Global Wide-Bandgap Power (WBG) Power Device Market Overview 

The Global Wide-Bandgap Power (WBG) Power Device market size is estimated to reach $3,142 million by 2026, growing at a CAGR of 36% over the forecast period of 2021-2026. Wide-Bandgap Power (WBG) Power Devices offer dependable procedures compared to silicon-based devices and are made up of semiconductor materials. Wide-Bandgap Power (WBG) devices that are properly integrated allow power electronics systems to be lighter, smaller and operate at higher temperatures. Wide-Bandgap Power (WBG) Power Devices differ significantly from conventional semiconductors owing to their larger bandgap. This larger bandgap difference helps the semiconductor power devices to operate at higher voltages, temperatures, and frequencies. Wide-Bandgap Power (WBG) Power Devices present a pathway to push the limits of power conversion efficiency beyond availability. Major factors driving the growth of the Wide-Bandgap Power (WBG) Power Device market include growing demand for Wide-Bandgap Power (WBG) Power Devices in the automotive industry, rise in the adoption of WBG devices in industrial motor drives, and the increasing need for high-power density devices.

Report Coverage and Scope

The report “Global Wide-Bandgap Power (WBG) Power Device Market” by Research Informatic covers an in-depth detailed analysis for the following segment, which are covered under the scope.

By Material Type

• Zinc Oxide
• Silicon Carbide
• Gallium Arsenide
• Gallium Arsenide
• Diamond Substrate
• Others

By Application

• Industrial Motor Drives
• Uninterruptable Power Supply
• Power Grid
• Data Centers
• Others

By End User:

• Automotive
• Aerospace and Defense
• Energy and Utility
• Others

Geography

• North America
• Europe
• APAC
• RoW

Key Takeaways from Global Wide-Bandgap Power (WBG) Power Device Market Report:

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level – for material types, applications, end-use applications, and by different industry verticals.
• Understand the different dynamics influencing the market – key driving factors, challenges, and hidden opportunities.
• Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Analyze the sales and distribution channels across key geographies to improve top-line revenues.
• Understand the industry supply chain with a deep dive on the value augmentation at each step in order to optimize value and bring efficiencies in your processes. 
• Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years. 
• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than the top 20 countries globally for the market.

By application, the market for industrial motor drives to grow at the highest CAGR during the forecast period.

During the forecast period, the market for industrial motor drives is predicted to develop at the fastest rate of XX%. It also held the largest share in 2020. Industrial motor drives have the ability to control ramp-up and ramp-down of motors during start and stop functions for improving ride quality and decreasing the mechanical stress on motor control applications. Industrial motor drives are becoming the backbone of the modern global industry owing to their ability to help to make the world more sustainable.

By end-user, Wide-Bandgap Power (WBG) Power Device market for the automotive industry to grow at the highest CAGR during the forecast period

During the projection period, the Wide-Bandgap Power (WBG) Power Device market for the automotive industry is predicted to develop at the fastest CAGR. Wide bandgap power devices are extensively being incorporated in the automotive industry as they are capable of withstanding high temperatures and offering high performance in electric and hybrid vehicles. Wide bandgap power devices have a relatively large energy bandgap; that is, the energy gap existing between the lower limit of the conduction band and the upper limit of the valence band is high.

The Asia Pacific to account for the largest market share during the forecast period

Asia Pacific held the largest share for the Wide-Bandgap Power (WBG) Power Device market in 2020, with a global market share of XX%. The demand for Wide-Bandgap Power (WBG) Power Device in Europe is growing owing to the rise in technological advancements in the semiconductor industry. Furthermore, the growing adoption of Wide-Bandgap Power (WBG) Power Devices in various end-use industries for its effectiveness and its lightweight in nature and the increasing demand for industrial motor drives in the region to decrease the mechanical stress on motor control applications. 

North America is set to be the fastest-growing over the period 2021-2026. The major drivers for the rapid growth of the Wide-Bandgap Power (WBG) Power Device market in the Asia Pacific are the growing adoption of power grids in the region and the rise in the demand for Wide-Bandgap Power (WBG) Power Device devices in the aerospace industry.

Market Dynamics

Driver:  Growing demand for Wide-Bandgap Power (WBG) Power Devices in the automotive industry.

The Wide bandgap (WBG) power devices have the capability to reach higher frequency, higher voltage, and higher temperature compared with silicon-based power devices and also have the potentials to revolutionize the way in delivering and managing power in the future. Wide bandgap (WBG) power semiconductors exceed the performance limits of silicon even in critical operating environments and guarantee excellent performance. These devices present a pathway to push the limits of power conversion efficiency beyond the availability, which is propelling their adoption in the automotive industry. Moreover, Wide bandgap (WBG) power devices are extensively being used in the automotive industry across the world as they have relatively large energy bandgap and are capable of withstanding high temperatures and offering high performance in electric and hybrid vehicles. 

Challenge: Low technology maturity.

As the device technology of fluctuating Wide-Bandgap Power (WBG) Power Devices is less mature when compared to Si devices, it results in lower device reliability, lower availability, higher device costs, and lack of accurate simulation models. The reliability of devices is also affected by the packaging problems, which leads to imperfect heat spreading within devices. In addition, the widespread adoption of Wide-Bandgap Power (WBG) Power Devices needs high levels of investment across the world in new manufacturing equipment. Moreover, the lack of accurate simulation models makes it difficult to simulate fault conditions and complex operating modes and becomes a source of unreliability as the operating conditions get difficult to physically test. During the projected period, the impact of this difficulty is predicted to be moderate.

Key Market Players

Key Players in Global Wide-Bandgap Power (WBG) Power Device Market consist of GeneSiC Semiconductor Inc (US), Microsemi Corporation (US), Infineon Technologies (Germany), Littelfuse, Inc (US), Wolfspeed (US), Exagan (France), Texas Instruments (US), Rohm Semiconductor (Japan), United Silicon Carbide Inc (US), STMicroelectronics (Switzerland) among others.

Recent Developments:

• In August 2021, STMicroelectronics has launched 45W MasterGaN Devices for High-Efficiency Power Conversion that gives extra flexibility for choosing the efficient Gallium Nitride (GaN) device and driver solution when designing chargers, adapters, switched-mode power supplies, DC/DC converters, and high-voltage Power-Factor Correction (PFC).