Subject: MRR
Silicon Carbide Market worth $17.2 billion by 2029 - Exclusive Report by MarketsandMarketstm
CHICAGO, March 21, 2024 /PRNewswire/ -- The Silicon Carbide Market is expected to reach USD 17.2 billion by 2029 from USD 4.2 billion in 2024, at a CAGR of 32.6% during the 2024?2029 period according to a new report by MarketsandMarketstm. The major factors driving the growth of the silicon carbide market include the growing demand for renewable energy systems which leads to an increase in deployment of SiC devices and increasing number of initiatives and investments towards SiC devices.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=439
Browse in-depth TOC on "Silicon Carbide Market"
120 ? Tables
65 ? Figures
215 ? Pages
Silicon Carbide Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 4.2 billion |
Estimated Value by 2029 | $ 17.2 billion |
Growth Rate | Poised to grow at a CAGR of 32.6% |
Market Size Available for | 2020?2029 |
Forecast Period | 2024?2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Device, Wafer Size, End-use Application, Crystal Structure and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Defects in materials, designing and packaging processes in SiC devices |
Key Market Opportunities | Continuous developments to improve the quality of SiC substrate and epitaxy |
Key Market Drivers | Accelerating demand for power electronics |
SiC module is expected to have the largest market size in the silicon carbide market during the forecast period.
SiC module is expected to register the largest market size during the forecast period. This is attributed to the increasing need for faster switching, reduced need for passive components, smaller system footprint, suitability for high frequencies, high blocking voltage, elevated junction temperature tolerance, and increased current density for enhanced compactness and power density which thereby drives the market growth of SiC modules.
Automotive application is anticipated to register the highest CAGR in the silicon carbide market during the forecast period.
The ongoing demand for high-performance power and opto-semiconductor devices in the burgeoning automotive electronics market provides opportunities for SiC device providers to deliver the efficiency, reliability, and quality requisite for emerging automotive applications. Furthermore, the increasing utilization of SiC-powered wide bandgap semiconductors in car chips and charging stations for energy conservation and environmental protection is anticipated to propel market growth which thereby provides further growth opportunities in the silicon carbide industry. Therefore, automotive application is anticipated to register the highest CAGR in the silicon carbide market during the forecast period.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=439
The report profiles key players in silicon carbide companies such as STMicroelectronics N.V. (Switzerland), Infineon Technologies AG (Germany), Semiconductor Components Industries, LLC (US), WOLSPEED, INC. (US), ROHM Co., Ltd. (Japan), Fuji Electric Co., Ltd. (Japan), TOSHIBA CORPORATION (Japan), Microchip Technology Inc. (US), Mitsubishi Electric Corporation (Japan), and Coherent Corp. (US).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=439
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Power Electronics Market Size, Share, Statistics and Industry Growth Analysis Report by Device Type (Power Discrete, Power Module, Power IC), Material (Si, SiC, GaN), Voltage (Low, Medium, High), Vertical (ICT, Consumer Electronics, Industrial, Automotive, Aerospace) and Geography - Global Forecast to 2028
Compound Semiconductor Market Size by Type (GaN, GaAs, SiC, InP), Product (LED, Optoelectronics, RF Devices, Power Electronics), Application (Telecommunication, General Lighting, Automotive, Consumer Devices, Power Supply) & Region - Global Forecast to 2027
Optoelectronic Components Market by Component (Sensor, LED, Laser Diode, and Infrared Components), Application (Measurement, Lighting, Communications, and Security & Surveillance), Material, Vertical, and Region - Global Forecast to 2025
RF Semiconductor Market by Device (Filter, Power Amplifier, Switch, Low Noise Amplifier), Frequency Band, Material (GaAs, GaN, Si) Application (Consumer Devices, Automotive, Telecommunication, Aerospace & Defense), and Region - Global Forecast to 2025
GaN Power Device Market by Device Type (Power, RF Power), Voltage Range, Application (Power Drives, Supply & Inverter, and RF), Vertical (Telecommunications, Consumer, Automotive, Military, Defense, Aerospace), and Geography - Global Forecast to 2023
About MarketsandMarketstm
MarketsandMarketstm has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarketstm is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoretm (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarketstm.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarketstm INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/silicon-carbide-electronics-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/silicon-carbide.asp
Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets
These press releases may also interest you
|
News published on and distributed by:
