GaN & SiC Power Semiconductor Market worth $15 Bn by 2032

GaN & SiC power semiconductor market size is anticipated to exceed USD 15 billion by 2032, according to the latest research report by Global Market Insights Inc.
 

The advancement of hyperscale data centers will proliferate GaN and SiC power semiconductor production. In data centers, power modules can optimize energy consumption and improve electrical stability. These attributes may contribute to their increased usage in UPS, cabling infrastructure, generators, and power distribution units in data centers. The COVID-19 pandemic has also accelerated the adoption of cloud computing, driving the progress of data centers along with the consumption of power semiconductor components.
 

High electric field delivery to drive use of discrete GaN devices in power semiconductors

The GaN & SiC power semiconductor market value from the discrete GaN product type will be over USD 3 billion by 2032. As compared to silicon, this product can improve the performance of power semiconductor devices through the delivery of high electric fields and other key attributes. It also can offer small capacitance than the conventional silicon MOSFET counterparts. These features will promote the adoption of GaN high electron mobility transistors for high-speed switching applications.
 

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Rapid development of fast chargers for power supply applications

The industry share from the power supplies application segment is poised to depict around 25% CAGR through 2032. The rise in demand for smart home appliances, smartphone chargers, desktops, and other high-power consumer devices is one of the major growth drivers. Since rapid charging is vital in boosting consumer confidence, smartphone markers have enhanced the manufacturing of fast chargers. This factor will, in consequence, proliferate the deployment of SiC and GaN power semiconductor devices for these purposes.
 

The GaN & SiC power semiconductor market value from the industrial motor drives sector worth USD 30 million in 2022, given the requirement for high input voltages in these drives for seamless operation. As per data from the U.S. DOE, industrial motors utilize 16% of the power consumed in the country. Due to high switching frequencies, GaN and SiC power devices can reduce energy losses, further contributing to product deployment in industrial motor drive industry.
 

Browse key industry insights spread across 170 pages with 160 market data tables and 31 figures & charts from the report “GaN & SiC Power Semiconductor Market Size By Product (Silicon Carbide (SiC) Power Module, Gallium Nitride (GaN) Power Module, Discrete SiC, Discrete GaN), By Application (Power Supplies, Industrial Motor Drives, Hybrid/Electric Vehicle (H/EV), Photovoltaic (PV) Inverters, Traction), COVID19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/gan-and-sic-power-semiconductor-market
 

MEA to become a prominent consumer hub for industry manufacturers

The Middle East and Africa GaN & SiC power semiconductor market is set to attain nearly 15% gains through 2032. This is credited to the growing investment to modernize infrastructure in the oil and gas sector. Over the years, the deployment of automation and control solutions in oil and gas, mining, and construction has been rising. Additionally, the implementation of industry 4.0 in the manufacturing sector will influence the use of automation systems powered by GaN & SiC devices, adding impetus to regional growth.
 

Product innovation investments by players to strengthen the business outlook

The competitive industry landscape is inclusive of participants such as Renesas Electronics Corporation, Sensitron Semiconductor, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Fuji Electric Co., Ltd., ROHM CO., LTD., STMicroelectronics N.V., Vishay Intertechnology, and Wolfspeed, among other companies. These firms are focusing on product innovations to gain a competitive advantage between the rivals in the global  GaN & SiC power semiconductor market scenario.