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The abbreviation used for Wide Band Gap (Wbg) Semiconductors is WBGSs. The Wide Band Gap (Wbg) semiconductor materials have relatively large energy or band gap compared to conventional semiconductors. The Wide Band Gap (Wbg) Semiconductors have energy gaps between 2-4 electron Volts. Compared to conventional semiconductors, WBGSs can operate at high voltages, frequencies and temperatures.  They are widely used in manufacturing lasers and radio frequency applications such as military radars.

The increasing demand for electric vehicles and inverters is expected to propel growth of the Wide Band Gap (Wbg) Semiconductors market during the forecast period

In recent years, demand for electric vehicles has increased significantly across the globe. This is majorly attributed to relatively low operating cost of electric vehicles than conventional internal combustion engine vehicles. Moreover, governments are offering subsidies to electric vehicle buyers with the aim of reducing air pollution level. These government subsidies are expected to shift the consumer preference from conventional Internal Combustion engine vehicles to electric vehicles. The pollution caused by the internal combustion engine vehicles is one of the major factors for air pollution in metro politician cities.  For instance, in June 2020, the government of Germany increased the subsidy on electric vehicles from US$ 3,565 to US$ 7,130. Moreover, in India, the Delhi state government also announced a subsidy of about US$ 67  per Kwh of the vehicle battery capacity in December 2019. According to Coherent Market Insights’ analysis done in 2019, Delhi, a city in India, had the highest air pollution levels in the country.

Wide Band Gap (Wbg) Semiconductors are used in charging electric or hybrid vehicles. According to Coherent Market Insights’ analysis, in 2019, 3,350,561 units of electric vehicles were sold in 2019 across the globe and electric vehicle market is expected to show a significant growth during the forecast period.  As a result of the rapidly increasing demand for electric vehicles, the Wide Band Gap (Wbg) Semiconductors market is expected to witness significant growth during forecast period.

Regional Analysis of the Wide Band Gap (Wbg) Semiconductor Market

On the basis of region, the global Wide Band Gap (Wbg) Semiconductor market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. In 2019, North America was the dominant region in the Wide Band Gap (Wbg) Semiconductor market with 34.7% market share and is expected to retain its dominance during the forecast period owing to product development by key vendors in region. For instance, in March 2019, Semiconductor Components Industries, LLC launched the SiC (silicon carbide) MOSFETs device. The wide band semiconductor material silicon carbide is used in MOSFET so that it can operate at high voltages. MOSFET can be used in electric vehicles for onboard charging.

Wide Band Gap (Wbg) Semiconductor Market - Impact of Coronavirus (Covid-19) Pandemic :

The COVID-19 pandemic has hampered growth of several economies of countries across the globe. According to data published by the International Monetary Fund Analysis, the global economy is expected to witness a 3% decline over the course of 2020 compared to 2019. Along with the GDP, the dispensing power of individuals across the globe is expected to decrease during 2020. As a result, demand for consumer electronics and electric vehicles is also expected decline during 2020.

High cost of Wide Band Gap (Wbg) Semiconductor is expected to hamper the market growth during the forecast period  

Wide Band Gap (Wbg) Semiconductor materials are costly and therefore increase the overall cost of electronics. According to Coherent Market Insight’s study, factors such as cost and availability of raw materials required for the manufacturing Wide Band Gap (Wbg) Semiconductors is expected to restrain the Global Wide Band Gap (Wbg) Semiconductor Market growth during the forecast period.

Key players

Key players operating in the Wide Band Gap (Wbg) Semiconductor market include Mersen S.A., Everlight Electronics Co, Avogy, Inc., Toshiba Corporation, Fujitsu Limited,  GaN Systems Inc., NXP Semiconductors N.V., Cree Inc, Semiconductor Components Industries, LLC, Efficient Power Conversion Corporation, and Renesas Electronics Corporation.

Global Wide Band Gap (WBG) Semiconductor Market: Taxonomy

  • On the basis of material type, the market is segmented into:
    • Silicon carbide (SiC)
    • Gallium nitride (GaN)
    • Others
  • On the basis of application, the market is segmented into:
    • Hybrid/Electric vehicles
    • Inverters
    • UPS
    • Wind Turbines
    • Others
  • On the basis of end-use industry, the market is segmented into:
    • Automotive
    • Aerospace & Defense
    • Energy & Utility
    • Telecommunication
    • Others
  • On the basis of region, the market is segmented into:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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