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Based on Technavio's market sizing methodology, the wide-bandgap (WBG) power semiconductor devices market size is predicted to surge to USD 4.71 billion from 2021 to 2026 at a CAGR of 35.12%. This wide-bandgap (WBG) power semiconductor devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The wide-bandgap (WBG) power semiconductor devices market report also offers information on several market vendors, including Cree Inc., Fuji Electric Co. Ltd., GaN Systems Inc., GeneSiC Semiconductor Inc., Hitachi Ltd., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Inc., Mitsubishi Chemical Holdings Corp., Nexperia BV, ON Semiconductor Corp., Qorvo Inc., ROHM Co. Ltd., Skyworks Solutions Inc., STMicroelectronics International NV, Texas Instruments Inc., Toshiba Corp., and Transphorm Inc. among others. Furthermore, this report extensively covers wide-bandgap (WBG) power semiconductor devices market segmentation by the following:
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The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the wide-bandgap (WBG) power semiconductor devices market encompasses successful business strategies deployed by the key vendors. The wide-bandgap (WBG) power semiconductor devices market is fragmented and the vendors are deploying growth strategies such as differentiating their products and service offerings through a clear and unique value proposition to compete in the market.
wolfspeed.com - The company offers wide-bandgap power semiconductor such as discrete silicon carbide MOSFETs, discrete silicon carbide schottky diodes, and bare die silicon carbide MOSFETs.
wolfspeed.com - The wolfspeed segment consists of silicon carbide and GaN materials, power devices and RF devices based on wide bandgap semiconductor materials and silicon.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The wide-bandgap (WBG) power semiconductor devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the wide-bandgap (WBG) power semiconductor devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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46% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for wide-bandgap (WBG) power semiconductor devices in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing adoption of UPS and PS products in a growing number of data centers in the region, demand for industrial motor drives due to rapid industrialization, use of PV inverters in solar power plants, and adoption of EVs/HEVs will facilitate the wide-bandgap (WBG) power semiconductor devices market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 led to the imposition of complete lockdowns across countries in the region in 2020. However, in 2021, the regional market started to recover owing to large-scale vaccination drives and the resumption of business operations of end-users in this region. During the forecast period, a rise in demand for WBG power semiconductor devices is expected to foster regional market growth.
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The wide-bandgap (WBG) power semiconductor devices market share growth by the UPS and PS systems segment will be significant during the forecast period. With developments in semiconductor technology, there has been an increasing focus on improving the efficiency of UPS systems. Semiconductors are increasingly being used in PS systems to improve their efficiency. The introduction of WBG power semiconductor devices has radically transformed UPS and PS applications. UPS and PS systems are employed in a wide range of mission-critical applications to provide an efficient and reliable power supply. The disruption of power supply in data centers can lead to huge losses. Thus, the demand for WBG power semiconductor devices is expected to rise with the increase in the need for UPS and PS systems in data centers.
This report provides an accurate prediction of the contribution of all the segments to the growth of the wide-bandgap (WBG) power semiconductor devices market size and actionable market insights on post COVID-19 impact on each segment.
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing demand for high-power density devices is notably driving the wide-bandgap (WBG) power semiconductor devices market growth, although factors such as high cost of WBG power semiconductor devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wide-bandgap (WBG) power semiconductor devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Wide-Bandgap (WBG) Power Semiconductor Devices Market Driver
One of the key factors driving growth in the wide-bandgap (WBG) power semiconductor devices market is the increasing demand for high-power density devices. The focus on achieving higher efficiency in power systems is increasing. WBG semiconductors, such as GaN power semiconductors, can operate at much higher temperatures of up to 500 degree C compared with conventional Si semiconductors. High-power density devices, including EVs/HEVs, IMDs, PV inverters, and UPS and PS systems, primarily use WBG semiconductors. To reduce output losses by handling high temperatures, aircraft and military manufacturers are incorporating SiC and GaN power electronic systems to withstand high voltages and deliver high output. The implementation of GaN devices enables engineers to integrate several high-power modules into a transmitter configuration, incorporating command and control circuitry, power supplies, and thermal management solutions. With the increasing demand for high-power density devices during the forecast period, the need for WBG power semiconductors is expected to increase.
Key Wide-Bandgap (WBG) Power Semiconductor Devices Market Trend
The growing implementation of signal processing applications is a wide-bandgap (WBG) power semiconductor devices market trend that is expected to have a positive impact in the coming years. Intensive signal processing applications, including radio detection and ranging (radar), sound navigation and ranging (SONAR), UAVs, and unmanned underwater vehicles (UUVs), in the aerospace and defense industry, use processing power that generates a tremendous amount of heat. Vendors in the semiconductor industry face a challenge integrating a large number of electronic modules into the same footprint without compromising on the system performance. Customers in the aerospace and defense sector demand durable and high-performance electronics. This is increasing the adoption of SiC and GaN for the development of high-power semiconductors used in radar, SONAR, and unmanned aerial vehicles (UAVs). The growing demand for radar, SONAR, UAVs, and UUVs will accelerate the demand for WBG power semiconductor devices during the forecast period.
Key Wide-Bandgap (WBG) Power Semiconductor Devices Market Challenge
The high cost of WBG power semiconductor devices will be a major challenge for the wide-bandgap (WBG) power semiconductor devices market during the forecast period. The high manufacturing cost is because of the high material and substrate costs of SiC and GaN. Thus, SiC and GaN power semiconductor devices can cost approximately four to five times more than Si devices. This high cost of the substrate material for WBG power semiconductor devices is a major factor hindering the adoption of these devices. However, there has been an increasing focus on developing techniques that facilitate the low-cost manufacturing of WBG power semiconductors. They include the GaN-on-Si technique, where WBG power semiconductors can be manufactured at low costs using Si wafers. However, GaN-on-Si wafers have lower performance characteristics compared with other WBG power semiconductors. This can limit their use in high-performance applications. Such factors are expected to hinder the growth of the market in focus.
This wide-bandgap (WBG) power semiconductor devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global wide-bandgap (WBG) power semiconductor devices market as a part of the global semiconductor equipment market within the global semiconductors and semiconductor equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the wide-bandgap (WBG) power semiconductor devices market during the forecast period.
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Wide-Bandgap (WBG) Power Semiconductor Devices Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 35.12% |
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Market growth 2022-2026 |
$ 4.71 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
29.78 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 46% |
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Key consumer countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Cree Inc., Fuji Electric Co. Ltd., GaN Systems Inc., GeneSiC Semiconductor Inc., Hitachi Ltd., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Inc., Mitsubishi Chemical Holdings Corp., Nexperia BV, ON Semiconductor Corp., Qorvo Inc., ROHM Co. Ltd., Skyworks Solutions Inc., STMicroelectronics International NV, Texas Instruments Inc., Toshiba Corp., and Transphorm Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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