Global Silicon Carbide Market for Semiconductor Application

Global Silicon Carbide Market For Semiconductor Application 2023-2027
The silicon carbide market for semiconductor application is forecasted to grow by USD 3,336.31 mn during 2022-2027, accelerating at a CAGR of 22.1% during the forecast period. The report on the silicon carbide market for semiconductor application provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increase in demand for sic fibers in the aerospace sector, increasing demand for power electronics, and the growing EV automotive industry.

Technavio's silicon carbide market for semiconductor application is segmented as below:

By ProductPower electronicsOptoelectronic devicesFrequency devicesBy ApplicationAutomotiveEnergy and powerAerospace and defenseData and communication devicesOthersBy Geographical LandscapeAPACNorth AmericaEuropeSouth AmericaMiddle East and AfricaThis study identifies the power inverters for electric vehicles as one of the prime reasons driving the silicon carbide market for semiconductor application growth during the next few years. Also, growing demand for sic semiconductors from steel and energy industries and increasing adoption of 5G and wireless communication supported by sic semiconductors will lead to sizable demand in the market.

The report on the silicon carbide market for semiconductor application covers the following areas:Silicon carbide market for semiconductor application sizingSilicon carbide market for semiconductor application forecastSilicon carbide market for semiconductor application industry analysisThe robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading silicon carbide market for semiconductor application vendors that include ABB Ltd., Allegro MicroSystems Inc., Asahi Kasei Corp., BAE Systems Plc, Fuji Electric Co. Ltd., II VI Inc., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Inc., Mitsubishi Electric Corp., Navitas Semiconductor Inc., NXP Semiconductors NV, ON Semiconductor Corp., Qorvo Inc., Renesas Electronics Corp., ROHM Co. Ltd., STMicroelectronics NV, Toshiba Corp., TT Electronics Plc, and Wolfspeed Inc. Also, the silicon carbide market for semiconductor application analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.