Silicon carbide wafers find applications in various industries due to their exceptional properties. They are widely used in high-power electronics, such as electric vehicle inverters and power converters, due to their high thermal conductivity and low power losses. Silicon carbide wafers enable faster and more efficient electronic devices, making them suitable for renewable energy systems and aerospace applications. With features such as high temperature and radiation resistance, these wafers play a crucial role in advancing technology and creating innovative solutions across multiple sectors.
According to Data Bridge Market Research, the Global Silicon Carbide Wafers Market is expected to reach a value of USD 4,385,550.41 thousand by 2029. The market is expected to grow with a CAGR of 22.3% in the forecast period of 2022 to 2029.
“Growing adoption of power electronics boosts the market’s growth”
The growing adoption of power electronics has significantly contributed to the expansion of the silicon carbide wafers market. Silicon carbide (SiC) wafers offer superior properties such as high thermal conductivity, lower power losses, and higher efficiency compared to traditional silicon wafers. As power electronics become more prevalent in various applications such as electric vehicles, renewable energy systems, and industrial power converters, the demand for SiC wafers has surged. Their ability to enhance performance and reduce energy consumption has become a driving force behind the market's growth.
What restraints the growth of the global silicon carbide wafers market?
“Increasing shift towards gallium nitride (GaN) wafers restraints the market’s growth”
The silicon carbide wafers market's growth may face restraint due to the increasing shift towards gallium nitride (GaN) wafers. Gallium nitride offers its own advantages, such as higher electron mobility and lower cost of production, which make it an attractive alternative for power electronic applications. As GaN technology continues to improve and gain traction in various industries, it could potentially compete with silicon carbide wafers, leading to a slowdown in their market growth and adoption.
Segmentation: Global Silicon Carbide Wafers Market
The global silicon carbide wafers market is segmented on the basis of wafer size, device, application, and industry.
- On the basis of wafer size, the silicon carbide wafers market is segmented into 2 inch, 4 inch, and 6-inch and above
- On the basis of device, the silicon carbide wafers market is segmented into SiC discrete devices and SiC bare die.
- On the basis of application, the silicon carbide wafers market is segmented into power grid device, industrial motor drive, EV motor drive, RF device and cellular base station, solar energy, wind energy, flexible AC transmission systems, high-voltage, direct current, electronic combat system, lighting control, EV charging, power supply and inverter, flame detector, and others.
- On the basis of industry, the silicon carbide wafers market is segmented into telecommunication, energy and power, renewable power generation, automotive, power electronics, defense, and others.
Regional Insights: Asia-Pacific dominates the Global Silicon Carbide Wafers Market
Asia-Pacific dominates the silicon carbide wafers market as China is poised to dominate the global silicon carbide wafers market due to its substantial semiconductor and electronics production and consumption. The country's thriving tech industry drives significant demand for these wafers, positioning it as a key player in the market.
North America is expected to witness significant growth during the forecast period of 2022 to 2029 as United States is projected to secure the second-largest market share in the silicon carbide wafers industry, driven by a robust surge in renewable energy production within the region. As renewable energy technologies utilize silicon carbide wafers for enhanced efficiency, their demand is expected to grow substantially in the U.S. market.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-silicon-carbide-wafers-market
Recent Developments
- In January 2021, WOLFSPEED, INC. introduced the revolutionary Wolfspeed WolfPACK power modules, targeting electric vehicle fast charging and solar markets. These cutting-edge modules offer enhanced efficiency, empowering designers to achieve maximum performance in compact, scalable power systems. With easy-to-use packages, they enable significant efficiency improvements, catering to the growing demand for efficient and high-performing solutions in these industries.
- In July 2021, American Elements sponsored "An Advanced Material Show" event in the U.K., featuring prominent industry leaders in battery cells, vehicle electrification, and systems expo. By participating in this event, the company effectively enhanced its brand visibility and expanded its business opportunities through lead generation and building new partnerships. The event provided a valuable platform to foster business relationships and attract potential customers, contributing to their overall business growth.
The Prominent Key Players Operating in the Global Silicon Carbide Wafers Market Include:
- WOLFSPEED, INC. (U.S.)
- II-VI Incorporated (U.S.)
- MTI Corporation (U.S.)
- CETC Solar Energy Holdings Co., Ltd. (China)
- American Elements (U.S.)
- STMicroelectronics (Switzerland)
- TankeBlue CO., LTD. (China)
- Synlight (Germany)
- SICC (China)
- PI-KEM Limited (U.K.)
- Entegris (U.S.)
- SHOWA DENKO K.K. (Japan)
- Atecom Technology Co., Ltd (China)
- Latent Technologies (U.S.)
- ROHM CO., LTD. (Japan)
- Fuji Electric Co., Ltd. (Japan)
- Mitsubishi Electric Corporation (Japan)
- Texas Instruments Incorporated (U.S.)
- Infineon Technologies AG (Germany)
- SEMIKRON (Germany)
- SK siltron Co., Ltd. (A Subsidiary of SK HOLDINGS CO., LTD.) (South Korea)
- Xiamen Powerway Advanced Material Co., Ltd. (China)
- Homeray Material Technology (China)
- Renesas Electronics Corporation (Japan)
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan)
- WeEn Semiconductors (China)
- Microchip Technology Inc. (U.S.)
- Robert Bosch GmbH (Germany)
- Semiconductor Components Industries, LLC (U.S.)
- Ferrotec Holdings Corporation (Japan)
- Alpha Power Solutions Ltd (U.K.)
- SiCrystal GmbH (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global silicon carbide wafers market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Silicon Carbide Wafers 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.
