The Shift Towards the Renewable Energy Generation Leads to Maximize the Usage of Silicon Carbide Wafers Among the Consumers

The power electronics refers to the type of the devices under which electrical energy is processed in substantial amounts unlike the devices used in transmission as well as processing of the signals or data. The major application of the power electronics is in the solid-state electronics that helps in converting and controlling the electric power. The major function of the power electronics high speed along with frequent control of the voltage impedance, currents, and the another one is power conditioning for the removal of harmonics, overvoltage, distortion and many other things. The power electronics are used to enhance the role and value of the electricity.

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Global silicon carbide wafers market is expected to reach 406,948 units by 2027 from 78,111 units in 2019 growing with the substantial CAGR of 23.9% of in the forecast period of 2020 to 2027. Several advantages are associated with the silicon carbide wafers products, and that is their usage is highly increasing in power electronics, especially in the developed nations. Hence, the products are being launched by the companies to fulfill the rising demand of their customers. To complete the growing request for silicon carbide wafers products, some companies expand their production capacities in different regions to grow their market for silicon carbide wafers products.           

Rising applications of silicon carbide wafers in the semiconductor industry across the world will drive the market's growth rate

The growing demand for semiconductors in the global industry may increase the demand for silicon carbide wafers among the manufacturers. The growing demand for semiconductors in the electronic devices, automobiles, and industrial activities leads to the adoption of silicon carbide wafers and the consumption of the silicon carbide wafers in the market. Though, the rise in applications of silicon carbide wafers in semiconductor industry can be the driver for the market.  

Report Scope and Market Segmentation

Segment Analysis:

Global silicon carbide wafers market is categorized into four notable segments which are 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. In 2020, 4-inch is dominating globally because of availability of medium size diameter of wafer size which has widened its application in each and every industry. In Asia-Pacific, 4-inch segment is dominating due to the easy movement of the electron that has increases prevalence in the various industries. In Europe, the demand of 4-inch has increased because of the growing application in high power devices. In Middle East and Africa, the demand of the 4-inch is growing very rapidly because this size of silicon carbide wafers can even work at huge operating temperature which demands huge amount of the silicon carbide wafers in the market. In North America, the 4-inch is dominating because of the properties that operate at huge voltage capacity engines which demand the 4-inch of wafer size in the market of silicon carbide wafers. 
• On the basis of device, the silicon carbide wafers market is segmented into sic discrete devices and sic bare die. In 2020, sic discrete devices are dominating globally because sic discrete devices can be formulated for the manufacturing of extraordinarily power electronics equipment. In Asia-Pacific region, the sic discrete devices are dominating because of the properties of switching at higher frequencies that also improves efficiency. In Europe, sic discrete devices are dominating because it focuses on the manufacturing of large number of the semiconductor. In Middle East and Africa, the demand of the sic discrete devices is growing very rapidly due to high demand of the power electronics which demands silicon carbide wafers. In North America, sic discrete devices segment is dominating because of the properties that can helps in improving the efficiency of final user’s which increases its demand in the country such as U.S. and Canada.
• On the basis of application, the silicon carbide wafers market is segmented into power grid device, industrial motor drive, EV motor drive, RF device & 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. In 2020, power grid device are dominating because of properties that minimizes the level of energy loses. In Asia-Pacific, power grid device segment is dominating because of the growing usage of the products that leads to efficient electrical generation. In Europe, the demand of power grid device is more because of features that is considered to be beneficial for the environment. In Middle East and Africa, power grid device is dominating because of the properties that give high security and safety in end-users which enhance the use of the silicon carbide wafers in the market. In North America, power grid device are dominating because of the benefits of current interconnection networks which boosts the demand of the silicon carbide wafers market.

The power grid device segment will dominate the application segment of the silicon carbide wafers market

The power grid device segment will emerge as the dominating segment under application. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the food and beverages industry all around the globe will further bolster the growth of this segment.

• On the basis of industry, the silicon carbide wafers market is segmented into telecommunication, energy & power, renewable power generation, automotive, power electronics, defense and others. Each segment is further segmented by wafer size into 2-inch 4-inch, 6-inch and above. In 2020, the telecommunication is dominating because of huge level of effective communication.

The telecommunication segment will dominate the industry segment of the silicon carbide wafers market

The telecommunication segment will emerge as the dominating segment industry segment. This is because of the growing number of distribution channels in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: Infineon Technologies AG (Germany), Cree, Inc. (U.S.), ROHM Co., Ltd. (Japan), Microsemi (U.S.),  STMelectronics (Switzerland), Fuji Electric Co., Ltd.  (Japan), Semiconductor Components Industries, LLC (U.S.) General Electric (U.S.), Toshiba Corporation (Japan), Renesas Electronics Corporation (Japan), Microchip Technology Inc.,(U.S.), Grindwell Norton Limited (India), Dow (U.S.), CUMI (India), Entegris (U.S.).

Market Development

• In October 2020, SEMIKRON announced the proposal of SEMIKRON Young Engineer Award and the SEMIKRON Innovation Award that is to be honored by SEMIKRON Foundation. The announcement helps widen the production capacity that generates the business's revenue. 
• In April 2020, Infineon Technologies AG announced the acquisition with the semiconductor corporation named Cypress, which helps in offering the consumer’s comprehensive portfolio. The announcement helps increase the product portfolio of the business and increases the company's customer base.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in silicon carbide wafers market during the forecast period 2020 - 2027

Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. The market growth over this region is attributed to the high level of increase in investments in infrastructure and growing manufacturing sector in countries such as India and China within the region.

North America is estimated to be the fastest growing region in silicon carbide wafers market the forecast period 2020 - 2027

North America on the other hand, is estimated to show lucrative growth over the forecast period, due to the growing aerospace and defense industries and established automotive industry in the region.

COVID-19 Impact

The recent outbreak of coronavirus had a significant impact on the silicon carbide (SiC) market. In the midst of COVID-19, the growing implementation of SiC devices in automotive and power device applications, as well as the increasing demand for hybrid and electric vehicles, creates a strong demand for silicon carbide for efficient industrial operations. Key market players are implementing new strategies to mitigate the impact of the Covid-19 pandemic. Mining industries in China resumed normal operations in the third quarter of 2020, with enterprises indicating that workers would return soon. Furthermore, iron ore producers are thought to be the least affected. The steel and iron ore industries have recovered globally, which is expected to lessen the impact of the COVID-19 pandemic on the silicon carbide industry.

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