The wide bandgap semiconductor market is anticipated to grow at a CAGR of 13.2% from 2022 to 2032, reaching a value of US$ 831.8 million, up from US$ 241.3 million in 2022. Wide bandgap semiconductors are in greater demand as a result of manufacturers’ increased reliance on silicon carbide (SiC) and gallium nitride (GaN) for radio frequency applications. In order to operate devices at high voltages, temperatures, and frequencies, wide bandgap semiconductor materials are frequently used. Wide bandgap semiconductor demand is rising as a result of this factor.
The primary ingredient used to create blue and green lasers and LEDs is wide bandgap semiconductor. Wide bandgap semiconductors are expected to be in demand, especially for military radars. Additionally, manufacturers in the wide bandgap semiconductor market profit.
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Wide Bandgap Semiconductors Market: Drivers and Restraints
To extend the battery life and to improve the power efficiency in electronic and electrical gadgets such as portable media players, desktop computers, flat panel displays, notebooks, smartphones wide bandgap semiconductors are used. So increasing demand of above-mentioned goods is spurring the demand for wide bandgap semiconductors market during the forecast period.
To produce the ultraviolet LEDs with wavelengths ranging from 200–250 nm and to make blue LEDs and lasers wide bandgap semiconductors are used. So increasing demand of LED lights is influencing the growth of the wide bandgap semiconductors market. On the other hand, the high cost of manufacturing of wide bandgap semiconductor is the major challenge restraining the growth of the wide bandgap semiconductors market over the forthcoming years.
Who are some of the Key Market Players in the Wide Bandgap Semiconductors Market?
The major player operating in the wide bandgap semiconductors market are
- Efficient Power Conversion Corporation,
- Mersen S.A.,
- Everlight Electronics Co,
- Avogy, Inc.,
- Toshiba Corporation,
- Fujitsu Limited,
- Renesas Electronics Corporation,
- NXP Semiconductors N.V., and
- Cree Inc.
The other prominent vendors associated with the wide bandgap semiconductors market are Fairchild Semiconductor, GeneSiC Semiconductor, Inc., Infineon Technologies AG, Infineon Technologies AG, MicroGaN Gmbh, United Silicon Carbide Inc., Microsemi Corporation, Vishay Intertechnology, Inc. Mitsubishi Electric, Nitronix Nanotechnology Corporation, Powerex, ROHM Semiconductor, STMicroelectronics, Sanken Electric Co., Ltd, Semikron, Semisouth Laboratories, Inc., and Shindengen Electric.
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Wide Bandgap Semiconductors Market: Regional Outlook
North America dominated the wide bandgap semiconductors market was owing to increase in applied demand of wide bandgap semiconductors in automobile sectors. Therefore the demand for wide bandgap semiconductors in the respective region is expected to spur over the forecast period.
Asia Pacific countries such as India and China are expected to witness the fastest growth due to increasing demand of efficient semiconductors in various sectors such as automotive, computer, consumer goods and others. Further lucrative business opportunities in India such as “Make In India” is encouraging investors to invest in the country owing to avail benefits of supportive government regulation and easy availability of cheap labors are the other factors influencing the growth of the Wide Bandgap Semiconductors market in the India.
Key Segments in the Wide Bandgap Semiconductors Market
By Material Type:
- Silicon Carbide
- Gallium Nitride
- Diamond
- Other (Zinc Oxide, ZnSe etc.)
By Application:
- Hybrid
- Vehicle
- PV Inverters
- Railway Traction
- Wind Turbines
- Power Supplies
- Motor Drives
- UPS
- Others
By End-Use Industry:
- Defense and Aerospace
- Information and Communication Technology
- Consumer Electronics
- Automotive
- Others
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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