Press release
Silicon Carbide (SiC) Semiconductor Market Set to Reach US$2,637.09 million by 2032 at a (CAGR 15.9%) | Major Players - ON Semiconductor, GeneSiC Semiconductor, ROHM Semiconductor
Silicon Carbide (SiC) Semiconductor Market Size
✅ The SiC Power Modules segment expanded from USD 1.05 billion in 2022 to USD 1.08 billion in 2023, driven by increasing adoption worldwide.
✅ North America dominated the Global Silicon Carbide (SiC) Semiconductor Market in 2022 with a market value of USD 1.13 billion, growing further to USD 1.20 billion in 2023.
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Latest M & A
1. onsemi completes acquisition of Qorvo's SiC JFET technology business (including United Silicon Carbide) for $115 M in cash, bolstering its SiC power semiconductor portfolio for EV, industrial and AI data center applications (completed Jan 15 2025) - signals strategic expansion in SiC tech.
Key Players:
Infineon Technologies, Littelfuse, ON Semiconductor, Wolfspeed Inc, Fuji Electric, X-FAB, GeneSiC Semiconductor, Mitsubishi Electric, STMicroelectronics, ROHM Semiconductor
Key Development:
January 2026
✦ Leading SiC chip manufacturers announced capacity expansions to meet rising EV and renewable energy demand.
✦ New partnerships formed between SiC material suppliers and automotive OEMs to accelerate EV adoption.
✦ Breakthroughs reported in SiC power module efficiency, enhancing thermal management and reducing costs.
December 2025
✦ Major acquisitions in the SiC substrate sector consolidated market leadership and expanded technology portfolios.
✦ SiC wafer prices saw a gradual decline due to improved manufacturing yields and scaling efforts.
✦ Enhanced SiC device reliability standards introduced to support industrial and aerospace applications.
November 2025
✦ Launch of next-gen SiC MOSFETs with higher voltage ratings targeted at electric vehicle powertrains.
✦ Industry players invested heavily in R&D for SiC-based power electronics integration.
✦ Expansion of global SiC supply chains to reduce dependency on limited raw material sources.
Growth Forecast Projected:
The Global Silicon Carbide (SiC) Semiconductor Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Research Process:
Both primary and secondary data sources have been used in the global Silicon Carbide (SiC) Semiconductor Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
Latest Investments
✅ Wolfspeed announced a $1.5 billion expansion plan for its SiC wafer fabrication facility in the U.S. in early 2026.
✅ STMicroelectronics invested $600 million to scale up SiC device production across Europe in 2025.
✅ ON Semiconductor secured $400 million funding to enhance SiC power module manufacturing capabilities in North America.
✅ Infineon Technologies committed $750 million toward new SiC semiconductor fab lines to meet rising EV demand by 2027.
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Key Segments:
By Type: SiC Discrete Devices, SiC Power Modules, SiC Substrates and Wafers, Others
By Wafer Size: 2-inch Wafers, 4-inch Wafers, 6-inch Wafers, 8-inch Wafers
By Technology: Planar SiC Technology, Trench SiC Technology
By Application: Automotive, Consumer Electronics, Industrial Aerospace & Defense, Telecommunications, Energy & Power, Others
Regional Analysis for Market:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
Chapter 1: Lays the foundation by defining the scope of the report, highlighting core market segments across regions, product types, and applications. It delivers a clear snapshot of current market size, growth potential, and how the industry is expected to evolve in both the near and long term.
Chapter 2: Spotlights the most impactful market insights, unveiling the transformative trends and forces shaping the future of the industry.
Chapter 3: Provides a deep dive into the competitive landscape of , covering revenue shares, strategic initiatives, and notable mergers & acquisitions that are reshaping the market.
Chapter 4: Presents detailed company profiles of leading players featuring financial performance, product portfolios, profit margins, and key milestones that set them apart in the industry.
Chapters 5 & 6: Break down revenue analysis at both regional and country levels, offering precise data on market size, growth drivers, and expansion opportunities across global markets.
Chapter 7: Analyzes the market by product type, spotlighting segment-specific opportunities and helping stakeholders identify untapped, high-growth areas.
Chapter 8 :Explores the market through application-based segmentation, assessing demand across industries and pinpointing downstream sectors with the strongest potential for growth.
Chapter 9: Maps the industry's supply chain in detail, tracing upstream and downstream activities to provide clarity on value creation across the ecosystem.
Chapter 10: Wraps up with a concise summary of the report's key insights distilling the most critical findings and strategic takeaways for decision-makers and stakeholders.
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FAQ
Q1: What is the current size of the Silicon Carbide (SiC) Semiconductor Market?
A: The Silicon Carbide (SiC) Semiconductor Market was valued at US$810.2 million in 2024 and is forecasted to reach US$2,637.09 million by 2032
Q2: How rapidly will the Market expand?
A: The Silicon Carbide (SiC) Semiconductor market is projected to grow at a CAGR of 15.9% between 2025 and 2032.
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