WBG Power Devices Market Data Analysis by Industry Trends, Size, Share, Company Overview, Growth and Forecast by 2028
The global wide-band gap (WBG) power devices market exhibited strong growth in 2020 and is expected to maintain a steady revenue growth rate throughout the forecast period. The market expansion is primarily driven by two key factors. Firstly, there is a growing adoption of WBG power devices across various industries due to their superior performance compared to traditional semiconductors. Secondly, in motor drive applications, there is an increasing preference for wide band gap devices over silicon-based converters.
Wide band gap power devices are characterized by their larger band gap compared to conventional semiconductors. They are smaller in size but offer reliable functionality when compared to their silicon-based counterparts. The presence of semiconductor material enables wide band gap power devices to operate at higher voltages, frequencies, and temperatures. In the aerospace industry, these devices are used in the construction of thinner and lighter wings, which helps reduce fuel consumption and carbon emissions. Various sectors such as uninterruptible power supplies, industrial motor drives, data centers, and power grids also rely on wide band gap power devices. Automotive, energy and utility, industrial, aerospace, and military are some of the industries that extensively utilize these power devices.
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Factors Driving Growth of the Global WBG Power Devices Market:
- The increasing demand for wide band gap (WBG) power devices in industrial applications, as they can withstand high temperatures and are used in motor drives.
- The growing preference for wide band gap materials over silicon-based converters due to their enhanced effectiveness and lightweight properties.
- The rising demand for high-power density devices and the global adoption of energy-efficient electronic products.
Factors Restraining Growth of the Global WBG Power Devices Market:
- The market growth of WBG power devices is hindered by several unfavorable factors, such as high investment prices and escalating costs of raw materials like silicon carbide (SiC) and gallium nitride (GaN).
- The increasing processing costs associated with manufacturing these devices also contribute to the market's slowdown.
Opportunities for Players in the Global WBG Power Devices Market:
- There are promising business opportunities for both established players and new entrants in the market. These opportunities arise from the focus on developing affordable machinery and equipment, as well as the growing need for advanced designs and safety features in power devices.
- The rising demand for electric and hybrid vehicles worldwide presents lucrative opportunities for market players.
Major Companies Profiled In The Report:
- ALPHA & OMEGA Semiconductor
- Avogy
- Broadcom Limited
- Cambridge Electronics
- Cree
- Efficient Power Conversion (EPC)
- EXAGAN
- GaN Systems
- IEPC
- Infineon
- NXP
- Panasonic
- POWDEC
- Transphorm
- VisIC
- Fuji Electric
- STM
- ROHM
Strategies And Objectives Of Major Companies:
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Texas Instruments (TI), a company specializing in onboard chargers and industrial power supplies, introduced the first automotive GaN FET in the industry. This cutting-edge technology combines integrated driver, protection, and active power management, resulting in remarkable power density and efficiency.
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ROHM disclosed its strategy to leverage advanced process technologies in 2021 to expand its portfolio of silicon carbide products.
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Cree revealed its plans to separate its power and RF businesses and announced the acquisition of APEI, a power electronics company based in the United States. These moves are aimed at strengthening Cree's position in the field of SiC-based power electronics.
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