North America SiC Power Semiconductor Market – Industry Trends and Forecast to 2031

North America SiC Power Semiconductor Market Analysis and Size

In electric vehicles (EVs), silicon carbide (SiC) power semiconductors play a crucial role by significantly enhancing the efficiency of power electronics systems such as inverters, onboard chargers, and DC-DC converters. SiC components enable faster switching, reduced energy losses, and better thermal management compared to traditional silicon-based semiconductors. This leads to increased driving range, reduced battery size, and improved overall vehicle performance. The adoption of SiC technology in EVs is driven by the need for more efficient, compact, and reliable power solutions, making it a key application in the growing EV market.

North America SiC power semiconductor market size was valued at USD 2,58,525.40 thousand in 2023 and is projected to reach USD 16,63,328.61 thousand by 2031, with a CAGR of 26.2% 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       

Market Definition

Silicon Carbide (SiC) power semiconductors are advanced electronic components made from silicon carbide material. They offer superior performance over traditional silicon-based semiconductors, including higher efficiency, faster switching speeds, and greater thermal conductivity. These characteristics make SiC power semiconductors ideal for high-power and high-temperature applications such as electric vehicles, renewable energy systems, and industrial equipment.

SiC Power Semiconductor Market Dynamics

Drivers

• Increasing Advancements in Renewable Energy

SiC components are crucial for improving the efficiency and reliability of power conversion systems in solar inverters and wind turbines. They offer superior performance over traditional silicon-based semiconductors, enabling more efficient energy conversion, higher power density, and better thermal management. As the deployment of renewable energy systems increases to meet global sustainability goals, the demand for SiC semiconductors rises, fueling market growth and supporting the transition to cleaner energy sources.

• Growing Power Grid Improvements

SiC technology is crucial for enhancing the efficiency and reliability of power grid systems, particularly in high-voltage direct current (HVDC) applications and smart grids. SiC semiconductors enable more efficient power conversion, reduce energy losses, and improve thermal management compared to traditional silicon-based components. This results in more stable and efficient power distribution, supports the integration of renewable energy sources, and meets the growing demand for electricity in an environmentally sustainable manner. Consequently, the adoption of SiC technology in power grids is expanding, driving market growth.

Opportunities

• Growing Adoption of Silicon Carbide (SiC) Power Semiconductors

Industries rely on efficient power electronics for various applications such as motor drives, power supplies, and inverters. SiC devices offer superior performance characteristics, including higher efficiency, faster switching speeds, and better thermal conductivity compared to traditional silicon-based semiconductors. This enables industrial equipment to operate more efficiently, resulting in energy savings, reduced maintenance costs, and enhanced reliability. As industries seek to improve productivity and sustainability, the demand for SiC power semiconductors in industrial applications continues to rise, driving market growth.

• Growing Government Initiatives

Many governments worldwide are implementing policies and incentives to promote the adoption of electric vehicles (EVs) and renewable energy technologies. These initiatives include subsidies, tax incentives, and regulatory mandates aimed at reducing carbon emissions and promoting energy efficiency. Additionally, governments are investing in research and development programs to support the advancement of SiC technology, making it more accessible and cost-effective for various applications. Such support fosters innovation and accelerates the deployment of SiC power semiconductors across industries, thereby stimulating market growth.

Restraints/Challenges

• High Initial Costs

Compared to traditional silicon-based semiconductors, the manufacturing processes and materials required for SiC technology incur higher upfront investments. These elevated costs can deter potential adopters, especially in industries with stringent budget constraints or where cost-effectiveness is paramount. Additionally, the higher cost of SiC devices may lengthen the return on investment period for end-users, impacting their willingness to transition to SiC technology.

• High Integration Challenges

The transition from traditional silicon-based technologies to SiC requires modifications or redesigns of existing systems and infrastructure, which can be complex and costly. Integrating SiC devices may necessitate changes in circuit designs, thermal management systems, and control algorithms, adding complexity to the integration process. Compatibility issues with existing components and subsystems may also arise, requiring thorough testing and validation. Retrofitting SiC technology into legacy systems can be challenging due to differences in electrical characteristics and form factors, limiting its adoption in certain applications and industries.

This 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 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 Developments

• In December 2022, STMicroelectronics and Soitec announced the next stage of their cooperation on Silicon Carbide (SiC) substrates, with ST planning to qualify Soitec's SiC substrate technology over the next 18 months. This collaboration aims for the adoption of Soitec's SmartSiC technology for ST's future 200mm substrate manufacturing, supporting its devices and modules manufacturing. The volume production is expected in the midterm, potentially boosting ST's financials and contributing to the growth of the North America SiC power semiconductor market
• In July 2022, Semikron Danfoss and ROHM Semiconductor, after a decade-long collaboration, advanced their partnership with the qualification of ROHM's latest 4th generation SiC MOSFETs in SEMIKRON's eMPack modules for automotive applications. This collaboration serves global customer needs, enhances both companies' financials, and positively impacts the North America SiC power semiconductor market
• In August 2022, Toshiba Corporation launched its 3rd generation 650V and 1200V silicon carbide MOSFETs, which achieve a 20% reduction in switching losses in industrial equipment. This innovation aims to improve the efficiency and performance of industry

SiC Power Semiconductor Market Scope

The market is segmented on the basis of type, voltage range, wafer size, wafer type, application, and vertical. The growth amongst these segments will help you analyze meager 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
• Hybrid Modules
• Schottky Barrier Diodes (SBDS)
• IGBT
• Bipolar Junction Transistor (BJT)
• Pin Diode
• Junction FET (JFET)
• Others

Voltage Range

• 301-900 V
• 901-1700 V
• Above 1701 V

Wafer Size

• 6 Inch
• 4 Inch
• 2 Inch
• Above 6 Inch

Wafer Type

• SiC epitaxial wafers
• Blank SiC wafers

Application

• Electric Vehicles (EV)
• Photovoltaics
• Power supplies
• Industrial motor drives
• EV charging infrastructure
• RF Devices
• Others

Vertical

• Automotive
• Utilities and energy
• Industrial
• Transportation
• IT and telecommunication
• Consumer electronics
• Aerospace and defense
• Commercial
• Others

North America SiC Power Semiconductor Market Analysis/Insights

The market is analysed and market size, volume information is provided by region, type, voltage range, wafer size, wafer type, application, and vertical as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina and Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).

U.S. is expected to dominate the market due to significant demand for SiC power semiconductor products. This high demand for power modules and related devices is expected to drive market growth, positioning the U.S. as a key player in the industry's expansion.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the 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, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and SiC Power Semiconductor Market Share Analysis

The 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 market are

• WOLFSPEED, INC. (U.S.)
• STMicroelectronics (Switzerland)
• 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)
• 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.)
• Littelfuse, Inc. (U.S.)
• Allegro MicroSystems, Inc. (U.S.)
• Hitachi Power Semiconductor Device, Ltd. (Japan)
• GeneSiC Semiconductor Inc. (U.S.)

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