Press release
Future of the Silicon Carbide (SiC) Diodes Market: Trends, Innovations, and Key Forecasts Through 2034
Silicon Carbide (SiC) Diodes
Silicon Carbide (SiC) Diodes Market Size Growth Forecast: What to Expect by 2025?
Over the past few years, the market size for silicon carbide (sic) diodes has experienced robust growth. The market value, which stood at $1.9 billion in 2024 is predicted to rise to $2.08 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.6%. Factors contributing to this growth during the historic period include heightened demand for energy efficiency, expansion of the renewable energy sector, growing investment in industrial automation, smart grid development, and the miniaturization of electronic devices.
How Will the Silicon Carbide (SiC) Diodes Market Size Evolve and Grow by 2029?
Anticipations run high for the silicon carbide (sic) diodes market to experience significant growth in the upcoming years, with projections indicating an increase to $3.1 billion in 2029, corresponding to a compound annual growth rate (CAGR) of 10.4%. The surge in this period is expected due to the rise in the production of electric vehicles, unceasing enhancements in SiC production, an escalating focus on energy efficacy, forthcoming opportunities relating to 5G technology, and a worldwide tilt towards environmentally friendly energy alternatives. The forecast period also heralds major trends such as amalgamation with sustainable energy systems, progress in SiC production methods, the widespread adoption of smart grids and energy storage technologies, advanced integration of SiC diodes in consumer electronics, and the application of sophisticated driver assistance systems.
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What Drivers Are Propelling the Growth of Silicon Carbide (SiC) Diodes Market Forward?
The rising need for electric automobiles (EVs) is projected to stimulate the silicon carbide (SiC) diode market in the future. Instead of gasoline or diesel engines, electric vehicles are cars that use electric motors and are powered by rechargeable batteries or other energy storage devices. The increasing adoption of electric vehicles (EVs) can be attributed to environmental apprehensions, developing charging infrastructure, and government incentives. Silicon carbide (SiC) diodes enhance electric vehicle (EV) performance by reducing switching losses, improving thermal conductivity, and facilitating rapid switching abilities, thus decreasing the size and weight of power elements. Consequently, the overall performance and energy efficiency of EV powertrains are improved. For example, the France-based autonomous intergovernmental organization, International Energy Agency, reported in April 2023 that electric car sales surpassed 10 million in 2022 and are approaching 14 million in 2023, with firm targets set to rise to 35% by 2030. Hence, the escalating demand for electric vehicles (EVs) will steer the silicon carbide (SiC) diode market.
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What Are the Key Trends Driving Silicon Carbide (SiC) Diodes Market Growth?
Key players in the silicon carbide (SiC) diode market are prioritizing the development of advanced offerings such as the third-generation silicon carbide Schottky barrier chip, with the aim of boosting performance and efficiency in high-powered applications. This type of chip relies on a Schottky barrier diode design to achieve a high breakdown voltage, minimal forward voltage drops, rapid switching speeds, and superior thermal conductivity. To cite an example, in July 2023, Toshiba Electronic Devices & Storage Corporation, an electronics firm based in Japan, rolled out the TRSxxx65H series. This diode, which exhibits a low forward voltage of 1.2V, a 17% reduction compared to its predecessor's 1.45V, significantly enhances power conversion efficiency. The series can endure forward DC currents or IF(DC) of up to 12A, as well as square-wave surge currents (IFSM) of up to 640A. It is available in both TO-220-2L and DFN8×8 packaging. The diodes are engineered with an optimized junction barrier Schottky (JBS) framework, which minimizes leakage current and power dissipation, thus increasing their efficiency in industrial uses.
What Are the Key Segments in the Silicon Carbide (SiC) Diodes Market?
The silicon carbide (sic) diodes market covered in this report is segmented -
1) By Type: Schottky Diodes, Junction Diodes, P-Insulator-N Diodes (PIN Diodes), Other Types
2) By Forward Current: 2 To 5 Amperes, 6 To 10 Amperes, 11 To 20 Amperes, 21 To 40 Amperes, Above 40 Amperes
3) By Reverse Voltage: 650 Voltage, 1200 Voltage, 1700 Voltage, 3300 Voltage
4) By Application: Automotive, Medical Imaging, Communication, Data Centers, Defense, Photovoltaic Solutions, Other Applications
Subsegments:
1) By Schottky Diodes: Standard Schottky Diodes, Low-Forward Voltage Schottky Diodes, High-Temperature Schottky Diodes
2) By Junction Diodes: Standard Junction Diodes, High-Efficiency Junction Diodes, High-Voltage Junction Diodes
3) By P-Insulator-N Diodes (PIN Diodes): Power PIN Diodes, High-Speed PIN Diodes, Low-Power PIN Diodes
4) By Other Types: Varactor Diodes, Zener Diodes, Avalanche Diodes, MOS Diodes (Metal-Oxide-Semiconductor Diodes), Shockley Diodes
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Who Are the Key Players Shaping the Silicon Carbide (SiC) Diodes Market's Competitive Landscape?
Major companies operating in the silicon carbide (SiC) diodes market are Mitsubishi Electric Corporation, TOSHIBA CORPORATION, Avnet Inc., STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation, ON Semiconductor, Microchip Technology Inc., Qorvo Inc., ROHM CO. LTD., Vishay Intertechnology Inc., Littelfuse Inc., Nexperia, Fuji Electric Co. Ltd., Diodes Incorporated, Alpha and Omega Semiconductor, WOLFSPEED INC., Semikron Danfoss, IXYS Corporation, Sanken Electric Co. Ltd., GeneSiC Semiconductor Inc
What Geographic Markets Are Powering Growth in the Silicon Carbide (SiC) Diodes Market?
North America was the largest region in the silicon carbide (SiC) diode market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the silicon carbide (SiC) diodes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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