LONDON, June 6, 2017 /PRNewswire/ -- Highlights
· Silicon carbide market projected to grow at a CAGR of 17.4% between 2017 and 2022
· The silicon carbide has entered the growth phase and is expected to grow further in the coming years.
· The market is expected to be worth USD 617.4 million by 2022, at a CAGR of 17.4% between 2017 and 2022.
· EV motor drive application for silicon carbide market is estimated to grow at the highest rate
· The market for EV motor drive is expected to grow at the highest CAGR during the forecast period.
· SiC discrete is estimated to hold the largest share of the market during the forecast period
· With the increased demand for high power semiconductors, the load on the power equipment has increased.
· This has created a need for electronic devices that can operate in a high-temperature and high-voltage environment.
"Silicon carbide market projected to grow at a CAGR of 17.4% between 2017 and 2022"
The silicon carbide has entered the growth phase and is expected to grow further in the coming years. The market is expected to be worth USD 617.4 million by 2022, at a CAGR of 17.4% between 2017 and 2022. The drivers for this market is the ability of SiC devices in the semiconductor to perform at high temperature and high voltage and power, increasing demand for motor drives, ability to reduce overall system size, and increasing application of SiC in radio frequency (RF) devices and cellular base station. However, SiC devices packaging is acting as a major challenge for silicon carbide market.
"EV motor drive application for silicon carbide market is estimated to grow at the highest rate"
The market for EV motor drive is expected to grow at the highest CAGR during the forecast period. EV motor drive application is growing because of the increasing silicon carbide devices penetration in electric vehicles, as silicon carbide devices reduce size and weight of the system and overall weight of the vehicle.
"SiC discrete is estimated to hold the largest share of the market during the forecast period"
With the increased demand for high power semiconductors, the load on the power equipment has increased. This has created a need for electronic devices that can operate in a high-temperature and high-voltage environment. Therefore, the SiC discrete device market is expected to grow at a significant CAGR during the forecast period.
"RoW is expected to be the fastest-growing market for silicon carbide during the forecast period"
The market in RoW is expected to grow at the highest CAGR because of the growing telecom industry in South American countries is leading to the rise in silicon carbide devices in the region. RF devices are also playing a significant role in the growth of the silicon carbide market in the region.
Breakdown of profile of primary participants:
• By Company Type: Tier 1 = 20 %, Tier 2 = 25%, and Tier 3 = 55%
• By Designation: C-level Executives = 40%, Directors = 25%, and Managers = 35%
• By Region: Americas = 20%, Europe = 25%, APAC = 50%, and RoW = 5%
The major players in the silicon carbide market include Infineon Technologies AG (Germany), CREE Inc. (Wolfspeed) (US), ROHM Semiconductor (Japan), STMicroelectronics N.V. (Switzerland), ON Semiconductor (US), United Silicon Carbide, Inc. (US), General Electric (US), GeneSiC Semiconductor Inc. (US), Fuji Electric Co., Ltd. (Japan), and Renesas Electronics Corporation (Japan). Most of the leading companies have followed the organic strategy of product launches to boost the revenue of the company.
The silicon carbide market has been segmented on the basis of wafer size, application, vertical, and devices that include SiC discrete devices and SiC bare die.
The study covers silicon carbide applications such as RF device and cellular base station, power grid device, flexible AC transmission systems (FACTS), high-voltage, direct current (HVDC), power supply and inverter, lighting control, industrial motor drive, flame detector, EV motor drive, EV charging, electronic combat system, wind energy, solar energy, and others. The report also forecasts the market size for various segments with regard to 4 main regions—Americas, Europe, APAC, and RoW.
Reasons to Buy the Report
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the silicon carbide market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, opportunities, and challenges.
3. This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, product developments, partnerships, and mergers and acquisitions in the silicon carbide market.
Download the full report: https://www.reportbuyer.com/product/4927586/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/silicon-carbide-market-is-expected-to-be-worth-usd-6174-million-by-2022-300469640.html