Global Silicon Carbide Power Semiconductors Market, By Type (MOSFETS, Schottky Barrier Diodes (SBDs), Bipolar Junction Transistor (BJT), Hybrid Modules, SiC Bare Die, Pin Diode, Junction FET, and Others), Wafer Type (SiC Epitaxial Wafers and Blank SiC Wafers), Voltage Range (301 V to 900 V, 901 V to 1700 V, 1701 V & Above, and Less than 300 V), Wafer Size (2 Inch, 3 Inch and 4 Inch, 6 Inch, and 8 & 12 Inch), Application (Electric Vehicle (EV), Inverters, Power Supplies, Photovoltaics, RF Devices, Industrial Motor Drives, and Others), Vertical (Automotive & Transportation, Data Centers, Industrial, Renewables/Grids, Consumer Electronics, Aerospace & Defense, Medical, and Others) - Industry Trends and Forecast to 2031.
Silicon Carbide Power Semiconductors Market Analysis and Insights
The advancement of silicon carbide power semiconductors and rising usage of electronic vehicles, serves as a key driver for market growth. In addition, increasing usage of photovoltaic technologies contribute to the market's positive trajectory. The market presents significant opportunities with strategic partnership and acquisition by silicon carbide manufacturers. However, the market faces restraints, such as the high cost associated with silicon carbide substrates, along with heating issues related to silicon carbide. Some of the challenges are issues related to silicon carbide wafer manufacturing and a shortage of silicon carbide semiconductors due to a disrupted supply chain. Navigating these dynamics will be crucial for stakeholders in the global silicon carbide power semiconductors market to capitalize on the opportunities and address the challenges effectively.
Data Bridge Market Research analyzes that the global silicon carbide power semiconductors market is expected to reach USD 11,508,292.90 thousand by 2031 from USD 1,950,156.00 thousand in 2023, growing with a CAGR of 25.1% in the forecast period of 2024 to 2031.
Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016–2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Type (MOSFETS, Schottky Barrier Diodes (SBDs), Bipolar Junction Transistor (BJT), Hybrid Modules, SiC Bare Die, Pin Diode, Junction FET, and Others), Wafer Type (SiC Epitaxial Wafers and Blank SiC Wafers), Voltage Range (301 V to 900 V, 901 V to 1700 V, 1701 V & Above, and Less than 300 V), Wafer Size (2 Inch, 3 Inch and 4 Inch, 6 Inch, and 8 & 12 Inch), Application (Electric Vehicle (EV), Inverters, Power Supplies, Photovoltaics, RF Devices, Industrial Motor Drives, and Others), Vertical (Automotive & Transportation, Data Centers, Industrial, Renewables/Grids, Consumer Electronics, Aerospace & Defense, Medical, and Others)
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Countries Covered
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U.S., Canada, and Mexico, Germany, U.K., France, Italy, Netherlands, Spain, Russia, Switzerland, Turkey, Belgium, Poland, Sweden, Denmark, Norway, Finland, and Rest of Europe, China, Japan, India, South Korea, Australia, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, and Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, Saudi Arabia, U.A.E, Israel, South Africa, Egypt, Qatar, Kuwait, Bahrain, Oman, and Rest of Middle East and Africa
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Market Players Covered
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Infineon Technologies AG, STMicroelectronics, WOLFSPEED, INC., Renesas Electronics Corporation, Semiconductor Components Industries, LLC, Mitsubishi Electric Corporation, ROHM CO., LTD., Qorvo, Inc , Nexperia, TOSHIBA CORPORATION, Allegro MicroSystems, Inc., GeneSiC Semiconductor Inc., Fuji Electric Co., Ltd, Vishay Intertechnology, Inc., Hitachi Power Semiconductor Device, Ltd., Littelfuse, Inc. , Texas Instruments Incorporated., Microchip Technology Inc., Semikron Danfoss, WeEn Semiconductors, Solitron Devices, Inc., SemiQ Inc., Xiamen Powerway Advanced Material, and MaxPower Semiconductor, among others
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Market Definition
Silicon carbide power semiconductors refers to the type of semiconductor that contains carbon and silicon and operates at very high voltage and temperature. It can be implemented in various sectors such as telecommunication, energy and power, automotive, renewable power generation, and in different other areas. They are considered due to higher maximum thermal conductive properties that have widened the area of application.
Global Silicon Carbide Power Semiconductors Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Advancement of Silicon Carbide Power Semiconductors
Silicon carbide offers several advantages over traditional silicon-based semiconductors, including higher breakdown voltage, faster switching speed and lower switching losses. These characteristics make Silicon carbide power semiconductors particularly well-suited for high-power and high-frequency applications, such as electric vehicles (EVs), renewable energy systems, and industrial motor drives. One key driving factor behind the growth of the global Silicon carbide power semiconductors market is the increasing demand for energy-efficient solutions. The adoption of Silicon carbide power semiconductors has surged as industries and consumers alike seek to reduce energy consumption and lower carbon emissions. In applications such as EVs, Silicon carbide enables higher efficiency, longer driving ranges, and faster charging times, driving the demand for Silicon carbide-based power electronics.
- Rising usage of electronic vehicles
The rising usage of electric vehicles (EVs) is a significant driving factor for the global silicon carbide power semiconductors market due to several key advantages Silicon carbide offers over traditional silicon-based semiconductors. One primary advantage is the higher efficiency of Silicon carbide devices, which enables better energy conversion and management in EVs, leading to the increased driving range and improved overall performance. In addition, Silicon carbide power semiconductors can operate at higher temperatures and voltages than their silicon-based counterparts, making them ideal for the demanding requirements of electric vehicle powertrains. The demand for efficient and reliable power electronics solutions, such as silicon carbide power semiconductors, is expected to surge as EV adoption grows worldwide.
Opportunity
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Strategic Partnership and Acquisition by Silicon Carbide Manufacturers
The strategic partnership and acquisition activities within the Silicon Carbide (SiC) manufacturing industry are presenting significant opportunities for the global silicon carbide power semiconductors market. Firstly, these collaborations allow companies to combine their expertise, resources, and technologies to accelerate the development of advanced SiC power semiconductors. This results in faster innovation cycles, leading to the introduction of more efficient and high-performance semiconductor products. For instance, a semiconductor manufacturer specializing in SiC substrates might partner with a company specializing in power electronics to create integrated solutions that offer superior performance and reliability. Secondly, strategic partnerships and acquisitions enable companies to expand their market reach and customer base. Companies can access new geographical regions and industries where the demand for SiC power semiconductors is growing rapidly by joining forces, such as electric vehicles, renewable energy systems, and industrial automation. This expansion enhances the market penetration of SiC power semiconductors and opens up lucrative opportunities for revenue growth.
Restraints/ Challenges
- High Cost Associated with Silicon Carbide Substrates
The high cost associated with silicon carbide substrates indeed serves as a significant restraining factor for the global silicon carbide power semiconductors market. Silicon carbide substrates are renowned for their superior properties, including high thermal conductivity and breakdown voltage, making them ideal for power semiconductor applications. However, the production process for Silicon carbide substrates involves complex manufacturing techniques, such as the chemical vapor deposition (CVD) method, which requires high temperatures and specialized equipment. These factors contribute to the high cost of Silicon carbide substrates compared to traditional silicon substrates, thereby limiting their widespread adoption in the semiconductor industry.
- Issues Related with Silicon Carbide Wafer Manufacturing
Issues related to silicon carbide (SiC) wafer manufacturing present significant challenges for the global silicon carbide power semiconductor market. One major challenge is the cost associated with producing high-quality SiC wafers. The manufacturing process requires specialized equipment and techniques, leading to higher production expenses compared to traditional silicon wafers. In addition, the yield rates of SiC wafers are lower due to defects and impurities, further driving up costs and limiting supply.
Recent Developments
- In December 2022, STMicroelectronics and Soitec (Euronext Paris) announced the forward stage of their cooperation on Silicon Carbide (SiC) substrates, with the qualification of Soitec's SiC substrate technology by ST planned over the next 18 months. The target of this cooperation is the adoption by STMicroelectronics of Soitec's SmartSiC technology for its future 200mm substrate manufacturing, which is feeding its devices and modules manufacturing business, with volume production expected in the midterm. This collaboration will help the company boost its financials and the growth of the global SiC power semiconductor market
- In November 2022, Infineon Technologies AG signed a non-binding Memorandum of Understanding for multi-year supply cooperation for silicon carbide (SiC) semiconductors. Infineon would reserve manufacturing capacity and supply CoolSiC "bare die" chips in the second half of the decade to the direct Tier 1 suppliers of Stellantis. The potential sourcing volume and capacity reservation have a value of significantly more than EUR 1 billion. This development helped the company to grow its financials, and it positively impacted the growth of the global SiC power semiconductor market
- In October 2022, Infineon Technologies AG opened a new factory in Cegléd, Hungary. The factory is dedicated to the assembly and testing of high-power semiconductor modules to drive the electrification of vehicles, which is key to the improvement of the world's CO2 balance. In addition, Infineon has invested in further production capacities for high-power modules that enable green energy, from wind turbines and solar modules to energy-efficient drives. This expansion helped the company to grow its financials, and it positively impacted the growth of the global SiC power semiconductor market
- In August 2022, Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) acquired the Berlin-based startup Industrial Analytics. Infineon is thus strengthening its software and services business in artificial intelligence for predictive analysis relating to machinery and industrial equipment. Infineon is acquiring 100% of the company's shares. Both parties have agreed not to disclose the amount of the transaction. This acquisition helped the company to grow its financials, and it positively impacted the growth of the global SiC power semiconductor market
- In August 2022, Infineon Technologies AG and II-VI incorporated signed a multi-year supply agreement for silicon carbide (SiC) wafers. This collaboration helped the company grow its financials and positively impacted the growth of the global SiC power semiconductor market
Global Silicon Carbide Power Semiconductors Market Scope
The global silicon carbide power semiconductors market is segmented into six notable segments which are based on type, wafer type, voltage range, wafer size, application, and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- MOSFETS
- Schottky Barrier Diodes (SBDs)
- Bipolar Junction Transistor (BJT)
- Hybrid Modules
- SiC Bare Die
- Pin Diode
- Junction FET
- Others
On the basis of type, the global silicon carbide power semiconductors market is segmented into MOSFETS, Schottky Barrier Diodes (SBDs), Bipolar Junction Transistor (BJT), hybrid modules, SiC bare die, pin diode, junction FET, and others.
Wafer Type
- SiC Epitaxial Wafers
- Blank SiC Wafers
On the basis of wafer type, the global silicon carbide power semiconductors market is segmented into SiC epitaxial wafers and blank SiC wafers.
Voltage Range
- 301 V to 900 V
- 901 V to 1700 V
- 1701 V & Above
- Less than 300 V
On the basis of voltage range, the global silicon carbide power semiconductors market is segmented into 301 V to 900 V, 901 V to 1700 V, 1701 V & above, and less than 300 V.
Wafer Size
- 2 Inch, 3 Inch and 4 Inch
- 6 Inch
- 8 & 12 Inch
On the basis of wafer size, the global silicon carbide power semiconductors market is segmented into 2 inch, 3 inch and 4 inch, 6 inch, and 8 & 12 inch.
Application
- Electric Vehicle (EV)
- Inverters
- Power Supplies
- Photovoltaics
- RF Devices
- Industrial Motor Drives
- Others
On the basis of application, the global silicon carbide power semiconductors market is segmented into Electric Vehicle (EV), inverters, power supplies, photovoltaics, RF devices, industrial motor drives, and others.
Vertical
- Automotive & Transportation
- Data Centers
- Industrial
- Renewables/Grids
- Consumer Electronics
- Aerospace & Defense
- Medical
- Others
On the basis of vertical, the global silicon carbide power semiconductors market is segmented into automotive & transportation, data centers, industrial, renewables/grids, consumer electronics, aerospace & defense, medical, and others.
Global Silicon Carbide Power Semiconductors Market Regional Analysis/Insights
The global silicon carbide power semiconductors market is segmented into six notable segments which are based on type, wafer type, voltage range, wafer size, application, and vertical.
The countries covered in this market report are U.S., Canada, and Mexico, Germany, U.K., France, Italy, Netherlands, Spain, Russia, Switzerland, Turkey, Belgium, Poland, Sweden, Denmark, Norway, Finland, rest of Europe, China, Japan, India, South Korea, Australia, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, U.A.E, Israel, South Africa, Egypt, Qatar, Kuwait, Bahrain, Oman, and rest of Middle East and Africa.
North America is expected to dominate the global silicon carbide power semiconductors market due to rising usage of electronic vehicles in the region. The U.S. is expected to dominate the North America region due to a thriving tech ecosystem, strong R&D initiatives, and a surge in electric vehicle adoption. Germany is expected to dominate the Europe region due to its advanced technology infrastructure, robust research and development capabilities, and a strong emphasis on sustainable and efficient energy solutions. China is expected to dominate the Asia-Pacific region due to its strategic investments in semiconductor technology, aggressive industrial policies, and a robust manufacturing ecosystem, positioning the country as a key player in the rapidly growing market.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Silicon Carbide Power Semiconductors Market Share Analysis
The global silicon carbide power semiconductors market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breadth, application dominance, and product type lifeline curve. The above data points provided are only related to the company’s focus on the market.
Some of the major players operating in the global silicon carbide power semiconductors market are Infineon Technologies AG, STMicroelectronics, WOLFSPEED, INC., Renesas Electronics Corporation, Semiconductor Components Industries, LLC, Mitsubishi Electric Corporation, ROHM CO., LTD., Qorvo, Inc, Nexperia, TOSHIBA CORPORATION, Allegro MicroSystems, Inc., GeneSiC Semiconductor Inc., Fuji Electric Co., Ltd, Vishay Intertechnology, Inc., Hitachi Power Semiconductor Device, Ltd., Littelfuse, Inc., Texas Instruments Incorporated., Microchip Technology Inc., Semikron Danfoss, WeEn Semiconductors, Solitron Devices, Inc., SemiQ Inc., Xiamen Powerway Advanced Material, and MaxPower Semiconductor, among others.
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