GaN and SiC Power Semiconductor Market was valued at USD 3.00 Billion in 2022 and is projected to reach USD 10.50 Billion by 2030, growing at a CAGR of 17.6% from 2024 to 2030.
The global GaN (Gallium Nitride) and SiC (Silicon Carbide) power semiconductor market exhibited significant growth in 2022. The market size for GaN power semiconductors was approximately USD 2.3 billion, while SiC power semiconductors reached around USD 3.1 billion. The compound annual growth rate (CAGR) for GaN power semiconductors was estimated at 24.2% from 2022 to 2030, driven by increasing demand for high-efficiency devices in sectors such as consumer electronics and automotive. Meanwhile, SiC power semiconductors saw a CAGR of 20.6% over the same period, spurred by rising applications in electric vehicles, renewable energy systems, and industrial automation.
Emerging markets present substantial opportunities for growth in the GaN and SiC power semiconductor sectors. Regions such as Asia-Pacific and Latin America are experiencing rapid industrialization and increasing investments in renewable energy infrastructure, which are expected to drive demand for high-performance power semiconductor technologies. Additionally, advancements in automotive electrification and smart grid technologies further bolster the growth prospects in these regions. The expansion of these markets offers promising avenues for companies seeking to capitalize on the evolving landscape of power semiconductors, with a focus on enhancing energy efficiency and performance across various applications.
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Mitsubishi Electric Corporation
Infineon Technologies AG
ROHM Semiconductor
NXP Semiconductors
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 Global GaN and SiC Power Semiconductor Market
Power supplies
Industrial motor drives
PV inverters
Traction
Based on Types the Market is categorized into Below types that held the largest GaN and SiC Power Semiconductor market share In 2023.
SiC Power Module
GaN Power Module
Discrete SiC
Discrete GaN
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global GaN and SiC Power Semiconductor 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. Global GaN and SiC Power Semiconductor Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global GaN and SiC Power Semiconductor Market, By Type
6. Global GaN and SiC Power Semiconductor Market, By Application
7. Global GaN and SiC Power Semiconductor Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global GaN and SiC Power Semiconductor Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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