Silicon Carbide Market Overview 2021 – Industry Overview, Competitive Players and Forecast 2028 | Reports and data

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Silicon Carbide Market Size – USD 2.90 Billion in 2021, Growth – at a CAGR of 16.2%, Trend – Growing demand for electric and hybrid vehicles.

NEW YORK CITY, NY, USA, April 15, 2022 /EINPresswire.com/ — The silicon carbide (SiC) market size is expected to reach USD 10.91 billion in 2030 and register a CAGR of 16.2% on the forecast period, according to the latest Reports and Data report. Growing demand for SiC devices in power electronics and shrinking size of SiC-enabled devices are the major factors driving the market revenue over the forecast period.

Growing demand for a cleaner environment, reduced global warming and less reliance on fossil fuels are increasing the demand for hybrid and electric vehicles that offer higher fuel efficiency, lower emissions and can be digitally well-connected than conventional vehicles. traditional vehicles. The demand for SiC devices is increasing with the rise in demand for electric vehicles (EVs) as they are capable of increasing the efficiency and range of EVs and reducing weight and size, thereby increasing power density overall vehicle electronics. SiC devices are increasingly being used in high voltage power converters and their higher thermal conductivity makes them ideal for use at elevated temperatures with significantly lower on-state resistance and switching losses, allowing faster heat dissipation. Moreover, the power conversion requirement of electric vehicles is optimally met by SiC devices, which helps to achieve maximum efficiency and drive the market growth.

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Some major companies operating in the global market include STMicroelectronics NV, Infineon Technologies AG, Rohm Co Ltd, Wolfspeed, ON SemiconductorCorporation, Fuji Electric Co., Ltd., Renesas Electronics Corporation, Microchip Technology Inc., Toshiba Corporation, General Electric Company, GeneSiC Semiconductor Inc., ESD-SIC BV, Entegris, Inc., Powerex Inc. and SEMI Co. Ltd.

SiC semiconductors, capable of operating at high temperatures, are ideal for applications such as on-board charging and inverters used in the case of electric and hybrid vehicles for fast charging solutions. They ensure that electric vehicles can travel long distances and recharge in a reasonable time with maximum efficiency. Moreover, the support and initiative of the governments of various countries contribute to the development and improvement of this essential technology. For example, in April 2019, the University of Arkansas received a $1.5 million grant from the U.S. Department of Energy, as assistance in the development of SiC-based power modules from new generation designed for hybrids and electric vehicles. The advantage of SiC semiconductors is that they improve the overall efficiency of electric vehicles by increasing range and reducing recharging time, which is expected to drive the market growth over the forecast period.

However, the high material and manufacturing cost of silicon carbide is hampering the market growth as SiC is manufactured under high temperature conditions which makes it more expensive than raw silicon. Also, the use of gallium nitride as an alternative compound with similar properties of bandwidth, power efficiency, high temperature durability, etc. further hinders the growth of the market over the forecast period.

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Some highlights of the report

The black silicon carbide segment is expected to account for the largest market share over the forecast period due to its applications such as grinding and polishing of titanium alloys, stainless steel, jewelry, etc. for its high strength and low density. Additionally, as an excellent deoxidizer, it helps maintain the composition and quality of steel during manufacturing and processing, which is driving the growth of the segment.

The automotive segment is expected to account for the largest share of market revenue over the forecast period owing to the growing popularity and increasing demand for electric vehicles globally and application of power electronic devices SiC with high temperature load capability, which greatly increases the range an EV can travel. . Additionally, the demand for clean low carbon dioxide environment globally is expected to drive the growth of the segment.

Asia-Pacific is expected to account for the largest market share over the forecast period owing to rising demand for SiC devices for advanced and latest technologies across various industries such as power, electronics, automotive, defense, renewable energy and others in the region. Moreover, increase in infrastructure development leads to increase in demand for steel, which consequently increases the demand for SiC, which is a raw material for refractories and acts as a deoxidizing agent in the manufacture of steel. . Additionally, the region is the world’s largest market for semiconductors, further driving the market growth in the region.

In February 2022, Infineon Technologies AG announced the launch of power semiconductors with CoolSiC MOSFET and XT technology in the XHP 2 package for rail services with an increase in energy efficiency and a focus on green mobility. This will help maintain the trend of reducing dependence on fossil fuels, with environmentally friendly electrical solutions.

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For this report, Reports and Data has segmented the silicon carbide market based on product, device, wafer size, application, end-use, and region.

Product Outlook (Revenue, USD Billion; 2019-2030)

Green silicon carbide

black silicon carbide

Others

Devices Outlook (Revenue, USD Billion; 2019-2030)

Discrete SiC device

SiC diode

Sic MOSFET

Bare matrix SiC

SiC module

Wafer Size Outlook (Revenue, USD Billion; 2019-2030)

2 inches

4 inches

6 inches and over.

Application Outlook (Revenue, USD Billion; 2019-2030)

Electrical network devices

High Voltage DC System

Power inverter

EV charging station

RF devices and cellular base station

Flexible AC transmission system

Industrial engines

Lighting control systems

Solar power systems

Wind energy

Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Steel

Automotive

Energy and Power

Electrical and Electronic

Defense and Aeronautics

Others

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Regional Outlook (Revenue, USD Billion; 2019-2030)

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

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