Market Research Report
Silicon Carbide Market by Device (SiC Discrete Device and Bare Die), Wafer Size (4 Inch, 6 Inch and Above, and 2 Inch), Application (Power Supplies and Inverters and Industrial Motor Drives), Vertical, and Region - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||927104|
|Published||Content info||145 Pages
Delivery time: 1-2 business days
|Silicon Carbide Market by Device (SiC Discrete Device and Bare Die), Wafer Size (4 Inch, 6 Inch and Above, and 2 Inch), Application (Power Supplies and Inverters and Industrial Motor Drives), Vertical, and Region - Global Forecast to 2025|
|Published: February 28, 2020||Content info: 145 Pages||
"Silicon carbide market is expected to grow at CAGR of 19.3% from 2020 to 2025."
The global silicon carbide market size is estimated to grow from USD 749 million in 2020 to USD 1,812 million by 2025, at a CAGR of 19.3%. Increasing demand for SiC devices in the power electronics industry is one of the key factors fueling the growth of this market.
Among devices, the market for SiC bare die is expected to grow at a higher CAGR during the forecast period. The growth is projected due to the rising adoption of bare die in automotive, power electronics, and defense industries.
Among wafer size, the 6 inch and above segment is projected to lead the silicon carbide market and with the highest CAGR from 2020 to 2025. The growth is attributed to an increase in R&D investments and a shift of power electronics manufacturers.
EV motor drives application of silicon carbide is expected to grow at the highest CAGR during the forecast period. The growth is attributed to increasing silicon carbide device penetration in electric vehicles (EVs), as it helps in better battery management and reduces weight and sizes. As the sale of EVs is increasing day-by-day, it increases the growth of the EV motor drives too.
The automotive vertical is expected to grow at the highest CAGR during the forecast period. SiC devices such as SiC diode, MOSFET, module, and bare die has the ability to increase efficiency and reduce charging time of electric and hybrid electric vehicles. Moreover, they are available in compact sizes and lightweight.
North America is the second-largest market of silicon carbide due to the increasing use of silicon carbide devices in power supplies and inverters application. The electric vehicle motor drives segment is expected to reinforce the silicon carbide market during the forecast period. Moreover, the presence of key players in the region also supports the growth of the market.
Major players profiled in this report:
This report offers detailed insights into the silicon carbide market based on device, wafer size, application, vertical, and region. Based on the device, the silicon carbide market has been segmented into SiC Discrete Device and Bare Die. Based on wafer size, the market has been divided into 4 Inch, 6 Inch and Above, and 2 Inch. Based on application, the silicon carbide market has been classified into Power Supplies and Inverters, Industrial Motor Drives, Solar Power Systems, Power Grid Devices, Lighting Control Systems, Wind Turbines, Flexible AC Transmission Systems (FACTS), EV Charging Stations, Flame Detectors, Electronic Combat Systems, High-Voltage Direct Current Systems (HVDC), EV Motor Drives, RF Devices & Cellular Base Stations, and Others. Based on vertical, the market is segmented into Power Electronics, Energy & Power, Renewable Power Generation, Automotive, Defense, Telecommunication, and Others. The market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
The report is expected to help market leaders/new entrants in this market in the following ways:
(Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view)*
Details on Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view might not be captured in case of unlisted companies.