Currently, the materials with the greatest potential for development are high-power, high-frequency wide band gap (WBG) semiconductors, including silicon carbide (SiC) and gallium nitride (GaN). , which are mainly used in the electric vehicle (EV) and fast-charging battery market. TrendForce research estimates that the production value of third-generation power semiconductors will grow from $980 million in 2021 to $4.71 billion in 2025, with a CAGR of 48%.
SiC is suitable for high power applications, such as energy storage, wind power, solar power, electric vehicles, new energy vehicles (NEV) and other industries that use battery systems very demanding. Among these industries, electric vehicles have attracted a lot of market attention. However, most of the power semiconductors used in electric vehicles currently on the market are Si-based materials, such as Si IGBTs and Si MOSFETs. However, as EV battery power systems gradually expand to voltage levels above 800 V, compared to Si, SiC will produce better performance in high voltage systems. SiC is expected to gradually replace part of the basic Si design, greatly improve vehicle performance and optimize vehicle architecture. The SiC power semiconductor market is expected to reach $3.39 billion by 2025.
GaN is suitable for high frequency applications including communication devices and fast charging of cell phones, tablets and laptops. Compared to traditional fast charging, GaN fast charging has higher power density, so the charging speed is faster in a smaller, more portable package. These advantages have proven attractive to many OEMs and ODMs and several have begun to rapidly develop this material. The GaN power semiconductor market is expected to reach $1.32 billion by 2025.
TrendForce points out that third-generation power semiconductor substrates are more difficult to manufacture and more expensive than traditional Si bases. Taking advantage of the current development of major substrate suppliers, companies such as Wolfspeed, II-VI and Qromis have successively expanded their production capacity and will mass-produce 8-inch substrates at 2S22. It is estimated that the production value of third-generation power semiconductors has room for continued growth over the next few years.