SiC Power Device - Global Strategic Business Report

The global market for SiC Power Device was valued at US$1.8 Billion in 2024 and is projected to reach US$4.9 Billion by 2030, growing at a CAGR of 18.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the SiC Power Device market.

Global 'SiC Power Device' Market - Key Trends & Drivers Summarized

Why Are SiC Power Devices Revolutionizing High-Efficiency Power Conversion?

Silicon carbide (SiC) power devices have emerged as a disruptive force in the global power electronics landscape, offering superior efficiency, thermal performance, and switching speed over traditional silicon-based semiconductors. These wide-bandgap devices are designed to handle higher voltages and operate at elevated temperatures, making them ideal for high-power applications such as electric vehicles (EVs), renewable energy systems, industrial drives, aerospace, and smart grid infrastructure. The fundamental properties of SiC - including a higher breakdown electric field, wider bandgap, and greater thermal conductivity - enable the design of smaller, faster, and more energy-efficient systems. In EVs, for instance, SiC-based MOSFETs and Schottky diodes are used in traction inverters and onboard chargers to significantly improve driving range and reduce charging time. In solar inverters, they reduce power losses and allow higher-frequency operation, minimizing the size of passive components. Compared to traditional silicon IGBTs and diodes, SiC devices offer reduced conduction and switching losses, greater power density, and longer operational lifespans. These attributes are not just improving system performance - they’re redefining what’s technologically and commercially viable in next-generation power management systems.

How Are Material And Fabrication Advances Accelerating SiC Device Adoption?

Rapid advancements in SiC wafer technology, device architecture, and manufacturing processes are playing a pivotal role in driving down costs and improving the performance of SiC power devices. The transition from 4-inch to 6-inch and now 8-inch SiC wafers has significantly improved fabrication yield and economies of scale, making SiC devices more cost-competitive with their silicon counterparts. Innovations such as trench MOSFET structures, JFETs, and hybrid modules with integrated gate drivers are enhancing current handling, voltage blocking, and thermal performance while minimizing on-resistance. Wafer thinning, advanced epitaxial growth techniques, and defect density reduction have improved device reliability and enabled the development of high-voltage SiC modules up to 3.3 kV and beyond. Moreover, new packaging technologies - such as sintered silver, double-sided cooling, and substrate-less modules - are enabling better thermal management and higher integration densities. These advances are complemented by sophisticated simulation tools and AI-assisted design workflows that shorten time-to-market and improve functional predictability. Additionally, collaborations between SiC foundries, equipment manufacturers, and automotive OEMs are fast-tracking industrial validation and accelerating global supply chain readiness. As material purity, processing precision, and scalability improve, SiC is rapidly transitioning from niche to mainstream in high-performance power electronics.

Where Are SiC Power Devices Making The Biggest Industry Impact?

SiC power devices are making deep inroads across industries where power efficiency, compactness, and thermal robustness are mission-critical. The electric vehicle (EV) sector is the largest and fastest-growing consumer of SiC devices, using them in main traction inverters, DC-DC converters, and onboard chargers. Major automotive manufacturers - including Tesla, BYD, Hyundai, and Volkswagen - are integrating SiC modules to achieve longer driving ranges, faster charging, and better thermal efficiency. In the renewable energy sector, particularly solar and wind power, SiC-based inverters improve power conversion efficiency and reduce form factors, making installation and maintenance easier. Industrial applications - such as motor drives, robotics, and uninterruptible power supplies (UPS) - leverage SiC for improved switching behavior and durability in harsh conditions. Aerospace and defense sectors deploy SiC components in satellites, radar systems, and power subsystems where radiation tolerance and reliability are critical. Smart grid systems and high-voltage DC (HVDC) transmission benefit from the high-speed switching and power density offered by SiC-based converters and breakers. Data centers, too, are exploring SiC to improve energy efficiency and reduce cooling needs in power distribution units (PDUs) and server power supplies. These varied applications underscore SiC’s transformative potential across the electrification value chain.

The Growth In The SiC Power Device Market Is Driven By Several Factors That Reflect Electrification Trends, Performance Demands, And Supply Chain Maturity

The global shift toward electrification - especially in transportation and renewable energy - is the most powerful driver propelling the SiC power device market forward. The surging production of electric vehicles has significantly increased demand for high-efficiency inverters and fast-charging solutions, where SiC outperforms traditional silicon components. Government mandates and incentives promoting clean mobility and carbon-neutral targets are reinforcing this adoption, particularly in China, Europe, and the U.S. The growing need for high-voltage, compact, and reliable power systems in solar farms, wind turbines, and grid storage is also accelerating SiC deployment. On the supply side, the expansion of foundry capabilities, notably by companies like Wolfspeed, STMicroelectronics, Rohm, Infineon, and ON Semiconductor, is improving material availability and cost efficiency. Additionally, rising investments in SiC-based R&D and vertical integration strategies are enhancing wafer quality, device consistency, and long-term supply security. Thermal and power density demands from data centers, aerospace systems, and industrial motors further drive SiC’s relevance, especially as conventional silicon hits performance ceilings. Meanwhile, the maturation of design ecosystems - including simulation software, drive circuitry, and training resources - is lowering adoption barriers for OEMs and designers. Together, these trends - involving electrification goals, performance thresholds, regulatory tailwinds, and manufacturing readiness - are shaping a vibrant, high-growth trajectory for the global SiC power device market.

Report Scope

The report analyzes the SiC Power Device market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments: Product Type (SiC Diode, SiC Power Module, SiC MOSFETs, SiC Gate Driver); Application (Inverter / Converter Application, Power Supply Application, Motor Drive Application, Photovoltaic / Energy Storage Systems Application, Flexible AC Transmission Systems Application, RF Devices & Cellular Base Stations Application, Other Applications); End-Use (Aerospace & Defense End-Use, Consumer Electronics End-Use, IT & Telecommunication End-Use, Automotive & Transportation End-Use, Other End-Uses).

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the SiC Diode segment, which is expected to reach US$1.8 Billion by 2030 with a CAGR of a 16.3%. The SiC Power Module segment is also set to grow at 20.6% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $489.1 Million in 2024, and China, forecasted to grow at an impressive 23.8% CAGR to reach $1.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global SiC Power Device Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global SiC Power Device Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global SiC Power Device Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Bosch, Coherent Corp., Diodes Incorporated, Fuji Electric Co., Ltd., GeneSiC Semiconductor Inc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 32 companies featured in this SiC Power Device market report include:

• Bosch
• Coherent Corp.
• Diodes Incorporated
• Fuji Electric Co., Ltd.
• GeneSiC Semiconductor Inc.
• Infineon Technologies AG
• Littelfuse Inc.
• Mersen
• Microchip Technology Inc.
• Mitsubishi Electric Corporation
• Nexperia
• NXP Semiconductors N.V.
• onsemi
• Qorvo, Inc.
• Renesas Electronics Corporation
• ROHM Co., Ltd.
• STMicroelectronics N.V.
• Toshiba Corporation
• WeEn Semiconductors Co., Ltd.
• Wolfspeed, Inc.

Tariff Impact Analysis: Key Insights for 2025

Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.

The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.

What's Included in This Edition:

• Tariff-adjusted market forecasts by region and segment
• Analysis of cost and supply chain implications by sourcing and trade exposure
• Strategic insights into geographic shifts

Buyers receive a free July 2025 update with:

• Finalized tariff impacts and new trade agreement effects
• Updated projections reflecting global sourcing and cost shifts
• Expanded country-specific coverage across the industry