SiC Power Device Market to Cross USD 8.60 Billion by 2030 Driven by Demand for High-Power and High-Frequency Devices

SiC Power Device Market Size, Share, Growth, Trend, Global Industry Overview and Regional Analysis, Forecast 2023 – 2030

AUSTIN, TEXAS, UNITED STATES, January 19, 2024 /EINPresswire.com/ — SNS Insider published an exclusive report, titled, “SiC Power Device Market Size, Share & Segmentation, By Component, By Product, By Wafer Size, By End-User, By Region, And Global Forecast For 2023-2030″.

The SiC Power Device Market, as per the SNS Insider report, witnessed a valuation of USD 1.55 Billion in 2022 and is projected to reach USD 8.60 Billion by 2030, experiencing a remarkable CAGR of 23.9% during the forecast period spanning from 2023 to 2030.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐜𝐨𝐩𝐞

Silicon Carbide (SiC) power devices represent a paradigm shift in the realm of power electronics. SiC, a wide-bandgap semiconductor, offers unique properties that enhance the efficiency and performance of power devices. These devices, including SiC diodes and transistors, leverage the superior thermal conductivity and high breakdown voltage of SiC, enabling them to operate at higher temperatures and voltages compared to traditional silicon-based devices.

𝐊𝐄𝐘 𝐃𝐑𝐈𝐕𝐄𝐑𝐒:
– Growing demand for SiC power devices in the automotive industry
– Increasing the use of silicon in power electronics
– Increasing adaption of Sic semiconductor

𝐎𝐏𝐏𝐎𝐑𝐓𝐔𝐍𝐈𝐓𝐘:
– Focusing on solar power system
– SiC uses for developing sustainable energy
– Sic Manufacturers’ Strategic Partnership and Acquisition,

𝐆𝐞𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐟 𝐒𝐢𝐂 𝐏𝐨𝐰𝐞𝐫 𝐃𝐞𝐯𝐢𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 @ https://www.snsinsider.com/sample-request/3340

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐑𝐞𝐜𝐞𝐬𝐬𝐢𝐨𝐧

The ongoing recession has introduced a complex interplay of challenges and opportunities for the SiC power device market. On the negative side, economic uncertainties and reduced consumer spending have led to a slowdown in the adoption of new technologies, impacting the overall demand for SiC power devices. However, on a positive note, the recession has prompted businesses to seek cost-effective and energy-efficient solutions to maintain competitiveness. In this context, SiC power devices offer a compelling value proposition by improving energy efficiency and reducing operational costs. As industries strive to optimize their energy consumption and operational efficiency during challenging economic times, SiC power devices may emerge as a strategic choice for enhancing overall system performance.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐑𝐮𝐬𝐬𝐢𝐚-𝐔𝐤𝐫𝐚𝐢𝐧𝐞 𝐖𝐚𝐫

The Russia-Ukraine war has introduced geopolitical uncertainties that can potentially affect the global supply chain, including the SiC power device market. Disruptions in the supply of raw materials and components from the region may lead to increased production costs and supply chain challenges for SiC device manufacturers. Additionally, the fluctuating currency exchange rates and geopolitical tensions may contribute to market volatility and impact investor confidence. On the positive side, the war has highlighted the importance of diversifying and securing the supply chain, leading to potential opportunities for SiC power device manufacturers to explore alternative sourcing strategies and strengthen their resilience against geopolitical risks.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The SiC power device market is experiencing robust growth, driven by several key factors. Firstly, the increasing demand for energy-efficient solutions across various industries has fueled the adoption of SiC devices, as they offer lower switching losses and reduced energy consumption. Additionally, the growing emphasis on renewable energy sources, such as solar and wind power, has created a significant market for SiC power devices in inverters and power converters. Moreover, the automotive sector’s shift towards electric vehicles (EVs) has further accelerated the demand for SiC power devices, as they contribute to improved battery efficiency and overall vehicle performance. Furthermore, the proliferation of electric and hybrid vehicles is expected to sustain the momentum of the SiC power device market in the coming years.

𝐒𝐢𝐂 𝐏𝐨𝐰𝐞𝐫 𝐃𝐞𝐯𝐢𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐚𝐬 𝐅𝐨𝐥𝐥𝐨𝐰𝐬:

By Component
– Schottky Diodes
– FET/MOSFET Transistors
– Integrated Circuits
– Rectifiers/Diodes
– Power Modules
– Others

By Product
– Optoelectronic Devices
– Power Semiconductors
– Frequency Devices

By Wafer Size
– 1 inch to 4 inches
– 6 inches
– 8 inches
– 10 inches & above

By End-user
– Automotive
– Consumer Electronics
– Aerospace & Defense
– Medical Devices
– Data & Communication Devices
– Energy & Power
– Others

Segmented by Region:
– North America
– Europe
– Asia-Pacific
– The Middle East & Africa
– Latin America

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐢𝐧 𝐒𝐢𝐂 𝐏𝐨𝐰𝐞𝐫 𝐃𝐞𝐯𝐢𝐜𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐫𝐞:

– ALLEGRO MICROSYSTEMS INC.
– Infineon Technologies AG
– ROHM Co. Ltd.
– STMicroelectronics N.V.
– ON SEMICONDUCTOR CORPORATION
– WOLFSPEED INC.
– Gene Sic Semiconductor
– TT Electronics plc.
– Mitsubishi Electric Corporation
– Powerex Inc.
– Toshiba Corporation.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬 @ https://www.snsinsider.com/reports/sic-power-device-market-3340

𝐊𝐞𝐲 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭

The regional dynamics of the SiC power device market vary, reflecting the unique characteristics of each market. In North America, the market is driven by the increasing adoption of electric vehicles, renewable energy initiatives, and government support for clean energy technologies. Europe, on the other hand, is witnessing a surge in demand for SiC power devices due to strict environmental regulations and a focus on sustainability. In the Asia-Pacific region, the rapid industrialization and the growing automotive sector, particularly in countries like China and Japan, are contributing to the market’s expansion. The Middle East and Africa region, while relatively nascent, is showing potential for SiC power devices in applications such as power electronics and renewable energy.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲 𝐟𝐫𝐨𝐦 𝐒𝐢𝐂 𝐏𝐨𝐰𝐞𝐫 𝐃𝐞𝐯𝐢𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

– Within the SiC power device market, the Schottky diodes segment stands out as a dominant force. The inherent advantages of Schottky diodes, such as low forward voltage drop and fast switching speed, make them ideal for various applications, including power factor correction and freewheeling diodes in power inverters. As industries increasingly prioritize efficiency and compact design, the demand for Schottky diodes is expected to soar.

– In the automotive sector, SiC power devices are poised to dominate, driven by the electrification trend. Electric vehicles rely on SiC devices for their power electronics, offering advantages in terms of efficiency, reduced charging times, and extended battery life.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐭𝐨 𝐒𝐢𝐂 𝐏𝐨𝐰𝐞𝐫 𝐃𝐞𝐯𝐢𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

– ROHM and Toshiba have recently announced a strategic collaboration aimed at advancing the manufacturing of power devices. The two renowned companies have joined forces to leverage their respective strengths and expertise in the production of Silicon Carbide (SiC) power devices, signaling a concerted effort to enhance the efficiency and capabilities of these critical components.

– Mitsubishi Electric and Nexperia have announced a collaborative partnership focused on the joint development of Silicon Carbide (SiC) power semiconductors. This collaboration marks a significant step forward in advancing technology for power electronics and is poised to address the growing demand for efficient and high-performance solutions in various industries.

𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 – 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐨𝐢𝐧𝐭𝐬

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. SiC Power Device Market Segmentation, By Component
8.1 Schottky Diodes
8.2 FET/MOSFET Transistors
8.3 Integrated Circuits
8.4 Rectifiers/Diodes
8.5 Power Modules
8.6 Others

9. SiC Power Device Market Segmentation, By Product
9.1 Optoelectronic Devices
9.2 Power Semiconductors
9.3 Frequency Devices

10. SiC Power Device Market Segmentation, By Wafer Size
10.1 1 inch to 4 inches
10.2 6 inches
10.3 8 inches
10.4 10 inches & above

11. SiC Power Device Market Segmentation, By End-user
11.1 Automotive
11.1.1 Electric Vehicles
11.1.2 IC Automobiles
11.2 Consumer Electronics
11.3 Aerospace & Defense
11.4 Medical Devices
11.5 Data & Communication Devices
11.6 Energy & Power
11.6.1 EV Infrastructure
11.6.2 Power Distribution & Utilities

Continued….

𝐁𝐮𝐲 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞 @ https://www.snsinsider.com/checkout/3340

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