GaN and SiC power semiconductor market seen topping $6 billion by 2030

The GaN and SiC power semiconductor market is projected to surge past $6 billion by 2030 as EVs, renewable energy and high-efficiency power electronics drive demand. The Business Research Company says energy efficiency alone could add 1.8% annual growth to the market.

Why it matters: - GaN and SiC power semiconductors are becoming core components in electric vehicles, renewable energy systems and advanced power electronics. - The market is expected to surpass $6 billion by 2030, signaling a fast-growing niche in a much larger semiconductor industry. - Energy efficiency, vehicle electrification and power-system upgrades are the main forces behind adoption.

What happened: - The Business Research Company published its Gallium Nitride (GaN) and Silicon Carbide (SiC) Power Semiconductor Global Market Report 2026 – Market And Forecast 2026-2035. - The report says the market is forecast to grow at a 25% compound annual growth rate through 2030. - The report estimates the market will account for about 1% of the broader Semiconductor and Related Devices market by 2030. - The report says the segment will represent close to 0.1% of the wider Electrical and Electronics sector by 2030. - The report assigns 1.8% annual growth to energy-efficiency demand, 1.6% to EV adoption and 1.3% to renewable energy and power electronics expansion. - A free sample and the full report are available through the company's sample request page and the detailed market report.

The details: - GaN and SiC devices reduce power loss during conversion and switching, operate at higher voltages and temperatures, and fit data centers, industrial equipment and consumer electronics. - Silicon carbide improves battery range and charging times in EVs by supporting faster switching speeds and lower energy loss. - Renewable-energy applications include solar inverters, wind turbines and energy storage systems. - The report highlights integrated GaN-based bidirectional power ICs as an emerging product category. - Navitas Semiconductor Corporation released 650 V Bi-directional GaNFast power ICs in April 2025 for EV on-board chargers, solar inverters and motor drives. - Navitas’ chip combines GaN power switches with gate drivers to support bidirectional power flow, higher power density, lower energy loss and better thermal performance. - The market is split into SiC power modules, GaN power modules, discrete SiC and discrete GaN components. - Discrete SiC is projected to lead the market by 2030 with a 37% share, or roughly $2 billion. - Discrete SiC demand is tied to industrial motor drives, heavy-equipment power conversion, railway traction and harsh-environment electronics. - Applications also include power supplies, industrial motor drives, hybrid and electric vehicles, photovoltaic inverters and traction systems. - Asia-Pacific is expected to be the largest regional market by 2030 at $2.6 billion, up from $0.9 billion in 2025. - China is forecast to lead nationally with a $1.5 billion market by 2030, up from $0.5 billion in 2025. - The report says the top 10 companies generated 42% of total revenue in 2024, underscoring a concentrated market with high entry barriers. - Infineon Technologies AG, STMicroelectronics N.V. and ON Semiconductor Corporation each held 5% of the market in 2024. - Wolfspeed Inc., ROHM Co. Ltd., Innoscience Technology, Navitas Semiconductor Corporation, Texas Instruments Incorporated, Renesas Electronics Corporation and NXP Semiconductors N.V. each held 4%.

Between the lines: - The market’s concentration suggests scale, fabrication capacity and materials expertise remain major competitive advantages. - The strongest near-term opportunities appear to be in EV powertrains, grid modernization and high-efficiency industrial systems. - The rise of bidirectional GaN power ICs points to a shift toward smaller, denser and more integrated power designs. - The report frames wide-bandgap semiconductors as a technology race tied to electrification, energy savings and supply-chain resilience.

What’s next: - The report expects continued investment in wafer production capacity, packaging and thermal management. - Suppliers are likely to keep targeting EV, renewable and industrial customers as demand for high-voltage, high-efficiency power conversion rises. - Asia-Pacific, and especially China, are positioned to remain the main growth engines through 2030.

The bottom line: - GaN and SiC are moving from specialty materials to mainstream power-enabling technologies, with EVs and energy efficiency driving the next leg of growth.