Silicon Carbide Power Semiconductors Market Overview:
The global silicon carbide (SiC) power semiconductor market was valued at $302 million in 2017, and is projected to reach $1,109 million by 2025, registering a CAGR of 18.1% from 2018 to 2025. The Asia-Pacific captured the highest market share of 49% in 2017 and is expected to be dominant throughout the forecast period, that is, 2018 to 2025.
Silicon carbide (SiC) power semiconductor is a compound semiconductor formed by combining silicon and carbide. It is majorly used in power electronics systems, which deal with control and conversion of electrical power effectively and efficiently. Silicon carbide (SiC) power devices have evolved from immature prototypes in laboratories to viable alternatives to Si-based power devices in high-efficiency and high-power density applications, owing to rapid innovation and development of the semiconductors industry.
SiC-based power devices have significant advantages over silicon-based power devices such as high breakdown voltage, high operating electric field, high operating temperature, high switching frequency, and low losses. SiC-based semiconductors are applicable in areas where high temperature, high voltage, and high-power density are required.
Increasing number of high-voltage, high-efficiency, and high-power density applications, such as industrial motor drives, telecommunication, renewable energy systems, and automotive electronics, drives the growth of the silicon carbide power semiconductors market. Moreover, there is increased penetration of electric vehicles, owing to government support and initiatives. Thus, increasing usage of SiC power devices in automotive electronics drives the market.
However, the growth of the SiC power semiconductors market is restrained by the high wafer cost of silicon carbide. High-purity SiC powder and high-purity silane (SiH4) are the critical precursors for producing SiC layers in the chips. High-purity SiC powder is currently available from a limited number of suppliers and is relatively expensive, while high-purity silane is produced by a few large multinational industrial gas companies. Thus, the market is restrained by the fewer raw material suppliers required for the creation of SiC substrates. However, owing to the rising technological developments, such as the advent of 5G, lucrative opportunities are created for the growth of the silicon carbide power semiconductors market.
The global silicon carbide (SiC) power semiconductors market is segmented by power module, industry vertical, and region. According to power module, it is bifurcated into power product and discrete product. On the basis of industry vertical, it is categorized into IT & telecom, aerospace & defense, industrial, energy & power, electronics, automotive, and healthcare. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Silicon Carbide Power Semiconductors Market:
Silicon Carbide Power Semiconductors Key Market Segments:
By Power Module
By Industry Vertical
By Region
The global silicon carbide (SiC) power semiconductor market was valued at $302 million in 2017, and is projected to reach $1,109 million by 2025, registering a CAGR of 18.1% from 2018 to 2025. The Asia-Pacific captured the highest market share of 49% in 2017 and is expected to be dominant throughout the forecast period, that is, 2018 to 2025.
Silicon carbide (SiC) power semiconductor is a compound semiconductor formed by combining silicon and carbide. It is majorly used in power electronics systems, which deal with control and conversion of electrical power effectively and efficiently. Silicon carbide (SiC) power devices have evolved from immature prototypes in laboratories to viable alternatives to Si-based power devices in high-efficiency and high-power density applications, owing to rapid innovation and development of the semiconductors industry.
SiC-based power devices have significant advantages over silicon-based power devices such as high breakdown voltage, high operating electric field, high operating temperature, high switching frequency, and low losses. SiC-based semiconductors are applicable in areas where high temperature, high voltage, and high-power density are required.
Increasing number of high-voltage, high-efficiency, and high-power density applications, such as industrial motor drives, telecommunication, renewable energy systems, and automotive electronics, drives the growth of the silicon carbide power semiconductors market. Moreover, there is increased penetration of electric vehicles, owing to government support and initiatives. Thus, increasing usage of SiC power devices in automotive electronics drives the market.
However, the growth of the SiC power semiconductors market is restrained by the high wafer cost of silicon carbide. High-purity SiC powder and high-purity silane (SiH4) are the critical precursors for producing SiC layers in the chips. High-purity SiC powder is currently available from a limited number of suppliers and is relatively expensive, while high-purity silane is produced by a few large multinational industrial gas companies. Thus, the market is restrained by the fewer raw material suppliers required for the creation of SiC substrates. However, owing to the rising technological developments, such as the advent of 5G, lucrative opportunities are created for the growth of the silicon carbide power semiconductors market.
The global silicon carbide (SiC) power semiconductors market is segmented by power module, industry vertical, and region. According to power module, it is bifurcated into power product and discrete product. On the basis of industry vertical, it is categorized into IT & telecom, aerospace & defense, industrial, energy & power, electronics, automotive, and healthcare. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Silicon Carbide Power Semiconductors Market:
- This study comprises the analytical depiction of the global silicon carbide power semiconductors market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2025 to highlight the financial competency of the market.
- Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers.
Silicon Carbide Power Semiconductors Key Market Segments:
By Power Module
- Power product
- Discrete product
By Industry Vertical
- IT & telecom
- Aerospace & defense
- Industrial
- Energy & power
- Electronics
- Automotive
- Healthcare
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Frequently Asked Questions about the Global Silicon Carbide (Sic) Power Semiconductor Market
What is the estimated value of the Global Silicon Carbide (Sic) Power Semiconductor Market?
What is the growth rate of the Global Silicon Carbide (Sic) Power Semiconductor Market?
What is the forecasted size of the Global Silicon Carbide (Sic) Power Semiconductor Market?
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CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SILICON CARBIDE (SIC) POWER SEMICONDUCTORS MARKET, BY POWER MODULE
CHAPTER 5: SILICON CARBIDE (SIC) POWER SEMICONDUCTORS MARKET, BY INDUSTRY VERTICAL
CHAPTER 6: SILICON CARBIDE (SIC) POWER SEMICONDUCTORS MARKET, BY REGION
CHAPTER 7: COMPANY PROFILES
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According to a recent report titled, Silicon Carbide Power Semiconductors Market: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global silicon carbide power semiconductors market was valued at $302 million in 2017 and is projected to reach $1,109 million by 2025, registering a CAGR of 18.1% from 2018 to 2025.
At present, the Asia-Pacific dominates the market, followed by Europe and North America. China dominated the global silicon carbide power semiconductors market in 2017, while the UK is expected to lead at a significant growth rate in Europe during the forecast period, i.e., 2018-2025.
The major advantages of silicon carbide power semiconductors over traditional silicon semiconductors are their wider bandgap, higher breakdown electric field, thermal conductivity, and saturated electron drift velocity. These properties enable SiC devices to operate at higher temperatures, withstand very high voltages, minimize energy loss, and operate at high frequencies (RF and microwave). Moreover, the high switching frequency of SiC power devices allows the size of the power electronics system to be comparatively smaller than power modules designed with silicon devices.
Increasing demand for efficient power electronics across various industry verticals, such as automotive, industrial, IT & telecom, electronics, and aerospace & defense, drives the growth of silicon carbide power semiconductors. Moreover, there is growing demand for efficient power electronics systems in renewable energy systems such as solar and wind energy power plants. The installation of renewable energy systems has been increasing, owing to the increased government support and initiatives. This drives the market for silicon carbide power semiconductors. In addition, with the increasing government support for the penetration of electric vehicles, there is growing demand for SiC power devices in automotive electronics, fueling the silicon carbide power semiconductors market. The establishment of 5G infrastructure during the forecast period is expected to provide lucrative opportunities for the growth of silicon carbide power semiconductors.
Key Findings of the Silicon Carbide (SiC) Power Semiconductors Market:
The power product segment generated the highest revenue in terms of power module for the global silicon carbide power semiconductors market in 2017.
In 2017, the IT & telecom segment was the highest revenue contributor in the industry vertical category.
The Asia-Pacific region is anticipated to exhibit the highest CAGR during the forecast period.
In 2017, the Asia-Pacific contributed the highest market revenue, followed by Europe, North America, and LAMEA.
The key players operating in the silicon carbide power semiconductors market are Infineon Technologies AG, Microsemi Corporation, General Electric, Power Integrations, Toshiba Corporation, Fairchild Semiconductor, STMicroelectronics, NXP Semiconductors, Tokyo Electron Limited, Renesas Electronics Corporation, ROHM, and Cree, Inc.
At present, the Asia-Pacific dominates the market, followed by Europe and North America. China dominated the global silicon carbide power semiconductors market in 2017, while the UK is expected to lead at a significant growth rate in Europe during the forecast period, i.e., 2018-2025.
The major advantages of silicon carbide power semiconductors over traditional silicon semiconductors are their wider bandgap, higher breakdown electric field, thermal conductivity, and saturated electron drift velocity. These properties enable SiC devices to operate at higher temperatures, withstand very high voltages, minimize energy loss, and operate at high frequencies (RF and microwave). Moreover, the high switching frequency of SiC power devices allows the size of the power electronics system to be comparatively smaller than power modules designed with silicon devices.
Increasing demand for efficient power electronics across various industry verticals, such as automotive, industrial, IT & telecom, electronics, and aerospace & defense, drives the growth of silicon carbide power semiconductors. Moreover, there is growing demand for efficient power electronics systems in renewable energy systems such as solar and wind energy power plants. The installation of renewable energy systems has been increasing, owing to the increased government support and initiatives. This drives the market for silicon carbide power semiconductors. In addition, with the increasing government support for the penetration of electric vehicles, there is growing demand for SiC power devices in automotive electronics, fueling the silicon carbide power semiconductors market. The establishment of 5G infrastructure during the forecast period is expected to provide lucrative opportunities for the growth of silicon carbide power semiconductors.
Key Findings of the Silicon Carbide (SiC) Power Semiconductors Market:
The power product segment generated the highest revenue in terms of power module for the global silicon carbide power semiconductors market in 2017.
In 2017, the IT & telecom segment was the highest revenue contributor in the industry vertical category.
The Asia-Pacific region is anticipated to exhibit the highest CAGR during the forecast period.
In 2017, the Asia-Pacific contributed the highest market revenue, followed by Europe, North America, and LAMEA.
The key players operating in the silicon carbide power semiconductors market are Infineon Technologies AG, Microsemi Corporation, General Electric, Power Integrations, Toshiba Corporation, Fairchild Semiconductor, STMicroelectronics, NXP Semiconductors, Tokyo Electron Limited, Renesas Electronics Corporation, ROHM, and Cree, Inc.
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
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- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
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