Silicon Carbide Semiconductor Device Market Potential Analysis, Key Drivers, Emerging Growth, Trends And Forecast To 2033

The new report published by The Business Research Company, titled ""Silicon Carbide Semiconductor Device Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the silicon carbide semiconductor device market size has grown exponentially in recent years. It will grow from $1.59 billion in 2023 to $2 billion in 2024 at a compound annual growth rate (CAGR) of 25.2%. The silicon carbide semiconductor device market size is expected to see exponential growth in the next few years. It will grow to $4.52 billion in 2028 at a compound annual growth rate (CAGR) of 22.7%.

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Rising Demand For Electric Vehicles To Drive Market Growth
The increasing demand for electric vehicles is expected to propel the growth of the silicon carbide semiconductor device market going forward. An electric vehicle refers to a motorized vehicle that works on electricity from a battery and that can be externally charged. Silicon carbide semiconductor device is beneficial in electric vehicle (EV) powertrains as it provides higher power densities and switching efficiency, as a result, increasing demand for electric vehicles increases the demand for silicon carbide semiconductor devices. For instance, in September 2022, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, sales of electric vehicles increased in 2021 compared to the previous year. Further, sales nearly doubled to 6.6 million (a sales share of approximately 9%) compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Furthermore, according to the Net Zero Emissions by 2050 Scenario, there would be more than 300 million electric cars on the road by 2030 with 60% of all new car sales. Therefore, the increase in demand for electric vehicles drives the silicon carbide semiconductor device market.

Technological Advancements Driving Innovation In Silicon Carbide Semiconductor Device Market
Technological advancements have emerged as the key trend gaining popularity in the silicon carbide semiconductor device market. Major companies operating in the silicon carbide semiconductor device market are developing technological advancements to strengthen their position in the market. For instance, in September 2022, AIXTRON, a Germany-based that produces silicon carbide semiconductor devices, launched the next generation G10-SiC 200 mm system for silicon carbide epitaxy with wafer technology. The new G10-SiC 200 mm system offers a versatile dual wafer size configuration of 9x150 and 6x200 mm. This feature supports a wide range of device structures, including single- and double-drift layer structures that adhere to strict 150-mm uniformity requirements of sigma values less than 2% for doping and thickness.

The silicon carbide semiconductor device market covered in this report is segmented -

1) By Type: SIC Diode, SIC Transistor, Other Types
2) By Wafer Size: 1 Inch To 4 Inches, 6 Inches, 8 Inches, 10 Inches And Above
3) By End-User: Automotive, Consumer Electronics, Aerospace And Defense, Medical Devices, Data And Communication Devices, Energy And Power, Other End-Users

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Major companies operating in the silicon carbide semiconductor device market report are Infineon Technologies India Private Ltd., ROHM Co. Ltd., STMicroelectronics, Semiconductor Components Industries LLC, Wolfspeed Inc., Toshiba Corporation, TT Electronics PLC, Mitsubishi Electric Corporation, Microsemi Corporation, Allergo Microsystems Inc., Microchip Technology Corporation, Hitachi Power Semiconductor Device Ltd., Semikron, Global Power Technologies Group, Texas instruments Inc., NXP Semiconductors N.V., ON Semiconductor Corporation, United Silicon Carbide Inc., GeneSiC Semiconductor Inc., Danfoss A/S, Fuji Electric Co. Ltd., II-VI Incorporated, Xiamen Sanan Integrated Circuit Co.Ltd., Shanghai Hanxin Technology, Century Jinguang, BYD Semiconductor Co. Ltd., InventChip Technology Co. Ltd., CRRC Corporation Limited, Renesas Electronics Vietnam Co.Ltd. .

Contents of the report:
1. Executive Summary
2. Silicon Carbide Semiconductor Device Market Report Structure
3. Silicon Carbide Semiconductor Device Market Trends And Strategies
4. Silicon Carbide Semiconductor Device Market - Macro Economic Scenario
5. Silicon Carbide Semiconductor Device Market Size And Growth
…..
27. Silicon Carbide Semiconductor Device Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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