Home > Semiconductors & Electronics > Semiconductor > Wide Bandgap Semiconductors Market

Wide Bandgap Semiconductors Market Trends

  • Report ID: GMI11705
  • Published Date: Oct 2024
  • Report Format: PDF

Wide Bandgap Semiconductors Market Trends

The wide bandgap (WBG) semiconductors market is driven by the rising demand for high-efficiency power electronics, particularly in sectors such as EVs, renewable energy, and telecommunications. GaN and SiC are the key materials gaining traction, with SiC being particularly favored for high-voltage applications such as EV inverters and fast chargers. GaN is making waves in lower-voltage power supplies and 5G base stations due to its efficiency in high-frequency switching. This shift toward WBG semiconductors is crucial as industries focus. In addition, advancements in substrate manufacturing and wafer quality are reducing costs and improving performance, making WBG semiconductors more accessible to mass-market applications. This rapid expansion positions WBG semiconductors as a critical technology in the global push for energy-efficient electronics.
 

WBG semiconductors are essential for power electronics in renewable energy systems, such as solar inverters and wind turbines, due to their ability to handle high voltages and improve energy conversion efficiency. As global efforts to reduce carbon emissions intensify and investments in renewable energy increase, the WBG semiconductor market is benefiting from its ability to optimize power generation and transmission. The global push for energy efficiency is a major driver for the WBG semiconductors market. WBG materials offer lower energy losses during power conversion, making them critical in energy-sensitive applications. As industries and governments prioritize reducing energy consumption and improving sustainability, WBG semiconductors are becoming a key component in achieving these goals across various sectors.
 

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The global market size for wide bandgap semiconductors was valued at USD 1.94 billion in 2023 and is expected to grow at a CAGR of over 10% from 2024 to 2032, driven by the increasing demand for energy-efficient electronic devices.

The automotive segment is expected to dominate the global market with revenues exceeding USD 1.5 billion by 2032, driven by the growing electric vehicle (EV) industry.

North America accounted for over 35% of the global wide bandgap semiconductors industry in 2023, due to its strong presence in advanced industries such as EVs, aerospace, and renewable energy.

Key players in the market include Infineon Technologies, Rohm, STMicroelectronics, Wolfspeed, Renesas Electronics, Vishay Intertechnology, and Texas Instruments.

Wide Bandgap Semiconductors Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 240
  • Countries covered: 21
  • Pages: 210
 Download Free Sample