Sic Diodes Market to Witness Soaring Growth During 2018-2028

SiC diodes have gained enormous interest in the past few years due to their exceptional advantages over the conventional silicon diodes. The growing demand for SiC diodes to improve the efficiency of various semiconductor and electronic devices is one of the major factors fuelling the growth of SiC diodes market. Moreover, advanced features of silicon carbide such as inherent radiation-resistance, high temperature operating capacity, high voltage and power handling capacity, and high power efficiency are the factors that drive the demand for SiC diodes. The growing usage of SiC diodes in industrial, power, solar & wind sector for power applications is also driving the growth of the SiC diodes market. Furthermore, with the increased demand for high-power semiconductors, the load on the power equipment has increased, and due to this, the need for electronic devices that can operate in a high-temperature and high-voltage environment is growing rapidly.

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SiC diodes have become the choice for most of the next-generation power semiconductor devices and high-temperature semiconductor devices and are quickly replacing the conventional silicon technology. The continuous growth in the demand for high-power semiconductor and electronics devices is fuelling the growth of the SiC diodes market. Moreover, the applications of SiC diodes in opto-semiconductors (LEDs, laser diodes, and lighting) and high-temperature semiconductor products is creating a positive impact on the growth of the SiC diodes market.

Global SiC Diodes Market: Drivers and Challenges

Drivers

Increasing demand for electric and hybrid vehicles is the primary factor fuelling the growth of the market. Moreover, the growing demand of SiC diodes in rail transportation, power supply units, photovoltaic applications, and converters & inverters are driving the growth of SiC diodes market. Also, the increase in demand for high-power consumer electronic devices such as air conditioners, refrigerators, and laptops is also creating potential growth opportunities for SiC diodes market.

Apart from this, the rising trend of electrification vehicles and growing demand for SiC diodes due the rapid digitalization in industrial sector are creating ideal conditions for the growth of SiC diodes market. The demand for smart manufacturing and automation systems is generating huge demand for SiC diodes. Furthermore, the increase in demand for SiC diodes in the automobile industry for switching power supplies and for fast switching speeds is also fuelling the growth of the market.

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Challenges

In the recent past, it has been observed that countries in various regions such as North America, Asia Pacific, and Western Europe are changing import tariffs and taxes imposed on electronic instruments and consumer electronic products, which is a factor affecting the sale of semiconductors and related electronic devices in these regions. Apart from this, reluctance of various small and medium manufacturing industries towards the adoption of SiC diodes, due to limited budget is one of the major factor limiting the growth of SiC diodes market.

Key Players

Examples of some of the prominent players operating in the global SiC diodes market are STMicroelectronics, Infineon Technologies AG, Microsemi, ROHM Semiconductor, ON Semiconductor, CREE Inc. (WolfSpeed), Toshiba Corporation, Fuji Electric Co., Ltd., Renesas Electronics Corporation, Sanken Electric Co., Ltd., United Silicon Carbide, Inc., GeneSiC Semiconductor Inc., and Monolith Semiconductor Inc.

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