Press Release

Feb, 22 2024

Advancement of Silicon Carbide Power Semiconductors is Driving the Demand for Global Silicon Carbide Power Semiconductors Market

Silicon carbide power semiconductors refer to the type of semiconductor that contains carbon and silicon and operates at very high voltage and temperature. Silicon carbide power semiconductors can be used in producing a strong and very hard material. Silicon carbide power semiconductors can be implemented in various sectors such as telecommunication, energy and power, automotive, renewable power generation, and in different other areas. They are considered due to higher maximum thermal conductive properties that have widened the area of application. Silicon carbide power semiconductors are devices that are considered high-frequency power devices that are majorly applicable in wireless communications. SiC semiconductor offers ten times the dielectric breakdown field strength, three times the thermal conductivity, and three times the bandgap as compared to silicon semiconductors. The SiC semiconductor has taken over the market because of its high performance and efficiency. The Silicon carbide power semiconductors work at high voltage and current and offer low on-resistance in addition to being efficient at high temperatures. The combination of silicon carbide has thus proved to be a better and optimum choice of semiconductor.

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Data Bridge Market Research analyzes the Global Silicon Carbide Power Semiconductors Market is expected to reach USD 11,508,292.90 thousand by 2031 from USD 1,950,156.00 thousand in 2023, growing with a CAGR of 25.1% in the forecast period of 2024 to 2031. Stricter regulations and consumer demand for reduced energy consumption will drive the market growth.

Key Findings of the Study

Silicon Carbide Power Semiconductors Market

Rising Usage of Electronic Vehicles

The rising usage of electric vehicles acts as a significant driving factor for the global silicon carbide power semiconductors market by leveraging silicon carbide's superior efficiency, thermal performance, and fast-charging capabilities to meet the demands of the burgeoning EV. Furthermore, silicon carbide power semiconductors contribute to the development of faster charging solutions for EVs, addressing one of the key concerns among consumers regarding the practicality of electric vehicles. Hence, all organizations collectively suggest an increasing trend of electronic vehicles in the auto sector. It is expected to play a key role in the growth of global silicon carbide power semiconductors and driving the market growth.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016–2021)

Quantitative Units

Revenue in USD Thousand

Segments Covered

Type (MOSFETS, Schottky Barrier Diodes (SBDs), Bipolar Junction Transistor (BJT), Hybrid Modules, SiC Bare Die, Pin Diode, Junction FET, and Others), Wafer Type (SiC Epitaxial Wafers and Blank SiC Wafers), Voltage Range (301 V to 900 V, 901 V to 1700 V, 1701 V & Above, and Less than 300 V), Wafer Size (2 Inch, 3 Inch and 4 Inch, 6 Inch, and 8 & 12 Inch), Application (Electric Vehicle (EV), Inverters, Power Supplies, Photovoltaics, RF Devices, Industrial Motor Drives, and Others), Vertical (Automotive & Transportation, Data Centers, Industrial, Renewables/Grids, Consumer Electronics, Aerospace & Defense, Medical, and Others)

 

Countries Covered

U.S., Canada, and Mexico, Germany, U.K., France, Italy, Netherlands, Spain, Russia, Switzerland, Turkey, Belgium, Poland, Sweden, Denmark, Norway, Finland, Rest of Europe, China, Japan, India, South Korea, Australia, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, U.A.E, Israel, South Africa, Egypt, Qatar, Kuwait, Bahrain, Oman, and Rest of Middle East and Africa

Market Players Covered

Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), WOLFSPEED, INC. (U.S.), Renesas Electronics Corporation (Japan), Semiconductor Components Industries, LLC (U.S.), Mitsubishi Electric Corporation (Japan), ROHM CO., LTD. (Japan), Qorvo, Inc (U.S.), Nexperia (Neatherland), TOSHIBA ELECTRONIC DEVICES AND STORAGE CORPORATION (U.S.), Allegro MicroSystems, Inc. (U.S.), GeneSiC Semiconductor Inc. (U.S.), Fuji Electric Co., Ltd (Japan), Vishay Intertechnology, Inc.(U.S.), Hitachi Power Semiconductor Device, Ltd., Littelfuse, Inc. (U.S.), Texas Instruments Incorporated. (U.S.), Microchip Technology Inc. (U.S.), Semikron Danfoss (Germany), WeEn Semiconductors (China), Solitron Devices, Inc. (U.S.), SemiQ Inc. (U.S.), Xiamen Powerway Advanced Material (China), MaxPower Semiconductor (Taiwan), among others

Data Points Covered in the Report

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

Segment Analysis

The global silicon carbide power semiconductors market is segmented into six notable segments which are based on type, wafer type, voltage range, wafer size, application, and vertical.

  • On the basis of type, the global silicon carbide power semiconductors market is segmented into MOSFETS, Schottky Barrier Diodes (SBDs), Bipolar Junction Transistor (BJT), hybrid modules, SiC bare die, pin diode, junction FET and others

In 2024, the MOSFETS segment is expected to dominate the global silicon carbide power semiconductors market

In 2024, MOSFETS segment is expected to dominate the market with the market share of 28.28% because of their high efficiency, fast switching speeds, and low on-resistance.

  • On the basis of wafer type, the global silicon carbide power semiconductors market is segmented into SiC epitaxial wafers and blank SiC wafers

In 2024, SiC epitaxial wafer segment is expected to dominate the global silicon carbide power semiconductors market

In 2024, SiC epitaxial wafer segment is expected to dominate the market with the market share of 55.19% because of its superior electrical properties and efficiency.

  • On the basis of voltage range, the global silicon carbide power semiconductors market is segmented into 301 V to 900 V, 901 V to 1700 V, 1701 V & above, and less than 300 V. In 2024, 301 V to 900 V segment is expected to dominate the market with the market share of 44.68%
  • On the basis of wafer size, the global silicon carbide power semiconductors market is segmented into 2 inch, 3 inch and 4 inch, 6 inch and 8 & 12 inch. In 2024, 2 inch, 3 inch and 4 inch segment is expected to dominate the market with the market share of 43.65%
  • On the basis of application, the global silicon carbide power semiconductors market is segmented into Electric Vehicle (EV), inverters, power supplies, photovoltaics, RF devices, industrial motor drives, and others. In 2024, the Electric Vehicles (EV) segment is expected to dominate the market with the market share of 33.53%
  • On the basis of vertical, the global silicon carbide power semiconductors market is segmented into automotive & transportation, data centers, industrial, renewables/grids, consumer electronics, aerospace & defense, medical, and others. In 2024, the automotive and transportation segment is expected to dominate the market with the market share of 28.38%

Major Players

Data Bridge Market Research analyzes Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), WOLFSPEED INC. (U.S.), Renesas Electronics Corporation (Japan), and Semiconductor Components Industries LLC. (U.S.) as the major companies operating in the global silicon carbide power semiconductors market.

Silicon Carbide Power Semiconductors Market

Market Developments

  • In January 2024, STMicroelectronics announced the long term deal with Li Auto for the supply of SiC devices. Through this deal, Li Auto will receive SiC MOSFETs from STMicroelectronics (ST) to support its high-voltage battery electric vehicle (BEV) ambitions in several market segments. This development can enhance the company’s presence in China
  • In August 2023, STMicroelectronics announced that they have signed a contract to supply Silicon Carbide (SiC) power MOSFETs to BorgWarner Inc. STMicroelectronics will provide the newest third-generation 750V silicon carbide (SiC) power MOSFET dice for BorgWarner’s exclusive power module built on the Viper platform. Several present and upcoming electric Volvo Cars are equipped with traction inverter platforms made by BorgWarner, which employ this power module. This deal can expand the company’s presence in automotive market
  • In July 2023, WOLFSPEED, INC. announced that they have signed a supply agreement with Renesas Electronics Corporation for 10-year supply commitment of silicon carbide bare and epitaxial wafers. Wolfspeed's supply of premium silicon carbide wafers will enable Renesas to begin producing silicon carbide power semiconductors on a larger scale beginning in 2025.
  • In December 2022, Renesas Electronics Corporation announced that it had received this year's "Outstanding Asia-Pacific Semiconductor Company Award" from the Global Semiconductor Alliance (GSA). This award and recognition improved the company's image in the market, and it made a positive impact on the growth of the global SiC power semiconductor market.
  • In November 2022, Infineon Technologies AG signed a non-binding Memorandum of Understanding for multi-year supply cooperation for silicon carbide (SiC) semiconductors. Infineon would reserve manufacturing capacity and supply CoolSiC "bare die" chips in the second half of the decade to the direct Tier 1 suppliers of Stellantis. The potential sourcing volume and capacity reservation has a value of significantly more than EUR 1 billion. This development helped the company to grow its financials, and it positively impacted the growth of the global SiC power semiconductor market

Regional Analysis

Based on geography, the market is segmented into U.S., Canada, and Mexico, Germany, U.K., France, Italy, Netherlands, Spain, Russia, Switzerland, Turkey, Belgium, Poland, Sweden, Denmark, Norway, Finland, rest of Europe, China, Japan, India, South Korea, Australia, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, U.A.E, Israel, South Africa, Egypt, Qatar, Kuwait, Bahrain, Oman, and rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

North America is the dominant region in the global silicon carbide power semiconductors market

North America region is expected to dominate the market because of its advanced technological infrastructure, robust investment in research and development, and a significant presence of key market players in the region.

Asia-Pacific is the fastest growing region in the global silicon carbide power semiconductors market

Asia-Pacific region is expected to be the fastest growing region in the market becasuse of rising usage of electronic vehicles.

For more detailed information about the global silicon carbide power semiconductors market report, click here – https://www.databridgemarketresearch.com/pt/reports/global-silicon-carbide-power-semiconductors-market


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