meet modern energy demands, the South Korea Wide Band Gap (WBG) Power Device Market will continue to expand. The trend of increasing reliance on WBG technology across various sectors will likely set the stage for sustained growth, driven by their superior performance and the need for energy-efficient devices across multiple industrial applications.
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Infineon
Rohm
Mitsubishi
STMicro
Fuji
Toshiba
Microchip Technology
Cree
United Silicon Carbide Inc
GeneSic
Efficient Power Conversion (EPC)
GaN Systems
VisIC Technologies
Transphorm
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Wide Band Gap (WBG) Power Device Market
Silicon Carbide (SiC) Devices
Gallium Nitride (GaN) Devices
Diamond Devices
Other WBG Materials
Electric Vehicles (EVs)
Renewable Energy Systems
Industrial Motor Drives
Consumer Electronics
Telecommunications Infrastructure
Power Conversion
Power Amplification
Voltage Regulation
Signal Processing Applications
Automotive
Telecommunications
Energy & Utilities
Aerospace and Defense
Consumer Electronics
Discrete Devices
Modules
Integrated Circuits (ICs)
Hybrid Solutions
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Wide Band Gap (WBG) Power Device Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Wide Band Gap (WBG) Power Device Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Wide Band Gap (WBG) Power Device Market, By Type
6. South Korea Wide Band Gap (WBG) Power Device Market, By Application
7. South Korea Wide Band Gap (WBG) Power Device Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Wide Band Gap (WBG) Power Device Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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