Silicon Carbide Semiconductor Device Market Expansion Continues, with Forecast Valuation of $5.33 Billion by 2029

Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.

Silicon Carbide Semiconductor Device Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size of the silicon carbide semiconductor device has seen robust growth. Experts predict an increase from $1.97 billion in 2024 to $2.45 billion in 2025, with a compound annual growth rate (CAGR) of 24.4%. This impressive growth in the historic period can be credited to the early progress in silicon carbide (sic), the booming demand for high-temperature applications, the evolution of power electronics, developments in telecommunications and RF applications, as well as the applications in military and aerospace industries.

Silicon Carbide Semiconductor Device Market Size Forecast: What's the Projected Valuation by 2029?
Predictions suggest a significant surge in the size of the silicon carbide semiconductor device market in the upcoming years. It is projected to reach $5.33 billion by 2029, with a compound annual growth rate (CAGR) of 21.5%. This predicted growth in the forecast period can be linked to the increasing adoption of electric vehicles (EVs), the broadening of renewable energy, the deployment of 5g networks, industrial and motor drives, as well as advancements in power transmission. The forecast period is expected to experience key trends such as the rising need for power density, the embracing of the automotive industry, growth in power electronics, rapid progress in manufacturing, and an increase in renewable energy.

View the full report here:
https://www.thebusinessresearchcompany.com/report/silicon-carbide-semiconductor-device-global-market-report

What Are the Drivers Transforming the Silicon Carbide Semiconductor Device Market?
The silicon carbide semiconductor device market is projected to grow due to the rising interest in electric vehicles. An electric vehicle, defined as a motorized vehicle powered by battery-sourced electricity with the capability for external charging, has a direct impact on the demand for silicon carbide semiconductor devices. This is because these devices offer improved power densities and switching efficiency in the powertrains of electric vehicles (EV). For example, the International Energy Agency (IEA), an autonomous intergovernmental organization from France, reported that electric car sales in 2023 were 3.5 million higher than in 2022, representing a year-on-year upsurge of 35%. Additionally, the Net Zero Emissions by 2050 Scenario anticipates over 300 million electric cars on the road by 2030, accounting for 60% of all new car sales. Consequently, this increasing preference for electric vehicles fuels the market for silicon carbide semiconductor devices.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9302&type=smp

What Long-Term Trends Will Define the Future of the Silicon Carbide Semiconductor Device Market?
The silicon carbide semiconductor device market is witnessing increasing popularity due to technological advancements, which is a significant trend. Many key players in the sector are leveraging these advancements to fortify their market stance. A case in point, AIXTRON, a Germany-based silicon carbide semiconductor devices producer, unveiled their latest generation G10-SiC 200 mm system for silicon carbide epitaxy equipped with wafer technology in September 2022. The G10-SiC 200 mm system introduces a flexible dual wafer size configuration accommodating 9x150 and 6x200 mm. With this, the system can support an extensive variation of device structures, such as single- and double-drift layer structures, following the stringent 150-mm uniformity conditions of sigma values under 2% for doping and thickness.

Which Segments in the Silicon Carbide Semiconductor Device Market Offer the Most Profit Potential?
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

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=9302&type=smp

Which Firms Dominate the Silicon Carbide Semiconductor Device Market by Market Share and Revenue in 2025?
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, Power*ex 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.

Which Regions Offer the Highest Growth Potential 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

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9302

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Learn More About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.