Silicon carbide (SiC) Market valued at US $993.50 Billion is to reach a value of US $3441.12 Billion in 2030, growing at a CAGR of 16.80%

Carborundum, often known as silicon carbide (SiC), is a silicon and carbon chemical combination. SiC is anticipated to have a significant revenue share since it has the ability to replace other silicon-based transistors and semiconductors. The ability of SiC to reduce semiconductor size and cut power system loss by 50% is one of the main drivers fueling the growth of the SiC market.

Batteries made of silicon carbide semiconductor ensure that electric cars (EV) and plug-in hybrid electric vehicles (PHEV) drive for longer distances while decreasing vehicle weight and cost and increasing efficiency. They also avoid charge loss.

Market Overview:

The demand for hybrid and electric vehicles, which outperform conventional vehicles in terms of fuel efficiency, emissions, and digital connectivity, is rising as environmental awareness, global warming mitigation, and the dependence on fossil fuels decline. With the spike in interest in electric vehicles (EVs), demand for SiC devices rises because these devices can boost EV efficiency and range while lowering weight and size, boosting the total power density of the car electronics. With substantially lower on-state resistance and switching losses, SiC devices are perfect for usage in high temperatures and are increasingly used in high voltage power converters. This enables them to dissipate heat more quickly.

From 2017 to 2019, the U.S. consumption patterns for silicon carbide were mostly constant, with increased product penetration seen in the domestic semiconductor market. One of the principal applications for the product continued to be in wafer form. The domestic market's suppliers had strong development, with Washington Mills emerging as the market leader in the silicon carbide sector. However, the global pandemic and ensuing shutdown of manufacturing operations had a direct impact on new order bookings, which ultimately contributed to the FY 2020 shortfall. Movement restrictions and requirements for social segregation have a direct impact on domestic manufacturers' productivity rates.

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Segmental Analysis of Global Silicon (SiC) Market:

Based on Device Type:

• SIC Discrete Device
• SIC Diode
• SIC MOSFET
• SIC Bare Die
• SIC Module

Based on Wafer Size:

• 2 Inch
• 4 Inch
• 6 Inch and above

Based on Application:

• Power Grid Devices
• Flexible AC Transmission Systems (FACTs)
• High-Voltage, Direct Current Systems (HVCDs)
• Power Supplies and Inverters
• RF Devices Cellular Base Stations
• Lighting Control Systems
• Industrial Motor Drives
• Flame Detectors
• EV Motor Drives
• EV Charging Stations
• Electronic Combat Systems
• Wind Turbine
• Solar Power Systems
• Astronomical
• Pyrometer
• Nuclear, and
• Atomic Sciences

Based on Vertical:

• Energy Power
• Automotive
• Renewable Power Generation
• Defence
• Power Electronics
• Telecommunication

Competitive Landscape:

Infineon Technologies AG, CREE, INC., ROHM Co. Ltd., STMicroelectronics N.V., Fuji Electric Co. Ltd., ON Semiconductor, General Electric Company, Toshiba Corporation, Renesas Electronics Corporation and Microchip Technology Incorporated.

Covid- 19 Impact:

COVID-19 had a negative effect on the market in 2020. The market for silicon carbide has been significantly impacted by the disruption in the global supply chain as well as decreased demand from a number of end-user sectors. Around 78 million units were sold in the global automotive industry in 2020, which is significantly fewer than the 90.4 million units sold in 2019. The demand for silicon carbide has also been impacted by decreased demand from other industries, such as aerospace and defence, electronics, etc., as a result of work stoppages, supply chain interruptions, and labour shortages. The situation is anticipated to improve in 2021, which will restore the market's growth trajectory during the projection period.

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