GaN & SiC Power Semiconductor Market Analysis

GaN & SiC Power Semiconductor Market Analysis

The discrete SiC product segment is anticipated to attain over 20% gains through 2032. The product’s ability to withstand high temperatures is promoting discrete SiC semiconductor use in power electronic cooling systems. The high preference for this semiconductor in electric vehicle inverter applications will thus bolster the market outlook by 2032.

GaN & SiC power semiconductor market revenues from the hybrid/electric vehicle segment will reach USD 3 billion by 2032. The advancement of automotive technologies and the strong awareness of the detriments of vehicle emissions are key reasons for the integration of SiC and GaN semiconductors. As the high operating temperature attribute can help reduce the requirements of cooling systems, the component demand will surge in hybrid-electric and full-electric vehicles.
 

The Europe GaN & SiC power semiconductor market size is slated to witness 20% growth rate through 2032, considering the popularity of robotics and rapid factory automation. For example, in October 2021, OMRON’s automation center in Europe received a redesign. This updated center was intended to allow customers to experience the benefits of an automated and intelligent factory. To gain a competitive advantage, OEMs have also been targeting to modernize facilities through the integration of industrial robots, augmenting the utilization of GaN and SiC power semiconductors in the region.
 

Asia Pacific held nearly 40% of the market share in 2022, on account of the strong demand for power supply equipment in countries such as China and India. Rapid innovation in automotive electronics is also emerging as a key trend. These factors are anticipated to promote the supply of power semiconductors for automotive electronics applications in the region.