SiC (Silicon Carbide) power semiconductors are majorly used in electric vehicles (EVs). SiC devices are employed in the power electronics of EVs to enhance efficiency and performance. Their high thermal conductivity and wide bandgap enable SiC power semiconductors to operate at higher temperatures and voltages, resulting in reduced power losses and increased energy conversion efficiency in electric drivetrains. SiC power semiconductors enhances the driving range and expediting charging processes, serving as a critical technology for advancing the capabilities of electric vehicles. This innovation promotes sustainable and efficient transportation solutions.
According to Data Bridge Market Research analyses the Global Sic Power Semiconductor Market is expected to reach a value of USD 7,030,515.23 thousand by 2030, at a CAGR of 26.0% during the forecast period 2023-2030.
"Rising Emphasis on Renewable Energy Integration Boosts the Market Growth"
The global SiC power semiconductor market is propelled by a rising focus on renewable energy sources, particularly in applications such as solar and wind power systems. SiC power semiconductors are in high demand due to their ability to enhance power conversion efficiency, facilitating the seamless integration of renewable energy into the grid. This growing emphasis on sustainable energy solutions positions SiC power semiconductors as a key driver in the global market, with their widespread adoption contributing to advancements in power systems and supporting the transition towards cleaner and more efficient energy infrastructure.
What restraints the growth of global SiC power semiconductor market?
“Limited Production Capacity”
The limited production capacity stands as a significant constraint in the global SiC power semiconductor market. Insufficient manufacturing capabilities restrict the industry's ability to meet the growing demand for SiC power semiconductors. This hinders the market's potential for expansion and may lead to supply shortages, affecting the overall growth trajectory of the SiC power semiconductor sector.
Segmentation: Global SiC Power Semiconductor Market
The global SiC power semiconductor market is segmented on the basis of type, voltage range, wafer size, wafer type, application, and vertical.
- On the basis of type, the global SiC power semiconductor market into MOSFETS, hybrid modules, schottky barrier diodes (SBDS), IGBT, bipolar junction transistor (BJT), pin diode, junction FET (JFET), and others
- On the basis of voltage range, the global SiC power semiconductor market is segmented into 301-900 v, 901-1700 v, and above 1701 v
- On the basis of wafer size, the global SiC power semiconductor market is segmented into 6 inch, 4 inch, 2 inch, and above 6 inch
- On the basis of wafer type, the global SiC power semiconductor market is segmented into SiC epitaxial wafers, and blank SiC wafers
- On the basis of application, the global SiC power semiconductor market is segmented into electric vehicles (EV), photovoltaics, power supplies, industrial motor drives, EV charging infrastructure, RF devices, and others
- On the basis of vertical, the global SiC power semiconductor market is segmented into automotive, utilities and energy, industrial, transportation, IT and telecommunication, consumer electronics, aerospace and defense, commercial, and others
Regional Insights: Asia-Pacific is expected to dominate the Global SiC Power Semiconductor Market
The Asia-Pacific is expected to dominate the global SiC power semiconductor market, driven by robust demand for these advanced components. The surge in the need for SiC power semiconductors is complemented by a heightened demand for power modules and related devices in the region. This dual demand dynamic positions Asia-Pacific as a dominant force, with the market's growth propelled by the pivotal role played by SiC power semiconductors in meeting the escalating requirements for efficient and high-performance electronic devices.
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Recent Developments in Global SiC Power Semiconductor Market
- In December 2022, STMicroelectronics and Soitec announced an extended collaboration on Silicon Carbide (SiC) substrates. Over the past 18 months, ST qualified Soitec's SiC substrate technology, particularly its SmartSiC, for future 200mm substrate manufacturing. This strategic partnership aimed to enhance ST's semiconductor devices and modules manufacturing, contributing to the growth of the global SiC power semiconductor market
- In July 2022, Semikron Danfoss and ROHM Semiconductor, with over a decade of collaboration, achieved a milestone by integrating ROHM's latest 4th generation SiC MOSFETs into SEMIKRON's eMPack modules for automotive applications. This successful partnership has not only positively impacted the financials of both companies but also played a crucial role in meeting the worldwide demand for SiC power semiconductors, fostering the market's growths
The Prominent Key Players Operating in the Global SiC Power Semiconductor Market:
- WOLFSPEED, INC. (U.S.)
- STMicroelectronics (France)
- ROHM CO., LTD. (Japan)
- Fuji Electric Co., Ltd. (Japan)
- Mitsubishi Electric Corporation (Japan)
- Texas Instruments Incorporated (U.S.)
- Infineon Technologies AG (Germany)
- Semikron Danfoss (Germany)
- Xiamen Powerway Advanced Material Co., Ltd. (China)
- Renesas Electronics Corporation (Japan)
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan)
- Microchip Technology Inc. (U.S.)
- Semiconductor Components Industries, LLC (U.S.)
- NXP Semiconductors (Netherlands)
- UnitedSiC (U.S.)
- SemiQ Inc. (U.S.)
- Littlefuse, Inc. (U.S.)
- Allegro MicroSystems, Inc. (U.S.)
- Hitachi Power Semiconductor Device, Ltd. (Japan)
- GeneSiC Semiconductor Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global SiC power semiconductor market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global SiC Power Semiconductor Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
