Future Market Insight (FMI), in its latest report, estimates the global SiC & GaN power semiconductor market size to reach USD 2,170.8 million in 2024. Sales are predicted to soar at an impressive CAGR of 27.1%, courtesy of which the global market valuation will total a staggering USD 23,718.0 million by 2034.
SiC and GaN Power Semiconductor Market Insights
| Attributes | Key Insights |
|---|---|
| Base Market Value in 2023 | USD 1,747.3 million |
| Market Size in 2024 | USD 2,170.8 million |
| Market Value in 2034 | USD 23,718.0 million |
| Value CAGR (2024 to 2034) | 27.1% |
With trends like electric vehicle revolution, industrial automation, and renewable energy integration gaining momentum, the importance of power semiconductors increases significantly. These electronic devices are mainly used as switches and find applications in power electronics, including automobiles and mobile devices, etc., that need controlled and stabilized power supply.
Compound semiconductors, including gallium nitride (GaN) and silicon carbide (SiC), offer numerous benefits over traditional silicone-based semiconductors. They work more efficiently at high temperatures, high power densities, higher voltages, and higher frequencies. As a result, their demand is rising rapidly.
GaN and SiC power semiconductors are increasingly adopted in applications such as industrial PV inverters, motor devices, power supplies, and others. High adoption of these applications will provide the impetus for the growth of the SiC & GaN power semiconductor market through 2034.
The rise of renewable energy sector is ushering a new life into SiC and GaN power semiconductor industry. Several governments and regulatory bodies globally are launching new initiatives to facilitate the adoption of eco-friendly energy sources.
For instance, in 2021, the European Commission introduced the European Solar Initiative to scale up Europe's solar PV industrial ecosystem. Such initiatives are anticipated to generate high demand for power semiconductors like SiC and GaN through 2034.
Escalating demand for energy-efficient electronic devices and systems is set to boost sales growth. SiC and GaN power semiconductors offer excellent performance when it comes to lower energy loss, making them suitable where efficiency is paramount.
High preference for silicon carbide (sic) power devices over conventional silicon semiconductors due to their multiple advantages will fuel their demand. Similarly, the shift towards renewable energy sources and surging adoption of hybrid and electrified vehicles are predicted to propel SiC & GaN power semiconductor demand.
Lack of formalized testing and qualification processes can hamper market growth. Complexity of designing an efficient and reliable circuit with SiC & GaN components can be difficult. High initial investment and construction costs can deter adoption. Similarly, supply chain disruptions and shortages can hinder SiC and GaN production.
Growth of 5G network technology is set to create growth opportunities for SiC and GaN power semiconductors manufacturers. The high efficiency of SiC power devices is fueling their adoption in industrial device applications.
Another key factor creating growth prospects for the market is the escalating demand for compact and efficient power electronics in consumer electronics. Subsequently, increased focus on energy efficiency in automotive systems is leading to the adoption of SiC and GaN devices.
A key trend observed in the silicon carbide and gallium nitride power devices industry is a collaboration between semiconductor manufacturers to accelerate innovation and market movement. Increased availability of gallium nitride (GaN) in RF microwave applications due to its high-frequency capabilities will propel demand.
Advances in packaging technology are increasing thermal efficiency and reliability of power semiconductors. This will positively impact the SiC and GaN power electronics market during the projection period.
From 2019 to 2023, global sales of SiC & GaN power semiconductors grew at a CAGR of 9.4%, reaching a market size of USD 1,747.3 million in 2023. This growth was fueled by increased demand for power semiconductors in electric vehicles (EVs), power storage devices, and other applications.
Future Forecast for SiC and GaN Power Semiconductor Market
Over the forecast period, the global SiC & GaN power semiconductor industry is poised to rise at a CAGR of 27.1%. Total valuation at the end of 2034 is predicted to reach USD 23,718.0 million, spurred by rising popularity of electric vehicles and adoption of industrial automation.
The transition toward renewable energy resources is acting as a catalyst triggering SiC and GaN power semiconductor sales. This is because these power semiconductors are increasingly used in renewable energy systems to enhance their efficiency and performance.
As technology continues to evolve, manufacturers are focusing on developing novel solutions with high performance and improved efficiency. This will bode well for the market during the assessment period.
The section below sheds light on nations leading the global industry. The United States, Japan, Korea, and China are set to remain leading end-users of SiC & GaN power devices owing to the booming semiconductor industry and the rise of electric vehicles.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 27.6% |
| Canada | 29% |
| Germany | 26% |
| United Kingdom | 24% |
| China | 31.1% |
| Japan | 28.5% |
| South Korea | 29.6% |
The United States SiC & GaN power semiconductor market value is forecast to grow significantly, tolating USD 3,804 million by 2034. Demand for SiC & GaN power semiconductors in the nation will surge at an impressive CAGR of 27.6% over the next ten years.
Growing adoption of electric vehicles (EVs) is a prominent factor fueling demand for high-performance energy semiconductors such as SiC and GaN in the United States. This is because these semiconductors are essential to increase the performance and energy efficiency of the EV powertrain.
Escalating popularity of renewable energy systems such as solar and wind energy in the United States is creating the need for capable advanced power electronics, where SiC and GaN semiconductors excel. These semiconductors enhance the efficiency of renewable energy systems.
The surging trend towards industrial automation in various industries is anticipated to uplift demand for SiC and GaN power semiconductors in the United States. This is because these powerful semiconductors offer high efficiency, low switching losses, and improved thermal performance in automation systems.
Future Market Insights’ latest analysis predicts China SiC & GaN power semiconductor market to thrive at a staggering 31.1% CAGR during the forecast period. Sales of SiC and GaN power semiconductors in the country will total around USD 6,019.2 million by 2034.
China is emerging as a key player in the electric vehicle sector due to growing environmental concerns and favorable government support. This, in turn, is positively impacting SiC & GaN power semiconductor sales.
SiC and GaN power semiconductors are widely used in motor drives, powertrains, lighting systems, LiDAR autonomous control, and other automotive applications. Thus, growing popularity of electric vehicles in China will boost sales growth through 2034.
There is also a surge in demand for high-performance semiconductors as adoption of renewable energy systems such as solar and wind energy continues to increase. SiC and GaN power semiconductors can handle the high power requirements of these systems and improve their performance.
The section below sheds some light on leading segments along with their projected growth rates. Companies can use this information to offer demanding products to solidify their positions in the global industry.
By material type, the SiC segment will retain its market dominance, holding a share of 78.3% by 2034. Based on component, the transistors segment will thrive at a robust CAGR of 28%. By application, the automotive segment is set to account for a revenue share of 74.0% in 2034.
Market Growth Outlook by Material Type
| By Material Type | Value CAGR |
|---|---|
| SiC | 26.6% |
| GaN | 29.1% |
The latest analysis predicts the SiC power semiconductor segment to grow at 26.6% CAGR during the next decade. It will total a valuation of USD 18,564 million by 2034, holding around 78.3% of the global SiC & GaN power semiconductor market share.
Growing usage of SiC in electric vehicles and renewable energy systems like solar inverters is boosting segment growth. SiC semiconductor’s ability to handle high voltages and temperatures makes them popular in these high-power applications.
Silicon carbide (SiC) has become the most important resource to be used when dealing with new wide-bandgap, which allows less losses and more switching speed. SiC semiconductors offer higher efficiency than silicon, mainly due to significantly lower energy loss and reverse charge. This leads to more switching power and less energy required in the switch-on and switch-off phase.
GaN segment, however, is catching up and is set to rise at a higher CAGR of 29.1% through 2034. This can be attributed to GaN’s high-frequency capabilities and other advantages.
Market Growth Outlook By Component
| Component | Value CAGR |
|---|---|
| Diodes | 26.2% |
| Transistor | 28.0% |
| Power Module | 27.7% |
| Hybrid Devices | 25.9% |
As per the latest report, transistor segment is poised to grow at a staggering CAGR of 28.0% through 2034. This is attributable to escalating adoption of transistors, especially metal-oxide-semiconductor field-effect transistors (MOSFETs), for a wide range of applications in power electronics.
Silicon carbide transistors are increasingly used in high-voltage power converters as they can meet the stringent requirements regarding size, weight, and/or efficiency of these applications. The excellent properties of silicon carbide (SiC) enable the design of fast-switching unipolar devices as opposed to IGBT (Insulated Gate Bipolar Transistor) switches.
WBG transistors have the tendency to switch faster and can work at higher frequencies than silicon. The unique combination of these features makes these transistors attractive for demanding circuits used in automotive applications, especially electric vehicles and hybrid electric vehicles (HEVs).
Market Growth Outlook By Application
| Application | Value CAGR |
|---|---|
| Automotive | 26.9% |
| Industrial | 27.6% |
When it comes to SiC & GaN power semiconductor usage, the automotive industry leads from the forefront. The target segment is set to thrive at 26.9% CAGR during the assessment period, accounting for a revenue share of 74.0% in 2034.
The use of semiconductors within automobiles continues to increase. The increased semiconductor value in cars comes from chips used in advanced driver-assistance systems for safety and autonomous-driving features, as well as in the electrification of engine drive systems as the world moves toward a more carbon-neutral environment.
Silicon carbide and gallium nitride are capable of operating at higher frequencies, voltages, and temperatures. This is making them more efficient and ideal for high-performance automotive applications.
The escalating demand for EVs and the recognized benefits of power semiconductors are encouraging major investments in SiC and GaN technologies in automotive industries. As the major players continue to invest heavily in research and development, the market is set to witness the introduction of more and more semiconductors for automotive applications.
Key players are focusing on providing tailored SiC & GaN power semiconductor solutions to meet the specific needs of their clients. They are constantly looking to develop advanced power semiconductors for novel applications.
Various companies are employing strategies like partnerships, distribution agreements, and collaborations to stay ahead of the competition. For instance, recently, Vitesco Technologies entered into a strategic partnership with Canada-based GaN Systems Inc., a leading developer of Gallium Nitride power transistors.
The market is also witnessing mergers and acquisitions as companies look to strengthen their presence in attractive regions. For instance, recently, Transphorm, Inc., a prominent leader in manufacturing wide bandgap gallium nitride (GaN) semiconductor technologies, was acquired by Renesas Electronics Corporation.
Key Developments in the SiC & GaN Power Semiconductor Market
Table 1: Global Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 2: Global Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 3: Global Market Value (US$ million) Analysis (2019 to 2023) by Application
Table 4: Global Market Value (US$ million) Forecast (2024 to 2034) by Application
Table 5: Global Market Value (US$ million) Analysis (2019 to 2023) by Material Type
Table 6: Global Market Value (US$ million) Forecast (2024 to 2034) by Material Type
Table 7: Global Market Value (US$ million) Analysis (2019 to 2023) By Region
Table 8: Global Market Value (US$ million) Forecast (2024 to 2034) By Region
Table 9: North America Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 10: North America Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 11: North America Market Value (US$ million) Analysis (2019 to 2023) by Application
Table 12: North America Market Value (US$ million) Forecast (2024 to 2034) by Application
Table 13: North America Market Value (US$ million) Analysis (2019 to 2023) by Material Type
Table 14: North America Market Value (US$ million) Forecast (2024 to 2034) by Material Type
Table 15: North America Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 16: North America Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 17: Latin America Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 18: Latin America Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 19: Latin America Market Value (US$ million) Analysis (2019 to 2023) by Application
Table 20: Latin America Market Value (US$ million) Forecast (2024 to 2034) by Application
Table 21: Latin America Market Value (US$ million) Analysis (2019 to 2023) by Material Type
Table 22: Latin America Market Value (US$ million) Forecast (2024 to 2034) by Material Type
Table 23: Latin America Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 24: Latin America Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 25: Europe Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 26: Europe Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 27: Europe Market Value (US$ million) Analysis (2019 to 2023) by Application
Table 28: Europe Market Value (US$ million) Forecast (2024 to 2034) by Application
Table 29: Europe Market Value (US$ million) Analysis (2019 to 2023) by Material Type
Table 30: Europe Market Value (US$ million) Forecast (2024 to 2034) by Material Type
Table 31: Europe Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 32: Europe Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 33: South Asia & Oceania Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 34: South Asia & Oceania Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 35: South Asia & Oceania Market Value (US$ million) Analysis (2019 to 2023) by Application
Table 36: South Asia & Oceania Market Value (US$ million) Forecast (2024 to 2034) by Application
Table 37: South Asia & Oceania Market Value (US$ million) Analysis (2019 to 2023) by Material Type
Table 38: South Asia & Oceania Market Value (US$ million) Forecast (2024 to 2034) by Material Type
Table 39: South Asia & Oceania Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 40: South Asia & Oceania Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 41: East Asia Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 42: East Asia Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 43: East Asia Market Value (US$ million) Analysis (2019 to 2023) by Application
Table 44: East Asia Market Value (US$ million) Forecast (2024 to 2034) by Application
Table 45: East Asia Market Value (US$ million) Analysis (2019 to 2023) by Material Type
Table 46: East Asia Market Value (US$ million) Forecast (2024 to 2034) by Material Type
Table 47: East Asia Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 48: East Asia Market Value (US$ million) Forecast (2024 to 2034) by Country
Table 49: Middle East and Africa Market Value (US$ million) Analysis (2019 to 2023) By Component
Table 50: Middle East and Africa Market Value (US$ million) Forecast (2024 to 2034) By Component
Table 51: Middle East and Africa Market Value (US$ million) Analysis (2019 to 2023) by Application
Table 52: Middle East and Africa Market Value (US$ million) Forecast (2024 to 2034) by Application
Table 53: Middle East and Africa Market Value (US$ million) Analysis (2019 to 2023) by Material Type
Table 54: Middle East and Africa Market Value (US$ million) Forecast (2024 to 2034) by Material Type
Table 55: Middle East and Africa Market Value (US$ million) Analysis (2019 to 2023) by Country
Table 56: Middle East and Africa Market Value (US$ million) Forecast (2024 to 2034) by Country
Figure 1: Global Market Value (US$ million), 2019 to 2023
Figure 2: Global Market Value (US$ million), 2024 to 2034
Figure 3: Global Market Size (US$ million) and Y-o-Y Growth Rate from 2024 to 2034
Figure 4: Global Market Size and Y-o-Y Growth Rate from 2024 to 2034
Figure 5: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 6: Global Market Value Share Analysis (2024 to 2034) by Component
Figure 7: Global Market Attractiveness by Component
Figure 8: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Material Type
Figure 9: Global Market Value Share Analysis (2024 to 2034) by Material Type
Figure 10: Global Market Attractiveness by Material Type
Figure 11: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Application
Figure 12: Global Market Value Share Analysis (2024 to 2034) by Application
Figure 13: Global Market Attractiveness by Application
Figure 14: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Region
Figure 15: Global Market Value Share Analysis (2024 to 2034) by Region
Figure 16: Global Market Attractiveness by Region
Figure 17: North America Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 18: Latin America Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 19: Europe Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 20: East Asia Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 21: South Asia & Oceania Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 22: Middle East & Africa Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 23: North America Market Value (US$ million), 2019 to 2023
Figure 24: North America Market Value (US$ million), 2024 to 2034
Figure 25: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 26: North America Market Value Share Analysis (2024 to 2034) by Component
Figure 27: North America Market Attractiveness by Component
Figure 28: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Material Type
Figure 29: North America Market Value Share Analysis (2024 to 2034) by Material Type
Figure 30: North America Market Attractiveness by Material Type
Figure 31: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Application
Figure 32: North America Market Value Share Analysis (2024 to 2034) by Application
Figure 33: North America Market Attractiveness by Application
Figure 34: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 35: North America Market Value Share Analysis (2024 to 2034) by Country
Figure 36: North America Market Attractiveness by Country
Figure 37: United States Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 38: Canada Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 39: Latin America Market Value (US$ million), 2019 to 2023
Figure 40: Latin America Market Value (US$ million), 2024 to 2034
Figure 41: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 42: Latin America Market Value Share Analysis (2024 to 2034) by Component
Figure 43: Latin America Market Attractiveness by Component
Figure 44: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Material Type
Figure 45: Latin America Market Value Share Analysis (2024 to 2034) by Material Type
Figure 46: Latin America Market Attractiveness by Material Type
Figure 47: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Application
Figure 48: Latin America Market Value Share Analysis (2024 to 2034) by Application
Figure 49: Latin America Market Attractiveness by Application
Figure 50: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 51: Latin America Market Value Share Analysis (2024 to 2034) by Country
Figure 52: Latin America Market Attractiveness by Country
Figure 53: Brazil Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 54: Mexico Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 55: Rest of Latin America Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 56: Europe Market Value (US$ million), 2019 to 2023
Figure 57: Europe Market Value (US$ million), 2024 to 2034
Figure 58: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 59: Europe Market Value Share Analysis (2024 to 2034) by Component
Figure 60: Europe Market Attractiveness by Component
Figure 61: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Material Type
Figure 62: Europe Market Value Share Analysis (2024 to 2034) by Material Type
Figure 63: Europe Market Attractiveness by Material Type
Figure 64: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Application
Figure 65: Europe Market Value Share Analysis (2024 to 2034) by Application
Figure 66: Europe Market Attractiveness by Application
Figure 67: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 68: Europe Market Value Share Analysis (2024 to 2034) by Country
Figure 69: Europe Market Attractiveness by Country
Figure 70: Germany Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 71: Italy Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 72: France Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 73: United Kingdom Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 74: Spain Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 75: BENELUX Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 76: Russia Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 77: Nordics Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 78: Rest of Europe Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 79: East Asia Market Value (US$ million), 2019 to 2023
Figure 80: East Asia Market Value (US$ million), 2024 to 2034
Figure 81: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 82: East Asia Market Value Share Analysis (2024 to 2034) by Component
Figure 83: East Asia Market Attractiveness by Component
Figure 84: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Material Type
Figure 85: East Asia Market Value Share Analysis (2024 to 2034) by Material Type
Figure 86: East Asia Market Attractiveness by Material Type
Figure 87: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Application
Figure 88: East Asia Market Value Share Analysis (2024 to 2034) by Application
Figure 89: East Asia Market Attractiveness by Application
Figure 90: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 91: East Asia Market Value Share Analysis (2024 to 2034) by Country
Figure 92: East Asia Market Attractiveness by Country
Figure 93: China Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 94: Japan Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 95: South Korea Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 96: South Asia & Oceania Market Value (US$ million), 2019 to 2023
Figure 97: South Asia & Oceania Market Value (US$ million), 2024 to 2034
Figure 98: South Asia & Oceania Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 99: South Asia & Oceania Market Value Share Analysis (2024 to 2034) by Component
Figure 100: South Asia & Oceania Market Attractiveness by Component
Figure 101: South Asia & Oceania Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Material Type
Figure 102: South Asia & Oceania Market Value Share Analysis (2024 to 2034) by Material Type
Figure 103: South Asia & Oceania Market Attractiveness by Material Type
Figure 104: South Asia & Oceania Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Application
Figure 105: South Asia & Oceania Market Value Share Analysis (2024 to 2034) by Application
Figure 106: South Asia & Oceania Market Attractiveness by Application
Figure 107: South Asia & Oceania Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 108: South Asia & Oceania Market Value Share Analysis (2024 to 2034) by Country
Figure 109: South Asia & Oceania Market Attractiveness by Country
Figure 110: India Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 111: Indonesia Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 112: Thailand Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 113: Malaysia Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 114: Australia & New Zealand Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 115: Rest of South Asia & Oceania Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 116: Middle East & Africa Market Value (US$ million), 2019 to 2023
Figure 117: Middle East & Africa Market Value (US$ million), 2024 to 2034
Figure 118: Middle East & Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Component
Figure 119: Middle East & Africa Market Value Share Analysis (2024 to 2034) by Component
Figure 120: Middle East & Africa Market Attractiveness by Component
Figure 121: Middle East & Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Material Type
Figure 122: Middle East & Africa Market Value Share Analysis (2024 to 2034) by Material Type
Figure 123: Middle East & Africa Market Attractiveness by Material Type
Figure 124: Middle East & Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Application
Figure 125: Middle East & Africa Market Value Share Analysis (2024 to 2034) by Application
Figure 126: Middle East & Africa Market Attractiveness by Application
Figure 127: Middle East & Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2034) by Country
Figure 128: Middle East & Africa Market Value Share Analysis (2024 to 2034) by Country
Figure 129: Middle East & Africa Market Attractiveness by Country
Figure 130: Egypt Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 131: GCC Countries Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 132: Turkiye Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 133: South Africa Market Absolute $ Opportunity (US$ million), 2019 to 2034
Figure 134: Rest of Middle East & Africa Market Absolute $ Opportunity (US$ million), 2019 to 2034
The global market is set to hit a value of USD 2,170.8 million by 2024.
Global demand is predicted to rise at 27.1% CAGR through 2034.
The SiC & GaN power semiconductor market size is set to reach USD 23,718.0 million by 2034.
With a 75.1% share in 2024, the automotive segment will retain its market dominance.
STMicroelectronics N.V., Infineon Technologies, and ROHM Semiconductor.
The SIC power semiconductor segment held a market share of 81.3% in 2023.
A compound semiconductor composed of carbide and silicon.
GaN is generally considered better than SiC due to its multiple advantages.
Infineon Technologies, Fujitsu Limited, NXP Semiconductors N.V., and Maxim Integrated.
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SiC and GaN Power Semiconductor Market
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