The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising electric vehicle penetration is predicted to stimulate innovation in GaN and SiC power semiconductor manufacturing, propelling the market during the forecast period.

The global GaN and SiC power semiconductor market is expected to grow from $0.98 billion in 2022 to $1.18 billion in 2023 at a compound annual growth rate (CAGR) of 20.0%. The global GaN and SiC power semiconductor market size is expected to grow to $2.45 billion in 2027 at a CAGR of 20.1%.

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Global Gan And Sic Power Semiconductor Market Segments Include:

• By Product: SiC Power Module, GaN Power Module, Discrete SiC, Discrete GaN
• By Application: Power Supplies, Industry Motor Drives, Hybrid/Electric Vehicles (H/EVs), Photovoltaic Inverters, Traction, Other Applications
• By Distribution channel: Direct, Indirect
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global GaN and SiC power semiconductor market in 2021.

Major Market Players in the GaN and SiC power semiconductor market include NXP Semiconductors N.V., Alpha & Omega Semiconductor Limited (AOS), Fuji Electric Systems Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Inc.

Technological breakthroughs are a major trend that is gaining traction in the GaN and SiC power semiconductor markets. To be competitive, major industry players are working on providing technologically improved solutions. For example, Infineon Technologies, a German semiconductor manufacturing business, revealed its expanded CoolSiC portfolio in May 2022, which includes an advanced silicon carbide (SiC) chip with high-voltage solutions that will serve as the foundation for next-generation. The brand-new 2 kV CoolSiC technology provides low drain-source on resistance. When compared to 1700 V SiC MOSFETs, the technique has a tenfold lower FIT rate from cosmic rays and a suitable overvoltage tolerance. Because of the large operating gate voltage range, the devices are straightforward to use.

The GaN and SiC Power Semiconductor Global Market Report 2023  provides a GaN and SiC power semiconductor market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The GaN and SiC power semiconductor market forecast analyzes GaN and SiC power semiconductor market size, GaN and SiC power semiconductor market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A GaN and SiC power semiconductor is a semiconductor that differs from SiC, a silicon-carbon composite, and GaN, a gallium-nitrogen combination. Furthermore, the bandgaps of SiC and GaN are larger than those of silicon.

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