India Silicon Carbide Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 41,356.70 Thousand |
 Market Size (Forecast Year) |
USD 93,942.90 Thousand |
 CAGR |
% |
| Major Markets Players |
India Silicon Carbide (SiC) Market, By Product (Black and Green), Device (SiC Discrete, SiC Bare Die, and SiC Module), Wafer Size (2-Inch, 4-Inch, and 6-Inch), Application (Metallurgy, Abrasives, Refractory, Electrical and Electronics, and Other), End-Use (Automotive, Aerospace, Military and Defense, Heavy Engineering, Consumer Electronics, Healthcare, and Others) - Industry Trends and Forecast to 2031.
India Silicon Carbide (SiC) Market Analysis and Size
In the silicon carbide (SiC) market, innovative applications and methods are reshaping industries. From enhanced power electronics to advanced semiconductors, SiC's properties drive efficiency and performance. Emerging growth and 3D printing advancements extend SiC applications, transforming automotive, aerospace, and renewable energy industries with innovative solutions.
Data Bridge Market Research analyses that the India silicon carbide (SiC) market which was USD 41,356.70 thousand in 2023, is expected to reach USD 93,942.90 thousand by 2031, growing at a CAGR of 10.8% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2024 to 2031 |
|
Base Year |
2023 |
|
Historic Years |
2022 (Customizable to 2016 - 2021) |
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Quantitative Units |
Revenue in USD Thousand, Volumes in Units, Pricing in USD |
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Segments Covered |
Product (Black and Green), Device (SiC Discrete, SiC Bare Die, and SiC Module), Wafer Size (2-Inch, 4-Inch, and 6-Inch), Application (Metallurgy, Abrasives, Refractory, Electrical and Electronics, and Other), End-Use (Automotive, Aerospace, Military and Defense, Heavy Engineering, Consumer Electronics, Healthcare, and Others) |
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Market Players Covered |
STMicroelectronics (Switzerland), Infineon Technologies AG (Germany), ROHM CO., LTD. (Japan), WOLFSPEED, INC. (U.S.), Semiconductor Components Industries, LLC (U.S.), Fuji Electric Co., Ltd. (Japan), Renesas Electronics Corporation (Japan), Microchip Technology Inc. (U.S.), TOSHIBA CORPORATION (Japan), General Electric (U.S.), GeneSiC Semiconductor Inc. (U.S.), ESD-SIC bv (Netherlands), Entegris, Inc. (U.S.), POWEREX (U.S.), Qorvo, Inc. (U.S.), Saint-Gobain (France), and Sublime Technologies (U.S.) |
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Market Opportunities |
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Market Definition
Silicon carbide (SiC) is a compound made of silicon and carbon atoms arranged in a crystal lattice. It is renowned for its exceptional hardness, thermal conductivity, and resistance to corrosion, making it valuable in various industries including electronics, automotive, and abrasives. SiC is used in semiconductor devices, ceramics, and refractories.
India Silicon Carbide (SiC) Market Dynamics
Drivers
- Growing Demand for Power Electronics
The surge in demand for power electronics is propelling the adoption of silicon carbide (SiC) due to its superior properties over conventional silicon-based devices. This demand is primarily fueled by the need for efficient power conversion in electric vehicles, renewable energy setups, and industrial motors, where SiC's enhanced performance is crucial for optimizing energy usage and system efficiency.
- Rise in Electric Vehicles (EVs) Adoption
The surge in electric vehicle (EV) adoption propels the demand for SiC-based power electronics. SiC devices offer heightened efficiency, extended driving range, and accelerated charging, amplifying their significance in EV technology. This trend underscores SiC's pivotal role in advancing automotive electrification, fueling the expansion of the SiC market.
Opportunities
- Increasing Miniaturization and Higher Power Density
SiC devices enable smaller sizes and greater power densities versus silicon counterparts, vital for aerospace and portable electronics where space and weight are critical. This advancement transforms device design, facilitating more compact and lightweight solutions without compromising performance, essential for meeting the demands of modern applications in these industries.
- Expansion of Renewable Energy Infrastructure
The increasing focus on renewable energy, particularly solar and wind power, necessitates efficient power conversion systems. Silicon carbide (SiC)-based power electronics offer enhanced efficiency and reliability, driving their adoption in renewable energy infrastructure. This trend is propelled by SiC's ability to improve the performance and resilience of power conversion systems in sustainable energy applications.
Restraints/Challenges
- Transition from Traditional Materials
Resistance to transitioning from traditional materials to silicon carbide (SiC) due to compatibility, adaptability, and redesign concerns slows SiC's adoption. This reluctance hampers market growth as industries hesitate to invest in SiC technology, fearing disruptions to existing systems. Overcoming these barriers is crucial for widespread adoption and market expansion in various applications.
- Limited Supply Chain Infrastructure
The limited infrastructure for silicon carbide (SiC) production, distribution, and supply chain creates blockages, hindering market growth. Insufficient facilities and logistics slow down material availability, increasing lead times and costs. This restricts market scalability, delays product launches, and undermines competitiveness, stifling the broader adoption of SiC technology across industries.
This India silicon carbide (SiC) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the India silicon carbide (SiC) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In September 2022, SK Siltron, a major player in semiconductor wafer manufacturing, launched a plans to invest USD 1.65 billion by 2026, with USD 0.7 billion dedicated to constructing a new wafer manufacturing facility in Gumi National Industrial Complex, strengthening the growing silicon carbide (SiC) market
- In May 2022, SK Siltron's newly established USA Bay City plant is poised to enhance production capacity, projecting an annual output of over 100,000 silicon carbide sheets, contributing significantly to the expanding SiC market
- In March 2022, Microchip Technology launched 3.3 kV Silicon Carbide (SiC) power devices, renowned for their superior efficiency, reliability, and minimal resistance, facilitating a seamless transition to high-voltage SiC in various sectors, including electrified transportation, renewable energy, and aerospace, catalyzing SiC market growth
- In December 2021, STMicroelectronics N.V. launched third-generation STPOWER SiC MOSFETs tailored for electric vehicles and powertrains, showcasing remarkable advancements in power density, energy efficiency, and reliability, propelling the SiC market forward and revolutionizing applications in electric vehicles, industrial machinery, and renewable energy systems
India Silicon Carbide (SiC) Market Scope
The India silicon carbide (SiC) market is segmented on the basis of product, device, wafer size, application, and end-use. The growth amongst these segments will help you analyse 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.
Product
- Black
- Green
Device
- SiC Discrete
- Silicon Diode
- Silicon MOSFET
- SiC Bare Die
- SiC Module
Wafer Size
- 2-Inch
- 4-Inch
- 6-Inch
Application
- Metallurgy
- Abrasives
- Refractory
- Electrical and Electronics
- Other
End-Use
- Automotive
- Aerospace
- Military and Defense
- Heavy Engineering
- Consumer Electronics
- Healthcare
- Others
Competitive Landscape and India Silicon Carbide (SiC) Market Share Analysis
The India silicon carbide (SiC) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the India silicon carbide (SiC) market are:
- STMicroelectronics (Switzerland)
- Infineon Technologies AG (Germany)
- ROHM CO., LTD. (Japan)
- WOLFSPEED, INC. (U.S.)
- Semiconductor Components Industries, LLC (U.S.)
- Fuji Electric Co., Ltd. (Japan)
- Renesas Electronics Corporation (Japan)
- Microchip Technology Inc. (U.S.)
- TOSHIBA CORPORATION (Japan)
- General Electric (U.S.)
- GeneSiC Semiconductor (U.S.)
- ESD-SIC bv (Netherlands)
- Entegris, Inc. (U.S.)
- POWEREX (U.S.)
- Qorvo, Inc. (U.S.)
- Saint-Gobain (France)
- Sublime Technologies (U.S.)
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
