Increasing Launch of Electric Vehicles to Augment Growth of Wide Band Gap (WBG) Semiconductors Market

Increasing launch of electric vehicles is expected to propel growth of the wide band gap (WBG) semiconductors market during the forecast period. For instance, in January 2020, Great Wall Motor, a China-based automobile manufacturer, announced to launch its electric car Ora R1 in India in 2020. Moreover, R&D in hybrid electric vehicles is also expected to aid in growth of the wide band gap (WBG) semiconductors market. For instance, in May 2020, researchers from Politecnico di Torino, Italy, proposed a method for the combined estimation of the state of charge and state of health of batteries in hybrid and full electric vehicles.

Among regions, Europe is expected to witness significant growth in the wide band gap (WBG) semiconductors market, owing to increasing investment in the military and defense sector. For instance, the U.K. Ministry of Defense granted an additional US$ 2.85 billion to the budget: US$ 370 million for the 2019–20 fiscal year and US$ 2.34 billion for 2020–21. North America is also expected to witness significant decline in the wide band gap (WBG) semiconductors market, as sales of motorcycles and cars witness downward trend. For instance, Yamaha Motor Co. has projected that the company’s motorcycle sales will drop 4.7% to 60,000 units in North America in 2020. During the fiscal year ended December 31, 2019, motorcycle sales dropped 6.3% to 63,000 units year over year. Similarly, Harley-Davidson Inc. reported that retail sales volumes dropped 4.3% in 2019 from 2018.

Among end users, the automotive segment is expected to witness sluggish growth in the wide band gap (WBG) semiconductors market, owing to significant decline in the automotive sector. For instance, according to the Society of Motor Manufacturers and Traders, the new car registrations in the U.K. decreased by 44% in March 2020 compared that in March 2019. 

Completive Analysis 
Key players operating in the wide band gap (Wbg) semiconductors 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.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.


 

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