The Global Silicon Carbide Market is estimated to be US$ 3.2 Billion in 2023. It is poised to register 12.8% growth over the forecast period from 2023 to 2030 to reach US $ 7.4 billion 2030.
The market growth is driven by the Increasing Silicon Carbide used in power electronics for its superior properties, including high thermal conductivity and wide bandgap. The growth of electric vehicles (EVs) and renewable energy systems has driven the demand for SIc-based power devices. Leading companies are focusing on Renewable Energy, 5G, High-Frequency Electronics, Industrial Applications, Energy Storage, SiC Substrates and Components, Supply Chain and Manufacturing Advancements, and others to boost market shares in the industry.
The silicon Carbide (SiC) market was experiencing substantial growth due to rising demand in electric vehicles (EVs), renewable energy, and power electronics applications. SiC's efficiency and environmental advantages were driving its adoption across various industries, including automotive, industrial, and 5G technology. Major challenges included cost and supply chain disruptions. Key players included Cree Inc. and STMicroelectronics.
Silicon Carbide (SiC) significantly improves electric vehicle (EV) efficiency and range by enabling more efficient power electronics and propulsion systems. Replacing traditional silicon with SiC components reduces power losses, enhances energy efficiency, speeds up charging, and ultimately extends the EV's range, making SiC a vital contributor to advancing electric mobility in the Silicon Carbide market.
Growing environmental awareness is a key driver for the demand in the Silicon Carbide (SiC) market, as SiC's efficiency and environmental benefits align with sustainability goals. This awareness is fueling adoption in sectors like electric vehicles, renewable energy, and industrial processes, boosting SiC market demand.
Technological advancements are propelling the Silicon Carbide (SiC) market by improving manufacturing processes, material quality, and device performance. These advancements reduce costs and enhance SiC's competitiveness in power electronics, automotive, and renewable energy sectors, solidifying its status as a leading semiconductor material.
The Global Silicon Carbide Market is analyzed across SiC Discrete Devices (SiC Diode, SiC MOSFET), SiC Module, and others. Of these Cloud Based will register the fastest growth. SiC discrete devices, including diodes and MOSFETs, are crucial in the Silicon Carbide (SiC) market. They offer low switching losses, high-temperature tolerance, and efficient power conversion, enhancing the performance of various applications such as electric vehicles, renewable energy, and industrial systems.
The Global Silicon Carbide Market is analyzed across various applications including Energy and Power, Industrial, Transportation, Telecommunications, and others. Of these, Automotive held a significant market share in 2023. The automotive sector is a pivotal driver in the Silicon Carbide (SiC) market, with SiC technology playing a significant role in improving power electronics and electric propulsion systems. SiC components, such as SiC MOSFETs and diodes, reduce energy losses and extend the range of electric vehicles (EVs).
By Device
By Wafer Size
By End-user
By Region
* List not exhaustive
Silicon Carbide Market Outlook 2023
1 Market Overview
1.1 Introduction to the Silicon Carbide Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 Silicon Carbide Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Silicon Carbide Market Companies with Area Served
4.2.2 Products Offerings Global Silicon Carbide Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 Post-COVID-19 Scenario- Low Growth Case
5.1.3 Post-COVID-19 Scenario- Reference Growth Case
5.1.4 Post-COVID-19 Scenario- Low Growth Case
6 Global Silicon Carbide Market Trends
6.1 Global Silicon Carbide Revenue (USD Million) and CAGR (%) by Type (2018-2030)
6.2 Global Silicon Carbide Revenue (USD Million) and CAGR (%) by Applications (2018-2030)
6.3 Global Silicon Carbide Revenue (USD Million) and CAGR (%) by Regions (2018-2030)
7 Global Silicon Carbide Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global Silicon Carbide Revenue (USD Million) by Type (2018-2022)
7.1.1 Global Silicon Carbide Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global Silicon Carbide Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global Silicon Carbide Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global Silicon Carbide Development Regional Status and Outlook
8.1 Global Silicon Carbide Revenue (USD Million) By Regions (2018-2022)
8.2 North America Silicon Carbide Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America Silicon Carbide Revenue (USD Million) by Country (2018-2022)
8.2.2 North America Silicon Carbide Revenue (USD Million) by Type (2018-2022)
8.2.3 North America Silicon Carbide Revenue (USD Million) by Applications (2018-2022)
8.3 Europe Silicon Carbide Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe Silicon Carbide Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe Silicon Carbide Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe Silicon Carbide Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific Silicon Carbide Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific Silicon Carbide Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific Silicon Carbide Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific Silicon Carbide Revenue (USD Million) by Applications (2018-2022)
8.5 South America Silicon Carbide Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America Silicon Carbide Revenue (USD Million), by Country (2018-2022)
8.5.2 South America Silicon Carbide Revenue (USD Million) by Type (2018-2022)
8.5.3 South America Silicon Carbide Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa Silicon Carbide Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa Silicon Carbide Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa Silicon Carbide Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa Silicon Carbide Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global Silicon Carbide Market Revenue (USD Million), by Type, and Applications (2023-2030)
10.1 Global Silicon Carbide Revenue (USD Million) and Market Share (%) by Type (2023-2030)
10.1.1 Global Silicon Carbide Revenue (USD Million), and Market Share (%) by Type (2023-2030)
10.2 Global Silicon Carbide Revenue (USD Million) and Market Share (%) by Applications (2023-2030)
10.2.1 Global Silicon Carbide Revenue (USD Million), and Market Share (%) by Applications (2023-2030)
11 Global Silicon Carbide Development Regional Status and Outlook Forecast
11.1 Global Silicon Carbide Revenue (USD Million) By Regions (2023-2030)
11.2 North America Silicon Carbide Revenue (USD Million) by Type, and Applications (2023-2030)
11.2.1 North America Silicon Carbide Revenue (USD) Million by Country (2023-2030)
11.2.2 North America Silicon Carbide Revenue (USD Million), by Type (2023-2030)
11.2.3 North America Silicon Carbide Revenue (USD Million), Market Share (%) by Applications (2023-2030)
11.3 Europe Silicon Carbide Revenue (USD Million), by Type, and Applications (2023-2030)
11.3.1 Europe Silicon Carbide Revenue (USD Million), by Country (2023-2030)
11.3.2 Europe Silicon Carbide Revenue (USD Million), by Type (2023-2030)
11.3.3 Europe Silicon Carbide Revenue (USD Million), by Applications (2023-2030)
11.4 Asia Pacific Silicon Carbide Revenue (USD Million) by Type, and Applications (2023-2030)
11.4.1 Asia Pacific Silicon Carbide Revenue (USD Million), by Country (2023-2030)
11.4.2 Asia Pacific Silicon Carbide Revenue (USD Million), by Type (2023-2030)
11.4.3 Asia Pacific Silicon Carbide Revenue (USD Million), by Applications (2023-2030)
11.5 South America Silicon Carbide Revenue (USD Million), by Type, and Applications (2023-2030)
11.5.1 South America Silicon Carbide Revenue (USD Million), by Country (2023-2030)
11.5.2 South America Silicon Carbide Revenue (USD Million), by Type (2023-2030)
11.5.3 South America Silicon Carbide Revenue (USD Million), by Applications (2023-2030)
11.6 Middle East and Africa Silicon Carbide Revenue (USD Million), by Type, and Applications (2023-2030)
11.6.1 Middle East and Africa Silicon Carbide Revenue (USD Million), by Region (2023-2030)
11.6.2 Middle East and Africa Silicon Carbide Revenue (USD Million), by Type (2023-2030)
11.6.3 Middle East and Africa Silicon Carbide Revenue (USD Million), by Applications (2023-2030)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Silicon Carbide Market Companies with Areas Served
Table 3 Products Offerings Global Silicon Carbide Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Silicon Carbide Revenue (USD Million) And CAGR (%) By Type (2018-2030)
Table 8 Global Silicon Carbide Revenue (USD Million) And CAGR (%) By Applications (2018-2030)
Table 9 Global Silicon Carbide Revenue (USD Million) And CAGR (%) By Regions (2018-2030)
Table 10 Global Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Table 11 Global Silicon Carbide Revenue Market Share (%) By Type (2018-2022)
Table 12 Global Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Table 13 Global Silicon Carbide Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global Silicon Carbide Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global Silicon Carbide Market Share (%) By Regions (2018-2022)
Table 16 North America Silicon Carbide Revenue (USD Million) By Country (2018-2022)
Table 17 North America Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Table 18 North America Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe Silicon Carbide Revenue (USD Million) By Country (2018-2022)
Table 20 Europe Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Table 21 Europe Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific Silicon Carbide Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Table 25 South America Silicon Carbide Revenue (USD Million) By Country (2018-2022)
Table 26 South America Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Table 27 South America Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa Silicon Carbide Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Table 33 Global Silicon Carbide Revenue Market Share (%) By Type (2023-2030)
Table 34 Global Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Table 35 Global Silicon Carbide Revenue Market Share (%) By Applications (2023-2030)
Table 36 Global Silicon Carbide Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)
Table 37 North America Silicon Carbide Revenue (USD)By Country (2023-2030)
Table 38 North America Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Table 39 North America Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Table 40 Europe Silicon Carbide Revenue (USD Million) By Country (2023-2030)
Table 41 Europe Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Table 42 Europe Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Table 43 Asia Pacific Silicon Carbide Revenue (USD Million) By Country (2023-2030)
Table 44 Asia Pacific Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Table 45 Asia Pacific Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Table 46 South America Silicon Carbide Revenue (USD Million) By Country (2023-2030)
Table 47 South America Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Table 48 South America Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Table 49 Middle East and Africa Silicon Carbide Revenue (USD Million) By Region (2023-2030)
Table 50 Middle East and Africa Silicon Carbide Revenue (USD Million) By Region (2023-2030)
Table 51 Middle East and Africa Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Table 52 Middle East and Africa Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Figure 4 Global Silicon Carbide Revenue Market Share (%) By Type (2022)
Figure 5 Global Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global Silicon Carbide Revenue Market Share (%) By Applications (2022)
Figure 7 Global Silicon Carbide Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global Silicon Carbide Market Share (%) By Regions (2022)
Figure 9 North America Silicon Carbide Revenue (USD Million) By Country (2018-2022)
Figure 10 North America Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Figure 11 North America Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe Silicon Carbide Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific Silicon Carbide Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America Silicon Carbide Revenue (USD Million) By Country (2018-2022)
Figure 19 South America Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Figure 20 South America Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa Silicon Carbide Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa Silicon Carbide Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa Silicon Carbide Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Figure 25 Global Silicon Carbide Revenue Market Share (%) By Type (2030)
Figure 26 Global Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Figure 27 Global Silicon Carbide Revenue Market Share (%) By Applications (2030)
Figure 28 Global Silicon Carbide Market Revenue (USD Million) By Regions (2023-2030)
Figure 29 North America Silicon Carbide Revenue (USD Million) By Country (2023-2030)
Figure 30 North America Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Figure 31 North America Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Figure 32 Europe Silicon Carbide Revenue (USD Million) By Country (2023-2030)
Figure 33 Europe Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Figure 34 Europe Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Figure 35 Asia Pacific Silicon Carbide Revenue (USD Million) By Country (2023-2030)
Figure 36 Asia Pacific Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Figure 37 Asia Pacific Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Figure 38 South America Silicon Carbide Revenue (USD Million) By Country (2023-2030)
Figure 39 South America Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Figure 40 South America Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Figure 41 Middle East and Africa Silicon Carbide Revenue (USD Million) By Region (2023-2030)
Figure 42 Middle East and Africa Silicon Carbide Revenue (USD Million) By Region (2023-2030)
Figure 43 Middle East and Africa Silicon Carbide Revenue (USD Million) By Type (2023-2030)
Figure 44 Middle East and Africa Silicon Carbide Revenue (USD Million) By Applications (2023-2030)
Figure 45 Bottom-Up and Top-Down Approaches For This Report
Figure 46 Data Triangulation
By Device
By Wafer Size
By End-user
By Region