The market for silicon carbide wafers is witnessing robust growth driven by increasing demand for power electronics, renewable energy systems, and electric vehicles. Silicon carbide wafers offer advantages such as higher thermal conductivity, higher breakdown voltage, and lower switching losses compared to traditional semiconductors. The Asia-Pacific region dominates the market, with countries like China, Japan, and Taiwan leading in terms of production and consumption. Ongoing technological advancements and research efforts are aimed at improving the quality and performance of silicon carbide wafers to meet the evolving industry requirements.
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Data Bridge Market Research analyses that the Silicon Carbide Wafers Market is expected to grow with a CAGR of 22.3% in the forecast period of 2022 to 2029 and is expected to reach USD 4,385,550.41 thousand by 2029. The increasing adoption of electric vehicles (EVs) worldwide is a significant driver of the silicon carbide wafers market. Silicon carbide wafers are used in power electronics and semiconductor devices that enable efficient power conversion in EVs, leading to improved performance and longer driving ranges.
Increasing applications in power electronics are expected to drive the market's growth rate
The rapid growth of power electronics applications across industries such as automotive, aerospace, and telecommunications is fueling the demand for silicon carbide wafers. These wafers are essential components in power semiconductor devices like diodes, transistors, and thyristors. Compared to traditional semiconductor materials, silicon carbide wafers offer higher efficiency, faster switching speeds, and better thermal management capabilities. This enables more efficient power management and control, leading to improved performance and energy savings in various electronic systems and applications.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Wafer Size (2 Inch, 4 Inch, 6-Inch and Above), Device (SiC Discrete Devices, SiC Bare Die), Application (Power Grid Device, RF Device & Cellular Base Station, Flexible AC Transmission Systems, High-Voltage, Direct Current, Electronic Combat System, Lighting Control, Power Supply and Inverter, Industrial Motor Drive, EV Charging, EV Motor Drive, Solar Energy, Wind Energy, Flame Detector, Others), Industry (Telecommunication, Energy and Power, Power Electronics, Automotive, Renewable Power Generation, Defense, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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WOLFSPEED, INC. (U.S.), II-VI Incorporated (U.S.), MTI Corporation (U.S.), CETC Solar Energy Holdings Co., Ltd. (China), American Elements (U.S.), STMicroelectronics (Switzerland), TankeBlue CO., LTD. (China), Synlight (Germany), SICC (Taiwan), PI-KEM Limited (U.K.), Entegris (U.S.), SHOWA DENKO K.K. (Japan), Atecom Technology Co., Ltd (Taiwan), Latent Technologies (China), ROHM CO., LTD. (Japan), Fuji Electric Co., Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Texas Instruments Incorporated (U.S.), Infineon Technologies AG (Germany), SEMIKRON (Germany), SK siltron Co., Ltd. (A Subsidiary of SK HOLDINGS CO., LTD.) (South Korea), Xiamen Powerway Advanced Material Co., Ltd. (China), Homeray Material Technology (China), Renesas Electronics Corporation (Japan), TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan), WeEn Semiconductors (Netherlands), Microchip Technology Inc. (U.S.), Robert Bosch GmbH (Germany), Semiconductor Components Industries, LLC (U.S.), Ferrotec Holdings Corporation (Japan), Alpha Power Solutions Ltd (U.K.), SiCrystal GmbH (Germany)
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Data Points Covered in the Report
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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.
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Segment Analysis:
The silicon carbide wafers market is segmented on the basis of wafer size, device, application and industry.
- On the basis of wafer size, the market is segmented into 2-inch 4-inch, 6-inch and above. 4-inch segment is expected to dominate the market with a CAGR of 23.6% in the forecast period of 2022 to 2029 due to this size of silicon carbide wafers can even work at huge operating temperature which demands huge amount of silicon carbide wafers in the market.
- On the basis of device, the market is segmented into sic discrete devices and sic bare die. Sic discrete devices segment is expected to dominate the market with a CAGR of 24.2% in the forecast period of 2022 to 2029 due to properties of switching at higher frequencies that also improve efficiency.
In 2022, sic discrete devices segment is dominating the device segment of the global silicon market
In 2022, sic discrete devices segment is expected to dominate the market owing to the properties of switching at higher frequencies that also improve efficiency with a CAGR of 24.2% in the forecast period of 2022 to 2029.
- On the basis of application, the market is segmented into power grid device, industrial motor drive, EV motor drive, RF device and cellular base station, solar energy, wind energy, flexible AC transmission systems, high-voltage, direct current, electronic combat system, lighting control, EV charging, power supply and inverter, flame detector, and others. The power grid device segment is expected to dominate the market with a CAGR of 28.2% in the forecast period of 2022 to 2029 due to the properties that give high security and safety to end-users which enhance the use of the silicon carbide wafers in the market.
In 2022, power grid device segment is expected to dominate the application segment of the silicon wafers market.
In 2022, Power grid device segment is expected to dominate the application segment of the silicon wafers market due to the properties that give high security and safety in end-users which enhance the use of silicon carbide wafers in the market with a CAGR of 28.2% in the forecast period of 2022 to 2029
- On the basis of industry, the market is segmented into telecommunication, energy and power, renewable power generation, automotive, power electronics, defense and others. Telecommunication segment is expected to dominate the market with a CAGR of 24.2% in the forecast period of 2022 to 2029 due to the growing usage of products that saves huge costs which boosts the demand of the silicon carbide wafers market.
Major Players
Data Bridge Market Research recognizes the following companies as the major silicon carbide wafers market players in silicon carbide wafers market are STMicroelectronics (Switzerland), TankeBlue CO., LTD. (China), Synlight (Germany), SICC (Taiwan), PI-KEM Limited (U.K.), Entegris (U.S.), SHOWA DENKO K.K. (Japan), Atecom Technology Co., Ltd (Taiwan), Latent Technologies (China), ROHM CO., LTD. (Japan)
Market Development
- In 2022, the New Energy and Industrial Technology Development Organization selected Showa Denko to receive funding for an 8-inch SiC wafer development project.
- In 2022, in its high-performance, all-electric Lucid Air, Lucid Motors announced that Wolfspeed's Silicon Carbide power device solutions had been implemented. A multiyear agreement was also made between the two parties for Wolfspeed to manufacture and supply Silicon Carbide devices.
- In 2021, in order to generate leads and establish new business connections, American Elements sponsored the "An Advanced Material Show" in the UK, which attracted all the major players in the battery cells, vehicle electrification, and systems expo industries.
- In 2021, the introduction of Wolfspeed WolfPACK power modules was announced by WOLFSPEED, INC. The business increased the efficiency of the solar and fast charging markets for electric vehicles with this new product.
- In 2020, SEMIKRON had announced the proposal of SEMIKRON Young Engineer Award as well as for SEMIKRON Innovation Award that is to be honored by SEMIKRON Foundation.
- In 2020, Infineon Technologies AG had announced the acquisition with the semiconductor corporation named as Cypress which helps in offering the consumer’s comprehensive portfolio.
Regional Analysis
Geographically, the countries covered in the silicon carbide wafers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in silicon carbide wafers market during the forecast period 2022 to 2029
The Asia-Pacific region is set to dominate the global silicon carbide wafers market, primarily due to its significant presence in the semiconductor industry. Countries like China, Japan, and Taiwan hold a prominent position in semiconductor manufacturing and consumption, leading to a high adoption of silicon carbide wafers in the region. China, in particular, is expected to contribute the most substantial share in the market, driven by its robust production and consumption of semiconductors and electronics.
North America is estimated to be the fastest growing region in silicon carbide wafers market the forecast period 2022 to 2029
The U.S. is projected to hold the second-largest market share in the global silicon carbide wafers market, primarily driven by the region's significant growth in renewable energy production. As the country focuses on increasing the share of renewable energy sources in its energy mix, the demand for silicon carbide wafers, which are crucial for efficient power conversion in renewable energy systems, is expected to rise. This trend contributes to the anticipated market growth in the U.S.
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