Wide-bandgap semiconductors (WBG) are semiconductor materials which have a relatively large band gap compared to typical semiconductors. Such as Silicon Carbide (SiC) and gallium nitride (GaN) WBG Power Devices and Modules.
Power electronics have changed in adopting GaN and SiC devices. Silicon still dominates the market, but very soon, the emergence of these devices will direct technology towards new, more efficient solutions. Wide Bandgap Power (WBG) Semiconductor Devices are quickly occupying market share. Some companies that are dominating the market are Wolfspped (Cree), Infineon Technologies, ROHM Semiconductor, STMicroelectronics, onsemi and Mitsubishi Electric for SiC power devices. While for GaN sector, there are some innovative start-ups players, such as Navitas, EPC, GaN Systems, and Transphorm.
Wide-bandgap semiconductors (WBG) has a relatively high market concentration rate. Among major players, Wolfspped (Cree) maintained its first place in the ranking in 2020. Wolfspped (Cree) accounted for 25.42% revenue share globally in 2020. Other players, Infineon Technologies and ROHM Semiconductor, accounted for 14.62%, 10.86% respectively.
According to the report, global revenue for Wide Bandgap Power (WBG) Semiconductor Devices market was valued at $ 666.9 million in 2020, and is expected to generate revenue of $ 6004.2 million by end of 2027, growing at a CAGR of 36.90% between 2021 and 2027.
Geography-wise, Asia Pacific is likely to exhibit the leading growth rate amongst all key regional markets for Wide Bandgap Power (WBG) Semiconductor Devices. China, Japan and Korea are the key consumption countries in the Wide Bandgap Power (WBG) Semiconductor Devices in APAC. In the future, the Wide Bandgap Power (WBG) Semiconductor Devices in some new economies will also rapidly grow and occupy a certain market share, such as Southeast Asia, etc. Asia Pacific is the largest consumption region of Wide Bandgap Power (WBG) Semiconductor Devices, with a consumption market share nearly 58.75% in 2020. The second place is Europe; with over 20% consumption share in the year.
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