Market Monitor
Power SiC/GaN Compound Semiconductor Market Monitor
By Yole Intelligence —
Massive investments and M&A are reshaping Power SiC and GaN eco-systems.
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Coherent, EPC, GaN systems, Infineon, Innoscience, IQE, Mitsubishi Electric, Navitas, onsemi, Power Integrations, ROHM, Resonac, SICC, STMicroelectronics, Sumitomo Electric, Transphorm, Wolfspeed, and more.
Investment and M&A to reshape Power SiC and GaN markets
Multiple SiC players announced plans for capacity expansion in order to fulfill the requirement of end-systems, especially in automotive, in the coming years. Leading devices players, such as STMicroelectronics, Infineon, Wolfspeed, Onsemi and ROHM are all working on facilities built-up in various locations. At SiC wafer level, even more projects are on-going, with massive injection of resources of new entrants, we are witnessing SiC growing with a strong momentum. In addition, 8” SiC platform accounts for the technology to scale up and to gain significant cost reduction. Wolfspeed’s MHV fab is the only 8” SiC wafer fab operating as of 2023, and the company announced to build another 8” fab in Germany, with the investment of automotive tier-1, ZF. Other device players are also accelerating the 8” production, expected to have initial volume by the end of 2023. On the other hand, Tesla as the major SiC user announced to have 75% less SiC in its future powertrain, in this Monitor, we provide the scenario analysis based on current trends of technology and market, along wit the first edition of 2028 SiC market forecast.
Regarding the Power GaN market, Infineon Technologies’ acquisition of GaN Systems is highly significant for the power electronics industry: it is by far the largest sale to date within the power GaN sector, and the $830 million purchase price – around 18% of Infineon Technologies’ total annual power electronics’ revenue – comes 4 times higher than the value of the entire power GaN market as of 2022. The leading company in power electronics investing so heavily in a relatively young company with relatively small annual revenues is a momentous move, signifying Infineon Technologies’ desire to capitalize on GaN’s growth potential and cement its leadership in power electronics.
SiC and GaN have become key segments in the power semiconductor industry
SiC and GaN are continuing the rapid market evolution started in 2018-2019, but now have different drivers behind their growth. At first, disruptive car maker Tesla adopted SiC in its inverters. But now, another trend is reshaping the electric vehicle (EV) market, namely fast 800V EV charging, allowing shorter charging stops. SiC is the enabler, with promising performance and a growing supply chain. As of 2023, high-volume EVs, including BYD’s Han and Hyundai’s Ioniq5, using SiC are being shipped. Leading device players, such as STMicroelectronics, Infineon, Wolfspeed, onsemi, and ROHM, generated record revenues in 2022. They will each move forward to $1B SiC revenue in the 2023-2025 timeframe, with the total market exceeding $8B in 2028. Beyond automotive, now industrial, energy, and rail applications provide extra growth momentum. Capacity build-up, business integration, and new business models will lift SiC to another level in years to come.
Meanwhile, GaN is still progressing in consumer applications, mainly fast chargers for smartphones. Power Integrations and Navitas lead the market with multiple design wins with phone makers. Innoscience announced shipments of over 50M devices just in Q1-23, mainly targeting consumer power applications. Its 40V GaN products are already featured inside flagship phones from OPPO and Realme. After the 140W charger for the MacBook Pro 16”, GaN Systems is featuring the 70W charger of the MacBook Air M2 13” 512Go or 15” model from Apple. In Q2-23, Navitas has achieved a design win for Xiaomi Mi 13 Ultra 90W ultra-fast ‘in-box’ chargers. We observe a clear trend to target power higher than 75W for smartphone fast chargers, which would increase the GaN content. In the long term, telecom and datacom applications, which will need high-efficiency power conversion to meet CO2 emission objectives, and on-board chargers as well as DC-DC converters in EVs are opportunities for GaN to grow and exceed a $2B business in 2028.
About the authors
Power SiC/GaN Compound Semiconductor Monitor scope
- Definition of estimated market.
- Open and captive market
- Applicative power electronics market segments
3-Page summary
Changes since previous quarter and what to look out for
Compound semiconductor-based power market comparative analysis
- Power devices as a function of power and frequency
- Power device market revenues : SiC vs. GaN vs Silicon
Power SiC market overview
- Power SiC players’ market share in 2022
- Power SiC device market dynamics
- Open power SiC epiwafer market dynamics
- Power SiC wafer market dynamics
- Power SiC device revenue
- Power SiC wafer shipments
- Power SiC wafer revenue
- Power SiC wafer pricing
- Power SiC epiwafer pricing
- Quarterly power SiC device revenue
- Quarterly open power SiC epiwafer revenue
- Quarterly power SiC wafer revenue
Power SiC market FORECASTs
- Power SiC device market by segment
- Power SiC device market shares by segment
- Open power SiC epiwafer market by segment
- Open power SiC epiwafer market shares
- Power SiC wafer market by segment
- Power SiC wafer market shares by segment
Power SiC technology
- Power SiC device market by device type ($M)
- Power SiC bare die device market by device type ($M)
- Power SiC device market forecast by operating voltage ($M)
- SiC wafer development timeline
- Power SiC wafer market by wafer size ($M)
- Power SiC wafer market by wafer size (Units)
- Open power SiC epiwafer market by wafer size ($M)
- Open power SiC epiwafer market by wafer size (Units)
Power SiC market players
- Supply chain and business model
- Suppliers' capacity
- STMicroelectronics - Power SiC device revenue
- Wolfspeed - Power SiC device revenue
- ROHM - Power SiC device revenue
- Infineon - Power SiC device revenue
- onsemi - Power SiC device revenue
- Wolfspeed - Power SiC epiwafer revenue
- Resonac - Power SiC epiwafer revenue
- Wolfspeed – Power SiC wafer revenue
- Coherent - Power SiC wafer revenue
Power GaN market overview
- GaN device Players’ market share in 2022
- Power GaN market dynamics
- Open power GaN epiwafer market dynamics
- Power GaN device revenue
- Open power GaN epiwafer market dynamics
- Open and captive power GaN epiwafer shipments
- Open power GaN epiwafer revenue
- Open power GaN epiwafer shipments
- Power GaN epiwafer pricing
- Quarterly power GaN device revenue
- Quarterly power GaN epiwafer revenue
Power GaN market Forecasts
- Power GaN device market by segment
- Power GaN device market shares
- Open power GaN epiwafer market by segment
- Open power GaN epiwafer market shares
Power GaN technology
- Power GaN device market by device type
- Power GaN bare die device market by device type
- Power GaN device market forecast by rated voltage ($M)
- Power GaN device market by technology platform ($M)
- Open power GaN epiwafer shipments by wafer type (in units)
- Open power GaN epiwafer shipments by wafer size (in units)
- Power GaN wafer shipments by wafer size (in units)
Power GaN supply chain and players
- Supply chain and business model
- Suppliers' capacity
- Power Integration- Power GaN device revenue
- Navitas - Power GaN device revenue
- Innoscience - Power GaN device revenue
- EPC - Power GaN device revenue
- Transphorm - Power GaN device revenue
- GaN Systems - Power GaN device revenue
- Infineon - Power GaN device revenue
- IQE - Power GaN epiwafer revenue
Terminology and definitions
- Acronyms
- Explanation and methodology
- Formulas used
- Terminology at substrate, epitaxy and device level
Yole Group presentation
Discover videos product here and here
Key Features
Quarterly data update
- Market forecast through 2028 in M$US for devices, wafers and epiwafers and units for wafers and epiwafers for Power SiC, and Power GaN.
- Market forecast through 2028 by market segment including automotive, consumer, telecom, and industrial in M$US revenue
- Market forecast breakdown by technology including discrete, module and wafer size
- Market players at device, epiwafer and wafer level for Power SiC and Power GaN ,from 2019 to present by M$US revenue
What’s new?
- 2022-2028 Power SiC and GaN market forecast of device, epiwafer and wafer
- Analysis on the breaking news in the SiC and GaN eco-system
- Up-to-date analysis of Power SiC and GaN eco-systems
Product objectives
- Quarterly update of the data
- Market forecast through 2027 in M$US for devices, wafers and epiwafers and units for wafers and epiwafers for Power SiC and Power GaN
- Market forecast through 2028 by market segment including automotive, consumer, telecom and energy in M$US revenue
- Market forecast breakdown by technology including discrete, module and wafer size
- Market players at device, epiwafer and wafer level for Power SiC and Power GaN including STMicroelectronics, Wolfspeed, ROHM, Infineon, Onsemi, Mitsubishi Electric, Showa Denko and Coherent for SiC and Infineon, EPC, Power Integrations, Transphorm, GaN Systems, Navitas, Innoscience and IQE for GaN, from 2019 to present by M$US revenue