A new report from Guidehouse Insights provides an overview of the market for wide bandgap (WBG) semiconductors in EVs and EV supply equipment (EVSE).
WBG semiconductors are an important component for improving efficiency and increasing performance of EVs and EVSE. According to a new report from Guidehouse Insights, strong growth is expected in this market from 2023 to 2032, with EVs representing the majority of revenues due to the overwhelming number of EVs compared to EVSE using WBG semiconductors. By 2032, revenues for WBG semiconductors in EVs and EVSE are projected to reach $37.1 billion.
“As the automotive sector electrifies, OEMs want to build the most efficient EVs with the highest performance,” says Jason Pandich, research analyst with Guidehouse Insights. “To achieve this, they have begun to integrate WBG semiconductors as a replacement for silicon (Si)-based semiconductor devices.”
Silicon carbide (SiC) and gallium nitride (GaN) are the primary WBG materials being used in EVs and EVSE. These materials are smaller than Si-based devices allowing for total system cost reductions, and their physical properties allow an increase in power density, reduced losses during switching, operation at higher voltages, and increases in reliability and efficiency.
Demand for WBG semiconductors is driven by the growth in EVs and EVSE from government policies and OEM commitments. WBG manufacturers have invested significantly to increase production capacity so they can meet the growing demand from the automotive and other sectors. In the near term, the demand is likely to exceed the supply, resulting in supply chain shortages, according to the report.
The report, Wide Bandgap Semiconductors in EVs and EV Supply Equipment, provides an overview of how WBG semiconductors are used in EVs and EVSE and the advantages SiC and GaN provide for both applications. It provides Guidehouse Insights’ market analyses to 2032 for WBG semiconductor revenues in EVs and EVSE, broken down by SiC and GaN. EVs are segmented by components where WBG semiconductors are used: main traction inverters, onboard chargers, and DC-DC converters. EVSE are segmented by DC fast charger type: <50 kW, 50-250 kW, 250-400 kW, and >400 kW. The report provides analyses for the revenues associated with each application component and material. An executive summary of the report is available for free download on the Guidehouse Insights website.