Silicon Carbide Market Worth $1,812 Million by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 28, 2020 /PRNewswire/ -- According to the new market research report "Silicon Carbide Market by Device (SiC Discrete Device and Bare Die), Wafer Size (4 Inch, 6 Inch and Above, and 2 Inch), Application (Power Supplies and Inverters and Industrial Motor Drives), Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Silicon Carbide Market size is estimated to grow from USD 749 million in 2020 to USD 1,812 million by 2025, at a CAGR of 19.3%. The size-reduction feature facilitated by SiC-based devices is one of the primary factors fueling the growth of this market.

Ask for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=439

"The SiC discrete device segment accounted for a larger share of silicon carbide market in 2019"

SiC discrete device accounted for a larger share of the silicon carbide industry in 2019. The growth of this segment is attributed to the increasing demand for SiC discrete devices for use in numerous applications, including power grid devices, high-voltage direct current systems (HVDC), power supplies and inverters, and RF & cellular base station applications.

"Demand for 6 Inch and above is expected to grow at the highest CAGR during the forecast period"

The 6 inch and above segment is projected to lead the silicon carbide market between 2020 to 2025 exhibiting the fastest CAGR. Its ability to produce a large number of devices in a single batch is expected to drive the growth of the segment. Moreover, they are much superior compared to 2- and 4-inch silicon carbide wafer sizes.

"Power supplies and inverters application accounted for the largest share of silicon carbide industry in 2019"

The power supplies and inverters application held the largest share of the silicon carbide market in 2019. The growth is attributed to the increasing demand for highly efficient and stable power supplies such as power modules, uninterruptible power supply (UPS), and wireless charging devices in automotive, power electronics, renewable power generation, and telecommunication sectors.

"The demand for silicon carbide is expected to witness the highest gains from the automotive vertical during the forecast period"

The automotive vertical is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the increasing investments by business giants such as Tesla, Mercedes-Benz, and Mitsubishi in the manufacturing and development of on-board chargers (OBCs) and inverters for EV and plug-in hybrid EV (PHEV).

Browse in-depth TOC on "Silicon Carbide Market"

67 – Tables
45 – Figures
145 – Pages

Inquiry Before Buying:

https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=439

"APAC is expected to grow at highest CAGR during the forecast period"

APAC is expected to grow at the highest CAGR during the forecast period. The growth of the silicon carbide market in APAC is attributed to the presence of regional vendors in China, Japan, and South Korea, offering low-cost solutions, which in turn causes a decline in prices of silicon carbide devices. Additionally, the increase in the mass production of electric vehicles in the aforementioned countries supports the growth of the market.

Infineon Technologies AG (Munich, Germany), CREE, INC. (North Carolina, US), ROHM Co., Ltd. (Kyoto, Japan), STMicroelectronics N.V. (Geneva, Switzerland), and Fuji Electric Co., Ltd. (Tokyo, Japan), are the key players in the silicon carbide market. These players are increasingly undertaking strategies such as product launches & developments, expansions, partnerships, agreements, contracts, collaborations, and acquisitions to increase their market share.

Related Reports :

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

Compound Semiconductor Market by Type (GaN, GaAs, InP, SiGe, SiC, GaP), Product (LED, RF, Optoelectronics, Power Electronics), Application (Telecommunications, General Lighting, Military & Defense, Datacom, Automotive), Geography - Global Forecast to 2024

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/silicon-carbide-electronics-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com 
Content Source : https://www.marketsandmarkets.com/PressReleases/silicon-carbide.asp 

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg