Silicon Carbide Power Devices Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[176+ Pages Report] According to the report published by Facts Factors, the global silicon carbide power devices market size was valued around USD 1,665 million in 2022 and is expected to grow around USD 5,125 million by 2030 with a compound annual growth rate (CAGR) of approximately 17.42% between 2023 and 2030. The report analyzes the global silicon carbide power devices market drivers, restraints/challenges, and the impact they have on the demands during the forecast period. In addition, the report explores emerging opportunities in the silicon carbide power devices market.

The silicon carbide power devices Market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire silicon carbide power devices market. The historical and past insights are provided for FY 2020 to FY 2022 whereas projected trends are delivered for FY 2023 to FY 2030. The quantitative and numerical data is represented in terms of value (USD Million) from FY 2020 – 2030.

This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the silicon carbide power devices industry. The report analyzes and declares the historical and current trends analysis of the silicon carbide power devices industry and subsequently recommends the projected trends anticipated to be observed in the silicon carbide power devices market during the upcoming years.

Key Insights from Primary Research

• Extensive interviews with C-level professionals of multiple companies operating in the silicon carbide power device market directed towards a sizeable growth of silicon carbide power device market with anticipated CAGR of 17.42% for period ranging from 2023 to 2030.
• Their projection indicates towardslarger market value beyond USD 5,125 Million by 2030. Their insights have been further substantiated with our extensive analysis of silicon carbide power device market conducted by expert research analysts.
• CXOs also believe that theAsia Pacific region will be the brightest spot for expansion of the silicon carbide power device market. TheNorth American region is also poised to witness excellent growth.
• Based on product type submarket, the power silicon carbide are projected to be largest utilized silicon carbide power deviceworldwide. However, primary respondents also projects greater growth potential for discrete SiC over the foreseeable years.
• In view of application, the respondents predicts for substantial increase in consumption of silicon carbide power device in automobile electronics. They also remained extremely positive for increasing usage of silicon carbide power device for aerospace and defense.

Key Recommendations from Analysts

• Our analysts recommend for greater focus in Asia Pacific region owing to enormous potential of the region mainly backed by large economies like China, India, Japan and South Korea.
• Advanced power electronicis an major concern worldwide, however near future growth potential can be witness in major markets like US, China, India and major countries of Europe.
• Securing government contracts will bring in more revenue that will boostthe growth of business.
• Our statistical analysis of future trends direct towards faster growth ofsilicon carbide power deviceduring years between 2023 to 2030 owing to heavy investments in infrastructure development within the Asia Pacific region.
• Our analysts predict the Asia-Pacific region to be the top investment pocket in the global silicon carbide power device market owing to rising penetration of advanced techniques.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the silicon carbide power devices industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the silicon carbide power devices industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the silicon carbide power devices market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the silicon carbide power devices industry. The silicon carbide power devices market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the silicon carbide power devices sector. Key strategic developments in the silicon carbide power devices market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the silicon carbide power devices market are appropriately highlighted in the report.

The electronic properties of silicon carbide semiconductors are higher than those of silicon. We have higher electron speed and electron mobility. A higher energy gap means silicon carbide power semiconductors are less prone to overheating. With reduced noise levels in electronic circuits than silicone devices, silicon carbide contributes to reducing power losses. These have been strengthened the adoption of silicon carbide in power devices.

Additionally, the rising demand for electronics devices propels the growth of SiC's market in power devices. Power electronics ensure efficient and effective electrical power management and conversion. Elevated demand for electronics in various vertical industries like medicine, defense, and aerospace, plays a key role in growing SiC's adoption of power systems.

The silicon carbide power devices market research report delivers an acute valuation and taxonomy of the silicon carbide power devices industry by practically splitting the market on the basis of different power modules, application,s and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2023 to FY 2030

Report Scope

The regional segmentation of the silicon carbide power devices industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the silicon carbide power devices industry is provided for the leading economies of the world.

The silicon carbide power devices market is segmented based on the power module and application.  On the basis of power module segmentation, the market is classified into power and SiC discrete. In terms of application segmentation, the market is bifurcated into IT & telecom, aerospace & defense, industrial, energy & power, and others.

Some of the essential players operating in the silicon carbide power devices market, but not restricted to include

• General Electric
•  Power Integrations
•   Fairchild Semiconductor
•  Toshiba Corporation
•  NXP Semiconductors
•   Microsemi Corporation
•  STMicroelectronics Industries
•  Renesas Electronics Corporation
•  Tokyo Electron Limited

The taxonomy of the silicon carbide power devices industry by its scope and segmentation is as follows:

By Power Module Segmentation Analysis

• Power
• SiC discrete

By Application Segmentation Analysis

• IT & Telecom
• Aerospace & Defense
• Industrial
• Energy & Power
• Others

By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

KEY BUSINESS POINTERS ADDRESSED & FOREMOST REASONS TO PROCURE THE REPORT:

• Statistical Analysis of the Past, Current, and Future Trends of the Industry with Validated Market Sizes Data
• Direct and Indirect Rationales Impacting the Industry
• In-depth and Micro Analysis of Viable Segments and Sub-segments
• Companies and Vendors Market Share, Competitive Landscape, and Player Positioning Analysis
• Demand Side (Consumption) and Supply Side (Production) Perspective and Analysis wherever applicable
• Key Buyers and End-Users Analysis
• Value Chain and Manufacturing Cost Structure Analysis wherever relevant
• Key Marketing Strategies as well as Key Sales Channels adopted in the market
• Investment Opportunity Analysis & Patents Analysis wherever feasible
• Technological Road Map & Technical Analysis
• Robust Research Methodology comprising dynamic mix (65%~35%) of Extensive Primary Research (primary interviews, ad-hoc surveys, questionnaires) and Protracted Secondary Research (proprietary in-house database, paid external databases, publically available validated sources)