REPORT HIGHLIGHT
Silicon carbide (SiC) MOSFET market size was valued at USD 980.7 Million in 2022, expanding at a CAGR of 12.3% from 2023 to 2030.
Silicon carbide (SiC) also known as carborundum is a chemical compound of silicon and carbon. SiC MOSFET is projected to have the potential to replace semiconductors and other silicon-based transistors; therefore, it is attributed to having a greater revenue share. Moreover, they are extensively employed in various power applications where they provide a much higher level of performance. The on-state resistance, thermal conductivity, and blocking voltage of Silicon Carbide (SiC) MOSFETs are higher than those of silicon.
Silicon Carbide (SiC) MOSFET Market- Market Dynamics:
- Increasing global demand for EVs and a wide range of applications in power electronics increase the market demand.
- Material development such as gallium nitride and silicon carbide has been receiving increased attention. In addition, based on material properties, SiC MOSFET semiconductor devices are well equipped to meet increased demand for electrification and sustainability. Due to its material properties, silicon carbide has been considered the potential replacement for silicon, and these advantages are fueling the utilization of silicon carbide in power electronics. The essential applications of silicon carbide semiconductor MOSFET devices are hybrid electric vehicle powertrains, electric vehicle battery chargers, MRI power supplies, X-ray power supplies, integrated vehicle systems, energy recovery, and power distribution.
- Moreover, the use of SiC is expected to rise significantly owing to its wide range of applications in power electronics. The rising use of silicon carbide semiconductor MOSFET devices in emerging industries such as power electronics and electric vehicle industries is projected to propel the market growth. However, the cost of SiC MOSFET and packaging issues are the major restraints for the market growth. Furthermore, the rapid growth in greenhouse gases and numerous government initiatives to minimize oil imports has led to the rising growth in demand for EV charging stations and EVs. In addition, with the growth of the EV market, automakers are demanding higher voltage drive systems in order to shorten the time of charging and overall weight of the EV, which can allow longer driving ranges. Thus, above mention factors are expected to drive the Sic MOSFET market growth.
Silicon Carbide (SiC) MOSFET Market- Key Insights:
- As per the analysis shared by our research analyst, the global silicon carbide (SiC) MOSFET market is estimated to grow annually at a CAGR of around 12.3% over the forecast period (2023-2030)
- The silicon carbide (SiC) MOSFET industry is projected to grow at a significant rate due to the increasing global demand for EVs owing to rapid adoption of zero-emission technologies
- Based on component segmentation, power modules was predicted to show maximum market share in the year 2022
- Based on breakdown voltage segmentation, 1200 V to 1700 V was the leading type in 2022
- On the basis of region, Asia Pacific was the leading revenue generator in 2022
Silicon Carbide (SiC) MOSFET Market- Segmentation Analysis:
- The global silicon carbide (SiC) MOSFET market is segmented on the basis of component, product, breakdown voltage, end-use, and region.
- The market is divided into five categories based on the component: FET/MOSFET transistors, Schottky diodes, integrated circuits, power modules, rectifiers/diodes, and others. The power modules segment is likely to maintain its dominance over the forecast period. The use of silicon carbide as a switch for power conversion is made feasible by silicon carbide power modules that have various applications in industrial, energy, and e-mobility applications. They also assist to reduce operational costs and improve power consumption efficiency.
- The market is divided into three categories based on product: frequency devices, optoelectronic devices, and power semiconductors. The power semiconductors segment is accounted to dominate the market share. SiC semiconductor devices offer various range of fundamental characteristics including wide band gap, which makes them highly suitable for power semiconductors. Additionally, the silicon carbide wide band gap also helps reduce the equipment's size as well as makes it more reliable at switching frequencies and higher voltages.
- The market is divided into four categories based on breakdown voltage: Above 1700 V, 1200 V - 1700 V, 900 V - 1200 V, and 650 V- 900 V. The 1200 V to 1700 V segment is attributed to witnessing speedy growth over the forecast period owing to rising demand for energy-efficient power conversion solutions in several industries. Additionally, SiC MOSFETs can assist to extend the range of electric vehicles while improving overall efficiency and reducing charging times.
- The market is divided into six categories based on end-use: Data & Communication Devices, Aerospace & Defense, Energy & Power, Automotive, Medical Devices, Consumer Electronics, and Others. The automotive segment accounted to grow with the highest revenue share in the market. The segment is further -segmented into IC automobiles and electric vehicles. The rising adoption of SiC semiconductors in IC automobiles and electric vehicles may increase segment growth. Additionally, it also provides advantages such as durability for low energy losses & high-frequency switches and is ideal for application in chargers, converters, and inverters.
Silicon Carbide (SiC) MOSFET Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Silicon Carbide (SiC) MOSFET Market- Competitive Landscape:
The silicon carbide (SiC) semiconductor devices market can be characterized as a consolidated market. The key players in the SiC semiconductor devices market are constantly focusing on manufacturing novel products to fuel the growing demand. Additionally, the demand is attributed to the ability of the newly introduced products to adapt to particular needs catering to operational efficiency, power conversion, and quick charging. For instance, in December 2021, STMicroelectronics introduced its third generation of STPOWER silicon-carbide (SiC) MOSFETs1, advancing the state-of-the-art in power devices for electric-vehicle (EV) powertrains and other applications where energy efficiency, power density, and reliability are essential target criteria.
Recent Developments:
For instance, in March 2023, ROHM introduced Murata Power Solutions. High-performance silicon carbide (SiC) Schottky Barrier Diodes (SBD) compresses the size of Power Supply Units (PSUs) and improve performance for data center applications.
Key features of the study:
- This proposed research study on silicon carbide (SiC) MOSFET market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
- The report provides the client the latest up-to-date and trending insights about the silicon carbide (SiC) MOSFET market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for silicon carbide (SiC) MOSFET market.
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the silicon carbide (SiC) MOSFET market.
- Impact of COVID-19 on silicon carbide (SiC) MOSFET market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on silicon carbide (SiC) MOSFET market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the silicon carbide (SiC) MOSFET market, we have also included competitive landscape and key innovator analysis for the silicon carbide (SiC) MOSFET market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants who will help users to understand their financial information and strategic initiatives of players operating in the silicon carbide (SiC) MOSFET market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global silicon carbide (SiC) MOSFET market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL SILICON CARBIDE (SIC) MOSFET MARKET KEY PLAYERS
- Mitsubishi Electric Corporation
- ON SEMICONDUCTOR CORPORATION (on semi)
- ALLEGRO MICROSYSTEMS, INC.
- Infineon Technologies AG
- ROHM Co., Ltd.
- WOLFSPEED, INC.
- Toshiba Corporation
- Gene Sic Semiconductor
- TT Electronics plc.
- Powerex Inc.
- FUJI ELECTRIC CO., LTD.
- STMicroelectronics N.V.
GLOBAL SILICON CARBIDE (SIC) MOSFET MARKET, BY COMPONENT
- FET/MOSFET Transistors
- Schottky Diodes
- Integrated Circuits
- Power Modules
- Rectifiers/Diodes
- Others
GLOBAL SILICON CARBIDE (SIC) MOSFET MARKET, BY PRODUCT
- Frequency Devices
- Optoelectronic Devices
- Power Semiconductors
GLOBAL SILICON CARBIDE (SIC) MOSFET MARKET, BY BREAKDOWN VOLTAGE
- Above 1700 V
- 1200 V - 1700 V
- 900 V - 1200 V
- 650 V- 900 V
GLOBAL SILICON CARBIDE (SIC) MOSFET MARKET, BY END-USE
- Data & Communication Devices
- Aerospace & Defense
- Energy & Power
- Automotive
- Medical Devices
- Consumer Electronics
- Others
GLOBAL SILICON CARBIDE (SIC) MOSFET MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA