Increasing production of hybrid electric vehicles and electric vehicles globally is fueling the demand for power semiconductor devices such as SiC and GaN. Also, the growing use of mobile devices is contributing to the demand for SiC & GaN power semiconductor. With the increasing use of SiC, SiC metal-oxide semiconductor field-effect transistors (MOSFET) have gained immense popularity among manufacturers. Meanwhile, GaN-on-silicon (GaN-on-Si) devices are also anticipated to witness growth in the coming years. GaN semiconductor devices are also witnessing increasing application in automotive, information and communication technology, consumer electronics and medical. Also, the advancement in semiconductor and power electronics is helping companies to improve power management and battery capacity.
As per the report by Fact.MR, the global SiC & GaN power semiconductor market is expected to witness robust growth, increasing at a CAGR of 24.7%. The global SiC & GaN power semiconductor market is also projected to reach US$ 2,986.3 million revenue by the end of 2026. Increasing adoption of mobile devices and other electronic devices is driving the need of semiconductors, this, in turn, is resulting in the increasing use of SiC & GaN to power semiconductor devices and at the same time offering various advantages. Following are the insights showing how the global SiC & GaN power semiconductor market will perform in the coming years.
5 Forecast Highlights on Global SiC & GaN Power Semiconductor Market
The report also offers information on the leading players in the global market for SiC & GaN power semiconductor, which will remain active through 2026. These include companies such as 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., Raytheon Company, STMicroelectronics N.V., United Silicon Carbide Inc., Vincotech GmbH, Avogy, Inc., Cambridge Electronics, Exagan S.A.S, GaN Systems Inc., NXP Semiconductors N.V., Panasonic Corporation, and VisIC Technologies Ltd.