Silicon Carbide Market Size, Share & Industry Analysis, By Device (SiC Discrete Device, SiC Bare Die, Others), By Application (Power Grid Devices, Flexible AC Transmission System, High-Voltage Direct Current System, Power Supplies and Inverter, RF Devices & Cellular Base Station, Lighting Control System, EV Charging Station, Others) And Regional Forecast, 2024-2032

The global silicon carbide market is fueled by growing industrial applications, ongoing research and development initiatives, and the adoption of cutting-edge technologies. Silicon carbide also called as carborundum, is a semiconductor that consists of silicon and carbon. Naturally, it occurs as a very rare mineral moissanite and synthetically it is produced as SiC powder. Grains of silicon carbide can be bonded together by sintering process to form hard ceramics. Silicon carbide has wide range of applications that include car brakes, car clutches, LEDs, detectors, and ceramic plates in bulletproof jackets and vests.

Increasing demand for SiC semiconductors in electronic devices like LEDs, detectors and sensors shall drive the market. the growing adoption of renewable energy sources for power generation is expected to positively impact the market. Additionally, the increasing steel production is one of the major factor boosting the market.

However, there are cost-effective alternatives in market for silicon carbide. Gallium nitride is one of the substitute which is used in power modules as transistors. This is expected to hinder the market growth.

Silicon Carbide Market Segmentation:

Based on device, the global silicon carbide industry is segmented into SiC discrete device and SiC bare die. Based on application, market is segmented into power grid devices, flexible ac transmission system, high-voltage, direct current system, power supplies and inverter, rf devices & cellular base station, lighting control system, ev charging station, and other applications.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global silicon carbide market consists of global & regional players operating. Some of the key players in the market include-

• Infineon Technologies AG


• CREE, INC


• ST Microelectronics N.V.


• Fuji Electric Co., Ltd


• General Electric


• GeneSiC Semiconductor Inc.


• Toshiba Corporation


• Powerex Inc.


• Others

Key Insights

• New Advancements in Production Technologies


• Key Trends in the Silicon Carbide Market


• New Product Launches, Expansions, Key Players


• Ranking of Key Players in the Market

Regional Insights

The silicon carbide industry has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  Asia pacific is accounted for the largest market in 2018 attributed to the high consumption of silicon carbide for electric components. Additionally, government initiatives to support use of clean energy for vehicles shall support regional growth. North America and Europe is expected to show substantial growth attributed to large manufacturing base of semiconductor devices and substantial demand for EV hybrids. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of forecast period.

Segmentation

Silicon Carbide Industry Developments

• In November 2020, Infineon expands supply base for silicon carbide with GT advanced technologies. The contract has initial term of 5 years for supplying SiC boules.


• In June 2020, Infineon launched a new silicon carbide power module for electric vehicles. The product is highly efficient, high power density and performance.