The emerging market for silicon carbide (SiC) and gallium nitride (GaN) power semiconductors is forecast to grow by a factor of 17, during the next 10 years, energized by growing demand for power supplies, hybrid and electric vehicles, photovoltaic (PV) inverters and other established applications. Worldwide revenue from sales of SiC and GaN power semiconductors is projected to rise to $2.5 billion in 2023, up from just $150 million in 2013, according to “The World Market for SiC & GaN Power Semiconductors - 2014 Edition," a new report from IHS Inc. (NYSE: IHS).
SiC and GaN power semiconductors have been trying to establish themselves in key applications, for a few years now; however, approximately 15 percent of the eventual market could be made up of new applications using these device technologies that are still two or three years away from production. In addition to the market the hybrid and electric vehicles themselves, it is now apparent that the electric vehicle charging infrastructure market -- including battery charging stations for plug-in hybrid and battery-electric vehicles -- is also a potentially interesting area for SiC and GaN power devices.
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