Global Wide-bandgap Power Semiconductor Devices Market - Drivers and Forecasts by Technavio
Technavio
analysts forecast the global
wide-bandgap power (WBG) semiconductor devices market to
grow at a CAGR of almost 38% during the forecast period, according to
their latest report.
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Technavio has published a new report on the global wide-bandgap power (WBG) semiconductor devices market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of
the global
wide-bandgap power semiconductor devices market for
2017-2021. The market is segmented on the application (PFC,
industrial motor drives, renewable energy, automotive, and UPS) and by
type (SiC and GaN). The market is further segmented by geography,
including APAC, EMEA, and the Americas.
The market will witness a high year-over-year (YoY) growth rate mainly
due to the predicted mass production of silicon carbide (SiC) products
by 2018. However, after 2018, the market will see an even greater growth
rate due to the high adoption of gallium nitride (GaN) based power
devices by a wider customer base. The demand in the market is due to the
possible performance benefits in applications with the use of WBG power
devices.
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Technavio hardware
and semiconductors research analysts highlight the
following three factors that are contributing to the growth of the
global wide-bandgap power semiconductor devices market:
-
Increased use of renewable energy sources
-
Growing demand for high power density
-
Rise in demand for energy-efficient electronic products
Increased use of renewable energy sources
The global demand for renewable energy sources will fuel the growth of
the WBG power semiconductor devices market. Renewable energy is expected
to produce more than one-fourth of the global gross power generation
during 2016-2021. Governments across different countries are including
renewable energy in their long-term strategies for development.
Sunil Kumar Singh, a lead semiconductors
equipment research analyst at Technavio, says, “Renewable
sources of energy, such as wind energy and solar power, will benefit
from the use of WBG power devices. These resources require high-power
devices with greater efficiency, which can be delivered by WBG power
devices. The use of WBG devices in renewable sources will not
only increase efficiency but also provide improved switching frequency
by more than twice.”
Growing demand for high power density
The increase in demand for high production capacity using less equipment
requires more functionalities to be added to the equipment. As a result,
the equipment requires more power density to operate. Thus, the demand
for high power solutions across the globe is increasing and driving the
requirement for WBG power semiconductor devices. Since WBG power devices
can operate in an environment of up to more than 400 degree Celsius,
they have the potential to make high-power applications more optimum.
“WBG power devices, especially SiC, will be an ideal choice for high
power applications due to its high thermal conductivity. WBG devices are
expected to reduce power losses by 90% during the conversion of AC to DC
current and vice versa. This technology will enable devices to operate
at high temperatures and voltages with higher frequencies after a
reduction in their size and weight,” adds Sunil.
Rise in demand for energy-efficient electronic products
Governments across different countries are deploying policies such as
energy performance labels, general awareness programs, and energy
performance standards to ensure environmental safety, reduce consumption
of energy, and lower utility bills for consumers. These policies and the
rise in the costs of energy has compelled manufacturers to take measures
to develop energy-efficient products.
The efficient use of energy is a crucial approach to achieve sustainable
growth in the society by minimizing carbon emissions that come with
reducing electrical consumption in areas such as transportation,
household appliances, and industrial equipment. The electrical
efficiency of products is expected to cut down power bills by
approximately one fifth. These factors will drive the demand for WBG
power semiconductor devices during the forecast period.
Top vendors:
-
Cree
-
Infineon Technologies
-
ROHM Semiconductor
-
Transphorm
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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