Global Silicon Carbide Power Semiconductor Market - Segmented By Component (Discrete, Modules, Power Integrated Circuits) by End-User and Region - Growth, Trends and Forecast (2022 - 2030)
The Silicon Carbide (SiC) Power Semiconductor market is expected to register a CAGR of over 27.5% during the forecast period 2018 - 2023. The report profiles the application of Silicon Carbide Power Semiconductors for various industries.
The silicon carbide (SiC) power semiconductor market is growing significantly due to its characteristics like enhanced features of power efficiency, low input and switching loss and high speed, enhanced portability are the other drivers guiding the growth of the SiC power semiconductor market in the future. The increasing demand for SiC-based photovoltaic cells and rising government investments, especially in growing economies, and the expanding application of solar energy are expected to propel market growth further. Apart from technological advantages, Silicon carbide power semiconductors are trending these days, due to increasing consumer interest towards electric vehicles and growing advancement in next-generation transistors. The growing advancement in SiC MOSFETs are impacting the future growth of SiC power semiconductor market.
However, with growth of consumer demand exceeding the factory capacity and global shortage of Silicon Wafer due to limited number of vendors could be some of the factors hindering the growth of the Silicon Carbide (SiC) power semiconductors market over the forecast period.
Power Integrated Circuits is expected to grow at a Significant Rate
The key features of a Silicon Carbide power integrated circuits like handling high voltage, high current over conventional Silicon based semiconductor technologies is a significant factor driving the growth of silicon carbide power integrated circuits over the forecast period. Their benefits of working in harsh environments has also increased their application in oil & gas drilling, industrial motors drives, space exploration, aviation and nuclear energy. Their rising adoption in the automotive industry, for an electric vehicle or multiplexed bus system with distributed power integrated circuits for control of lights, motors and air conditioning are also transforming the automotive sector. Due to their power efficiency characteristics, their applications are also growing in the power industry. The global power management integrated circuits market is expected to register a CAGR of 8.94% over the forecast period. Therefore, with so much of scope, Silicon carbide power integrated circuit market will grow significantly over the forecast period.
Asia Pacific Will Grow Significantly Over the Forecast Period in Silicon Carbide Power Semiconductor Market
Asia Pacific is estimated to dominate the market for SiC power semiconductor over the forecast period owing to increasing adoption of energy efficient projects and growing advancement in energy distribution system & Electric Vehicle (EV) infrastructure. The region is also dominating the global semiconductor market. The growing number of power projects coupled with the implementation of solar projects in the region is creating enormous demands for SiC power semiconductors. Feed-in tariff (FiT) schemes have been instrumental to solar PV growth, hence for SiC power semiconductor too, in Southeast Asia. In Thailand, which is by far the largest producer of solar energy in Southeast Asia due to strong government support, solar capacity has jumped in the past three years. Also, the growing government’s solar energy initiative in Japan, India and China has led to an increasing need for solar power panels in the region. The region is also having the highest adoption EV models, as China is also the largest maker of electric vehicles. In 2016, it sold 507,000, including buses and commercial vehicles, according to the China Association of Automobile Manufacturers. Hence, the region will grow significantly over the forecast period.
Key Developments in The Market
•Mar 2018: Cree, Inc. has acquired assets of Infineon Technologies AG Radio Frequency (RF) Power Business for approximately EUR 345 million. The transaction expands the Cree Wolfspeed business unit’s wireless market opportunity. This business holds a leading market position offering transistors and MMICs (Monolithic Microwave Integrated Circuits) for wireless infrastructure radio frequency power amplifiers based on both LDMOS and Gallium Nitride on Silicon Carbide (GaN-on-SiC) technologies.
•Jan 2018: Mitsubishi Electric Corporation announced that it has developed a 6.5 kV full silicon carbide (SiC) power semiconductor module that is believed to offer the world's highest power density (calculated from rated voltage and current) among power semiconductor modules rated from 1.7 kV to 6.5 kV.
Major Players: INFINEON TECHNOLOGIES AG, TEXAS INSTRUMENTS INC., STMICROELECTRONICS N.V., HITACHI POWER SEMICONDUCTOR DEVICE LTD., NXP SEMICONDUCTOR, FUJI ELECTRIC CO. LTD., SEMIKRON INTERNATIONAL GMBH, CREE INC., ON SEMICONDUCTOR CORPORATION, RENESAS ELECTRONIC CORPORATION, BROADCOM LIMITED, TOSHIBA CORPORATION, and MITSUBISHI ELECTRIC CORPORATION, among others.
Reasons to Purchase The Report
•Impact of growth of silicon carbide power semiconductor on the market
•Analysis of various perspectives of the market with the help of Porter’s five forces analysis
•The segments that are expected to dominate the market
•Regional analysis of the market during the forecast period
•Latest developments, market shares and strategies employed by the major market players and key innovators
•3 months analyst support along with the Market Estimate sheet (in Excel)
Customization of the Report
•This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
The silicon carbide (SiC) power semiconductor market is growing significantly due to its characteristics like enhanced features of power efficiency, low input and switching loss and high speed, enhanced portability are the other drivers guiding the growth of the SiC power semiconductor market in the future. The increasing demand for SiC-based photovoltaic cells and rising government investments, especially in growing economies, and the expanding application of solar energy are expected to propel market growth further. Apart from technological advantages, Silicon carbide power semiconductors are trending these days, due to increasing consumer interest towards electric vehicles and growing advancement in next-generation transistors. The growing advancement in SiC MOSFETs are impacting the future growth of SiC power semiconductor market.
However, with growth of consumer demand exceeding the factory capacity and global shortage of Silicon Wafer due to limited number of vendors could be some of the factors hindering the growth of the Silicon Carbide (SiC) power semiconductors market over the forecast period.
Power Integrated Circuits is expected to grow at a Significant Rate
The key features of a Silicon Carbide power integrated circuits like handling high voltage, high current over conventional Silicon based semiconductor technologies is a significant factor driving the growth of silicon carbide power integrated circuits over the forecast period. Their benefits of working in harsh environments has also increased their application in oil & gas drilling, industrial motors drives, space exploration, aviation and nuclear energy. Their rising adoption in the automotive industry, for an electric vehicle or multiplexed bus system with distributed power integrated circuits for control of lights, motors and air conditioning are also transforming the automotive sector. Due to their power efficiency characteristics, their applications are also growing in the power industry. The global power management integrated circuits market is expected to register a CAGR of 8.94% over the forecast period. Therefore, with so much of scope, Silicon carbide power integrated circuit market will grow significantly over the forecast period.
Asia Pacific Will Grow Significantly Over the Forecast Period in Silicon Carbide Power Semiconductor Market
Asia Pacific is estimated to dominate the market for SiC power semiconductor over the forecast period owing to increasing adoption of energy efficient projects and growing advancement in energy distribution system & Electric Vehicle (EV) infrastructure. The region is also dominating the global semiconductor market. The growing number of power projects coupled with the implementation of solar projects in the region is creating enormous demands for SiC power semiconductors. Feed-in tariff (FiT) schemes have been instrumental to solar PV growth, hence for SiC power semiconductor too, in Southeast Asia. In Thailand, which is by far the largest producer of solar energy in Southeast Asia due to strong government support, solar capacity has jumped in the past three years. Also, the growing government’s solar energy initiative in Japan, India and China has led to an increasing need for solar power panels in the region. The region is also having the highest adoption EV models, as China is also the largest maker of electric vehicles. In 2016, it sold 507,000, including buses and commercial vehicles, according to the China Association of Automobile Manufacturers. Hence, the region will grow significantly over the forecast period.
Key Developments in The Market
•Mar 2018: Cree, Inc. has acquired assets of Infineon Technologies AG Radio Frequency (RF) Power Business for approximately EUR 345 million. The transaction expands the Cree Wolfspeed business unit’s wireless market opportunity. This business holds a leading market position offering transistors and MMICs (Monolithic Microwave Integrated Circuits) for wireless infrastructure radio frequency power amplifiers based on both LDMOS and Gallium Nitride on Silicon Carbide (GaN-on-SiC) technologies.
•Jan 2018: Mitsubishi Electric Corporation announced that it has developed a 6.5 kV full silicon carbide (SiC) power semiconductor module that is believed to offer the world's highest power density (calculated from rated voltage and current) among power semiconductor modules rated from 1.7 kV to 6.5 kV.
Major Players: INFINEON TECHNOLOGIES AG, TEXAS INSTRUMENTS INC., STMICROELECTRONICS N.V., HITACHI POWER SEMICONDUCTOR DEVICE LTD., NXP SEMICONDUCTOR, FUJI ELECTRIC CO. LTD., SEMIKRON INTERNATIONAL GMBH, CREE INC., ON SEMICONDUCTOR CORPORATION, RENESAS ELECTRONIC CORPORATION, BROADCOM LIMITED, TOSHIBA CORPORATION, and MITSUBISHI ELECTRIC CORPORATION, among others.
Reasons to Purchase The Report
•Impact of growth of silicon carbide power semiconductor on the market
•Analysis of various perspectives of the market with the help of Porter’s five forces analysis
•The segments that are expected to dominate the market
•Regional analysis of the market during the forecast period
•Latest developments, market shares and strategies employed by the major market players and key innovators
•3 months analyst support along with the Market Estimate sheet (in Excel)
Customization of the Report
•This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Frequently Asked Questions
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