Silicon carbide (SiC) power semiconductors are a class of semiconductor devices that utilize silicon carbide as the semiconductor material, replacing traditional silicon. These devices are primarily employed in power electronics applications due to several advantageous properties of silicon carbide over silicon, including higher breakdown voltage, lower switching losses, and better performance at higher operating temperatures.
The main types of silicon carbide power semiconductors include metal-oxide-semiconductor field-effect transistors (MOSFETs), hybrid modules, schottky barrier diodes (SBDs), insulated gate bipolar transistors (IGBTs), bipolar junction transistors (BJTs), pin diodes, junction FETs (JFETs), and other specialized types. MOSFETs are three-terminal devices where current flows between two terminals (source and drain), with the third terminal (gate) controlling the current flow. Silicon carbide power semiconductors are categorized by various voltage ranges such as 301-900 V, 901-1700 V, and above 1701 V, and are available in different wafer types including SiC epitaxial wafers and blank SiC wafers. These semiconductors find applications across diverse fields including electric vehicles (EVs), photovoltaics, power supplies, industrial motor drives, electric vehicle charging infrastructure, RF devices, and other sectors. They cater to various end-users such as industrial, automotive, energy and power, information technology and telecom, transportation, aerospace and defense, among others.
The silicon carbide power semiconductors are metal-oxide-semiconductor market research report is one of a series of new reports that provides silicon carbide power semiconductors are metal-oxide-semiconductor market statistics, including silicon carbide power semiconductors are metal-oxide-semiconductor industry global market size, regional shares, competitors with a silicon carbide power semiconductors are metal-oxide-semiconductor market share, detailed silicon carbide power semiconductors are metal-oxide-semiconductor market segments, market trends, and opportunities, and any further data you may need to thrive in the silicon carbide power semiconductors are metal-oxide-semiconductor industry. This silicon carbide power semiconductors are metal-oxide-semiconductor research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The silicon carbide power semiconductor market size has grown exponentially in recent years. It will grow from $0.99 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 26%. The growth observed in the historic period can be attributed to several factors, including the utilization of SiC power devices in electric vehicle charging systems, their ability to operate efficiently at higher temperatures, the expanding consumer electronics industry, the adoption of advanced electronic components for power applications, and the growth of the automotive and renewable energy sectors.
The silicon carbide power semiconductor market size is expected to see exponential growth in the next few years. It will grow to $3.16 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing prevalence of SiC discrete devices, rising demand for consumer electronics and wireless communications, greater penetration of electric vehicles, growing demand for energy-efficient battery-powered portable devices, and the advancement of SiC power semiconductors. Major trends expected in this period include technological advancements, the emergence of new competitors in technology, a surge in innovations, product innovations, and significant technology launches.
The silicon carbide power semiconductor market is poised for growth driven by the increasing adoption of electric vehicles (EVs). Electric vehicles use electric motors for propulsion and are gaining traction due to technological advancements, supportive regulations, consumer demand, and industry investments. Silicon carbide (SiC) power semiconductors are crucial in EVs for their ability to enhance efficiency, reduce weight, and improve overall performance compared to traditional silicon-based semiconductors. This trend is fueling the demand for SiC power semiconductors as EV manufacturers strive to optimize vehicle performance and enhance the driving experience. For example, the Department of Energy reported a significant rise in sales of new light-duty plug-in electric vehicles, nearly doubling from 308,000 in 2020 to 608,000 in 2021, highlighting the expanding penetration of electric vehicles and driving growth in the silicon carbide power semiconductor market.
Leading companies in the silicon carbide power semiconductor market are concentrating on innovation, particularly in developing products such as silicon carbide MOSFETs, known for their high performance and reliability in industrial applications. Silicon carbide MOSFETs (Metal-Oxide-Semiconductor Field-Effect Transistors) utilize SiC as the semiconductor material, offering superior characteristics. For instance, Nexperia B.V., a Netherlands-based semiconductor company, introduced discrete 1200 V MOSFETs in November 2023, leveraging silicon carbide technology. These advanced devices are designed to optimize efficiency and reliability, featuring ultra-low switching losses and enhanced thermal performance to ensure robust operation under challenging conditions.
In November 2021, Qorvo Inc., a US-based company specializing in products for wireless, wired, and power markets, acquired UnitedSiC Inc. to strengthen its position in the power semiconductor market. This strategic acquisition enhances Qorvo's portfolio with advanced silicon carbide (SiC) devices and integrates UnitedSiC's expertise in high-performance power management solutions. UnitedSiC Inc., based in the US, is renowned for manufacturing silicon carbide power semiconductors, aligning with Qorvo's goal to lead in innovative power semiconductor technologies.
Major companies operating in the silicon carbide power semiconductor market are Samsung Electronics Co. Ltd., Panasonic Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, Eaton Corporation plc, Texas Instruments Inc., STMicroelectronics N.V., Infineon Technologies AG, BorgWarner Inc., NXP Semiconductors N.V., Renesas Electronics Corporation, Danfoss A/S, Microchip Technology Inc., ON Semiconductor Corporation, Fuji Electric Co. Ltd., ROHM Co. Ltd., Littelfuse Inc., Microsemi Corporation, Wolfspeed Inc., GeneSiC Semiconductor Inc.
Asia-Pacific was the largest region in the silicon carbide power semiconductor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the silicon carbide power semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the silicon carbide power semiconductor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The silicon carbide power semiconductor market consists of sales of metal-oxide-semiconductor field-effect transistors (MOSFETs), junction field-effect transistors (JFETs), and insulated gate bipolar transistors (IGBTs). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The main types of silicon carbide power semiconductors include metal-oxide-semiconductor field-effect transistors (MOSFETs), hybrid modules, schottky barrier diodes (SBDs), insulated gate bipolar transistors (IGBTs), bipolar junction transistors (BJTs), pin diodes, junction FETs (JFETs), and other specialized types. MOSFETs are three-terminal devices where current flows between two terminals (source and drain), with the third terminal (gate) controlling the current flow. Silicon carbide power semiconductors are categorized by various voltage ranges such as 301-900 V, 901-1700 V, and above 1701 V, and are available in different wafer types including SiC epitaxial wafers and blank SiC wafers. These semiconductors find applications across diverse fields including electric vehicles (EVs), photovoltaics, power supplies, industrial motor drives, electric vehicle charging infrastructure, RF devices, and other sectors. They cater to various end-users such as industrial, automotive, energy and power, information technology and telecom, transportation, aerospace and defense, among others.
The silicon carbide power semiconductors are metal-oxide-semiconductor market research report is one of a series of new reports that provides silicon carbide power semiconductors are metal-oxide-semiconductor market statistics, including silicon carbide power semiconductors are metal-oxide-semiconductor industry global market size, regional shares, competitors with a silicon carbide power semiconductors are metal-oxide-semiconductor market share, detailed silicon carbide power semiconductors are metal-oxide-semiconductor market segments, market trends, and opportunities, and any further data you may need to thrive in the silicon carbide power semiconductors are metal-oxide-semiconductor industry. This silicon carbide power semiconductors are metal-oxide-semiconductor research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The silicon carbide power semiconductor market size has grown exponentially in recent years. It will grow from $0.99 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 26%. The growth observed in the historic period can be attributed to several factors, including the utilization of SiC power devices in electric vehicle charging systems, their ability to operate efficiently at higher temperatures, the expanding consumer electronics industry, the adoption of advanced electronic components for power applications, and the growth of the automotive and renewable energy sectors.
The silicon carbide power semiconductor market size is expected to see exponential growth in the next few years. It will grow to $3.16 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing prevalence of SiC discrete devices, rising demand for consumer electronics and wireless communications, greater penetration of electric vehicles, growing demand for energy-efficient battery-powered portable devices, and the advancement of SiC power semiconductors. Major trends expected in this period include technological advancements, the emergence of new competitors in technology, a surge in innovations, product innovations, and significant technology launches.
The silicon carbide power semiconductor market is poised for growth driven by the increasing adoption of electric vehicles (EVs). Electric vehicles use electric motors for propulsion and are gaining traction due to technological advancements, supportive regulations, consumer demand, and industry investments. Silicon carbide (SiC) power semiconductors are crucial in EVs for their ability to enhance efficiency, reduce weight, and improve overall performance compared to traditional silicon-based semiconductors. This trend is fueling the demand for SiC power semiconductors as EV manufacturers strive to optimize vehicle performance and enhance the driving experience. For example, the Department of Energy reported a significant rise in sales of new light-duty plug-in electric vehicles, nearly doubling from 308,000 in 2020 to 608,000 in 2021, highlighting the expanding penetration of electric vehicles and driving growth in the silicon carbide power semiconductor market.
Leading companies in the silicon carbide power semiconductor market are concentrating on innovation, particularly in developing products such as silicon carbide MOSFETs, known for their high performance and reliability in industrial applications. Silicon carbide MOSFETs (Metal-Oxide-Semiconductor Field-Effect Transistors) utilize SiC as the semiconductor material, offering superior characteristics. For instance, Nexperia B.V., a Netherlands-based semiconductor company, introduced discrete 1200 V MOSFETs in November 2023, leveraging silicon carbide technology. These advanced devices are designed to optimize efficiency and reliability, featuring ultra-low switching losses and enhanced thermal performance to ensure robust operation under challenging conditions.
In November 2021, Qorvo Inc., a US-based company specializing in products for wireless, wired, and power markets, acquired UnitedSiC Inc. to strengthen its position in the power semiconductor market. This strategic acquisition enhances Qorvo's portfolio with advanced silicon carbide (SiC) devices and integrates UnitedSiC's expertise in high-performance power management solutions. UnitedSiC Inc., based in the US, is renowned for manufacturing silicon carbide power semiconductors, aligning with Qorvo's goal to lead in innovative power semiconductor technologies.
Major companies operating in the silicon carbide power semiconductor market are Samsung Electronics Co. Ltd., Panasonic Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, Eaton Corporation plc, Texas Instruments Inc., STMicroelectronics N.V., Infineon Technologies AG, BorgWarner Inc., NXP Semiconductors N.V., Renesas Electronics Corporation, Danfoss A/S, Microchip Technology Inc., ON Semiconductor Corporation, Fuji Electric Co. Ltd., ROHM Co. Ltd., Littelfuse Inc., Microsemi Corporation, Wolfspeed Inc., GeneSiC Semiconductor Inc.
Asia-Pacific was the largest region in the silicon carbide power semiconductor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the silicon carbide power semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the silicon carbide power semiconductor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The silicon carbide power semiconductor market consists of sales of metal-oxide-semiconductor field-effect transistors (MOSFETs), junction field-effect transistors (JFETs), and insulated gate bipolar transistors (IGBTs). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Silicon Carbide Power Semiconductor Market Characteristics3. Silicon Carbide Power Semiconductor Market Trends And Strategies32. Global Silicon Carbide Power Semiconductor Market Competitive Benchmarking33. Global Silicon Carbide Power Semiconductor Market Competitive Dashboard34. Key Mergers And Acquisitions In The Silicon Carbide Power Semiconductor Market
4. Silicon Carbide Power Semiconductor Market - Macro Economic Scenario
5. Global Silicon Carbide Power Semiconductor Market Size and Growth
6. Silicon Carbide Power Semiconductor Market Segmentation
7. Silicon Carbide Power Semiconductor Market Regional And Country Analysis
8. Asia-Pacific Silicon Carbide Power Semiconductor Market
9. China Silicon Carbide Power Semiconductor Market
10. India Silicon Carbide Power Semiconductor Market
11. Japan Silicon Carbide Power Semiconductor Market
12. Australia Silicon Carbide Power Semiconductor Market
13. Indonesia Silicon Carbide Power Semiconductor Market
14. South Korea Silicon Carbide Power Semiconductor Market
15. Western Europe Silicon Carbide Power Semiconductor Market
16. UK Silicon Carbide Power Semiconductor Market
17. Germany Silicon Carbide Power Semiconductor Market
18. France Silicon Carbide Power Semiconductor Market
19. Italy Silicon Carbide Power Semiconductor Market
20. Spain Silicon Carbide Power Semiconductor Market
21. Eastern Europe Silicon Carbide Power Semiconductor Market
22. Russia Silicon Carbide Power Semiconductor Market
23. North America Silicon Carbide Power Semiconductor Market
24. USA Silicon Carbide Power Semiconductor Market
25. Canada Silicon Carbide Power Semiconductor Market
26. South America Silicon Carbide Power Semiconductor Market
27. Brazil Silicon Carbide Power Semiconductor Market
28. Middle East Silicon Carbide Power Semiconductor Market
29. Africa Silicon Carbide Power Semiconductor Market
30. Silicon Carbide Power Semiconductor Market Competitive Landscape And Company Profiles
31. Silicon Carbide Power Semiconductor Market Other Major And Innovative Companies
35. Silicon Carbide Power Semiconductor Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Silicon Carbide Power Semiconductor Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on silicon carbide power semiconductor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for silicon carbide power semiconductor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The silicon carbide power semiconductor market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Metal-Oxide Semiconductor Field-Effect Transistors (MOSFETs); Hybrid Modules; Schottky Barrier Diodes (SBDS); Insulated Gate Bipolar Transistors (IGBT); Bipolar Junction Transistor (BJT); Pin Diode; Junction FET (JFET); Other Types2) By Voltage Range: 301-900 V; 901-1700 V; Above 1701 V
3) By Wafer Type: SiC Epitaxial Wafers; Blank SiC Wafers
4) By Application: Electric Vehicles (EV); Photovoltaics; Power Supplies; Industrial Motor Drives; Electric Vehicles Charging Infrastructure; RF Devices; Other Applications
5) By End-User: Industrial; Automotive; Energy And Power; Information Technology And Telecom; Transportation; Aerospace And Defense; Other End-Users
Key Companies Mentioned: Samsung Electronics Co. Ltd.; Panasonic Corporation; Mitsubishi Electric Corporation; Toshiba Corporation; Eaton Corporation plc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Samsung Electronics Co. Ltd.
- Panasonic Corporation
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Eaton Corporation plc
- Texas Instruments Inc.
- STMicroelectronics N.V.
- Infineon Technologies AG
- BorgWarner Inc.
- NXP Semiconductors N.V.
- Renesas Electronics Corporation
- Danfoss A/S
- Microchip Technology Inc.
- ON Semiconductor Corporation
- Fuji Electric Co. Ltd.
- ROHM Co. Ltd.
- Littelfuse Inc.
- Microsemi Corporation
- Wolfspeed Inc.
- GeneSiC Semiconductor Inc.
Methodology
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