Overview and Scope
A silicon carbide semiconductor device refers to a silicon carbide substrate, a primary electrode, the first barrier layer and an interconnecting layer. These devices are small, robust and very efficient for developing power electronic devices in batteries and detectors.
Sizing and Forecast
The silicon carbide semiconductor device market size has grown exponentially in recent years. It will grow from $1.59 billion in 2023 to $2 billion in 2024 at a compound annual growth rate (CAGR) of 25.2%. The growth in the historic period can be attributed to early development in silicon carbide (sic), demand for high-temperature applications, power electronics evolution, telecommunications and rf applications, military and aerospace applications..
The silicon carbide semiconductor device market size is expected to see exponential growth in the next few years. It will grow to $4.52 billion in 2028 at a compound annual growth rate (CAGR) of 22.7%. The growth in the forecast period can be attributed to growth in electric vehicles (evs), renewable energy expansion, 5g network deployment, industrial and motor drives, growth in power transmission.. Major trends in the forecast period include increasing power density requirements, adoption in automotive industry, expansion in power electronics, rapid advancements in manufacturing, proliferation of renewable energy..
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Segmentation & Regional Insights
The silicon carbide semiconductor device market covered in this report is segmented –
1) By Type: SIC Diode, SIC Transistor, Other Types
2) By Wafer Size: 1 Inch To 4 Inches, 6 Inches, 8 Inches, 10 Inches And Above
3) By End-User: Automotive, Consumer Electronics, Aerospace And Defense, Medical Devices, Data And Communication Devices, Energy And Power, Other End-Users
Asia-Pacific was the largest region in the silicon carbide semiconductor device market in 2023. The regions covered in the silicon carbide semiconductor device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for electric vehicles is expected to propel the growth of the silicon carbide semiconductor device market going forward. An electric vehicle refers to a motorized vehicle that works on electricity from a battery and that can be externally charged. Silicon carbide semiconductor device is beneficial in electric vehicle (EV) powertrains as it provides higher power densities and switching efficiency, as a result, increasing demand for electric vehicles increases the demand for silicon carbide semiconductor devices. For instance, in September 2022, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, sales of electric vehicles increased in 2021 compared to the previous year. Further, sales nearly doubled to 6.6 million (a sales share of approximately 9%) compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Furthermore, according to the Net Zero Emissions by 2050 Scenario, there would be more than 300 million electric cars on the road by 2030 with 60% of all new car sales. Therefore, the increase in demand for electric vehicles drives the silicon carbide semiconductor device market.
Key Industry Players
Major companies operating in the silicon carbide semiconductor devices market are developing new silicon carbide-based devices with reduced switching losses to gain a competitive edge in the market. Switching losses refer to the energy losses that occur during the transition of a semiconductor device between its on-state (conducting) and off-state (non-conducting) conditions. For instance, in August 2023, Toshiba Electronic Devices & Storage Corporation, a Japan-based electronics company, launched its third-generation silicon carbide (SiC) MOSFETs with the introduction of the TWxxxZxxxC series. These devices, designed with industrial applications in mind, aim to minimize losses in various settings, including servers, data centers, electric vehicle (EV) charging stations, photovoltaic (PV) inverters, and uninterruptible power supplies (UPS). Notably, the MOSFETs in this series are housed in a TO-247-4L(X) package with a fourth pin, introducing a Kelvin connection for the gate drive signal source terminal. This innovation reduces parasitic inductance effects, enhancing high-speed switching performance. The series comprises devices with 650V and 1200V VDSS ratings, ensuring low losses even in high-frequency applications. With a capacity for continuous drain currents of up to 100A, these SiC MOSFETs represent a significant advancement in power electronics technology for industrial applications.
The silicon carbide semiconductor device market report table of contents includes:
1. Executive Summary
2. Silicon Carbide Semiconductor Device Market Characteristics
3. Silicon Carbide Semiconductor Device Market Trends And Strategies
4. Silicon Carbide Semiconductor Device Market – Macro Economic Scenario
5. Global Silicon Carbide Semiconductor Device Market Size and Growth
….
31. Global Silicon Carbide Semiconductor Device Market Competitive Benchmarking
32. Global Silicon Carbide Semiconductor Device Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Silicon Carbide Semiconductor Device Market
34. Silicon Carbide Semiconductor Device Market Future Outlook and Potential Analysis
35. Appendix
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