PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1731886
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1731886
Global SiC Power Device Market to Reach US$4.9 Billion by 2030
The global market for SiC Power Device estimated at US$1.8 Billion in the year 2024, is expected to reach US$4.9 Billion by 2030, growing at a CAGR of 18.4% over the analysis period 2024-2030. SiC Diode, one of the segments analyzed in the report, is expected to record a 16.3% CAGR and reach US$1.8 Billion by the end of the analysis period. Growth in the SiC Power Module segment is estimated at 20.6% CAGR over the analysis period.
The U.S. Market is Estimated at US$489.1 Million While China is Forecast to Grow at 23.8% CAGR
The SiC Power Device market in the U.S. is estimated at US$489.1 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 23.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 13.9% and 16.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.6% CAGR.
Global "SiC Power Device" Market - Key Trends & Drivers Summarized
Why Are SiC Power Devices Revolutionizing High-Efficiency Power Conversion?
Silicon carbide (SiC) power devices have emerged as a disruptive force in the global power electronics landscape, offering superior efficiency, thermal performance, and switching speed over traditional silicon-based semiconductors. These wide-bandgap devices are designed to handle higher voltages and operate at elevated temperatures, making them ideal for high-power applications such as electric vehicles (EVs), renewable energy systems, industrial drives, aerospace, and smart grid infrastructure. The fundamental properties of SiC-including a higher breakdown electric field, wider bandgap, and greater thermal conductivity-enable the design of smaller, faster, and more energy-efficient systems. In EVs, for instance, SiC-based MOSFETs and Schottky diodes are used in traction inverters and onboard chargers to significantly improve driving range and reduce charging time. In solar inverters, they reduce power losses and allow higher-frequency operation, minimizing the size of passive components. Compared to traditional silicon IGBTs and diodes, SiC devices offer reduced conduction and switching losses, greater power density, and longer operational lifespans. These attributes are not just improving system performance-they’re redefining what’s technologically and commercially viable in next-generation power management systems.
How Are Material And Fabrication Advances Accelerating SiC Device Adoption?
Rapid advancements in SiC wafer technology, device architecture, and manufacturing processes are playing a pivotal role in driving down costs and improving the performance of SiC power devices. The transition from 4-inch to 6-inch and now 8-inch SiC wafers has significantly improved fabrication yield and economies of scale, making SiC devices more cost-competitive with their silicon counterparts. Innovations such as trench MOSFET structures, JFETs, and hybrid modules with integrated gate drivers are enhancing current handling, voltage blocking, and thermal performance while minimizing on-resistance. Wafer thinning, advanced epitaxial growth techniques, and defect density reduction have improved device reliability and enabled the development of high-voltage SiC modules up to 3.3 kV and beyond. Moreover, new packaging technologies-such as sintered silver, double-sided cooling, and substrate-less modules-are enabling better thermal management and higher integration densities. These advances are complemented by sophisticated simulation tools and AI-assisted design workflows that shorten time-to-market and improve functional predictability. Additionally, collaborations between SiC foundries, equipment manufacturers, and automotive OEMs are fast-tracking industrial validation and accelerating global supply chain readiness. As material purity, processing precision, and scalability improve, SiC is rapidly transitioning from niche to mainstream in high-performance power electronics.
Where Are SiC Power Devices Making The Biggest Industry Impact?
SiC power devices are making deep inroads across industries where power efficiency, compactness, and thermal robustness are mission-critical. The electric vehicle (EV) sector is the largest and fastest-growing consumer of SiC devices, using them in main traction inverters, DC-DC converters, and onboard chargers. Major automotive manufacturers-including Tesla, BYD, Hyundai, and Volkswagen-are integrating SiC modules to achieve longer driving ranges, faster charging, and better thermal efficiency. In the renewable energy sector, particularly solar and wind power, SiC-based inverters improve power conversion efficiency and reduce form factors, making installation and maintenance easier. Industrial applications-such as motor drives, robotics, and uninterruptible power supplies (UPS)-leverage SiC for improved switching behavior and durability in harsh conditions. Aerospace and defense sectors deploy SiC components in satellites, radar systems, and power subsystems where radiation tolerance and reliability are critical. Smart grid systems and high-voltage DC (HVDC) transmission benefit from the high-speed switching and power density offered by SiC-based converters and breakers. Data centers, too, are exploring SiC to improve energy efficiency and reduce cooling needs in power distribution units (PDUs) and server power supplies. These varied applications underscore SiC’s transformative potential across the electrification value chain.
The Growth In The SiC Power Device Market Is Driven By Several Factors That Reflect Electrification Trends, Performance Demands, And Supply Chain Maturity
The global shift toward electrification-especially in transportation and renewable energy-is the most powerful driver propelling the SiC power device market forward. The surging production of electric vehicles has significantly increased demand for high-efficiency inverters and fast-charging solutions, where SiC outperforms traditional silicon components. Government mandates and incentives promoting clean mobility and carbon-neutral targets are reinforcing this adoption, particularly in China, Europe, and the U.S. The growing need for high-voltage, compact, and reliable power systems in solar farms, wind turbines, and grid storage is also accelerating SiC deployment. On the supply side, the expansion of foundry capabilities, notably by companies like Wolfspeed, STMicroelectronics, Rohm, Infineon, and ON Semiconductor, is improving material availability and cost efficiency. Additionally, rising investments in SiC-based R&D and vertical integration strategies are enhancing wafer quality, device consistency, and long-term supply security. Thermal and power density demands from data centers, aerospace systems, and industrial motors further drive SiC’s relevance, especially as conventional silicon hits performance ceilings. Meanwhile, the maturation of design ecosystems-including simulation software, drive circuitry, and training resources-is lowering adoption barriers for OEMs and designers. Together, these trends-involving electrification goals, performance thresholds, regulatory tailwinds, and manufacturing readiness-are shaping a vibrant, high-growth trajectory for the global SiC power device market.
SCOPE OF STUDY:
The report analyzes the SiC Power Device market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Product Type (SiC Diode, SiC Power Module, SiC MOSFETs, SiC Gate Driver); Application (Inverter / Converter Application, Power Supply Application, Motor Drive Application, Photovoltaic / Energy Storage Systems Application, Flexible AC Transmission Systems Application, RF Devices & Cellular Base Stations Application, Other Applications); End-Use (Aerospace & Defense End-Use, Consumer Electronics End-Use, IT & Telecommunication End-Use, Automotive & Transportation End-Use, Other End-Uses)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 32 Featured) -
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