Demand for SiC & GaN Power Semiconductor Rising Due to Increasing Application in Power Supplies: Fact MR
DUBAI--(Korea Newswire) June 25, 2021 -- Increasing production of hybrid electric vehicles and advancement in 5G technology across Asia will spur the silicon carbide (SiC) and gallium nitride (GaN) power semiconductor (PS) market sales, finds a new study by a consulting firm Fact.MR. Companies around China are extensively using silicon carbide for the production of SiC metal-oxide semiconductor field-effect transistors, which will create attractive prospects for the market growth.
According to the study, Asia Pacific excluding Japan’s market is estimated to reach a valuation of US$ 2,200 million during the forecast period. Globally, SiC & GaN power semiconductor market revenues are set to rise at an impressive CAGR of 24.7% between 2017 and 2026. With the rise in adoption of electric vehicles, a sizeable percentage of the demand is likely to be met by China and South Korea.
Key Takeaways from SiC & GaN Power Semiconductor Market Study
· Demand in Asia will be driven by applications in power supplies and hybrid & electric vehicle component
· Technological development across Asia will encourage the SiC & GaN PS manufacturers to strengthen their ties with the Chinese suppliers, owing to a high demand of electric vehicle components
· Japan will witness a significant growth during the forecast period owing to the expansion of 5G infrastructure and surging adoption of mobile devices
· Extensive use of silicon carbide in the production of electric cars’ component across China will spur the sales
· Government initiatives and funding activities aimed at installing solar energy systems in residential sector will bolster the growth across Japan
Demand for SiC and GaN power semiconductor will be strong with an increasing use of silicon carbide in power supplies, power storage and hybrid vehicle components. With many economies in Asia recuperating from the loss due to COVID-19 pandemic, activities are resuming in most sectors. Government’s push on economic recovery will drive the demand for SiC & GaN power semiconductor over the forecast period.
Technological Innovation within SiC Power Modules Key to SIC & GaN PS Demand
Focus on energy efficiency and incorporation of dedicated chipsets and integrated circuits within silicon carbide power modules will bolster the demand in smart energy meters. Also, SiC and GaN power semiconductor devices play a part in enhancing the power density & making the size of passive components compact, which is increasing the usage in PV inverters.
Governments’ focus on increasing the use of renewable energy is increasing the research & development activities for the development of semiconductors devices. Due to the technological advancement in the SiC power modules, demand will also be strong in automotive, information & communication technology, and consumer electronics sector.
Consumer Inclination for Eco-Friendly Solutions Rising
Rising consumer preference for clean electricity is increasing the usage of silicon carbide (SiC) and gallium nitride (GaN) in PV inverters. The Chinese government is pushing the adoption of electric vehicles to curb the pollution. As SiC and GaN are vital sources to power semiconductors devices that are used in electric car components, the demand is expected to rise in the coming years.
As per the Fact.MR’s analysis, consumers in countries such as Japan, China, Vietnam and India are likely to invest heavily in the sustainable products. This trend will strengthen the growth in the coming years.
According to the study, due to the high demand power conductors within residential and commercial sectors, discrete GaN power semiconductors is expected to gain traction due to its cost-effectiveness and wide band gap. Demand within the consumer electronics sector for SiC power devices used in mobile devices will spur the sales.
Some of the leading SIC & GaN PS manufacturers and SiC & GaN PS companies profiled by Fact.MR in its report include Infineon Technologies, Fairchild Semiconductor, Fuji Electric Systems Co., Ltd, Global Power Technologies Group, ROHM Semiconductor, Wolfspeed, Inc., Microsemi Corporation, Danfoss A/S, SEMIKRON International GmbH, Renesas Electronics, Alpha & Omega Semiconductor, Transform, Inc., Genesic semiconductor Inc., Monolith Semiconductor Inc.
Key Questions Answered by the Report
· What is the Asia SiC & GaN PS market size and forecast?
· What are leading SiC & GaN PS companies doing in terms of strategy?
· Will SiC & GaN PS market scenario change on account of foray by China-based companies?
· How will demand from Asia’s automotive sector influence SiC & GaN PS sales?
· How will power supplies application change SiC & GaN PS sales in Asia?
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