Silicon Carbide (SiC) Market Is Likely to Upsurge at USD 3,212.42 Million Globally by 2030, Size, Share, Trends, Demand, Growth and Opportunity Analysis
Data Bridge Market Research analyses that the silicon carbide (SiC) market, which was USD 1,035.65 million in 2022, would rocket up to USD 3,212.42 million by 2030, and is expected to undergo a CAGR of 15.20% during the forecast period of 2023 to 2030.
Silicon Carbide (SiC) market Market research report delivers widespread analysis of the market structure along with the estimations of the various segments and sub-segments of the market. This industry report also contains detailed profiles of market’s major manufacturers and importers who are dominating the market. Furthermore, the statistical and numerical data such as facts and figures are represented very precisely in the market report by using charts, tables, or graphs. The transformation in market landscape is mainly observed due to the moves of key players or brands which include developments, product launches, joint ventures, mergers, and acquisitions that in turn change the view of the global face of the industry.
Business intelligence is an essential aspect when it comes to accomplish thorough and wide-ranging market insights and the same is applied for building Silicon Carbide (SiC) market Market research report. Commitment, quality, dedication, and transparency in the market research report are all followed throughout to give the best service to the clients. Not to mention, this report delivers an in-depth study with respect to present and upcoming opportunities which shed light on the future investment in the market. So, to achieve competitive advantage and to thrive in the market, go for the comprehensive Silicon Carbide (SiC) market Market report.
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Some of the major players operating in the silicon carbide (SiC) market are:
- Infineon Technologies AG (Germany)
- Cree, Inc. (U.S.)
- ROHM Co., Ltd. (Japan)
- Microsemi (U.S.)
- STMelectronics (Switzerland)
- Fuji Electric Co., Ltd. (Japan)
- Semiconductor Components Industries, LLC (U.S.)
- General Electric (U.S.)
- Toshiba Corporation (Japan)
- Renesas Electronics Corporation (Japan)
- Microchip Technology Inc.,(U.S.)
- Grindwell Norton Limited (India)
- Dow (U.S.)
- CUMI (India)
- Entegris (U.S.)
Global Silicon Carbide (SiC) Market Scope
The silicon carbide (SiC) market is segmented based on product, device, wafer size, application, and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Black Silicon Carbide
- Green Silicon Carbide
Device
- SIC Discrete Devices
- SIC Bare Die
Wafer Size
- 2 Inch
- 4 Inch
- 6-Inch and above
Application
- RF Device and Cellular Base Station
- Power Grid Device
- Flexible AC Transmission Systems
- High-Voltage
- Direct Current
- Power Supply and Inverter
- Lighting Control
- Industrial Motor Drive
- Flame Detector
- EV Motor Drive
- EV Charging
- Electronic Combat System
- Wind Energy
- Solar Energy
- Others
Vertical
- Telecommunication
- Energy and Power
- Automotive
- Renewable Power Generation
- Defense
- Power Electronics
- Others
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Silicon Carbide (SiC) Market Dynamics
Drivers:
- Growing demand from oil and gas industry
The oil and gas industry is a significant Silicon Carbide (SiC) market driver. Silicon carbides (SiC) are extensively used in the oil and gas sector for separating and purifying gases, removing impurities, and dehydration processes. With the increasing global energy demand and exploration of unconventional oil and gas reserves, the demand for Silicon Carbide (SiC) is expected to rise.
- Growing emphasis on energy efficiency
Silicon carbide-based devices offer lower power losses and higher energy efficiency than traditional silicon-based devices. As energy consumption and environmental concerns continue rising, industries and governments worldwide focus on energy-efficient solutions. Using silicon carbide improves energy efficiency in various applications such as power generation, transmission, and electric vehicles.
- Increasing adoption of electric vehicles
Electric vehicles (EVs) are gaining significant traction as a sustainable transportation solution. Silicon carbide is a key material used in EV power electronics to enhance energy efficiency and extend driving range. The growing adoption of electric vehicles globally drives the demand for silicon carbide.
Opportunities
- Development of wide-bandgap power semiconductors
Wide-bandgap semiconductors, including silicon carbide, are gaining attention as alternatives to traditional silicon-based devices. Wide-bandgap semiconductors offer higher breakdown voltages, lower losses, and higher operating temperatures, making them ideal for power electronics applications.
- Advancements in 5G technology
The deployment of 5G networks requires advanced RF devices capable of operating at high frequencies. Silicon carbide offers excellent RF performance, including high power handling capability, low losses, and high thermal conductivity. As the global adoption of 5G technology expands, there will be an increased demand for silicon carbide-based RF devices, presenting opportunities for market growth.
Challenges/ Restraints
- Complicated in material integration and device design
Silicon carbide has different material properties and characteristics than traditional semiconductor materials like silicon. Integrating silicon carbide into existing manufacturing processes and designing efficient devices can be technically challenging. This can hinder the adoption of silicon carbide in various applications and industries and slow market growth.
- Limited availability of raw materials
Silicon carbide requires specific raw materials such as high-purity silicon and carbon precursors. The availability of these raw materials can be limited and subject to supply chain challenges. Any disruptions or fluctuations in raw material supply can impact silicon carbide production and availability, leading to potential supply constraints and market instability.
- High manufacturing costs
The manufacturing process for silicon carbide involves complex and energy-intensive techniques, including high-temperature processes and specialized equipment. These factors contribute to higher manufacturing costs than traditional materials such as silicon. The high cost of production can limit the widespread adoption of silicon carbide, especially in price-sensitive markets, and act as a restraint on market growth.
- Regulatory and compliance challenges
The use of silicon carbide in certain applications, such as automotive and aerospace, may be subject to regulatory requirements and compliance standards. Meeting these standards and obtaining necessary certifications can add complexity and cost to the manufacturing and deployment processes. Regulatory challenges and compliance requirements can act as barriers to entry for companies and impact the growth of the silicon carbide market.
This silicon carbide (SiC) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Silicon Carbide (SiC) market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Silicon Carbide (SiC) market Market Regional Analysis/Insights
The Silicon Carbide (SiC) market market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Silicon Carbide (SiC) market 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, Israel, Egypt, South Africa, 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.
The report answers questions such as:
- What is the market size and forecast of the Silicon Carbide (SiC) market Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Silicon Carbide (SiC) market Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Silicon Carbide (SiC) market Market?
- What is the competitive strategic window for opportunities in the Silicon Carbide (SiC) market Market?
- What are the technology trends and regulatory frameworks in the Silicon Carbide (SiC) market Market?
- What is the market share of the leading vendors in the Silicon Carbide (SiC) market Market?
- What modes and strategic moves are considered suitable for entering the Silicon Carbide (SiC) market Market?
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