The global wide-bandgap power semiconductor devices market is expected to reach USD 3.36 Billion by 2028, according to a new report by Reports and Data. Wide bandgap semiconductors are those which have a wide bandgap between the valence band and the conduction band. With wide bandgap semiconductor devices play a significant role in achieving high efficiency in high power density devices. These semiconductors have approximately ten fold better conduction capability and switching property than silicon-based semiconductors. Wide bandgap materials are inherently suitable for power electronic devices that provide fast response, and are comparatively smaller and more efficient, with capacity to endure higher input voltages and higher temperatures than their silicon-based counterparts. These characteristics, along with better longevity and greater reliability, place wide bandgap power semiconductor devices as main drivers for key emerging applications like hybrid electric automobiles and renewable energy generation and hence, stimulate the market demand. These devices also play a crucial role in enhancing the efficiency of existing applications.
As wide bandgap semiconductor power devices are light weight, easy to maintain, provide enhanced control with fault detection capability, these devices are intensively used in field of defense and aeronautics especially in applications like RADAR, SONAR, unmanned aerial vehicles, and unmanned underwater vehicles use intensive processing that generates an enormous quantity of heat and as a result want high performance and durable devices to function efficiently and provide the desired output. The above mentioned uses of WBG power semiconductor devices would further boost the market demand.
High cost involved in the production of wide bandgap power semiconductor devices would result in higher price of such devices in comparison to silicon based semiconductor devices and thus may act as a restraining factor for this market.
Asia Pacific is projected to be the main revenue generating region throughout the forecast period. The market is projected to grow at a CAGR of 23.1% in the forecast period and occupies a market share of around 44% in the year 2020. This can be attributed to factors such as the surging deployment of the uninterrupted power supply devices in the significantly increasing number of data centers in the region and huge investments made in advancement of high signal processing equipment particularly in military and aviation industry. The implementation for wide-bandgap power semiconductor devices in this region is highly likely to surge during the forecast period.
Key participants include Transphorm, Infineon Technologies, Texas Instruments, GaN Systems, ST Microelectronics, Microsemi, Genesic Semiconductors, United Silicon Carbide, Exagon, and Monolith Semiconductor.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Wide-Bandgap (WBG) Power Semiconductor Devices Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Wide-Bandgap (WBG) Power Semiconductor Devices Market.
Further key findings from the report suggest
- Silicon Carbide occupies the largest market share in the year 2020 registering a growth rate of CAGR 22.9% during the forecast period.
- Silicon Carbide is more cost-intensive to manufacture than the silicon counterparts and thus has led to the development of cost-effective manufacturing of Gallium Nitride for use wide bandgap power semiconductor devices. GaN is projected to grow at highest growth rate of 23.3% during the forecast period.
- The market for wide bandgap semiconductors in uninterrupted power supply applications occupies the largest market share comprising 40% of the market with a growth rate of CAGR 22.9% during the forecast period. An Uninterruptible Power Supply finds application to safeguard important devices from mains supply issues, including spikes, voltage drops and fluctuations as well as total power failures using a dedicated battery unit. A UPS system may also be used to bridge the power gap while a standby generator is started and synchronized. These applications of UPS is expected create a surge in demand and in turn, will the demand for wide bandgap power semiconductor devices.
- Asia Pacific is projected to be the main revenue generating region throughout the forecast period. The market is projected to grow at a CAGR of 23.1% in the forecast period and occupies a market share of around 44% in the year 2020. This can be attributed to factors such as the surging deployment of the uninterrupted power supply devices in the significantly increasing number of data centers in the region and huge investments made in advancement of high signal processing equipment particularly in military and aviation industry. The implementation for wide-bandgap power semiconductor devices in this region is highly likely to surge during the forecast period.
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For the purpose of this report, Reports and Data have segmented global wide bandgap power semiconductor devices market on the basis of type, application and region:
Type Outlook (Revenue, USD Million; 2020-2028)
- Silicon Carbide (SiC)
- Diamond Substrate
- Gallium Nitride (GaN)
- Zinc Oxide (ZnO)
Application Outlook (Revenue, USD Million; 2020-2028)
- Renewable Energy
- Industrial Motor Drives
- Uninterrupted Power Supply
- Power Factor Correction
Regional Outlook (Revenue, USD Million; 2020-2028)
- North America
- Asia Pacific
- Latin America
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Key Advantages of Wide-Bandgap (WBG) Power Semiconductor Devices Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Wide-Bandgap (WBG) Power Semiconductor Devices industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Wide-Bandgap (WBG) Power Semiconductor Devices Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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