Executive Summary:

The global wide bandgap semiconductors market is projected to grow at a CAGR of 30.6% from 2021 to 2028. The increasing demand for power electronics, electric vehicles, and renewable energy sources, among others, is driving the growth of the market. Silicon Carbide (SiC) and Gallium Nitride (GaN) are the most common WBG semiconductors being used in various applications.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights:

• The global wide bandgap semiconductors market was valued at USD 1.3 billion in 2020 and is projected to grow at a CAGR of 30.6% from 2021 to 2028.
• The increasing demand for power electronics, electric vehicles, and renewable energy sources, among others, is driving the growth of the market.
• Silicon Carbide (SiC) and Gallium Nitride (GaN) are the most common WBG semiconductors being used in various applications.
• Asia Pacific is the largest market for WBG semiconductors due to the presence of a large number of semiconductor manufacturers in the region.

Market Analysis:

The global wide bandgap semiconductors market is segmented based on material, application, and region.

Based on material, the market is segmented into Silicon Carbide (SiC), Gallium Nitride (GaN), Diamond, and others. Silicon Carbide (SiC) is the most commonly used material in the WBG semiconductors market due to its superior electronic properties.

Based on application, the market is segmented into power electronics, photovoltaics, LED lighting, electric vehicles, and others. Power electronics is the largest application segment for WBG semiconductors due to the increasing demand for high-efficiency power devices.

Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific is the largest market for WBG semiconductors due to the presence of a large number of semiconductor manufacturers in the region.

Market Drivers:

• Increasing demand for power electronics
• Growing adoption of electric vehicles
• Rising demand for renewable energy sources
• Superior electronic properties of WBG semiconductors

Market Restraints:

• High cost of WBG semiconductors as compared to traditional semiconductors
• Lack of standardization in WBG semiconductors

Market Opportunities:

• Growing demand for 5G technology
• Increasing demand for IoT devices
• Emerging applications of WBG semiconductors in aerospace and defense industries

Market Dynamics:

The global wide bandgap semiconductors market is highly competitive and is characterized by the presence of a large number of players. The market is also witnessing several mergers and acquisitions, partnerships, and collaborations among key players to expand their market presence and increase their customer base.

The high cost of WBG semiconductors is a major challenge faced by the market. However, the increasing demand for high-efficiency power devices, electric vehicles, and renewable energy sources is expected to drive the market growth in the coming years.

Regional Analysis:

Asia Pacific is the largest market for WBG semiconductors, followed by North America and Europe. The presence of a large number of semiconductor manufacturers in the region is driving the market growth in Asia Pacific.

Competitive Landscape:

Leading companies in the Wide Bandgap Semiconductors market:

1. Cree, Inc.
2. Infineon Technologies AG
3. ROHM Co., Ltd.
4. STMicroelectronics N.V.
5. Texas Instruments Incorporated
6. NXP Semiconductors N.V.
7. Mitsubishi Electric Corporation
8. GaN Systems Inc.
9. GeneSiC Semiconductor Inc.
10. United Silicon Carbide, Inc.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation:

Based on material:

• Silicon Carbide (SiC)
• Gallium Nitride (GaN)
• Diamond
• Others

Based on application:

• Power electronics
• Photovoltaics
• LED lighting
• Electric vehicles
• Others

Based on region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Category-wise Insights:

• Silicon Carbide (SiC) is the most commonly used material in the WBG semiconductors market due to its superior electronic properties.
• Power electronics is the largest application segment for WBG semiconductors due to the increasing demand for high-efficiency power devices.
• Asia Pacific is the largest market for WBG semiconductors due to the presence of a large number of semiconductor manufacturers in the region.

Key Benefits for Industry Participants and Stakeholders:

• In-depth analysis of the global wide bandgap semiconductors market
• Identification of market trends and key drivers driving the market growth
• Detailed analysis of market segmentation and regional outlook
• Competitive landscape analysis and key players operating in the market
• Strategic recommendations to key players for improving their market presence

SWOT Analysis:

Strengths:

• Superior electronic properties of WBG semiconductors
• Growing adoption of electric vehicles and renewable energy sources
• Increasing demand for high-efficiency power devices

Weaknesses:

• High cost of WBG semiconductors
• Lack of standardization in WBG semiconductors

Opportunities:

• Growing demand for 5G technology and IoT devices
• Emerging applications of WBG semiconductors in aerospace and defense industries

Threats:

• Intense competition among key players
• Regulatory and compliance issues

Market Key Trends:

• Increasing focus on research and development of WBG semiconductors
• Growing demand for SiC and GaN in power electronics and electric vehicles
• Rising adoption of WBG semiconductors in photovoltaics and LED lighting applications

Covid-19 Impact:

The Covid-19 pandemic has had a significant impact on the global wide bandgap semiconductors market. The disruptions in the global supply chain and manufacturing activities have led to a shortage of semiconductor components, including WBG semiconductors. However, the increasing demand for electric vehicles, renewable energy sources, and high-efficiency power devices is expected to drive the market growth in the post-pandemic period.

Key Industry Developments:

• In June 2020,
• Infineon Technologies AG announced the acquisition of Cypress Semiconductor Corporation, a leading provider of WBG semiconductors.
• In March 2021, Cree, Inc. announced the expansion of its SiC MOSFET portfolio to address the growing demand for electric vehicle applications.
• In December 2020, ROHM Semiconductor announced the development of a new SiC power module for industrial applications.

Analyst Suggestions:

The global wide bandgap semiconductors market is expected to witness significant growth in the coming years, driven by the increasing demand for power electronics, electric vehicles, and renewable energy sources. The market is also witnessing several mergers and acquisitions, partnerships, and collaborations among key players to expand their market presence and increase their customer base.

The key players operating in the market should focus on research and development of new WBG semiconductors to improve their market position and gain a competitive edge. They should also focus on expanding their market presence through strategic partnerships and collaborations with other players in the industry.

Future Outlook:

The global wide bandgap semiconductors market is expected to witness significant growth in the coming years, driven by the increasing demand for power electronics, electric vehicles, and renewable energy sources. Silicon Carbide (SiC) and Gallium Nitride (GaN) are expected to remain the most commonly used WBG semiconductors in various applications.

The market is also expected to witness several mergers and acquisitions, partnerships, and collaborations among key players to expand their market presence and increase their customer base. The increasing focus on research and development of new WBG semiconductors is also expected to drive the market growth in the coming years.

Conclusion:

The global wide bandgap semiconductors market is witnessing significant growth due to the increasing demand for power electronics, electric vehicles, and renewable energy sources, among others. Silicon Carbide (SiC) and Gallium Nitride (GaN) are the most commonly used WBG semiconductors in various applications.