REPORT SCOPE & OVERVIEW:
The SiC Device market size was valued at USD 1.55 Billion in 2022 and is expected to grow to USD 8.6 Billion by 2030 and grow at a CAGR Of 23.9% over the forecast period of 2023-2030.
SiC semiconductor devices have a wide range of uses in motor control systems, inverters, power supplies, and converters. SiC semiconductor devices are well adapted to meet the rising need for sustainability and electrification because of their material characteristics, which is fuelling the market's expansion.
When it comes to functioning at greater temperatures, voltages, and frequencies, silicon is said to have reached its limits. Devices made of silicon carbide offer higher temperature, voltage, and frequency thresholds than silicon-based ones. The advancements in materials like gallium nitride and silicon carbide have drawn more attention over time.
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MARKET DYNAMICS
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
As a semiconductor material, SiC has many advantageous characteristics. Silicon carbide (SiC) devices have various benefits in applications including inverters, motor drives, and battery chargers, including higher power density, less cooling needs, and decreased total system cost.
RESTRAIN:
High Cost
OPPORTUNITY:
Focusing on solar power system
SiC uses for developing sustainable energy
Sic Manufacturers' Strategic Partnership and Acquisition,
This collaboration significantly boosts the development of the global SiC power semiconductor market.
CHALLENGES:
Innovations in Sic Semiconductor
The availability of replacement materials like gallium nitride
Manufacturing-Related SiC wafers issue
The semiconductor material known as ASIC wafer offers superior electrical and thermal properties. It has a very high level of hardness in addition to having a good thermal resistance. The manufacturing of SiC wafers has numerous fabrication challenges.
IMPACT OF RUSSIAN UKRAINE WAR
It's possible that the semiconductor shortfall, which was anticipated to lessen by mid-2022, will worsen. Russia attacking Ukraine will put further burden on the industry globally because both Russia and Ukraine are suppliers of components needed in semiconductor manufacture. There are concerns that this could lead to manufacturing constraints that would cause supply shortages and semiconductor price increases.
Ukraine is a prominent supplier and source of raw materials, such as the semiconductor-grade neon used in the production of semiconductors. Russia is also a significant supplier of the palladium used in numerous memory and sensor chips. In actuality, it makes up 45% of the world's supply.
IMPACT OF ONGOING RECESSION
The semiconductor industry, which is still recovering from the recession, is nevertheless feeling its effects. Smaller firms have struggled due to a lack of resources, but many larger enterprises have been able to weather the storm. As a result, some companies have shifted their focus from traditional semiconductor products to more modern ones like MEMS (Micro-Electro-Mechanical Systems) and 3D printing. The semiconductor industry has been severely impacted by the most recent economic slump. Many enterprises were compelled to carry out significant layoffs, and others were even compelled to close down entirely.
KEY MARKET SEGMENTS:
By Product
Optoelectronic Devices
Frequency Devices
By Component
Schottky Diodes
FET/MOSFET Transistors
Integrated Circuits
Rectifiers/Diodes
Power Modules
Others
By Wafer Size
1 inch to 4 inches
6 inches
8 inches
10 inches & above
By End-use
Automotive
Electric Vehicles
IC Automobiles
Consumer Electronics
Aerospace & Defense
Medical Devices
Data & Communication Devices
Energy & Power
EV Infrastructure
Power Distribution & Utilities
Others
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REGIONAL ANALYSIS
In 2022, Asia Pacific held the largest market share (44.23%). The region will hold the top market position in 2022 as a result of the increased deployment of SiC power devices in the consumer electronics, automotive, and medical industries.
The market for SiC power devices is anticipated to grow as a result of the presence of numerous power device manufacturers, particularly in Asia. As a high number of discrete devices are imported from nations in the area, the significant demand for SiC power devices in North America and Europe is anticipated to boost market value in the Asia Pacific.
The North American market is Significant growth anticipated. Due to the increased need for next-generation power semiconductor devices, the market in the region is being pushed by an increase in R&D in these devices.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
KEY PLAYERS:
The Major Players are Coherent Corp., Fuji Electric Co., Ltd, Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, ON Semiconductor Corp, Renesas Electronics Corporation, ROHM Co. Ltd, Toshiba Electronic Devices & Storage Corporation, WOLFSPEED, INC., Other Key Players.
Microchip Technology Inc-Company Financial Analysis
RECENT DEVELOPMENT
To expand the manufacture of silicon carbide (SiC) power semiconductors, Mitsubishi Electric Corporation said in March 2023 that it would quadruple its investment, to USD 2 billion, for the construction of a new wafer facility in the Shisui region of Kumamoto Prefecture. The 8-inch SiC wafer plant will be produced at this new facility.
In order to provide next-generation mobility, WOLFSPEED, INC. teamed with ZF, a leading global technology business, in February 2023. Through this collaboration, Silicon Carbide systems and devices will be developed for use in energy, industrial, and transportation applications. Additionally, a state-of-the-art and sizable 200mm Silicon Carbide device fab is being built in Ensdorf, Germany.
WOLFSPEED, INC. introduced the Gen 3+ 750 V bare-die MOSFET in January 2023. The layout of this product is 5mm x smm180 mm in height. To reduce switching losses and maximize current rise time, it has a low internal gate resistance Rg. Significantly, the new device has a high maximum junction temperature (TJ) and a low on-state resistance (RDS(ON)).
In December 2022. With a top manufacturer of power devices, WOLFSPEED, INC. extended its multi-year, long-term contract for the supply of silicon carbide wafers. With this deal, Wolfspeed will support the business's goal of an industry-wide switch from silicon to Silicon Carbide semiconductor power devices by providing 150 mm Silicon Carbide pare and epitaxial wafers.
| Report Attributes | Details |
| Market Size in 2022 | US$ 1.55 Bn |
| Market Size by 2030 | US$ 8.6 Bn |
| CAGR | CAGR of 23.9 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Optoelectronic Devices, Power Semiconductors, Frequency Devices) • By Component (Schottky Diodes, FET/MOSFET Transistors, Integrated Circuits, Rectifiers/Diodes, Power Modules, Others) • By Wafer Size (1 inch to 4 inches, 6 inches, 8 inches, 10 inches & above) • By End-use (Automotive, Consumer Electronics, Aerospace & Defense, Medical Devices, Data & Communication Devices, Energy & Power, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Coherent Corp., Fuji Electric Co., Ltd, Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, ON Semiconductor Corp, Renesas Electronics Corporation, ROHM Co. Ltd, Toshiba Electronic Devices & Storage Corporation, WOLFSPEED, INC., Other Key Players |
| Key Drivers | • Rise in demand for SiC power devices in the automotive industry • Benefits of silicon carbide versus silicon |
| Market Opportunities | • Focusing on solar power system • SiC uses for developing sustainable energy |
Ans: Increase efficiency while minimizing the cost and complexity of the construction. And SiC power devices have design and packaging flaws in addition to material faults.
Ans: Asia Pacific held the largest market.
Ans: The SiC device market size was valued at USD 2.18 Billion.
Ans: The SiC Device Market size is to reach USD 13.41 Billion by 2030.
Ans: The market for SiC device market is anticipated to expand by 25.5% from 2023 to 2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. SiC device market segmentation, By Product
8.1 Optoelectronic Devices
8.2 Power Semiconductors
8.3 Frequency Devices
9. SiC device market segmentation, By Component
9.1 Schottky Diodes
9.2 FET/MOSFET Transistors
9.3 Integrated Circuits
9.4 Rectifiers/Diodes
9.5 Power Modules
9.6 Others
10. SiC device market segmentation, By Wafer Size
10.11 inch to 4 inches
10.26 inches
10.3 8 inches
10.410 inches & above
11. SiC device market segmentation, By End-use
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
11.7 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America SiC Device Market by Country
12.2.2North America SiC Device Market by Product
12.2.3 North America SiC Device Market by Component
12.2.4 North America SiC Device Market by Wafer Size
12.2.5 North America SiC Device Market by End-Use
12.2.6 USA
12.2.6.1 USA SiC Device Market by Product
12.2.6.2 USA SiC Device Market by Component
12.2.6.3 USA SiC Device Market by Wafer Size
12.2.6.4 USA SiC Device Market by End-Use
12.2.7 Canada
12.2.7.1 Canada SiC Device Market by Product
12.2.7.2 Canada SiC Device Market by Component
12.2.7.3 Canada SiC Device Market by Wafer Size
12.2.7.4 Canada SiC Device Market by End-Use
12.2.8 Mexico
12.2.8.1 Mexico SiC Device Market by Product
12.2.8.2 Mexico SiC Device Market by Component
12.2.8.3 Mexico SiC Device Market by Wafer Size
12.2.8.4 Mexico SiC Device Market by End-Use
12.3 Europe
12.3.1 Europe SiC Device Market by Country
12.3.2 Europe SiC Device Market by Product
12.3.3 Europe SiC Device Market by Component
12.3.4 Europe SiC Device Market by Wafer Size
12.3.5 Europe SiC Device Market by End-Use
12.3.6 Germany
12.3.6.1 Germany SiC Device Market by Product
12.3.6.2 Germany SiC Device Market by Component
12.3.6.3 Germany SiC Device Market by Wafer Size
12.3.6.4 Germany SiC Device Market by End-Use
12.3.7 UK
12.3.7.1 UK SiC Device Market by Product
12.3.7.2 UK SiC Device Market by Component
12.3.7.3 UK SiC Device Market by Wafer Size
12.3.7.4 UK SiC Device Market by End-Use
12.3.8 France
12.3.8.1 France SiC Device Market by Product
12.3.8.2 France SiC Device Market by Component
12.3.8.3 France SiC Device Market by Wafer Size
12.3.8.4 France SiC Device Market by End-Use
12.3.9 Italy
12.3.9.1 Italy SiC Device Market by Product
12.3.9.2 Italy SiC Device Market by Component
12.3.9.3 Italy SiC Device Market by Wafer Size
12.3.9.4 Italy SiC Device Market by End-Use
12.3.10 Spain
12.3.10.1 Spain SiC Device Market by Product
12.3.10.2 Spain SiC Device Market by Component
12.3.10.3 Spain SiC Device Market by Wafer Size
12.3.10.4 Spain SiC Device Market by End-Use
12.3.11 The Netherlands
12.3.11.1 Netherlands SiC Device Market by Product
12.3.11.2 Netherlands SiC Device Market by Component
12.3.11.3 Netherlands SiC Device Market by Wafer Size
12.3.11.4 Netherlands SiC Device Market by End-Use
12.3.12 Rest of Europe
12.3.12.1 Rest of Europe SiC Device Market by Product
12.3.12.2 Rest of Europe SiC Device Market by Component
12.3.12.3 Rest of Europe SiC Device Market by Wafer Size
12.3.12.4 Rest of Europe SiC Device Market by End-Use
12.4 Asia-Pacific
12.4.1 Asia Pacific SiC Device Market by Country
12.4.2 Asia Pacific SiC Device Market by Product
12.4.3 Asia Pacific SiC Device Market by Component
12.4.4Asia Pacific SiC Device Market by Wafer Size
12.4.5Asia Pacific SiC Device Market by End-Use
12.4.6 Japan
12.4.6.1 Japan SiC Device Market by Product
12.4.6.2 Japan SiC Device Market by Component
12.4.6.3 Japan SiC Device Market by Wafer Size
12.4.6.4 Japan SiC Device Market by End-Use
12.4.7 South Korea
12.4.7.1 South Korea SiC Device Market by Product
12.4.7.2 South Korea SiC Device Market by Component
12.4.7.3 South Korea SiC Device Market by Wafer Size
12.4.7.4 South Korea SiC Device Market by End-Use
12.4.8 China
12.4.8.1 China SiC Device Market by Product
12.4.8.2 China SiC Device Market by Component
12.4.8.3 China SiC Device Market by Wafer Size
12.4.8.4 China SiC Device Market by End-Use
12.4.9 India
12.4.9.1 India SiC Device Market by Product
12.4.9.2 India SiC Device Market by Component
12.4.9.3 India SiC Device Market by Wafer Size
12.4.9.4 India SiC Device Market by End-Use
12.4.11 Australia
12.4.10.1 Australia SiC Device Market by Product
12.4.10.2 Australia SiC Device Market by Component
12.4.10.3 Australia SiC Device Market by Wafer Size
12.4.10.4 Australia SiC Device Market by End-Use
12.4.11 Rest of Asia-Pacific
12.4.11.1 APAC SiC Device Market by Product
12.4.11.2 APAC SiC Device Market by Component
12.4.11.3 APAC SiC Device Market by Wafer Size
12.4.11.4 APAC SiC Device Market by End-Use
12.5 The Middle East & Africa
12.5.1 The Middle East & Africa SiC Device Market by Country
12.5.2 The Middle East & Africa SiC Device Market by Product
12.5.3 The Middle East & Africa SiC Device Market by Component
12.5.4The Middle East & Africa SiC Device Market by Wafer Size
12.5.5 The Middle East & Africa SiC Device Market by End-Use
12.5.6 Israel
12.5.6.1 Israel SiC Device Market by Product
12.5.6.2 Israel SiC Device Market by Component
12.5.6.3 Israel SiC Device Market by Wafer Size
12.5.6.4 Israel SiC Device Market by End-Use
12.5.7 UAE
12.5.7.1 UAE SiC Device Market by Product
12.5.7.2 UAE SiC Device Market by Component
12.5.7.3 UAE SiC Device Market by Wafer Size
12.5.7.4 UAE SiC Device Market by End-Use
12.5.8South Africa
12.5.8.1 South Africa SiC Device Market by Product
12.5.8.2 South Africa SiC Device Market by Component
12.5.8.3 South Africa SiC Device Market by Wafer Size
12.5.8.4 South Africa SiC Device Market by End-Use
12.5.9 Rest of Middle East & Africa
12.5.9.1 Rest of Middle East & Asia SiC Device Market by Product
12.5.9.2 Rest of Middle East & Asia SiC Device Market by Component
12.5.9.3 Rest of Middle East & Asia SiC Device Market by Wafer Size
12.5.9.4 Rest of Middle East & Asia SiC Device Market by End-Use
12.6 Latin America
12.6.1 Latin America SiC Device Market by Country
12.6.2 Latin America SiC Device Market by Product
12.6.3 Latin America SiC Device Market by Component
12.6.4 Latin America SiC Device Market by Wafer Size
12.6.5 Latin America SiC Device Market by End-Use
12.6.6 Brazil
12.6.6.1 Brazil SiC Device Market by Product
12.6.6.2 Brazil Africa SiC Device Market by Component
12.6.6.3 Brazil SiC Device Market by Wafer Size
12.6.6.4 Brazil SiC Device Market by End-Use
12.6.7 Argentina
12.6.7.1 Argentina SiC Device Market by Product
12.6.7.2 Argentina SiC Device Market by Component
12.6.7.3 Argentina SiC Device Market by Wafer Size
12.6.7.4 Argentina SiC Device Market by End-Use
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America SiC Device Market by Product
12.6.8.2 Rest of Latin America SiC Device Market by Component
12.6.8.3 Rest of Latin America SiC Device Market by Wafer Size
12.6.8.4 Rest of Latin America SiC Device Market by End-Use
13. Company Profile
13.1 Coherent Corp
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Fuji Electric Co., Ltd
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Infineon Technologies AG,
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Microchip Technology Inc.,
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Mitsubishi Electric Corporation
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 ON SEMICONDUCTOR CORPORATION
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Product/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Renesas Electronics Corporation
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 ROHM Co. Ltd
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Product/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Toshiba Electronic Devices & Storage Corporation
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 WOLFSPEED, INC.
13.10.1 Market Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. USE Cases and Best Practices
16. Conclusion
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