Global Silicon Carbide Market 2021-2026, by Device (SiC Discrete, SiC Bare Die, and SiC Module), Wafer Size, Application, Vertical and Geography

DUBLIN, Nov. 19, 2021 /PRNewswire/ -- The "Global Silicon Carbide Market with COVID-19 Impact Analysis Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global silicon carbide market is expected to grow from USD 899 million in 2021 to USD 2,113 million by 2026; it is expected to grow at a CAGR of 18.7% during 2021-2026.

Key factors fueling this market's growth include growing demand for SiC Devices in power electronics; higher mechanical, electrical and thermal properties than regular Silicon; and growing investments by governments, private organizations, research institutes, and manufacturers to increase SiC production. Growing implementation of SiC devices in automotive and power devices applications and increasing demand for hybrid and electric cars create a strong demand for silicon carbide for efficient industrial operations in the midst of COVID-19.

Automotive vertical to witness the highest CAGR in silicon carbide market during 2021-2026.

The silicon carbide market for automotive vertical is expected to grow with the highest CAGR during the forecast period. Advancements in EVs/HEVs require progress on the electrification of powertrains, which will boost the demand for silicon carbide devices. The growth is attributed to the increasing investment of business giants such as Tesla, Mercedes-Benz, and Mitsubishi on the manufacturing and development of on-board chargers (OBCs) and inverters for EV and plug-in hybrid EV (PHEV). These SiC devices are light in weight and are available in a compact size, thus increasing efficiency by reducing the charging time of the aforementioned vehicles.

Premium Insights

• Growing Demand for Electric Vehicles to Boost Growth of Silicon Carbide Market
• Sic Bare Die Devices to Register Highest CAGR from 2021 to 2026
• 6-Inches and Above Wafer Size to Hold Largest Share of Silicon Carbide Market by 2026
• Power Supplies & Inverters and China Held Largest Market Shares of Silicon Carbide Market in Asia-Pacific in 2020
• Silicon Carbide Market in China to Exhibit Highest CAGR from 2021 to 2026

Market Dynamics

Drivers

• Growing Demand for Sic Devices in Power Electronics
• Higher Mechanical, Electrical, and Thermal Properties Than Regular Silicon
• Growing Investments by Governments, Private Organizations, Research Institutes, and Manufacturers to Increase Sic Production

Restraints

• High Material and Fabrication Costs of Sic

Opportunities

• Growing Implementation of Sic Devices in Automotive and Power Device Applications
• Increasing Demand for Hybrid and Electric Cars

Challenges

• Material Defects, Design Complexities, and Packaging Issues in Sic Power Devices
• Disruptions in Supply Chain of Semiconductor Devices due to COVID-19

Geographic Analysis

• APAC to Witness Highest Growth from 2021 to 2026
• US to be Largest Market for Silicon Carbide Devices During Forecast Period
• Increasing Demand from Automotive, Industrial, and Power Electronics Segments to Boost Growth of Canadian Market
• Growing Industrialization in Mexico to Propel Growth of Silicon Carbide Market
• Germany to Dominate European Silicon Carbide Market During Forecast Period
• Growing Demand for Wind Turbines to Fuel Market Growth During Forecast Period
• Rising Use of Silicon Carbide Devices in Automotive and Aerospace Industries to Boost Market Growth
• Developing Economy and Mass Production of Electric Vehicles to Boost Market Growth in China
• Presence of Major Players and Ongoing HVDC Projects to Increase Demand for Silicon Carbide Devices in Japan
• Consumer Electronics and Automobile Manufacturing Companies are Playing Vital Role in Growth of Market
• Increasing Demand for Sic Devices Attributed to Growing Renewable Energy Production to Boost Market Growth
• Implementation of Sic in Large Number of Wind Farms to Drive Market Growth

Company Profiles

• Infineon Technologies 
• Cree, Inc. 
• ROHM Co., Ltd.
• STMelectronics 
• Fuji Electric 
• ON Semiconductor 
• General Electric 
• Toshiba Corporation 
• Renesas Electronics
• Microchip Technology 
• Unitedsic
• Semikron
• Genesic Semiconductor Inc.
• Powerex Inc.
• Hitachi Ltd.
• Tt Electronics
• Littlefuse Inc.
• Bruckewell Technology Ltd.
• Semiq, Inc.
• Mitsubishi Electric Corporation
• Alpha Power Solutions Ltd. 
• Ween Semiconductors Co., Ltd.
• Microsemi Corporation
• Ii-Vi Incorporated
• Tankeblue Semiconductors Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/x3ahtk

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