Silicon Carbide Semiconductor Device Market Size Forecasted To Achieve $5.33 Billion By 2029 With Steady Growth

The Silicon Carbide Semiconductor Device Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Silicon Carbide Semiconductor Device Market Size During the Forecast Period?
The market size for silicon carbide semiconductor devices has experienced remarkable growth in the recent past. From $1.97 billion in 2024, it's projected to rise to $2.45 billion in 2025, reflecting a compound annual growth rate (CAGR) of 24.4%. This substantial expansion in the historical period can be traced back to the initial advancements in silicon carbide (sic), the increasing need for high-temperature uses, the emergence of power electronics, applications in telecommunications and RF, as well as in military and aerospace sectors.

The market size for silicon carbide semiconductor devices is predicted to exhibit remarkable growth in the coming years, reaching a value of $5.33 billion by 2029, with a compound annual growth rate of 21.5%. This anticipated increase during the forecast period can be linked to advancements in electric vehicles (EVs), the expansion of renewable energy, the rollout of 5g networks, industrial and motor drives, and improvements in power transmission. Key trends identified for this forecast period include the escalating requirements for power density, the growing use in the automotive industry, the extension of power electronics, swift progress in manufacturing, and the widespread growth of renewable energy.

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What Are the Major Segments in the Silicon Carbide Semiconductor Device Market?
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

Subsegments:
1) By SiC Diode: Schottky Barrier Diodes (SBD), PiN Diodes
2) By SiC Transistor: SiC MOSFET (Metal-Oxide-Semiconductor Field-Effect Transistor), SiC BJT (Bipolar Junction Transistor), SiC IGBT (Insulated Gate Bipolar Transistor)
3) By Other Types: SiC Rectifiers, SiC Modules, SiC Power Devices

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What Are The Driving Silicon Carbide Semiconductor Device Market Evolution?
The surge in electric vehicle demand is anticipated to drive the expansion of the silicon carbide semiconductor device market. An electric vehicle is essentially a motorized vehicle powered by electricity generated from a battery and can be externally charged. Silicon carbide semiconductor devices are advantageous in EV powertrains due to their enhanced power densities and switching efficiency, thus, the growth in electric vehicle demand fuels the need for silicon carbide semiconductor devices. In 2024, the International Energy Agency (IEA), a France-based self-governing intergovernmental organization, reported that electric car sales in 2023 were 3.5 million higher than the previous year, exhibiting a 35% year-on-year growth. Moreover, as per the Net Zero Emissions by 2050 Scenario, there will be over 300 million electric cars on the roads by 2030, representing 60% of all new car sales. Consequently, the growing demand for electric vehicles bolsters the silicon carbide semiconductor device market.

Which Firms Dominate The Silicon Carbide Semiconductor Device Market Segments?
Major companies operating in the silicon carbide semiconductor device market include Infineon Technologies India Private Ltd., ROHM Co. Ltd., STMicroelectronics, Wolfspeed Inc., Toshiba Corporation, TT Electronics PLC, Mitsubishi Electric Corporation, Microsemi Corporation, Powerex* 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.

What Trends Are Expected to Dominate the Silicon Carbide Semiconductor Device Market in the Next 5 Years?
The emergence of technological innovations is the prevalent trend being noted in the silicon carbide semiconductor device market. Major players in this market are leveraging these technological advancements to enhance their market standing. In this context, Germany-based AIXTRON, a company that manufactures silicon carbide semiconductor devices, unveiled its next-generation G10-SiC 200 mm system in September 2022. This system, engineered for silicon carbide epitaxy with wafer technology, offers a flexible dual wafer size configuration of 9x150 and 6x200 mm. It can support a broad spectrum of device structures, encompassing single- and double-drift layer structures. Moreover, it adheres to the stringent 150-mm uniformity standards, with sigma values for doping and thickness being less than 2%.

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Which Is The Largest Region In The Silicon Carbide Semiconductor Device Market?
Asia-Pacific was the largest region in the silicon carbide semiconductor device market in 2024. The regions covered in the silicon carbide semiconductor device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Silicon Carbide Semiconductor Device Market?
2. What is the CAGR expected in the Silicon Carbide Semiconductor Device Market?
3. What Are the Key Innovations Transforming the Silicon Carbide Semiconductor Device Industry?
4. Which Region Is Leading the Silicon Carbide Semiconductor Device Market?

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