Silicon Carbide Market Size Analysis, Industry Outlook, & Region Forecast, 2022-2030
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The Silicon Carbide (SiC) market size is expected to reach USD 7.79 Billion in 2030 and register revenue CAGR of 11.4% over the forecast period, according to the latest report by Reports and Data. Increasing demand for SiC devices in power electronics and reduction in size of SiC-enabled devices are the key factors driving market revenue growth over the forecast period.
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The materials and chemical sector is significantly growing in terms of revenue and is expected to register rapid revenue growth during the forecast period. This can be attributed to the rising demand for raw materials and chemicals in various industrial sectors including biotechnology and pharmaceutical, paper and pulp, agriculture, medical and healthcare, and food and beverages among others. Other factors such as increasing awareness about energy efficiency and green energy, the rising need for reducing carbon emissions, and increasing research and development activities are expected to fuel the market growth during the forecast period. In addition, the high demand for organic products, the rapidly growing industrial sector, and building and construction activities around the globe are expected to drive global market growth going ahead.
Competitive Landscape:
The report offers detailed information about recent activities by market players along with their financial status, market position, global standing, services, and product base along with license agreement. These key players are adopting various strategies such as partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market. These players are also investing in research and development activities to come up with advanced materials and products. the leading companies operating in the global Silicon Carbide (SiC) markets include STMicroelectronics N.V., Infineon Technologies AG, Rohm Co Ltd, Wolfspeed, , ON SemiconductorCorporation, Fuji Electric Co., Ltd., Renesas Electronics Corporation, Microchip Technology Inc., Toshiba Corporation, General Electric Company, GeneSiC Semiconductor Inc., ESD-SIC B.V., Entegris, Inc., Powerex Inc., and SEMI Co. Ltd.
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Silicon Carbide (SiC) Market Segmentation:
Product Outlook (Revenue, USD Billion; 2019-2030)
- Green Silicon Carbide
- Black Silicon Carbide
- Others
Device Outlook (Revenue, USD Billion; 2019-2030)
- SiC Discrete Device
- SiC Bare Die
- SiC Module
Wafer Size Outlook (Revenue, USD Billion; 2019-2030)
- 2 Inch
- 4 Inch
- 6 Inches and above.
Application Outlook (Revenue, USD Billion; 2019-2030)
- Power Grid Devices
- High Voltage Direct Current System
- Power Supplies Invertor
- EV Charging Station
- RF Devices and Cellular Base Station
- Flexible AC Transmission System
- Industrial Motor Drives
- Lighting Control Systems
- Solar Power Systems
- Wind Energy
- Others
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Steel
- Automotive
- Energy and Power
- Electrical and Electronics
- Defense and Aerospace
- Others
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Key Regional Markets:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key questions addressed in the report:
- What was the market size of the global Silicon Carbide (SiC) markets in 2020?
- Which key factors are expected to drive global Silicon Carbide (SiC) markets during the forecast period?
- Which application segment is expected to register the fastest revenue CAGR over the forecast period?
- Which factors are expected to hamper global market growth between 2021 and 2028?
- Which regional market is expected to account for a significant revenue share in the global Silicon Carbide (SiC) markets over the forecast period?
- Which region is expected to register the fastest revenue CAGR over the forecast period?
- Which key players are operating in the global Silicon Carbide (SiC) markets?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
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