Press release
Silicon Carbide Market valued at USD 3.48 billion in 2024 and is projected to reach USD 13.74 billion by 2030
Silicon Carbide Market
The Silicon Carbide (SiC) Market is experiencing exponential growth driven by rising adoption of wide-bandgap semiconductors across electric vehicles (EVs), renewable energy systems, power electronics, aerospace, industrial motors, rail transportation, and defense electronics. Silicon carbide offers superior thermal conductivity, high breakdown voltage, low switching losses, and enhanced efficiency, making it a preferred material for next-generation high-power semiconductor devices.
The global market is valued at USD 3.48 billion in 2024 and is projected to reach USD 13.74 billion by 2030, registering a remarkable CAGR of 25.6% during 2024-2030. This surge is fueled by EV penetration, expansion of fast-charging infrastructure, and rapid adoption of SiC MOSFETs, diodes, and power modules.
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Market Growth (2024-2030)
• Market Size 2024: USD 3.48 billion
• Market Size 2030: USD 13.74 billion
• CAGR: 25.6%
Asia-Pacific dominates the market due to strong automotive manufacturing, semiconductor fabrication, renewable energy expansion, and large investments in SiC foundries.
Key Market Drivers
• Rapid global adoption of electric vehicles (EVs) and hybrid EVs
• High demand for SiC MOSFETs and Schottky diodes in fast chargers and onboard chargers (OBCs)
• Expansion of renewable energy systems, especially solar inverters and wind turbines
• Growth in industrial applications requiring high-temperature and high-voltage performance
• Increasing use in rail traction, aerospace power modules, and defense electronics
• Technological advancements in 4H-SiC wafers, epitaxy, and power module packaging
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Market Segmentation
By Product
• Black Silicon Carbide
• Green Silicon Carbide
• SiC Semiconductors
o SiC MOSFETs
o SiC Schottky Diodes
o SiC Power Modules
o SiC Discrete Devices
By Device Type
• Power Modules
• Schottky Diodes
• MOSFETs
• Hybrid Modules
• Others
By Wafer Size
• 4-inch
• 6-inch (Market Standard)
• 8-inch (Emerging High-Growth Segment)
By Application
• Automotive & EV (Inverters, OBCs, DC-DC Converters)
• Renewable Energy (Solar Inverters, Wind Energy Systems)
• Power Electronics
• Industrial Motor Drives
• Aerospace & Defense
• Rail & Traction
• Consumer Electronics
• Telecom & Data Centers (5G Infrastructure, UPS Systems)
By End-Use Industry
• Automotive
• Energy & Power
• Electronics & Semiconductors
• Aerospace & Defense
• Industrial Manufacturing
• Telecommunication
• Transportation
By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
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Key Market Trends
• Massive investments in 8-inch SiC wafer production capacity by global semiconductor leaders
• Adoption of SiC devices in EV 800-volt architectures for improved efficiency and range
• Rise in SiC-based solar inverters for high-performance energy conversion
• Growing integration of SiC modules in data centers and 5G telecom equipment
• Increased focus on epitaxy advancements and defect-free crystalline structures
• Partnerships between OEMs and SiC manufacturers for long-term supply agreements
Competitive Landscape
Leading companies operating in the Silicon Carbide Market include:
• Wolfspeed (Cree Inc.)
• Infineon Technologies AG
• STMicroelectronics
• ON Semiconductor
• ROHM Semiconductor
• II-VI Incorporated (Coherent Corp.)
• Toshiba Corporation
• Fuji Electric
• Microchip Technology
• Renesas Electronics
These companies are investing heavily in wafer fabs, next-generation power devices, SiC epitaxy, and strategic EV industry collaborations.
Recent Developments
• Wolfspeed expands its 200mm SiC wafer fab capacity in the U.S.
• STMicroelectronics signs long-term SiC supply agreements with major EV OEMs
• Infineon launches high-efficiency SiC MOSFETs for solar and energy storage systems
• Asian manufacturers accelerate domestic SiC wafer and epitaxy production
• New SiC-based fast chargers deployed across Europe and North America
• Research in SiC-GaN hybrid power modules to enhance switching performance
This report is also available in the following languages : Japanese (シリコンカーバイド市場), Korean (실리콘 카바이드 시장), Chinese (碳化硅市场), French (Marché du carbure de silicium), German (Siliziumkarbid-Markt), and Italian (Mercato del carburo di silicio), etc.
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