July 23, 2020

Surge in the Number of End-Users to Benefit SiC Power Semiconductor Market Outlook

SiC Power Semiconductor Market Outlook Research Report, by Device (Discrete Devices, Bare Die Device), by Wafer Size (2-inch, 4-inch, 6-inch & above), End Users (Telecommunication, Energy and Power, Power Electronics), by Application — Global Forecast till 2023

Market Highlights

Market Research Future (MRFR)’s new report indicates substantial growth for the SiC Power Semiconductor Market Outlook 2020, apparent from its expansion rate of 26.3% from 2018 to 2023 (review period). The market value by the end of 2023 is expected to be USD 1,359.2 million, adds MRFR.

Top Competitors

Cree Inc., ON Semiconductor, Infineon Technologies AG, STMicroelectronics NV, Mitsubishi Electric Corporation, are some of the prominent competitors profiled in the report.

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Top Boosters and Key Challenges

Appealing properties of silicon carbide (SiC) like wider band gap, greater breakdown electric field strength, high resistance to chemical reaction, and lower thermal expansion boost their demand over conventional silicon semiconductors in the market. SiC power semiconductor electronic devices are able to bear higher temperatures and voltages compared to their their silicon counterparts.

In addition, SiC holds higher current, which is roughly five times higher than their silicon counterparts; as a result of which they provide lower ON resistance and lower switching loss leading to less power loss. Mounting demand for power electronics is working in favor of the silicon carbide (SiC) power semiconductors market. Rising demand for power electronics across several industries including medical, defense and aerospace has boosted the growth of the silicon carbide power semiconductors market in recent years.

The surge in the number of energy efficiency projects to meet with the consistently increasing energy issues can induce the demand for SiC power semiconductors. Governments everywhere, but mostly in developing nations with higher energy crisis are putting in immense efforts to tackle these issues. SiC power devices also offer highly desirable benefits compared to silicon, and are therefore, massively used in the generation of electricity using solar power.

The use of power electronics has also increased in numerous applications like electric grid stabilization, consumer electronics and industrial motor drives. The demand for SiC-powered photovoltaic cells has risen significantly in developing nations like Brazil, India and China, leading to better growth prospects for the global market.

Market Segmentation

The primary segments that are included in the study of the SiC Power Semiconductor Market Outlook are device, wafer size, application, and end user.

The device-wise segments in the market are SiC bare die devices as well as SiC discrete devices. The types of SiC discrete devices are diode, module and MOSFET.

The segments based on the wafer size discussed in the report are 2-inch, 4-inch, 6-inch and above.

The various applications of SiC power semiconductors are railway traction, power supply & inverter, industrial motor drives, EV motors, power grids, RF devices & cellular base stations, and others.

Significant end-users in the market for SiC power semiconductor are electronics, & power, telecommunication, industrial, automotive, and others.

Regional Study

The regional study of the SiC Power Semiconductor Market Outlook comprises Europe, North America, Asia Pacific (APAC), as well as the Rest of the World (RoW).

APAC, with the highest share, dominates the global SiC Power Semiconductor Market Outlook. The increasing dependency on digitalization and the digital infrastructure has given way to more research & development in high-speed internet. 5G is all set to be deployed by 2020 across the developing nations of India and China. The 5G wireless standard infrastructure will boost the penetration rate of smart devices as well as internet of things, which can lead to higher demand for SiC Power Semiconductor Market Outlook. Also, increase in energy efficiency projects paired with the surge in government initiatives to promote the use of solar power can stimulate market growth in the coming period. The region also attracts sizeable investments from global players, which also benefits the regional market.

North America has seized a share of 25% in the global market, thanks to the huge number of eminent silicon carbide manufacturers and the massive spending on R&D activities. With the increasing number of high power applications of SiC, the Advanced Research Projects Agency-Energy (ARPA-E) in the U.S is planning to invest an amount of USD 30 million in at least 21 projects, which is a part of the CIRCUITS program.

LIST OF TABLES

Table 1 Global SiC Power Semiconductor Market Outlook, By Region, 2018–2023

Table 2 North America: SiC Power Semiconductor Market Outlook, By Country, 2018–2023

Table 3 Europe: SiC Power Semiconductor Market Outlook, By Country, 2018–2023

Table 4 Asia-Pacific: SiC Power Semiconductor Market Outlook, By Country, 2018–2023

Table 5 Middle East & Africa: SiC Power Semiconductor Market Outlook, By Country, 2018–2023

Continued……

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LIST OF FIGURES

FIGURE 1 Global SiC Power Semiconductor Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis Of Global SiC Power Semiconductor

FIGURE 4 Value Chain Of Global SiC Power Semiconductor

FIGURE 5 Share Of Global SiC Power Semiconductor In 2017, By Country (In %)

Continued……

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