Sic Mosfets Market to Exhibit Steadfast Expansion During 2018-2028

SiC MOSFETs have gained enormous interest in past few years due to its exceptional advantages over the conventional silicon diodes. The growing demand for SiC MOSFETs to improve the efficiency of various semiconductor and electronic devices is one of the major factors fuelling the growth of SiC MOSFETs market. Moreover, SiC MOSFETs are attractive electronic switches for innovative power supply and motor drive solutions and used in wide range of power applications. The expansion of markets for electric vehicles, hybrid vehicles, and industrial equipment are generating a huge demand for SiC MOSFETs market. Furthermore, the growing usage of SiC MOSFETs in industrial, power, solar & wind sector for power applications is also driving the growth of the SiC MOSFETs market. Due to the increasing 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 MOSFETs 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 MOSFETs market. Moreover, various advantages of SiC-MOSFETs over the conventional silicon diodes such as higher channel resistance, high switching performance, high temperature handling capability, and low switching loss are driving the demand for SiC MOSFETs.

Global SiC MOSFETs Market: Drivers and Challenges

Drivers

Increasing demand for electric and hybrid vehicles is the primary factor which is contributing to the growth of the market. Moreover, the growing demand of SiC MOSFETs in consumer electronics products, energy applications and eco-friendly vehicles are driving the growth of SiC MOSFETs 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 MOSFETs market.

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

Challenges

In the recent past, it has been observed that countries of 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 sales 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 MOSFETs, due to limited budget is one of the major factors which limits the growth of SiC MOSFETs market.

Global SiC MOSFETs Market: Competition Landscape

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Key Players

The prominent players in the global SiC MOSFETs market are STMicroelectronics, Infineon Technologies AG, Microsemi, ROHM Semiconductor, CREE Inc., GeneSiC Semiconductor Inc., IXYS Corporation, Littelfuse, Inc., and United Silicon Carbide, Inc.

Global SiC MOSFETs Market: Regional Overview

On geographic basis, Asia Pacific is expected to be a large market for SiC MOSFETs due to the increasing demand for SiC MOSFETs in industrial, power, solar & wind sector for power applications and presence of various key players in the region. The demand for SiC MOSFETs in North America and Europe is expected to grow rapidly in the coming few years due to the increasing demand for high-power electronic devices and rapid increase in number of electric and hybrid vehicles in various countries of the regions such as U.S., Germany, France, and U.K. The SiC MOSFETs markets in Latin America and the MEA are also expected to witness high growth rates in the coming period due to the high adoption of SiC MOSFETs in various oil & gas industries in the region.

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