Silicon Carbide & Gallium Nitride Semiconductor Market
A research report published in 2013 gets into the Market Drivers and Barriers, Key Applications, Device Cost Trend along with Device Manufacturers and Developers. The 6 key applications for these products include Automotive/HEV, Industrial Motor Drives, PV Inverters, Power Supplies & UPS, Traction and Wind Turbines.
According to the charts in the presentation Sic Power Semiconductor Revenue is expected to jump from $225m today to $1.7B by 2022 drive largely by Industrial Motor Drives which will grow from approximately $10 to $500m by 2022. The largest opportunities appear to be within Industrial Motor Drives ($500m), PV Inverters ($300m) and Hybrids, Electric Vehicles ($250m) and Power Supplies ($250) by 2022. Power supply makes up most of the SiC Power Semiconductor revenue today.
The Gallium Nitride Power (Gan on Silicon) Semiconductor Market is expected to jump from $75m today to over $1B by 2022. Power supplies are expected to make up $700m by 2022.
Together the overall SiC & Gan on Silicon Power Semiconductor Market will jump from approximately $300m today to $2.7B by 2022. Explosive growth is predicted to begin in 2016 as the combined market size nearly triples in 3 years from $700m to just under $2b by 2019.