Global Silicon Carbide (SiC) Power Semiconductors Market is expected to grow at a CAGR of 18.1% from 2018 to 2025 by Top Key Players Infineon Technologies AG, Microsemi Corporation, General Electric, Power Integrations, Toshiba Corporation, Fairchild Semi
Allied Market Research recently published a report, titled, “Silicon Carbide Power Semiconductors Market: Global Opportunity Analysis and Industry Forecast, 2018-2025”. The report states that the global silicon carbide (SiC) power semiconductors market accounted for $302 million in 2017 and is projected to reach $1,109 million by 2025, growing at a CAGR of 18.1% from 2018 to 2025.
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In 2017, the global silicon carbide power semiconductors market was dominated by Asia-Pacific as a result of China’s strong foothold worldwide. While Europe and North America followed suit, the UK is expected to lead at a significant growth rate in Europe during the forecast period, i.e., 2018-2025.
Owing to a wider bandgap, higher breakdown electric field, thermal conductivity, and saturated electron drift velocity, SiC power semiconductors possesses a major advantage over traditional silicon semiconductors. These salient features ensure that Sic devices not only operate at higher temperatures and high frequencies (RF and microwave) but are also able to withstand very high voltages and reduce energy loss. Sic power devices also switch at a high frequency, allowing their size to be comparatively smaller than power modules designed with conventional silicon devices.
Increasing demand for efficient power electronics across various industry verticals, such as automotive, industrial, IT & telecom, electronics, and aerospace & defense, drives the growth of silicon carbide power semiconductors. Moreover, there is a growing demand for efficient power electronics systems in renewable energy systems such as solar and wind energy power plants. The installation of renewable energy systems has been increasing, owing to the increased government support and initiatives. This drives the market for silicon carbide power semiconductors.
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In addition, with the increasing government support for the penetration of electric vehicles, there is a growing demand for SiC power devices in automotive electronics, fueling the silicon carbide power semiconductors market. The establishment of 5G infrastructure during the forecast period is expected to provide lucrative opportunities for the growth of silicon carbide power semiconductors.
The key players operating in the silicon carbide power semiconductors market are Infineon Technologies AG, Microsemi Corporation, General Electric, Power Integrations, Toshiba Corporation, Fairchild Semiconductor, STMicroelectronics, NXP Semiconductors, Tokyo Electron Limited, Renesas Electronics Corporation, ROHM, and Cree, Inc.
Silicon carbide (SiC) power semiconductor is a power device, which is used to control the distribution of power in an electronics system. Silicon carbide power semiconductors play a vital role in the power semiconductors market. The wider band gap, high switching frequency, and high electric field strength of SiC power devices allow them to be operated at higher temperatures and volumes as compared to their silicon counterparts. The silicon carbide power devices market has witnessed significant growth, owing to increasing number of industrial sectors that require SiC power devices, such as telecom, manufacturing, automotive, and energy & power sectors.
Increasing usage of efficient power electronics systems in IT & telecommunications, electric and hybrid electric vehicles, renewable energy systems such as solar and wind energy systems, and industrial motor drives significantly impacts the growth of the silicon carbide power semiconductors market. However, high cost of silicon wafers, which are used for the manufacturing of SiC-based power devices, restrains the growth of the market.
On the basis of power module, the power product segment accounted for the highest revenue in the market in 2017, because of its smaller solution size as compared to discrete products. Owing to the increasing penetration of electric vehicles, the use of silicon carbide power semiconductors is expected to grow the fastest in the automotive sector during the forecast period.
Among the analyzed geographical regions, the Asia-Pacific is expected to account for the highest revenue in the global market throughout the forecast period (2018–2025), followed by Europe, North America, and LAMEA. Moreover, the Asia-Pacific is expected to witness the highest growth rate, owing to the increasing usage of power electronics in developed countries, such as China, South Korea, and Japan, which indicate lucrative prospects for silicon carbide power semiconductor providers in the Asia-Pacific region.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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