SiC Power Semiconductor Market Analysis
The silicon
carbide (SiC) power semiconductors market
is projected to touch USD 1,359.2 million at a healthy 26.3% CAGR between 2018-
2023, states the recent Market Research Future (MRFR) analysis. Silicon
carbide, simply put, is a semiconductor that is made by the combination of
carbon and silicon. This has a certain level of hardness that is akin to a
diamond that allows SiC semiconductors to function in extreme conditions.
Various factors are
propelling the global SiC power semiconductor market share. According to the
recent MRFR report, such factors include growing demand for power electronics
across different industry verticals like defense, medical, and aerospace, rise
in the number of modern applications that need SiC power devices, the growing
need for power efficiency in industrial applications and automotive
electronics, and increasing number of charging infrastructure, renewable power,
and rail traction.
On the contrary,
high wafer cost needed to produce silicon carbide-based semiconductors,
challenges related to designing, and the impact of the on-going COVID-19
pandemic are factors that may limit the global SiC power semiconductor market
growth over the forecast period.
SiC Power Semiconductor Market Key Players
Eminent contenders profiled in the global SiC power semiconductor market report include Infineon Technologies AG, ON Semiconductor, Cree Inc., STMicroelectronics NV, Mitsubishi Electric Corporation, and others.
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SiC
Power Semiconductor Market Regional Analysis
By region, the global silicon carbide
power semiconductors market covers the growth
opportunities and recent trends across Europe, North America, the Asia Pacific
(APAC), & the Rest of the World (RoW). Among these, the APAC region will
spearhead the market over the forecast period. Expansion of LTE and 4G network,
the proliferation of cellular base station and RF, increase in energy
efficiency projects, favorable initiatives by the government to develop solar
power, and massive investments from key players are adding to the SiC
power semiconductor market growth in the region.
The global SiC power
semiconductor market in Europe is predicted to hold the second-largest share
over the forecast period. Substantial demand from the automotive industry,
booming automotive industry, and the presence of top players are adding to the
global SiC power semiconductor market growth in the region. Germany holds the
utmost share in the market.
The global SiC power
semiconductor market in North America is predicted to have healthy growth over
the forecast period. High investments on research and development activities,
coupled with the presence of top silicon carbide manufacturers, are adding to
the global SiC power semiconductor market growth in the region.
The global SiC power
semiconductor market in the Rest of the World is predicted to have sound growth
over the forecast period.
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SiC
Power Semiconductor Market Segmentation
The MRFR report
highlights an inclusive segmental analysis of the global SiC power
semiconductor market based on end user, application, wafer size, and device.
By device, the
global SiC power semiconductor market is segmented into SiC bare die devices
and SiC discrete devices. The SiC discrete devices are again segmented into
module, diode, and MOSFET. Of these, the module segment will lead the market
over the forecast period.
By wafer size, the
global SiC power semiconductor market is segmented into 6-inch, 4-inch, and
2-inch. Of these, the 4-inch segment will dominate the market over the forecast
period.
By application, the
global SiC power semiconductor market is segmented into railway traction,
industrial motor drives, EV motors, power grids, power supply and inverter, RF
devices and cellular base stations, and others. Of these, the power supply and
inverter segment will have a major share in the market over the forecast
period.
By end user, the
global SiC power semiconductor market is segmented into electronics,
industrial, automotive, energy and power, telecommunication, and others. Of
these, the automotive segment will command the largest share in the market over
the forecast period.
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