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The silicon carbide (SiC) power semiconductor market has experienced remarkable growth in recent years, and the trajectory indicates continued expansion. This article explores the current state of the market, the factors driving its growth, and key trends shaping its future.

Current Market Overview

• Market Size and Growth:
  • In 2023, the silicon carbide power semiconductor market was valued at $0.99 billion.
  • By 2024, it is projected to reach $1.24 billion, marking a significant growth rate of 26.0% CAGR.
• Historical Drivers:
  • Adoption of SiC power devices in electric vehicle (EV) charging systems.
  • SiC power devices’ ability to operate at higher temperatures.
  • Growth in the consumer electronics industry.
  • Advanced electronic components in power applications.
  • Expansion in the automotive and renewable energy sectors.

Future Growth Projections

• Market Forecast:
  • The market is expected to grow to $3.16 billion by 2028.
  • The forecasted CAGR is 26.3%.
• Forecast Drivers:
  • Increased prevalence of SiC discrete devices.
  • Rising demand for consumer electronics and wireless communications.
  • Growing penetration of electronic vehicles.
  • Higher demand for energy-efficient, battery-powered portable devices.
  • Technological advancements and innovations in SiC power semiconductors.

Rising Electric Vehicle Adoption

• Impact on Market Growth:
  • The adoption of EVs is a key driver for the silicon carbide power semiconductor market.
  • SiC power semiconductors enhance EV performance by improving efficiency, reducing weight, and boosting overall effectiveness.
• Statistical Insight:
  • Sales of new light-duty plug-in EVs and plug-in hybrid electric vehicles (PHEVs) nearly doubled from 308,000 in 2020 to 608,000 in 2021.

Read The Full Silicon Carbide Power Semiconductor Market Report Here:
https://www.thebusinessresearchcompany.com/report/silicon-carbide-power-semiconductor-global-market-report

Major Industry Players

• Leading Companies:
  • Samsung Electronics Co. Ltd.
  • Panasonic Corporation
  • Mitsubishi Electric Corporation
  • Toshiba Corporation
  • Eaton Corporation plc
  • Texas Instruments Inc.
  • STMicroelectronics N.V.
  • Infineon Technologies AG
  • BorgWarner Inc.
  • ROHM Co. Ltd.
  • Littelfuse Inc.
  • Microsemi Corporation
  • Wolfspeed Inc.
  • GeneSiC Semiconductor Inc.

Innovations and Strategic Moves

• Nexperia’s New Launch:
  • In November 2023, Nexperia launched 1200 V SiC MOSFETs designed to enhance high-voltage applications.
  • These devices feature ultra-low switching losses and improved thermal performance, promising robust operation in demanding conditions.
• Qorvo’s Acquisition:
  • In November 2021, Qorvo Inc. acquired UnitedSiC Inc. to strengthen its portfolio with advanced SiC devices.
  • This acquisition aims to enhance Qorvo’s position in the power semiconductor market by leveraging UnitedSiC’s high-performance power management solutions.

Market Segmentation

• By Type:
  • MOSFETs, Hybrid Modules, Schottky Barrier Diodes (SBDs), Insulated Gate Bipolar Transistors (IGBT), Bipolar Junction Transistor (BJT), Pin Diode, Junction FET (JFET), and Other Types.
• By Voltage Range:
  • 301-900 V
  • 901-1700 V
  • Above 1701 V
• By Wafer Type:
  • SiC Epitaxial Wafers
  • Blank SiC Wafers
• By Application:
  • Electric Vehicles (EV)
  • Photovoltaics
  • Power Supplies
  • Industrial Motor Drives
  • EV Charging Infrastructure
  • RF Devices
  • Other Applications
• By End-User:
  • Industrial
  • Automotive
  • Energy and Power
  • Information Technology and Telecom
  • Transportation
  • Aerospace and Defense
  • Other End-Users

Regional Insights

• Asia-Pacific Region:
  • In 2023, Asia-Pacific was the largest market for silicon carbide power semiconductors.
  • It is expected to be the fastest-growing region, driven by increasing industrial activity and demand for advanced semiconductor technologies.

In summary, the silicon carbide power semiconductor market is on a robust growth trajectory, driven by the rise in electric vehicle adoption, technological advancements, and strategic industry moves. As innovations continue and new players enter the market, the industry is poised for continued expansion and evolution.

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The Silicon Carbide Power Semiconductor Global Market Report 2024  provides a comprehensive outlook of the silicon carbide power semiconductor market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The silicon carbide power semiconductor market forecast offers a thorough analysis on silicon carbide power semiconductor market size, silicon carbide power semiconductor market share, prominent players and their strategies.

The Table Of Content For The Silicon Carbide Power Semiconductor Market Include:
1. Silicon Carbide Power Semiconductor Market Executive Summary
2. Silicon Carbide Power Semiconductor Market Segments
3. Silicon Carbide Power Semiconductor Market Size And Silicon Carbide Power Semiconductor Market Growth Rate
4. Key Silicon Carbide Power Semiconductor Market Trends
5. Major Silicon Carbide Power Semiconductor Market Drivers
……
25. Key Mergers And Acquisitions In The Silicon Carbide Power Semiconductor Market
26. Top Silicon Carbide Power Semiconductor Companies
27. Silicon Carbide Power Semiconductor Market Opportunities And Strategies
28. Silicon Carbide Power Semiconductor Market, Conclusions And Recommendations
29. Appendix

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