Silicon Carbide Semiconductor Market By Product Type (SiC Power Devices, SiC Power Modules, SiC Power Discrete Devices), Application (Automotive, Aerospace, Aerospace, and Defense), Wafer Size (2-inch, 4-inch, 6-inch and Above), & Region for 2024-2031

Silicon Carbide Semiconductor Market Valuation – 2024-2031

SiC has a lower ON resistance than silicon, which reduces energy loss during operation and improves overall efficiency. SiC’s high breakdown field compared to silicon enables the blocking voltage region of a power device to be approximately 10 times thinner and 10 times more heavily doped. This configuration permits a roughly 100-fold reduction in the resistance of the blocking region at the same voltage rating, leading to enhanced performance and efficiency. Thus, SiC Semiconductor increases the overall efficiency which is driving the market size to surpass USD 802.93 Million in 2024 to reach USD 3614.24 Million by 2031.

SiC devices are capable of handling greater voltage applications than their typical silicon counterparts. This feature broadens the scope of potential applications and increases design freedom for power electronics. Thus, the SiC semiconductor can handle the higher voltage operation enabling the market to grow at a CAGR of 15.90% from 2024 to 2031.

Silicon Carbide Semiconductor MarketDefinition/ Overview

Silicon Carbide (SiC) semiconductors are electronic devices that use silicon carbide as a semiconductor material. SiC semiconductors are employed in a variety of applications, particularly power electronics, because of their distinct features and advantages over standard silicon-based semiconductors.

Silicon carbide (SiC), a compound semiconductor formed up of silicon (Si) and carbon (C), belongs to the wide bandgap (WBG) class of materials. Its strong physical bonding gives the semiconductor superior mechanical, chemical, and thermal stability. SiC devices, with their broad bandgap and improved thermal durability, can function at junction temperatures higher than silicon, even above 200°C.

The fundamental advantage of silicon carbide in power applications is its low drift region resistance, which is critical for high-voltage power devices. Silicon carbide-based semiconductors have higher thermal conductivity, increased electron mobility, and lower power losses. SiC diodes and transistors can operate at high frequencies and temperatures while maintaining dependability.

SiC semiconductors have enormous potential for revolutionizing power electronics and contributing to a more sustainable future. Continuous improvements in material science, integration techniques, and an increasing emphasis on energy efficiency will pave the road for SiC to become a foundational component of future technology.

How the Increasing Adoption of Silicon Carbide in Electronics, Automotive, and Renewable Energy Industries are Accelerating the Growth of Silicon Carbide Semiconductor Market?

The increasing adoption of silicon carbide semiconductors in electronics, automotive, and renewable energy industries is thanks to their effective handling of high temperatures and voltages. Silicon carbide semiconductors perform better in high-power applications. The wide bandgap energy and low intrinsic carrier concentration of SiC enable it to exhibit semiconductor behavior at significantly higher temperatures than silicon. Consequently, SiC semiconductor devices can function effectively at much elevated temperatures compared to silicon-based counterparts.

The capability to integrate uncooled high-temperature semiconductor electronics directly into hot environments offers significant advantages for industries such as automotive, aerospace, and deep-well drilling. SiC’s high breakdown field and thermal conductivity, combined with its ability to operate at high junction temperatures, theoretically allow SiC devices to achieve extremely high power densities and efficiencies.

SiC high-power solid-state switches have the potential to significantly improve efficiency in electric power management and control. Leveraging SiC electronics could enable the public power system to fulfill increased consumer electricity demand without the need for additional generation plants. Furthermore, it could improve power quality and operational reliability by implementing “smart” power management systems.

The SiC increases operational reliability, lowers maintenance costs, and enhances fuel efficiency, which is escalating the growth of the SiC aviation, and electronics industry. The uncooled operation of high-temperature, high-power SiC devices has the potential to enable breakthrough advances in aircraft systems. Jet aircraft save significant weight by replacing hydraulic controls and auxiliary power units with distributed smart electromechanical controls that can survive harsh environmental conditions. This change could result in lower maintenance requirements, less emissions, better fuel efficiency, and increased operational reliability.

In addition, government laws intended to reduce greenhouse gas emissions and environmental concerns are driving the global shift toward electric automobiles. SiC semiconductor demand is driven by the electric vehicle (EV) industry’s need for faster charging, greater driving range, and superior overall performance, all made possible by SiC-based power electronics. To encourage the use of electric vehicles, renewable energy sources, and energy-efficient technology, governments and regulatory organizations around the world are providing incentives and subsidies. These activities lower entry barriers and boost demand, which fosters an atmosphere that is conducive to the expansion of the SiC semiconductor industry.

How the High Cost of SiC is Hampering the Growth of the Silicon Carbide Semiconductor Market?

Sure, here is a more human-like way of saying that while keeping the meaning intactSiC semiconductors can be more expensive than silicon-based ones. This can be a barrier for some users, especially those who are trying to save money. SiC-based systems also need expensive components, such as power modules and devices. SiC wafers and devices are also not as widely available as silicon-based ones. This can lead to longer lead times and delays in product development and deployment. Making SiC wafers and devices is also more complicated and resource-intensive than making silicon-based semiconductors. This can also lead to higher manufacturing costs and problems with ensuring consistent product quality, especially when producing large quantities. I hope this is more helpful! Let me know if you have any other questions.

Integrating SiC-based components into existing systems and infrastructure, particularly in industries dominated by silicon-based technologies, may provide compatibility issues. Additional engineering work and financing are frequently required to handle the peculiar electrical and thermal properties of SiC semiconductors, which may hinder adoption rates. The global SiC semiconductor industry is marked by the existence of several manufacturers and suppliers, resulting in market fragmentation and fierce competition. This competitive landscape may put pressure on prices and profit margins, especially for companies that lack strong technological advantages or distinguishing features.

SiC semiconductor manufacturers may face difficulties in complying with industry standards and regulatory restrictions, especially in safety-critical applications such as automotive and aircraft. Meeting onerous certification criteria may result in greater costs and lead times, reducing SiC-based systems’ market competitiveness. Despite exceeding silicon-based rivals in many aspects, potential purchasers continue to be concerned about SiC semiconductor lifetime and long-term reliability. Achieving widespread adoption requires developing trust in the dependability and longevity of SiC devices through rigorous testing and validation procedures.

Category-Wise Acumens

How the E-mobility, Diverse Industrial Applications are Driving the SiC Power Modules Segment in the Silicon Carbide Semiconductor?

The SiC Power Modules segment dominates the Silicon Carbide Semiconductor market, owing to their diverse applications in energy, e-mobility, and industrial sectors. These modules function as efficient power conversion switches, increasing power efficiency and lowering operational costs. Also, the combination of silicon carbide power modules with Schottky Barrier Diodes and Metal-Oxide-Semiconductor Field-Effect Transistors (MOSFETs) results in much-reduced switching losses than silicon-based alternatives. This advantage is likely to fuel significant growth in the market during the projection period.

The increased popularity of silicon carbide power modules is also pushing enterprises to launch new products, accelerating category growth. For example, ON SEMICONDUCTOR CORPORATION (ON Semi) has developed the APM32 power module series designed for high voltage DC-DC conversion in electric vehicles, exemplifying the segment is trending towards innovation and expansion. In addition, SiC power modules enhance the conversion efficiency, it enables a significant decrease in switching losses compared to Si-IGBT and SI-FRD.

SiC modules simplify thermal management by allowing for smaller and less expensive heat sinks or cooling systems. They can even replace water or forced air cooling with natural cooling methods. The increased switching frequency of SiC modules allows for the downsizing of passive components such as inductors and capacitors.  Moreover, SiC modules using majority carrier devices exhibit minimal changes in switching losses with temperature variations. Although the threshold voltage decreases at higher temperatures, SiC power modules tend to have lower Eon and slightly higher Eoff as the operating temperature increases.

Additionally, SiC modules can replace IGBT modules with higher-rated currents, as they offer negligibly small switching losses and support high switching speeds while handling high currents. However, it’s important to note that surge voltage (V=-L×dI/dt) generated due to wire inductance in the module or its periphery may exceed the rated voltage, requiring careful consideration during design and implementation.

How the Cost Reduction for Production is Surging the Growth of the I-inch and 4-inch Segment in the Silicon Carbide Semiconductor Market?

The 1-inch to 4-inch segment is significantly dominating in the Silicon Carbide Semiconductor Market, owing to the tool contributing to the reduction of device production. By employing Chemical Vapor Deposition (CVD), SiC epi wafers exhibit fewer surface defects, leading to an improvement in yield. This size range includes N-type and P-type wafers with a thickness of 350 ± 25 micrometers.

Silicon carbide wafers with P-type substrates are preferred for the production of power devices such as Insulated Gate Bipolar Transistors. In contrast, N-type substrates are treated with nitrogen to improve conductivity in power devices. These versions provide not only superior mechanical qualities but also compatibility with current device production procedures.

Furthermore, the mass production viability of 1 to 4-inch silicon carbide wafers makes them affordable, with industrial applications driving demand. Their capacity to reduce equipment size enhances their appeal, positioning them for increased use over the predicted period.

How the Increasing Adoption of Commercial-Scale Silicon Carbide Wafer Fabrication is Driving the Growth of the 10-inch Segment in the Silicon Carbide Semiconductor Market?

The 10-inch segment is expected to experience fastest fastest-growing segment during the forecast period, owing to the emergence of commercial-scale silicon carbide wafer fabrication.  These wafers make it easier to manufacture Gallium Nitride (GaN) devices, such as power supplies and light emitting diodes.

Furthermore, the use of silicon carbide coating slows the diffusion of silicon into GaN, at a cost of only USD 25.0 to USD 35.0 per silicon wafer. In comparison to ordinary silicon, silicon carbide wafers are expected to provide greater cost-effectiveness and power efficiency, propelling the segment’s growth during the forecast period.

Gain Access to Silicon Carbide Semiconductor Market Report Methodology

Country/Region-wise Acumens

How the Increasing Investment in Manufacturing Activities are Surging the Growth of the Silicon Carbide Semiconductor Market in Asia Pacific?

Silicon Carbide Semiconductors are booming in Asia Pacific, and it's not slowing down anytime soon. That's because big companies in the region are all over this technology. And it's not just talk - investments in building and making silicon carbide semiconductors are pouring in. Plus, the car industry is growing like crazy in Asia Pacific, and that's another reason why silicon carbide semiconductors are in high demand. Take India, for example. They want to double the size of their car industry by 2024. That's a lot of cars! And they're not just buying any old cars - they're looking for cars that use silicon carbide semiconductors. So, it's no wonder that Asia Pacific is leading the pack when it comes to Silicon Carbide Semiconductors. With all the investment and growth happening, it's clear that this market is only going to get bigger.

Over the last two decades, India has received a whopping $35.40 billion in foreign investment in its automobile industry. And get thisby 2030, India is zooming toward becoming the biggest market for electric vehicles (EVs) in the world. It's expected to attract over $200 billion in investment over the next 8 to 10 years. This massive investment shows how much India is dedicated to building up its EV sector. China's car industry has also taken off, making it a major force in the global market. The Chinese government sees the value of the auto industry, especially making car parts, and it's one of the pillars of their economy. This shows that the government is serious about helping the Chinese car industry grow and thrive.

The region is a buzzing electronics powerhouse, churning out tons of electronic gadgets every year. These gadgets are not just for locals; they're shipped all over the world, boosting the region's share of the electronics pie. Just look at China. In 2023, they made over a billion mobile phones from January to September. That's a small jump from the year before, but in September alone, they cranked out 11.8% more phones than they did the year before. And it's not just phones. The Asia Pacific region is also a big market for SiC semiconductors, which are super efficient, tiny, and lightweight gadgets used in all sorts of things. This demand is like rocket fuel for the region's electronics industry.

How the Presence of Major Players in the Region are Contributing to the Growth of the North America Silicon Carbide Semiconductor Market During the Forecast Period?

North America is anticipated to be the fastest-growing region during the forecast period in the silicon carbide semiconductor market. Key players such as Gene Sic Semiconductor and ON SEMICONDUCTOR CORPORATION (ON Semi) have a substantial presence and concentration. These enterprises have large customer bases, which are key drivers of market expansion in the region. In addition, the concentration of major players in North America promotes the adoption of novel SiC semiconductor devices by power electronics makers. These devices provide increased efficiency, leading to a move toward their use in a variety of applications.

Furthermore, key regional firms are aggressively exploring strategic efforts to drive growth in the North American marketplace. These activities may involve investments in R&D, strategic collaborations, or capacity growth, all to accelerate innovation and market penetration. As a result, North America is anticipated to emerge as in the future years, the SiC semiconductor market will see significant expansion.

Competitive Landscape

The silicon carbide semiconductor market is likely to witness continued growth and consolidation. Established players are expected to maintain their dominance, while new entrants with disruptive technologies could emerge. Collaboration and strategic partnerships will play a key role in accelerating advancements and driving market expansion. As SiC costs decrease and its performance advantages become more evident, it will likely become a ubiquitous component in next-generation power electronics, shaping the future of various industries.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the silicon carbide semiconductor market include

• Wolfspeed
• Infineon Technologies
• ROHM Semiconductor
• ON Semiconductor
• STMicroelectronics
• Mitsubishi Electric
• GeneSiC Semiconductor
• TT Electronics
• Vishay Intertechnology

Silicon Carbide Semiconductor Latest Developments

• In August 2021, ON Semiconductor Corporation (on semi) announced an acquisition deal with GT Advance Technologies Inc., a well-known maker of SiC and sapphire materials. This strategic decision is expected to strengthen ON Semi’s SiC supply capabilities, allowing the company to meet increasing customer demand for SiC-based products.
• Toshiba Electronic Components and Storage Co., Ltd. announced a JPY 100 billion (USD 839 million) investment in March 2022 to enhance its power component capacity.

Report Scope

Silicon Carbide Semiconductor Market, By Category

Product Type

• SiC Power Devices
• SiC Power Modules
• SiC Power Discrete Devices
• SiC Bare Die Devices

Application

• Automotive
• Aerospace
• Aerospace and Defense
• Consumer Electronics
• Industrial
• Power Electronics

Wafer Size

• 1 inch to 4 inch
• 6 inches
• 8 inches
• 10 inches above

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation i