Global Wide-bandgap Power Market: Overview
Wide-Bandgap power is widely used for various applications such as the industrial motor system, consumer’s electronics, and conversion of solar. Wide-bandgap power devices such as semiconductor help to enhance the energy efficiency and consistency of power electronics devices. The Wide-bandgap power devices are small in size and have the capabilities to operate at very high voltage. The materials used for wide-bandgap power device are gallium nitride (GaN) and silicon carbide (SiC) which possess the bandgaps of approximately 3.4 eV (electron volt) and 3.3 eV respectively. Whereas, gallium nitride preferred more as compared to silicon carbide owing to its higher reliability, smaller, faster as well as more efficient.
Global Wide-bandgap Power Market: Dynamics
The Key factors such as significantly growing electrical and electronics industry along with solar and wind energy industry which is driving the global wide-bandgap power market over the forecasted period due to the surge in demand for consumer electronics goods among the consumers globally. The micro-economic factors such as rapidly growing urbanization, disposable income in emerging countries such as China, India fuels the growth of the global wide-bandgap power market globally. Additionally, growing use of LEDs (Light Emitting Diodes) for lighting purpose among consumers is one the major driving factor of global wide-bandgap power market over the forecasted period. Furthermore, rising technological innovation such as connected sensors along with an increase in Internet of things helps the global wide-bandgap power market to grow at a rapid rate, owing to increasing use of RFID chips across the globe.
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Moreover, the rising defense sector, as well as rapidly growing automotive industry, enable to boost the growth of global wide-bandgap power market over the forecasted period, owing to the significant usage of wide-bandgap power devices for defense purposes and increasing usage of electronics devices in automobiles globally. However, growing safety standards due to increased operations at high voltage may hinder the global wide-bandgap power market to grow over the forecasted period.
Global Wide-bandgap Power Market: Regional Outlook
Among above mentioned end-user, electronics and electrical segment accounts high market share and is estimated to grow at the rapid rate in the global wide-bandgap power market over the forecasted period due to rising industrial automation globally. Among above-mentioned application type, industrial motor systems account high market share in the global wide-bandgap power market due to the significant usage of industrial motors for various purposes such as manufacturing of products. Based on geographies, global wide-bandgap power market is segmented based on seven major regions includes Western Europe, Eastern Europe, North America, Latin America, Asia Pacific excluding Japan, Japan and the Middle East and Africa.
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Among above-based regions, North America captures significant market share in the global wide-bandgap power market, owing to increasing technological advancements include artificial intelligence, robotics along with rapidly increasing data centers across the region. Western Europe is predicted to witness the surge in the growth of the global wide-bandgap power market, owing to rapidly increasing industrial automation across the regions. Furthermore, Japan is anticipated to see the rapid growth rate in the global wide-bandgap power market, attributed to rising innovation in the LED based products across the region. Robust growth in manufacturing of electronics consumer goods in emerging countries such as China, India, etc. fuel the growth of the global wide-bandgap power market in Asia Pacific excluding Japan region.
Global Automotive Wide-bandgap Power Market: Key Players
Few prominent players of the global wide-bandgap power market are Panasonic Corporation, ROHM Semiconductor, Infineon Technologies AG, Allegro Microsystems LLC, Alpha & Omega Semiconductor Ltd., Bourns Inc., Cree Inc., and Dialog Semiconductor PLC. Key manufacturers are focusing on innovation in products to build highly reliable wide-bandgap power device. For instance, in the year 2017, Cree Inc. inaugurates architectural lighting with new CLQ6A LED to provide efficient color mixing design.
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