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Wide Band Gap (WBG) Power Device Market By Type (GaN, SiC), By Application (Communication, Automotive, Consumer Electronics, Aerospace, Healthcare, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033

June 2024 | 350 pages | ID: W3D466C563EEEN
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Wide Band Gap (WBG) Power Device Market

The wide band gap (WBG) power device market was valued at $0.9 billion in 2023 and is projected t%li%reach $2.5 billion by 2033, growing at a CAGR of 10.9% from 2024 t%li%2033.

WBG power device is a category of semiconductor devices utilizing materials with high energy differences, such as silicon carbide (SiC) or gallium nitride (GaN) during their manufacturing. SiC and GaN are known t%li%offer excellent thermal conductivity, thus ensuring reliability and enabling efficient heat dissipation in demanding applications. WBG power devices are ideal for power conversion and control in diverse industries, including renewable energy, automotive, consumer electronics, and industrial applications. The key attributes of WBG power devices include fast switching speeds, low conduction losses, and high breakdown voltages.

The telecommunications, aerospace, and consumer electronics sectors are the major drivers of the wide band gap (WBG) power device market as their applications are subject t%li%space & weight constraints. WBG devices enable the miniaturization of power electronics, hence witness a high demand. In addition, the devices are observing a significant requirement in the renewable energy sector for the integration of energy resources int%li%power grid. T%li%optimize power consumption in real time, the deployment of AI and the Internet of Things (IoT) is trending in the market. These technologies are enhancing the remote monitoring and smart management of power devices.

Despite the advantages, the challenges pertaining t%li%material defects, reliability problems, and manufacturing intricacies act as a major restraint for the wide band gap (WBG) power device market. Furthermore, the deployment of advanced WBG devices int%li%existing framework requires intensive testing and modifications, which limits the expansion of the market. On the contrary, the accelerating adoption of electric vehicles (EVs) is presenting lucrative opportunities for the market. WBG power devices play a critical role in refining the performance of EVs, by offering quick switching speeds and high operating temperatures. As per the International Energy Agency, EVs are expected t%li%account for more than 60% of the total vehicles sales by 2030. Such soaring figures are an indicator of a bright future for the wide band gap (WBG) power device market.

Segment Review

The wide band gap (WBG) power device market is segmented int%li%type, application, and region. On the basis of type, the market is bifurcated int%li%GaN and SiC. Depending on application, it is divided int%li%communication, automotive, consumer electronics, aerospace, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

On the basis of type, the GaN segment dominates the wide band gap (WBG) power device market.

Depending on application, the consumer electronics segment accounts for a high market share.

Region wise, Asia-Pacific is the highest revenue generator in the wide band gap (WBG) power device market.

Competition Analysis

The major players operating in the global wide band gap (WBG) power device market include Infineon Technologies AG, ROHM CO., LTD., Mitsubishi Electric Corporation, STMicroelectronics, Fuji Electric Co., Ltd., TOSHIBA CORPORATION, Microchip Technology Inc., Cree LED, Inc., GeneSiC, and GaN systems. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, t%li%strengthen their foothold in the competitive market.

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  • Technology Trend Analysis
  • Patient/epidemiology data at country, region, global level
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    • Additional company profiles with specific t%li%client's interest
  • Additional country or region analysis- market size and forecast
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  • SWOT Analysis
Key Market Segments

By Type
  • GaN
  • SiC
By Application
  • Communication
  • Automotive
  • Consumer Electronics
  • Aerospace
  • Healthcare
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA
  • Key Market Players
  • Infineon Technologies AG
  • ROHM CO., LTD.
  • Mitsubishi Electric Corporation
  • STMicroelectronics
  • Fuji Electric Co., Ltd.
  • TOSHIBA CORPORATION
  • Microchip Technology Inc.
  • Cree LED, Inc.
  • GeneSiC
  • GaN systems
CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
  1.4.1. Primary Research
  1.4.2. Secondary Research
  1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
  3.2.1. Top Investment Pockets
  3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
  3.3.1. Bargaining Power of Suppliers
  3.3.2. Threat of New Entrants
  3.3.3. Threat of Substitutes
  3.3.4. Competitive Rivalry
  3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
  3.4.1. Drivers
  3.4.2. Restraints
  3.4.3. Opportunities

CHAPTER 4: TUNGSTEN ELECTRODE MARKET, BY PRODUCT TYPE

4.1. Market Overview
  4.1.1 Market Size and Forecast, By Product Type
4.2. Pure Tungsten
  4.2.1. Key Market Trends, Growth Factors and Opportunities
  4.2.2. Market Size and Forecast, By Region
  4.2.3. Market Share Analysis, By Country
4.3. Thoriated Tungsten
  4.3.1. Key Market Trends, Growth Factors and Opportunities
  4.3.2. Market Size and Forecast, By Region
  4.3.3. Market Share Analysis, By Country
4.4. Lanthanum Tungsten
  4.4.1. Key Market Trends, Growth Factors and Opportunities
  4.4.2. Market Size and Forecast, By Region
  4.4.3. Market Share Analysis, By Country
4.5. Cerium Tungsten
  4.5.1. Key Market Trends, Growth Factors and Opportunities
  4.5.2. Market Size and Forecast, By Region
  4.5.3. Market Share Analysis, By Country
4.6. Others
  4.6.1. Key Market Trends, Growth Factors and Opportunities
  4.6.2. Market Size and Forecast, By Region
  4.6.3. Market Share Analysis, By Country

CHAPTER 5: TUNGSTEN ELECTRODE MARKET, BY APPLICATION

5.1. Market Overview
  5.1.1 Market Size and Forecast, By Application
5.2. TIG Welding
  5.2.1. Key Market Trends, Growth Factors and Opportunities
  5.2.2. Market Size and Forecast, By Region
  5.2.3. Market Share Analysis, By Country
5.3. Plasma Welding
  5.3.1. Key Market Trends, Growth Factors and Opportunities
  5.3.2. Market Size and Forecast, By Region
  5.3.3. Market Share Analysis, By Country
5.4. Thermal Spray
  5.4.1. Key Market Trends, Growth Factors and Opportunities
  5.4.2. Market Size and Forecast, By Region
  5.4.3. Market Share Analysis, By Country
5.5. Cutting
  5.5.1. Key Market Trends, Growth Factors and Opportunities
  5.5.2. Market Size and Forecast, By Region
  5.5.3. Market Share Analysis, By Country

CHAPTER 6: TUNGSTEN ELECTRODE MARKET, BY REGION

6.1. Market Overview
  6.1.1 Market Size and Forecast, By Region
6.2. North America
  6.2.1. Key Market Trends and Opportunities
  6.2.2. Market Size and Forecast, By Product Type
  6.2.3. Market Size and Forecast, By Application
  6.2.4. Market Size and Forecast, By Country
  6.2.5. U.S. Tungsten Electrode Market
    6.2.5.1. Market Size and Forecast, By Product Type
    6.2.5.2. Market Size and Forecast, By Application
  6.2.6. Canada Tungsten Electrode Market
    6.2.6.1. Market Size and Forecast, By Product Type
    6.2.6.2. Market Size and Forecast, By Application
  6.2.7. Mexico Tungsten Electrode Market
    6.2.7.1. Market Size and Forecast, By Product Type
    6.2.7.2. Market Size and Forecast, By Application
6.3. Europe
  6.3.1. Key Market Trends and Opportunities
  6.3.2. Market Size and Forecast, By Product Type
  6.3.3. Market Size and Forecast, By Application
  6.3.4. Market Size and Forecast, By Country
  6.3.5. France Tungsten Electrode Market
    6.3.5.1. Market Size and Forecast, By Product Type
    6.3.5.2. Market Size and Forecast, By Application
  6.3.6. Germany Tungsten Electrode Market
    6.3.6.1. Market Size and Forecast, By Product Type
    6.3.6.2. Market Size and Forecast, By Application
  6.3.7. Italy Tungsten Electrode Market
    6.3.7.1. Market Size and Forecast, By Product Type
    6.3.7.2. Market Size and Forecast, By Application
  6.3.8. Spain Tungsten Electrode Market
    6.3.8.1. Market Size and Forecast, By Product Type
    6.3.8.2. Market Size and Forecast, By Application
  6.3.9. UK Tungsten Electrode Market
    6.3.9.1. Market Size and Forecast, By Product Type
    6.3.9.2. Market Size and Forecast, By Application
  6.3.10. Russia Tungsten Electrode Market
    6.3.10.1. Market Size and Forecast, By Product Type
    6.3.10.2. Market Size and Forecast, By Application
  6.3.11. Rest of Europe Tungsten Electrode Market
    6.3.11.1. Market Size and Forecast, By Product Type
    6.3.11.2. Market Size and Forecast, By Application
6.4. Asia-Pacific
  6.4.1. Key Market Trends and Opportunities
  6.4.2. Market Size and Forecast, By Product Type
  6.4.3. Market Size and Forecast, By Application
  6.4.4. Market Size and Forecast, By Country
  6.4.5. China Tungsten Electrode Market
    6.4.5.1. Market Size and Forecast, By Product Type
    6.4.5.2. Market Size and Forecast, By Application
  6.4.6. Japan Tungsten Electrode Market
    6.4.6.1. Market Size and Forecast, By Product Type
    6.4.6.2. Market Size and Forecast, By Application
  6.4.7. India Tungsten Electrode Market
    6.4.7.1. Market Size and Forecast, By Product Type
    6.4.7.2. Market Size and Forecast, By Application
  6.4.8. South Korea Tungsten Electrode Market
    6.4.8.1. Market Size and Forecast, By Product Type
    6.4.8.2. Market Size and Forecast, By Application
  6.4.9. Australia Tungsten Electrode Market
    6.4.9.1. Market Size and Forecast, By Product Type
    6.4.9.2. Market Size and Forecast, By Application
  6.4.10. Thailand Tungsten Electrode Market
    6.4.10.1. Market Size and Forecast, By Product Type
    6.4.10.2. Market Size and Forecast, By Application
  6.4.11. Malaysia Tungsten Electrode Market
    6.4.11.1. Market Size and Forecast, By Product Type
    6.4.11.2. Market Size and Forecast, By Application
  6.4.12. Indonesia Tungsten Electrode Market
    6.4.12.1. Market Size and Forecast, By Product Type
    6.4.12.2. Market Size and Forecast, By Application
  6.4.13. Rest of Asia-Pacific Tungsten Electrode Market
    6.4.13.1. Market Size and Forecast, By Product Type
    6.4.13.2. Market Size and Forecast, By Application
6.5. LAMEA
  6.5.1. Key Market Trends and Opportunities
  6.5.2. Market Size and Forecast, By Product Type
  6.5.3. Market Size and Forecast, By Application
  6.5.4. Market Size and Forecast, By Country
  6.5.5. Brazil Tungsten Electrode Market
    6.5.5.1. Market Size and Forecast, By Product Type
    6.5.5.2. Market Size and Forecast, By Application
  6.5.6. South Africa Tungsten Electrode Market
    6.5.6.1. Market Size and Forecast, By Product Type
    6.5.6.2. Market Size and Forecast, By Application
  6.5.7. Saudi Arabia Tungsten Electrode Market
    6.5.7.1. Market Size and Forecast, By Product Type
    6.5.7.2. Market Size and Forecast, By Application
  6.5.8. UAE Tungsten Electrode Market
    6.5.8.1. Market Size and Forecast, By Product Type
    6.5.8.2. Market Size and Forecast, By Application
  6.5.9. Argentina Tungsten Electrode Market
    6.5.9.1. Market Size and Forecast, By Product Type
    6.5.9.2. Market Size and Forecast, By Application
  6.5.10. Rest of LAMEA Tungsten Electrode Market
    6.5.10.1. Market Size and Forecast, By Product Type
    6.5.10.2. Market Size and Forecast, By Application

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023

CHAPTER 8: COMPANY PROFILES

8.1. Diamond Ground Products
  8.1.1. Company Overview
  8.1.2. Key Executives
  8.1.3. Company Snapshot
  8.1.4. Operating Business Segments
  8.1.5. Product Portfolio
  8.1.6. Business Performance
  8.1.7. Key Strategic Moves and Developments
8.2. Astaras, Inc.
  8.2.1. Company Overview
  8.2.2. Key Executives
  8.2.3. Company Snapshot
  8.2.4. Operating Business Segments
  8.2.5. Product Portfolio
  8.2.6. Business Performance
  8.2.7. Key Strategic Moves and Developments
8.3. Weldstone
  8.3.1. Company Overview
  8.3.2. Key Executives
  8.3.3. Company Snapshot
  8.3.4. Operating Business Segments
  8.3.5. Product Portfolio
  8.3.6. Business Performance
  8.3.7. Key Strategic Moves and Developments
8.4. Winner Tungsten Products Co. Ltd.
  8.4.1. Company Overview
  8.4.2. Key Executives
  8.4.3. Company Snapshot
  8.4.4. Operating Business Segments
  8.4.5. Product Portfolio
  8.4.6. Business Performance
  8.4.7. Key Strategic Moves and Developments
8.5. Huntingdon Fusion Techniques
  8.5.1. Company Overview
  8.5.2. Key Executives
  8.5.3. Company Snapshot
  8.5.4. Operating Business Segments
  8.5.5. Product Portfolio
  8.5.6. Business Performance
  8.5.7. Key Strategic Moves and Developments
8.6. Metal Cutting
  8.6.1. Company Overview
  8.6.2. Key Executives
  8.6.3. Company Snapshot
  8.6.4. Operating Business Segments
  8.6.5. Product Portfolio
  8.6.6. Business Performance
  8.6.7. Key Strategic Moves and Developments
8.7. BGRIMM
  8.7.1. Company Overview
  8.7.2. Key Executives
  8.7.3. Company Snapshot
  8.7.4. Operating Business Segments
  8.7.5. Product Portfolio
  8.7.6. Business Performance
  8.7.7. Key Strategic Moves and Developments
8.8. Advanced Materials Science And Technology Co., Ltd.
  8.8.1. Company Overview
  8.8.2. Key Executives
  8.8.3. Company Snapshot
  8.8.4. Operating Business Segments
  8.8.5. Product Portfolio
  8.8.6. Business Performance
  8.8.7. Key Strategic Moves and Developments
8.9. Sunrain Tungsten
  8.9.1. Company Overview
  8.9.2. Key Executives
  8.9.3. Company Snapshot
  8.9.4. Operating Business Segments
  8.9.5. Product Portfolio
  8.9.6. Business Performance
  8.9.7. Key Strategic Moves and Developments
8.10. ATTL Advanced Materials Co., Ltd
  8.10.1. Company Overview
  8.10.2. Key Executives
  8.10.3. Company Snapshot
  8.10.4. Operating Business Segments
  8.10.5. Product Portfolio
  8.10.6. Business Performance
  8.10.7. Key Strategic Moves and Developments


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