Wide Band Gap (WBG) Power Devices Market Opportunities, Demand and Revenue Forecast

August 17, 2021

Wide band gap power devices made up of semiconductor material. These devices are small in size and provide reliable operation as compared to silicon based counterparts
The semiconductor material allows wide band gap power devices to operate at higher voltages, frequencies, and temperatures
Wide band gap power devices are used in aerospace wings as they provide thinner and lighter wings which is helpful to reduce the fuel consumption and carbon emission
Wide band gap power devices are used in applications such as uninterruptable power supply, industrial motor drives, data centers, and power grid
These power devices are used in various sectors such as automotive, energy & utility, industrial, and aerospace & defense

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Rise in Demand for Wide Band Gap (WBG) Power Devices in Industrial Application

Industrial segment has emerged as an attractive sector for investments by organizations across the globe. In this sector, wide band gap power devices are significantly used for industrial motor drives and power distribution application
In various industrial process, wide band gap semiconductor materials are largely used owing to their ability to withstand at high temperature
Furthermore, in motor drive application, wide band gap material are preferred over silicon based converter due to their more efficiency and lightweight nature. Thus, wide band gap power devices are increasingly used in industrial applications
As a result of these factors, industrial segment is expected to drive the global wide band gap power devices market during the forecast period

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Automotive Segment to Witness Lucrative Opportunities

Based on end-use industry, the global wide band gap power devices market can be segmented into automotive, industrial, aerospace & defense, energy & utility, and others
Wide band gap power devices are significantly used in automobile, as they offer high performance and capable to withstand at high temperatures in electric and hybrid vehicle
Hence, rise in the demand for wide band gap power devices for use in electric and hybrid vehicle is anticipated to drive the global wide band gap power devices market during the forecast period

Asia Pacific to Lead Global Market

In terms of region, the global wide band gap power devices market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Asia Pacific is anticipated to dominate the global wide band gap power devices market throughout the forecast period, owing to increase in automation and ongoing technological advancements in the semiconductor industry in the region
The wide band gap power devices market in North America and Europe is expected to expand at a substantial rate during the forecast period. However, the market in Latin America and Middle East & Africa is estimated to expand at a moderate rate during the forecast period.

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Key players operating in the global wide band gap power devices market are: