Global SiC Power Semiconductor Market Overview
Market Research Future (MRFR), in their latest report, have mentioned that the global SiC power semiconductor market is expected to experience robust growth over the forecast period of 2018-2023, expanding at a whopping 26.3% CAGR. The global SiC power semiconductor market is expected to garner a market revenue valuation of USD 1,359 million by the end of the forecast period.
Silicon carbide is a compound semiconductor used across several industry verticals. Such a wide scope of application is because of several performance benefits offered by SiC power semiconductors. The higher critical electrical field, higher operating temperatures, and higher thermal conductivity, among other properties of silicon carbide are promising for qualitative applications in several high-performance power systems, as compared to its traditional silicon counterparts. Such properties enable an enhanced performance which is fostering market growth.
Moreover, the rising number of energy efficiency and solar power projects, especially in emerging economies is expected to support market ascension during the forecast period. Since SiC power semiconductor is a relatively new technology, it is met with certain friction in way of challenges which are not yet addressed. High cost of fabrication, expensive and bulky packaging of the same, and complexities in design are few factors hindering market growth. Further, lack of expertise for the same is restricting the SiC power semiconductor market.
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Mitsubishi Electric Corporation, STMicroelectronics NV, Cree Inc., ON Semiconductor, and Infineon Technologies AG are some of the prominent participants in the global SiC power semiconductor market.
August 2019: Cree recently announced its investment of up to USD 1 billion in the expansion of its silicon carbide production capacity, as a part of its long term growth strategy. Carbide is a market leader in the production of lighting-class LEDs and other lighting products.
The global SiC power semiconductors market is studied for the segments of wafer size, device, application, end-user, and region. By device, the global SiC power semiconductor market has been segmented into SiC discrete devices and SiC bare die devices. The SiC discrete devices segment has been further segmented into MOSFET, diode, and module. By wafer size, the global SiC power semiconductor market has been segmented into 2-inch, 4-inch, and 6-inch and above.
By application, the global SiC power semiconductor market has been segmented into RF devices & cellular base stations, power supply & inverter, power grids, EV motors, industrial motor drives, and railway traction. By end-user, the global SiC power semiconductor market has been segmented into telecommunication, energy & power, automotive, industrial, and electronics.
Detailed Regional Analysis
On the basis of geography, segments of the global SiC Power Semiconductor Market include North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Asia Pacific is the foremost market at the beginning of the forecast period. The APAC region is anticipated to boast the retained dominion over the global SiC power semiconductor market through the review period. Such dictation can be causative to the expansion of 4G and LTE network in the region. Such expansion has resulted in the proliferation of cellular base station and RF base stations in the region, supplementing the market growth.
Furthermore, a rise in the number of energy efficiency projects in the region is expected to promote the regional SiC power semiconductor market growth. Governments residing in the region have announced several regulations and initiatives to support the development of solar power in the region. This has enabled a faster shift to sustainable energy alternatives.
Europe is expected to witness a rise in demand for SiC power semiconductors owing to the snowballing noted in the automotive industry. North America is expected to account for around 25% share of the SiC semiconductor market.
LIST OF TABLES
TABLE 1 MARKET SYNOPSIS 16
TABLE 2 LIST OF ASSUMPTIONS 19
TABLE 3 GLOBAL SIC POWER SEMICONDUCTOR MARKET, BY DEVICE, 2017-2023 (USD MILLION) 41
TABLE 4 GLOBAL SIC POWER SEMICONDUCTOR MARKET, BY SIC DISCRETE DEVICES, 2017-2023 (USD MILLION) 42
TABLE 5 GLOBAL SIC POWER SEMICONDUCTOR MARKET, BY WAFER SIZE, 2017-2023 (USD MILLION) 45
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LIST OF FIGURES
FIGURE 1 GLOBAL SIC POWER SEMICONDUCTOR MARKET: MARKET STRUCTURE 19
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 24
FIGURE 3 DROC ANALYSIS OF GLOBAL SIC POWER SEMICONDUCTOR MARKET 27
FIGURE 4 DRIVERS IMPACT ANALYSIS: GLOBAL SIC POWER SEMICONDUCTOR MARKET 29
FIGURE 5 RESTRAINTS IMPACT ANALYSIS: GLOBAL SIC POWER SEMICONDUCTOR MARKET 30
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