The GaN And SiC power semiconductor market size has grown exponentially in recent years. It will grow from $1.42 billion in 2024 to $1.71 billion in 2025 at a compound annual growth rate (CAGR) of 20.3%. The growth in the historic period can be attributed to energy efficiency demands, industry demand for high-power applications, miniaturization and higher frequencies, temperature and voltage handling, cost competitiveness over time.
The GaN And SiC power semiconductor market size is expected to see rapid growth in the next few years. It will grow to $3.43 billion in 2029 at a compound annual growth rate (CAGR) of 19.1%. The growth in the forecast period can be attributed to increasing demand for electric vehicles, renewable energy expansion, 5g and telecommunications expansion, industrial automation and iot, rising consumer electronics market. Major trends in the forecast period include increased adoption in automotive, environmental sustainability, increased focus on energy efficiency, miniaturization and high-frequency operation, advancements in consumer electronics.
The increasing adoption of electric vehicles is anticipated to drive the growth of the GaN and SiC power semiconductor market in the future. An electric vehicle is defined as a vehicle powered by an electric motor that draws energy from a rechargeable battery. Gallium nitride power semiconductors are utilized in electric vehicles for high-efficiency power transistors and integrated circuits. SiC power semiconductors offer several advantages over silicon, such as a breakdown electric field strength that is 10 times greater and a band gap that is 3 times wider, making them suitable for electric vehicles. For example, in June 2024, a report by the International Energy Agency (IEA), a France-based intergovernmental organization, noted that energy efficiency investments increased by 16% to USD 600 billion in 2022, spurred by government stimulus programs. Global heat pump sales also rose over 10%, with nearly 40% growth in Europe, while electric vehicles represented 14% of global car sales, with projections to reach 18% in 2023. Consequently, the rising penetration of electric vehicles is fueling demand for the GaN and SiC power semiconductor market.
The rapid and extensive deployment of renewable energy sources is anticipated to be a significant driver for the growth of the GaN and SiC power semiconductor market. This deployment involves harnessing energy from sources such as solar, wind, hydropower, and geothermal energy to generate electricity. GaN and SiC semiconductors stand out due to their higher efficiency, facilitating the seamless integration of renewable energy into the power grid. Supporting this, a report from the National Renewable Energy Laboratory in April 2023 highlights global photovoltaic installations reaching 231 gigawatts in 2022, with China leading the surge, contributing 42% to global demand and forecasting installations exceeding 300 GW by 2023 and surpassing 400 GW by 2025.
A prominent trend in the GaN and SiC power semiconductor market is the focus on technological advancements, with key industry players striving to develop cutting-edge solutions. Notably, in May 2022, Infineon Technologies, a prominent German semiconductor manufacturing company, unveiled its extended CoolSiC portfolio. This advanced silicon carbide (SiC) chip, featuring high-voltage solutions, is positioned as the foundation for the next generation. The technology introduces a low drain-source on resistance and offers ten times less FIT rate from cosmic rays compared to 1700 V SiC MOSFETs. Additionally, it provides an overvoltage tolerance, simplifying operation due to the wide functioning gate voltage range.
Major players within the GaN and SiC power semiconductor market are strategically focusing on innovative offerings, such as the groundbreaking G10-GaN, to enhance revenue streams. A notable example is Aixtron SE, a Germany-based technology company, which introduced the G10-GaN platform in September 2023. This revolutionary cluster solution is tailored for the high-volume production of GaN-based power and radiofrequency devices. The G10-GaN system aims to deliver twice the productivity per cleanroom area, ushering in a new level of material uniformity that provides customers with distinct competitive advantages. Designed to foster the growth of the GaN industry, the system facilitates the manufacturing of power chips utilizing various technologies, including GaN-on-Si and GaN-on-SOI, with voltage ratings spanning from 40V to 1200V.
In October 2023, Infineon Technologies AG, a leading German semiconductor manufacturer, completed the acquisition of GaN Systems Inc. for a significant $830 million. This acquisition marks a substantial leap in Infineon's GaN roadmap, solidifying its position as a prominent player in the GaN landscape. By integrating GaN Systems Inc., a Canada-based company specializing in gallium nitride (GaN) power semiconductors, Infineon gains access to an extensive array of GaN-based power conversion technologies and cutting-edge application expertise. This strategic move not only reinforces Infineon's standing as an industry leader in power semiconductors but also accelerates time-to-market for innovative solutions.
Major companies operating in the GaN And SiC power semiconductor market include NXP Semiconductors N.V., Alpha & Omega Semiconductor Limited, Fuji Electric Systems Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Incorporated, Mitsubishi Electric Corporation, Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics N.V., Transphorm Inc., GeneSiC Semiconductor Inc., Wolfspeed Inc., VisIC Technologies Ltd., Panasonic Holdings Corporation, GaN Systems Inc., SEMIKRON International GmbH, Sanken Electric Co. Ltd., Epiluvac AB, IQE Plc, SweGaN AB, ON Semiconductor Corporation, Efficient Power Conversion Corporation, Navitas Semiconductor Corporation, Power Integrations Inc., Resonac Co. Ltd., SICC Semiconductor Corporation, Sumitomo Electric Industries Ltd., Showa Denko K.K.
Asia-Pacific was the largest region in the GaN and SiC power semiconductor market in 2024. The regions covered in the gan and sic power semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gan and sic power semiconductor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
GaN (Gallium Nitride) and SiC (Silicon Carbide) power semiconductors are types of semiconductors composed differently from silicon, with SiC being a composite of silicon and carbon, and GaN being a compound of gallium and nitrogen. Moreover, SiC and GaN possess wider bandgaps compared to silicon.
The primary products within the GaN and SiC power semiconductor category comprise SiC power modules, GaN power modules, discrete SiC components, and discrete GaN components. SiC power modules are specifically designed with silicon carbide semiconductors as switches. These components find application across various sectors, including power supplies, industrial motor drives, hybrid or electric vehicles (H/EVs), photovoltaic inverters, traction systems, among others, and are distributed through both direct and indirect channels in the market.
The GaN and SiC power semiconductors market research report is one of a series of new reports that provides GaN and SiC power semiconductors market statistics, including GaN and SiC power semiconductors industry global market size, regional shares, competitors with a GaN and SiC power semiconductors market share, detailed GaN and SiC power semiconductors market segments, market trends and opportunities, and any further data you may need to thrive in the GaN and SiC power semiconductors industry. This GaN and SiC power semiconductors market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
GaN and SiC power semiconductor market consists of sales of GaN and SiC power semiconductors made with RF components, and light-emitting diodes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The GaN And SiC power semiconductor market size is expected to see rapid growth in the next few years. It will grow to $3.43 billion in 2029 at a compound annual growth rate (CAGR) of 19.1%. The growth in the forecast period can be attributed to increasing demand for electric vehicles, renewable energy expansion, 5g and telecommunications expansion, industrial automation and iot, rising consumer electronics market. Major trends in the forecast period include increased adoption in automotive, environmental sustainability, increased focus on energy efficiency, miniaturization and high-frequency operation, advancements in consumer electronics.
The increasing adoption of electric vehicles is anticipated to drive the growth of the GaN and SiC power semiconductor market in the future. An electric vehicle is defined as a vehicle powered by an electric motor that draws energy from a rechargeable battery. Gallium nitride power semiconductors are utilized in electric vehicles for high-efficiency power transistors and integrated circuits. SiC power semiconductors offer several advantages over silicon, such as a breakdown electric field strength that is 10 times greater and a band gap that is 3 times wider, making them suitable for electric vehicles. For example, in June 2024, a report by the International Energy Agency (IEA), a France-based intergovernmental organization, noted that energy efficiency investments increased by 16% to USD 600 billion in 2022, spurred by government stimulus programs. Global heat pump sales also rose over 10%, with nearly 40% growth in Europe, while electric vehicles represented 14% of global car sales, with projections to reach 18% in 2023. Consequently, the rising penetration of electric vehicles is fueling demand for the GaN and SiC power semiconductor market.
The rapid and extensive deployment of renewable energy sources is anticipated to be a significant driver for the growth of the GaN and SiC power semiconductor market. This deployment involves harnessing energy from sources such as solar, wind, hydropower, and geothermal energy to generate electricity. GaN and SiC semiconductors stand out due to their higher efficiency, facilitating the seamless integration of renewable energy into the power grid. Supporting this, a report from the National Renewable Energy Laboratory in April 2023 highlights global photovoltaic installations reaching 231 gigawatts in 2022, with China leading the surge, contributing 42% to global demand and forecasting installations exceeding 300 GW by 2023 and surpassing 400 GW by 2025.
A prominent trend in the GaN and SiC power semiconductor market is the focus on technological advancements, with key industry players striving to develop cutting-edge solutions. Notably, in May 2022, Infineon Technologies, a prominent German semiconductor manufacturing company, unveiled its extended CoolSiC portfolio. This advanced silicon carbide (SiC) chip, featuring high-voltage solutions, is positioned as the foundation for the next generation. The technology introduces a low drain-source on resistance and offers ten times less FIT rate from cosmic rays compared to 1700 V SiC MOSFETs. Additionally, it provides an overvoltage tolerance, simplifying operation due to the wide functioning gate voltage range.
Major players within the GaN and SiC power semiconductor market are strategically focusing on innovative offerings, such as the groundbreaking G10-GaN, to enhance revenue streams. A notable example is Aixtron SE, a Germany-based technology company, which introduced the G10-GaN platform in September 2023. This revolutionary cluster solution is tailored for the high-volume production of GaN-based power and radiofrequency devices. The G10-GaN system aims to deliver twice the productivity per cleanroom area, ushering in a new level of material uniformity that provides customers with distinct competitive advantages. Designed to foster the growth of the GaN industry, the system facilitates the manufacturing of power chips utilizing various technologies, including GaN-on-Si and GaN-on-SOI, with voltage ratings spanning from 40V to 1200V.
In October 2023, Infineon Technologies AG, a leading German semiconductor manufacturer, completed the acquisition of GaN Systems Inc. for a significant $830 million. This acquisition marks a substantial leap in Infineon's GaN roadmap, solidifying its position as a prominent player in the GaN landscape. By integrating GaN Systems Inc., a Canada-based company specializing in gallium nitride (GaN) power semiconductors, Infineon gains access to an extensive array of GaN-based power conversion technologies and cutting-edge application expertise. This strategic move not only reinforces Infineon's standing as an industry leader in power semiconductors but also accelerates time-to-market for innovative solutions.
Major companies operating in the GaN And SiC power semiconductor market include NXP Semiconductors N.V., Alpha & Omega Semiconductor Limited, Fuji Electric Systems Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Incorporated, Mitsubishi Electric Corporation, Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics N.V., Transphorm Inc., GeneSiC Semiconductor Inc., Wolfspeed Inc., VisIC Technologies Ltd., Panasonic Holdings Corporation, GaN Systems Inc., SEMIKRON International GmbH, Sanken Electric Co. Ltd., Epiluvac AB, IQE Plc, SweGaN AB, ON Semiconductor Corporation, Efficient Power Conversion Corporation, Navitas Semiconductor Corporation, Power Integrations Inc., Resonac Co. Ltd., SICC Semiconductor Corporation, Sumitomo Electric Industries Ltd., Showa Denko K.K.
Asia-Pacific was the largest region in the GaN and SiC power semiconductor market in 2024. The regions covered in the gan and sic power semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gan and sic power semiconductor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
GaN (Gallium Nitride) and SiC (Silicon Carbide) power semiconductors are types of semiconductors composed differently from silicon, with SiC being a composite of silicon and carbon, and GaN being a compound of gallium and nitrogen. Moreover, SiC and GaN possess wider bandgaps compared to silicon.
The primary products within the GaN and SiC power semiconductor category comprise SiC power modules, GaN power modules, discrete SiC components, and discrete GaN components. SiC power modules are specifically designed with silicon carbide semiconductors as switches. These components find application across various sectors, including power supplies, industrial motor drives, hybrid or electric vehicles (H/EVs), photovoltaic inverters, traction systems, among others, and are distributed through both direct and indirect channels in the market.
The GaN and SiC power semiconductors market research report is one of a series of new reports that provides GaN and SiC power semiconductors market statistics, including GaN and SiC power semiconductors industry global market size, regional shares, competitors with a GaN and SiC power semiconductors market share, detailed GaN and SiC power semiconductors market segments, market trends and opportunities, and any further data you may need to thrive in the GaN and SiC power semiconductors industry. This GaN and SiC power semiconductors market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
GaN and SiC power semiconductor market consists of sales of GaN and SiC power semiconductors made with RF components, and light-emitting diodes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. GaN and SiC Power Semiconductor Market Characteristics3. GaN and SiC Power Semiconductor Market Trends and Strategies4. GaN and SiC Power Semiconductor Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global GaN and SiC Power Semiconductor Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the GaN and SiC Power Semiconductor Market34. Recent Developments in the GaN and SiC Power Semiconductor Market
5. Global GaN and SiC Power Semiconductor Growth Analysis and Strategic Analysis Framework
6. GaN and SiC Power Semiconductor Market Segmentation
7. GaN and SiC Power Semiconductor Market Regional and Country Analysis
8. Asia-Pacific GaN and SiC Power Semiconductor Market
9. China GaN and SiC Power Semiconductor Market
10. India GaN and SiC Power Semiconductor Market
11. Japan GaN and SiC Power Semiconductor Market
12. Australia GaN and SiC Power Semiconductor Market
13. Indonesia GaN and SiC Power Semiconductor Market
14. South Korea GaN and SiC Power Semiconductor Market
15. Western Europe GaN and SiC Power Semiconductor Market
16. UK GaN and SiC Power Semiconductor Market
17. Germany GaN and SiC Power Semiconductor Market
18. France GaN and SiC Power Semiconductor Market
19. Italy GaN and SiC Power Semiconductor Market
20. Spain GaN and SiC Power Semiconductor Market
21. Eastern Europe GaN and SiC Power Semiconductor Market
22. Russia GaN and SiC Power Semiconductor Market
23. North America GaN and SiC Power Semiconductor Market
24. USA GaN and SiC Power Semiconductor Market
25. Canada GaN and SiC Power Semiconductor Market
26. South America GaN and SiC Power Semiconductor Market
27. Brazil GaN and SiC Power Semiconductor Market
28. Middle East GaN and SiC Power Semiconductor Market
29. Africa GaN and SiC Power Semiconductor Market
30. GaN and SiC Power Semiconductor Market Competitive Landscape and Company Profiles
31. GaN and SiC Power Semiconductor Market Other Major and Innovative Companies
35. GaN and SiC Power Semiconductor Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
GaN and SiC Power Semiconductor Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on gan and sic power semiconductor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for gan and sic power semiconductor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gan and sic power semiconductor market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- the market characteristics section of the report defines and explains the market.
- the market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- the forecasts are made after considering the major factors currently impacting the market. These include:
- the forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- the regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- the competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- the trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Product: SiC Power Module; GaN Power Module; Discrete SiC; Discrete GaN2) by Application: Power Supplies; Industry Motor Drives; Hybrid or Electric Vehicles (H or EVs); Photovoltaic Inverters; Traction; Other Applications
3) by Distribution Channel: Direct; Indirect
Subsegments:
1) by SiC Power Module: Half-Bridge Modules; Full-Bridge Modules; Multilevel Modules2) by GaN Power Module: Integrated Power Modules; High-Frequency Modules
3) by Discrete SiC: SiC MOSFETs; SiC Schottky Diodes; SiC JFETs
4) by Discrete GaN: GaN HEMTs; GaN FETs
Key Companies Mentioned: NXP Semiconductors N.V.; Alpha & Omega Semiconductor Limited; Fuji Electric Systems Co. Ltd.; Infineon Technologies AG; Littelfuse Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this GaN and SiC Power Semiconductor market report include:- NXP Semiconductors N.V.
- Alpha & Omega Semiconductor Limited
- Fuji Electric Systems Co. Ltd.
- Infineon Technologies AG
- Littelfuse Inc.
- Microchip Technology Incorporated
- Mitsubishi Electric Corporation
- Renesas Electronics Corporation
- ROHM Co. Ltd.
- STMicroelectronics N.V.
- Transphorm Inc.
- GeneSiC Semiconductor Inc.
- Wolfspeed Inc.
- VisIC Technologies Ltd.
- Panasonic Holdings Corporation
- GaN Systems Inc.
- SEMIKRON International GmbH
- Sanken Electric Co. Ltd.
- Epiluvac AB
- IQE Plc
- SweGaN AB
- ON Semiconductor Corporation
- Efficient Power Conversion Corporation
- Navitas Semiconductor Corporation
- Power Integrations Inc.
- Resonac Co. Ltd.
- SICC Semiconductor Corporation
- Sumitomo Electric Industries Ltd.
- Showa Denko K.K.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 1.71 Billion |
| Forecasted Market Value ( USD | $ 3.43 Billion |
| Compound Annual Growth Rate | 19.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
