Chicago, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Silicon Carbide Market by Device (SiC Discrete, SiC Bare Die, and SiC Module), Wafer Size, Application, Vertical (Power Electronics, Automotive, Telecommunications, and Energy & Power), and Geography", Silicon Carbide Market is projected to reach USD 46.3 billion by 2026 from USD 1.1 Billion in 2022 at a CAGR of 4.4% during the forecast period. It was observed that the growth rate was 22.8% from 2021 to 2022 .
SiC bare die segment is expected to witness highest CAGR of 28.4%
Silicon carbide (SiC) is a wide bandgap semiconductor, which is used in various applications, such as LEDs, automotive, and power electronics. SiC bare die is a single-crystal SiC wafer which is available in various sizes, ranging from 2-6 inch. It is mainly used for the fabrication of high-power and high-temperature electronics. SiC bare die offers various advantages such as high thermal conductivity, high breakdown field, and low leakage current, which makes it suitable for high-power applications. It is also capable of operating at high temperatures, and can be used for high-frequency applications.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=439
Silicon Carbide Market Report Scope:
| Report Metric | Details |
| Market Growth Rate | CAGR of 18.7% |
| Expected to Reach | USD 2.1 Billion by 2026 |
| Projected Value | USD 1.1 Billion in 2022 |
| Largest Share Region | APAC |
| Market Growth Rate 2021 To 2022 | CAGR of 22.8% |
| Base year | 2021 |
| Forecast period | 2021–2026 |
| Forecast Unit | Value (USD Million) |
| Segments covered | Device Type, Wafer Size, Application, Vertical, and Region |
| Geographic regions covered | North America, APAC, Europe, and RoW |
| Companies covered |
|
This report categorizes the Silicon Carbide Market based on offering, deployment, application, vertical and region
“Browse in-depth TOC on " Silicon Carbide Market Growth Drivers"
144 – Tables
53 – Figures
243 – Pages
Top 2 players in silicon carbide market:
Infineon Technologies (Germany) is the leading manufacturer of semiconductor and microelectronics solutions in the global silicon carbide market. The company primarily focuses on organic growth strategies, including product launches and expansions. In addition, it also focuses on inorganic growth strategies, such as acquisitions and partnerships, to increase its product offerings and penetrate new application areas.
For instance, in April 2020, Infineon Technologies AG acquired Cypress Semiconductor Corporation (US) to strengthen its power semiconductors, automotive microcontrollers, sensors, and security solutions offerings by focusing on high-growth applications such as advanced driver-assistance systems (ADAS), IoT, and 5G mobile infrastructures. With this, the company has become one of the global top 10 semiconductor companies. Further, the company offers a variety of SiC products for major application areas such as photovoltaic systems, industrial power supplies, and charging infrastructure for electric vehicles.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=227703024
Cree, Inc. (US) is one of the leading manufacturers of wide bandgap semiconductor products for power and radiofrequency (RF) applications and lighting-class light-emitting diode (LED) products. It is involved in designing, developing, and providing semiconductor products based on SiC and GaN technologies. The company mainly focuses on adopting inorganic growth strategies such as partnerships and agreements to strengthen its position in the SiC market.
Silicon Carbide Market Dynamics:
Driver: Growing Demand for SiC Devices in power electronics
Power electronics play a crucial role in the global electrical infrastructure. In the power electronics industry, numerous power devices are available, which convert alternating current to direct current (or vice versa) in the systems.
Also, they are designed to minimize energy loss and increase the efficiency of the system. SiC devices such as Sic diodes and modules are compound semiconductors composed of silicon and carbide. They offer several advantages such as wide bandgap, high drift velocity, high breakdown voltage, large critical electric field, and high thermal conductivity, and are capable of working at higher current density and temperatures.
Restraint: High Material and Fabrication Costs of SiC
As SiC materials are commercially synthesized in high-temperature environments, they are more expensive than Si raw material, while Si can be easily extracted from silica that occurs naturally.
During device fabrication, several factors play a role in making it costlier for foundries and fabs, such as the lesser number of foundry and fab facilities. Moreover, the final phases such as assembly, testing, and packaging, are costlier due to the lack of advanced technology-based suitable equipment.
Opportunity: Increasing demand for hybrid and electric cars
Hybrid and electric vehicles are gaining traction as they are more digitally connected than conventional vehicles. Also, they reduce the consumption of fossil fuels, such as petrol and diesel, reduce global warming and ecological damage, and offer superior fuel efficiency.
Additionally, due to COVID-19, the automotive industry has been witnessing a slowdown in demand for hybrid, electric, and autonomous vehicles. However, their demand is likely to be higher than that of any other vehicle type in the post-COVID-19 period.
Challenge: Material defects, design complexities, and packaging issues in SiC power devices
In SiC materials, especially crystals, micro-sized holes known as micropipes are found across the crystals. During the manufacturing of larger wafers, SiC devices are susceptible to various defects such as dislocations, prototype inclusions, and stacking faults.
These defects occur due to a non-optimal balance of silicon and carbon precursors, and local instability in pressure or temperature. These defects affect the device efficiency and degrade their electrical characteristics.
Related Reports:
The Gallium Nitride Semiconductor Device Market Device Type (RF, Power, Opto), Wafer Size, Application, Vertical (Consumer and Enterprises, Automotive, Telecommunications), and Geography
