Silicon Carbide (SiC) Semiconductor Market Size, Share, Growth, and Industry Analysis, By Type (SIC Power Semiconductors, SIC Power Semiconductor Devices & SIC Power Diode Nodes), By Application (Automotive, Aerospace and Defense, Computers, Consumer Electronics, Industrial, Healthcare, Power Sector & Solar), and Regional Forecast to 2035

SILICON CARBIDE (SIC) SEMICONDUCTOR MARKET OVERVIEW

The global silicon carbide (sic) semiconductor market size was USD 47041.62 million in 2026 and is projected to touch USD 74441.22 million by 2035, exhibiting a CAGR of 4.3% during the forecast period.

The market for the semiconductor industry based on silicon carbide is rapidly expanding, due to the extreme demand for high performers and energy-efficient integrated electronic devices. Silicon carbide semiconductors are modern materials well-known for excellent thermal carrying capacity, high durability against high potential sources, and efficiency in comparison to the traditional silicon-based semiconductors. They find many applications in electric vehicles, power electronics, and renewable energy systems. Due to the change of industries to sustainability and electrification, silicon carbide technology is being seen in the limelight. This market is a true reflection of a significant transition in current semiconductor applications.

• 

  Request a Free sample to learn more about this report.

GLOBAL CRISES IMPACTING SILICON CARBIDE (SIC) SEMICONDUCTOR MARKETCOVID-19 IMPACT

"Silicon Carbide (SiC) Semiconductor Industry Initially Had a Negative Effect but Eventually Accelerated Due to Accelerating Demand in Electric Vehicles and Clean Energy Sectors ""during COVID-19 Pandemic"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The silicon carbide (SiC) semiconductor market was affected positively and negatively by the COVID-19 pandemic. At first, supply chain and production delays in manufacturing affected the production and growth in the market negatively. However, when the demand for electric vehicles and renewable energy got back on track after they crashed all the way down, the market recovered vigorously. Digital infrastructure and green energy adoption in power electronics were boosted by this trend of shifting toward digital infrastructure and green energy. The pandemic brought the need for strong and energy-efficient semiconductor technologies under the spotlight.

LATEST TREND

"EV adoption boosts market growth through efficiency"

The embracement of SiC in electric vehicles (EVs) and renewable energy applied in the SiC semiconductor market is a major trend. The need for more power efficiency and improved charging speeds in EVs is driving the need for SiC-based components. Such applications are suited for use with this SiC due to the fact that it can withstand high temperatures and increase energy conversion efficiency. In addition, the growing EV market is the catalyst for wider and stronger SiC offerings in the automotive power systems.

SILICON CARBIDE (SIC) SEMICONDUCTOR MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into SIC Power Semiconductors, SIC Power Semiconductor Devices & SIC Power Diode Nodes

• SiC Power Semiconductors: SiC power semiconductors are popular for their potential to resist high levels of voltage, temperatures, and frequency compared to traditional silicon-based components. Such properties make them good for high-efficiency conversion of power in electric vehicles, renewable energy systems, and industrial applications. There is an increase in the demand for the SiC semiconductors due to their low energy loss and small size. So these components are embraced all over the world.
• SiC Power Semiconductor Devices: SiC power semiconductor devices which consist of MOSFETs, JFETs, and Schottky diodes, that improve switching performance and thermal conductivity. Such devices are vital in applications like electric trains, aerospace systems, and smart grids. They enable more compact and lighter system designs that help the manufacturers achieve the best performance with minimal costs. Their reliability in the long term, even under extreme environments, is another strong selling point in the market.
• SiC Power Diode Nodes: The SiC power diode nodes dominate in applications due to the quick switching and low reverse recovery losses. Such diodes play an important role in the improvement of the productivity of power supplies and inverters, especially in solar power as well as in automotive chargers. Being able to minimize power dissipation, they are amenable to high-temperature and high-frequency operation. The increased pressure for energy-efficient infrastructure is increasing the adoption of such diodes within different industries.

By Application

Based on application, the global market can be categorized into Automotive, Aerospace and Defense, Computers, Consumer Electronics, Industrial, Healthcare, Power Sector & Solar

• Automotive: The automotive industry is a significant player in SiC semiconductors’ adoption as the output of the electric cars rises. The SiC components increase the productivity and performance of EV powertrains and EV charging systems. They enable lighter, smaller, and more energy-efficient designs of vehicles with the help of high thermal conductivity.
• Aerospace and Defense: In the field of aerospace and defense, the characteristics of semiconductors lie in their ability to withstand high temperatures and being power efficient. They are applied to the radar systems, avionics, and satellite power management. Such components increase performance in extreme environments and mission-critical systems.
• Computers: Computer systems are incorporating SiC semiconductors in an attempt to enhance speed switching and effective heat control. They help to increase high-performance computing and energy-efficient data centers. Their capability of withstanding higher voltages facilitates strong and small circuit designs.
• Consumer Electronics: For consumer electronics, SiC semiconductors enable fast charging and reduced energy spending. They are present in such things as smartphones, laptops, and smart home appliances. The efficiency aids prolong the battery life and minimize heat production in limited devices.
• Industrial: Industrial applications are enhanced by SiC semiconductors in terms of enhanced motor drives, automation systems, and power supplies. These elements promote energy-saving operations and diminish the downtime of the system. Their robustness in hostile environments contributes to the general equipment reliability.
• Healthcare: SiC semiconductors are applied to high-end medical instruments, such as imaging systems and portable medical diagnostic equipment. Their efficient power management guarantees stability and precision in the critical healthcare applications. They also enable reducing the sizes and energy consumption of medical devices.
• Power Sector: In the power industry, SiC semiconductors are pivotal in the systematic transmission and conversion of electricity. They are applied in smart grids, inverters, and energy storage systems. Such devices improve grid stability and minimize losses of energy.
• Solar: SiC semiconductors are quite useful in solar systems since they increase the efficiency of inverters and power conversion units. They have high-voltage and high-frequency operations, necessary for solar integration. The use of them results in more energy production and longer system life.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.                   

Driving Factor

"Rising EV production drives market growth significantly"

The global trend of increased production of electric vehicles is one of the key factors for the Silicon Carbide (SiC) Semiconductor Market Growth. SiC components provide greater efficiency and power density in EV powertrains as compared to the conventional silicon-based semiconductors. This results in a longer driving range, faster charging, and improved performance altogether. The increasing energy efficiency target has led automakers to adopt SiC. This will highly drive market growth.

"Clean energy investments drive market growth globally"

Increased investments in solar and wind energy have led to great demand for efficient power conversion systems. SiC semiconductors are perfect for high-voltage, high-frequency utilization and therefore crucial in the field of solar inverters and smart grid technologies. They minimize the energy losses and increase overall system reliability. Global governments and industries are all the way driving to cleaner energy transitions. This change continues to drive the adoption of SiC devices.

Restraining Factor

"High production costs hinder market growth potential"

High manufacturing cost is the major restraining factors of the silicon carbide (SiC) semiconductor market. Making SiC wafers requires complicated procedures and costly inputs when compared with traditional silicon. The scarcity of high-grade SiC substrates also contributes to the expenses. Such high prices make the SiC components more inaccessible for small and medium-sized manufacturers. This creates a limited adoption of the market in cost-sensitive areas.

Opportunity

"EV demand and incentives boost market growth"

One of the opportunities for growth in the silicon carbide (SiC) semiconductor market is the rapidly developing industry of electric vehicles (EV). SiC semiconductors have greater efficiency and faster switching speeds and are thus most suitable for EV powertrains and charging systems. More and more automakers are incorporating the SiC technology in vehicles to improve the performance and range of electric vehicles as the worldwide demand for EVs continues to grow. Clean energy transportation encouragement by the government also helps this situation. This is a strong growth outlet for manufacturers of SiC.

Challenge

"High costs and skill shortages hinder market growth"

Tremendous restraint experienced by the silicon carbide (SiC) semiconductor market is that its manufacturing cost is much higher as compared to silicon-based semiconductors. The manufacturing of SIC calls for advanced fabrication methods aided by costly raw materials, and this hampers large-scale exploitation. Also, there is an insufficient number of qualified workers and a lack of foundry facilities. These factors can slow the full-scale commercialization. These are hurdles that need to be overcome for the sustainable growth of the market.

SILICON CARBIDE (SIC) SEMICONDUCTOR MARKET REGIONAL INSIGHTS

• North America

"Technological advances and EV adoption drive North America’s market growth"

North America holds the Silicon Carbide (SiC) Semiconductor Market Share by a strong margin due to technological advancements and robust demand in the spheres of automotive as well as energy. The United States is a major player as Cree, ON Semiconductor, and Wolfspeed are dominating the market. The United States Silicon Carbide (SiC) Semiconductor Market is driven by high adoption levels of electric vehicles and renewable energy solutions. Besides, the focus on innovation and energy efficiency helps the region to build its market positions. The dominance is furthered by the investments that North America has made in SiC manufacturing.

• Europe

"Europe’s green policies and EV focus boost market growth"

Europe is contributing substantially towards the silicon carbide (SiC) semiconductor market with the pursuit of the adoption of electric vehicles (EV) and the renewable energy initiatives. European nations like Germany are spending heavily on the SiC power electronics technology in the automotive and industrial sectors. Influential players such as STMicroelectronics and Infineon Technologies are also increasing production facilities for SiC in order to fulfill the increasing demand. Furthermore, the heavy emphasis put on decarbonization and energy efficiency in Europe increases the demand for the area for SiC semiconductors. The green transition policies of the European Union add to this expansion.

• Asia

"Asia’s EV expansion and green policies drive market growth"

Asia has great potential in the development of the silicon carbide (SiC) semiconductor market, due to the increasing electric vehicle production and renewable energy projects on a rampage. China, Japan, and South Korea are the major players, and they perform considerable investments in SiC technology and production. In China there is increasing rate of consumption of SiC for power electronics and EV applications. Leading semiconductor manufacturers such as Mitsubishi Electric and Samsung are using SiC technology to fulfill the demands in the region. The government’s strong drive towards green energy initiatives tremendously boosts the market growth.

KEY INDUSTRY PLAYERS

"Key players’ innovations and investments boost market growth"

The leading players in the industry, like Cree, STMicroelectronics, Infineon Technologies, and Wolfspeed, are greatly shaping the silicon carbide (SiC) semiconductor market. Their expansion in SiC power units, along with massive investment in manufacturing plants, are qualifying SiC in electric vehicles, renewable energy, and power electronics. These players are concerned with the improvement of efficiency, decreasing costs, and developing the technologies of SiC, which are growing the market. These strategic alliances enhance in turn the industrial integration for SiC.

List Of Top Silicon Carbide (Sic) Semiconductor Companies

• Cree Incorporated (U.S.)
• Fairchild Semiconductor International Inc (U.S.)
• Genesic Semiconductor Inc (U.S.)
• Infineon Technologies Ag (Germany)
• Microchip Technology (U.S.)
• Norstel AB (Sweden)
• Renesas Electronics Corporation (Japan)
• ROHM Co Ltd (Japan)

KEY INDUSTRY DEVELOPMENT

February, 2024: Infineon Technologies AG has opened a new silicon carbide manufacturing plant in Kulim, Malaysia. The plant is dedicated to the making of 200mm silicon carbide wafers, an essential part for high-efficiency electric vehicles and industrial uses. Infineon spent more than 2 billion euros for this expansion in order to cope with the growing demand for its products worldwide. This step is consistent with the strategic objectives of the company to become a global player in the silicon carbide semiconductor market segment. It also helps in strengthening the supply chain of fast-growing EV and renewable energy markets. The plant will have full production capacity by 2027 and will contribute substantially to the global silicon carbide market growth.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.