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Silicon Carbide Market Trends and Forecast

The future of the global silicon carbide market looks promising with opportunities in automotive, energy, industrial transportation, telecom and infrastructure, consumer industries. The global silicon carbide market is expected to grow with a CAGR of 17.8% from 2023 to 2028. The major drivers for this market are strong demand from the steel manufacturing & steel processing industry and rapidly growing demand from the electronics industry.
Silicon Carbide Market by SiC Based Devices, Application, Wafer Size, and End Use

Emerging Trends in the Silicon Carbide Market

Emerging trends, which have a direct impact on the dynamics of the industry, include introduction of smartcut SiC technology, growing emergence of larger sized SiC wafers, and growing emergence of polished silicon carbide (SiC) wafer manufacturing.

A total of 129 figures / charts and 119 tables are provided in this more than 235-page report to help in your business decisions. Sample figures with some insights are shown below.

In this market, SiC discrete devices is the largest SiC based device, whereas automotive is the largest end use. Growth in various segments of the silicon carbide market are given below:
 
Silicon Carbide Market by Segments
The study includes trends and forecast for the global silicon carbide market by SiC based devices, application, wafer size, and end use, and region as follows:

By SiC Based Device [Value ($ Million) shipment analysis for 2017 – 2028]:

By Application [Value ($ Million) shipment analysis for 2017 – 2028]:

  • RF Device and Cellular Base Stations
  • Power Grid Devices
  • Silicon Carbide AC Transmission Systems (FACTS)
  • High-Voltage, Direct Current (HVDC) Systems
  • Power Supplies and Inverters
  • Lighting Control Systems
  • Industrial Motor Drives
  • Others

By Wafer Size [Value ($ Million) shipment analysis for 2017 – 2028]:

  • 2-Inches
  • 4-Inches
  • 6-Inches and Above

By End Use [Value ($ Million) shipment analysis for 2017 – 2028]:

By Region [Value ($ Million) shipment analysis for 2017 – 2028]:

  • North America
  • United States
  • Canada
  • Mexico
  • Europe
  • Germnay
  • United Kingdom
  • France
  • Asia Pacific
  • China
  • India
  • Japan
  • The Rest of the World

List of Silicon Carbide Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies silicon carbide companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the silicon carbide companies profiled in this report include.

Silicon Carbide Market Insights

  • Lucintel forecasts that SiC discrete devices will remain the largest segment over the forecast period due to increasing demand for SiC discrete device in RF and cellular base station application, power supplies, and inverters.
  • Within this market, automotive will remain the largest segment by application over the forecast period due to growing due to rising adoption of electric vehicles.
  • APAC will remain the largest region over the forecast period due to high rate of development in countries, such as Japan and South Korea, and increasing adoption of new technologies of electric vehicles in developing economies.

Features of the Silicon Carbide Market

  • Market Size Estimates: Silicon carbide market size estimation in terms of value ($M).
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Silicon carbide market size by various segments, such as SiC based device, application, wafer size, and end use.
  • Regional Analysis: Silicon carbide market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different SiC based device, application, wafer size, end use, and regions for silicon carbide market.
  • Strategic Analysis: This includes M&A and competitive landscape for the silicon carbide .
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the silicon carbide market size?
Answer: The global silicon carbide market is expected to reach an estimated $3 billion by 2028.
Q2. What is the growth forecast for silicon carbide market?
Answer: The silicon carbide market is expected to grow at a CAGR of ~17.8% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the silicon carbide market?
Answer: The major drivers for this market are strong demand from the steel manufacturing & steel processing industry and rapidly growing demand from the electronics industry.
Q4. What are the major applications or end use industries for silicon carbide?
Answer: automotive, energy, industrial transportation, telecom and infrastructure, consumer industries
Q5. What are the emerging trends in silicon carbide market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include introduction of smartcut SiC technology, growing emergence of larger sized SiC wafers, and growing emergence of polished silicon carbide (SiC) wafer manufacturing.
Q6. Who are the key silicon carbide companies?
Answer: Some of the key silicon carbide companies are as follows:
  • Infineon Technologies
  • Wolfspeed, Inc.
  • StMicroelectronics N.V
  • ON Semiconductors
  • Renesas Electric Corporation
  • Fiven A/S
  • ROHM Co., Ltd.
  • Coorstek
  • Morgan Advanced Materials
  • Entegris
Q7.Which silicon carbide SiC based device segment will be the largest in future?
Answer: Lucintel forecasts that SiC discrete devices will remain the largest segment over the forecast period due to increasing demand for SiC discrete device in RF and cellular base station application, power supplies, and inverters.
Q8. In silicon carbide market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region in next 5 years.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the global silicon carbide market by SiC based device (SiC discrete devices, SiC modules, and SiC bare die), application (RF device and cellular base stations, power grid devices, silicon carbide AC transmission systems (FACTS), high-voltage, direct current (HVDC) systems, power supplies and inverters, lighting control systems, industrial motor drive, and others), wafer size (2-Inches, 4-Inches, and 6-Inches and above), end use (automotive, energy, industrial transportation, telecom and infrastructure, consumer, and others), and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities did take place in the last five years in this market?
 
For any questions related to silicon carbide market or related to silicon carbide companies, compound semiconductor market size, silicon carbide market share, silicon carbide analysis, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
 
1. Executive Summary
 
2. Global Silicon Carbide Market Background and Classifications
2.1: Introduction, Background, and Classification
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends and Forecasts
3.2: Global Silicon Carbide Market Trends and Forecast
3.3: Global Silicon Carbide Market by SiC Based Device
3.3.1: SiC Discrete Devices
3.3.2: SiC Module
3.3.3: SiC Bare Die
3.4: Global Silicon Carbide Market by Application
3.4.1: RF Device and Cellular Base Stations
3.4.2: Power Grid Devices
3.4.3: Silicon Carbide AC Transmission Systems (FACTS) 
3.4.4: High-Voltage, Direct Current (HVDC) Systems
3.4.5: Power Supplies and Inverters
3.4.6: Lighting Control Systems
3.4.7: Industrial Motor Drives
3.4.8: Others
3.5: Global Silicon Carbide Market by Wafer Size
3.5.1: 2-Inch
3.5.2: 4-Inch
3.5.3: 6-Inch and Above
3.6: Global Silicon Carbide Market by End Use
3.6.1: Automotive
3.6.2: Energy
3.6.3: Industrial
3.6.4: Transportation
3.6.5: Telecom & Infrastructure
3.6.6: Consumer
3.6.7: Others
 
4. Market Trends and Forecast Analysis from 2017 to 2028
4.1: Global Silicon Carbide Market by Region
4.2: North American Silicon Carbide Market Trends and Forecast
4.2.1: North American Silicon Carbide Market by SiC Based Device
4.2.2: North American Silicon Carbide Market by Application
4.2.3: North American Silicon Carbide Market by Wafer Size
4.2.4: North American Silicon Carbide Market by End Use Industry
4.2.5: United States Silicon Carbide Market
4.2.6: Canadian Silicon Carbide Market
4.2.7: Mexican Silicon Carbide Market
4.3: European Silicon Carbide Market Trends and Forecast
4.3.1: European Silicon Carbide Market by SiC Based Device
4.3.2: European Silicon Carbide Market by Application
4.3.3: European Silicon Carbide Market by Wafer Size
4.3.4: European Silicon Carbide Market by End Use Industry
4.3.5: German Silicon Carbide Market
4.3.6: United Kingdom Silicon Carbide Market
4.3.7: French Silicon Carbide Market
4.4: APAC Silicon Carbide Market Trends and Forecast
4.4.1: APAC Silicon Carbide Market by SiC Based Device
4.4.2: APAC Silicon Carbide Market by Application
4.4.3: APAC Silicon Carbide Market by Wafer Size
4.4.4: APAC Silicon Carbide Market by End Use
4.4.5: Japanese Silicon Carbide Market
4.4.6: Chinese Silicon Carbide Market
4.4.7: Indian Silicon Carbide Market
4.5: ROW Silicon Carbide Market Trends and Forecast
4.5.1: ROW Silicon Carbide Market by SiC Based Device
4.5.2: ROW Silicon Carbide Market by Application
4.5.3: ROW Silicon Carbide Market by Wafer Size
4.5.4: ROW Silicon Carbide Market by End Use
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Silicon Carbide Market by SiC Based Device
6.1.2: Growth Opportunities for the Global Silicon Carbide Market by Application
6.1.3: Growth Opportunities for the Global Silicon Carbide Market by Wafer Size
6.1.4: Growth Opportunities for the Global Silicon Carbide Market by End Use
6.1.5: Growth Opportunities for the Global Silicon Carbide Market by Region
6.2: Emerging Trends in the Global Silicon Carbide Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion in the Global Silicon Carbide Market
6.3.3: Licensing and Certification
 
7. Company Profiles of Leading Players
7.1: Infineon Technologies
7.2: Wolfspeed, Inc
7.3: StMicroelectronics N.V
7.4: ON Semiconductors
7.5: Renesas Electric Corporation
7.6: Fiven A/S
7.7: Entegris Inc
7.8: Coorstek
7.9: ROHM Co., Ltd
7.10: Morgan Advanced Materials
 
.

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142 figures/charts and 107 tables are provided in this 150 - page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.