Silicon Carbide Market Share, Trends, Global Growth and In-Depth Research Study by 2029

Key companies covered in Silicon Carbide market are Infineon Technologies AG, CREE, INC, ST Microelectronics NV, Fuji Electric Co., Ltd, General Electric and other featured players.

Pune, India, Sept. 22, 2022 (GLOBE NEWSWIRE) — The world silicon carbide market the size is expected to grow in the next few years due to the growing use of polyurethane, says Fortune BusinessInsight™, in his report, titled Silicon Carbide Market, 2022-2029”.

Carborundum or Sic is a semiconductor. It is a rare natural mineral known as missaniate and synthetically it is produced as Sic powder. This material has a diverse range of applications such as, it is used in clutches, car brakes, LEDs, body armor and vests.

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List of Key Players Featured in the Report

• Infineon Technologies SA

• CREE, INC.

• ST Microelectronics SA

• Fuji Electric Co., Ltd.

• General Electric

Impact of COVID-19:

The outbreak of the COVID-19 pandemic has crippled the global economy, affecting industries and businesses in various ways. The silicon carbide market was also negatively impacted. Since it was non-essential things amidst the pandemic, the manufacturing unit of Sic as well as its application decreased. Moreover, few of them have re-equipped to make masks, disinfectants and personal protective equipment (PPE). However, the market is expected to recover over the forecast period.

Report Scope and Segmentation:

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Segmentation

By device, the market is divided into SiC discrete device, SiC bare device and others. By Application, the market is segmented into Power Grid Devices, Flexible AC Transmission System, High Voltage DC System, Power Supplies & Inverters, RF Devices & Cellular Base Station, Lighting Control System, EV Charging Station and others. Finally, in terms of geography, it is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

Salient features of the report:

The report provides insights into the tangible intelligence of trends, drivers, and various other aspects of the market along with the holistic analysis of the factors limiting market growth. It also emphasizes granular assessment of different market segments. And finally, a thorough assessment of the regional outlook and competitive dynamics influencing the market is given in the report.

Drivers and Constraints

Rising Demand for Semiconductors to Drive Market Growth

Rising demand for semiconductors is expected to drive the growth of the silicon carbide market. Moreover, the transition to renewable energy sources is also accelerating the demand for the product. Moreover, Sic is extremely tough and hard compared to silicon, as it is composed of carbon and silicon tetrahedrons. SiC ceramics retain their strength at very high temperatures, approaching 1600°C without loss of strength. These factors make it suitable for use in different industries.

On the other hand, cost-effective alternatives such as gallium nitride are the main constraint in the market.

The objectives of the study for this report are:

• To understand the design of Silicon Carbide market by recognizing its various sub-fragments.

• To study the Silicon Carbide market based on individual manufacturers growth and future trends.

• To study the product overview and scope of Silicon Carbide market segment, sales status and outlook

• To understand upstream and downstream market analysis

• Understand the market competitive situation and trends

• Understand the market drivers, restraints, opportunities, and challenges faced in the Silicon Carbide Market

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Regional outlook

Asia-Pacific in the lead, supported by increased construction activity

Geographically, Asia-Pacific holds the dominant position in silicon carbide market share. This dominance is attributable to its increasing use in electronic components. As China is one of the largest electronics producers in the world. Moreover, government initiatives to promote clean energy are also accelerating the growth of the market.

North America and Europe are also expected to show a large market share in the coming years due to the large base of manufacturers and the use of Sic in the manufacture of hybrid electric vehicles (EVs) which supplies the regional market.

Competitive landscape

Key Players Need to Focus on Launching New Products to Strengthen Market Growth

The global SiC market has many leading companies who are constantly trying to develop unique devices to meet the demand of consumers around the world. They do this by partnering with local or reputable companies, launching new products to bolster their portfolio in the market. Below are the industry developments:

• November 2020: Infineon collaborated with GT Advanced Technology to expand SiC installation unit.

• June 2020: Infineon announced the launch of new SiC powder modules for electric vehicles.

Worldwide silicon carbide market Scope:

The report offers a detailed overview of new product launches, new technological developments, innovative services, and ongoing R&D. The report deals with qualitative and quantitative analysis of the market including PEST analysis, SWOT analysis and Porter’s five forces analysis. The Silicon Carbide market report focuses on six major regions, namely North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. The report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

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