Silicon Carbide Power Semiconductors Market by Power Module (Power Product and Discrete Product) and Industry Vertical (IT & Telecom, Aerospace & Defense, Industrial, Energy & Power, Electronics, and Automotive & Healthcare) - Global Opportunity Analysis and Industry Forecast, 2018-2025

Update Available On-Demand

Silicon carbide (SiC) power semiconductor is a power device, which is used to control the distribution of power in an electronics system. Silicon carbide power semiconductors play a vital role in the power semiconductors market. The wider band gap, high switching frequency, and high electric field strength of SiC power devices allow them to be operated at higher temperatures and volumes as compared to their silicon counterparts. The silicon carbide power devices market has witnessed significant growth, owing to increasing number of industrial sectors that require SiC power devices, such as telecom, manufacturing, automotive, and energy & power sectors.

Increasing usage of efficient power electronics systems in IT & telecommunications, electric and hybrid electric vehicles, renewable energy systems such as solar and wind energy systems, and industrial motor drives significantly impacts the growth of the silicon carbide power semiconductors market. However, high cost of silicon wafers, which are used for the manufacturing of SiC-based power devices, restrains the growth of the market.

On the basis of power module, the power product segment accounted for the highest revenue in the market in 2017, because of its smaller solution size as compared to discrete products. Owing to the increasing penetration of electric vehicles, the use of silicon carbide power semiconductors is expected to grow the fastest in the automotive sector during the forecast period.

Among the analyzed geographical regions, the Asia-Pacific is expected to account for the highest revenue in the global market throughout the forecast period (2018–2025), followed by Europe, North America, and LAMEA. Moreover, the Asia-Pacific is expected to witness the highest growth rate, owing to the increasing usage of power electronics in developed countries, such as China, South Korea, and Japan, which indicate lucrative prospects for silicon carbide power semiconductor providers in the Asia-Pacific region.