SiC Power Semiconductor Market– Overview
The escalated usage of high-performance power systems is increasing the growth of the SiC power semiconductor market positively. Market reports associated to the semiconductors and electronics industry have been presented by Market Research Future which makes reports on other industry verticals that seek to study the current market scenarios better. The earnings in the market are anticipated to touch levels worth USD 1,359.2 Mn while demonstrating growth at a 26.3% CAGR in the forecast period.
The transition from the usage of traditional silicon technology devices is expected to create an augmented potential for expansion of the market in the coming years. The rekindled focus on tapping various renewable energy sources is raising the demand for solar photovoltaic panels that significantly employ SiC power semiconductors. The increased appetite of investors towards solar power projects is expected to create favorable prospects for progress in the coming years.
The analysis of the SiC power semiconductor market has been carried out on the basis ofthe segmentation that comprises of application, wafer size, device, and end user. The segmentation of the market by device segments the market into SiC bare die devices and SiC discrete devices. Based on wafer size, the SiC power semiconductor market has been segmented into 4-inch, 2-inch,6-inch and above. The segmentation on the basis of application divides the SiC power semiconductor market consists of RF devices & cellular base stations, power grids, railway traction, industrial motor drives, EV motors, power supply & inverter, and others. Based on end user, the SiC power semiconductor market has been segmented into electronics, telecommunication, automotive, industrial, energy & power, and others.
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The market shows an escalated growth pace due to the positive influence exerted by the market forces. The absorbed costs in the market are easily dealt with, opening up more room for development in the market. The promotional and other related expenses are improved particularly due to the progress of the market. The competitors are devotedly undertaking the obstacles to development and are building strategies that can lead to a beneficial effect on the market's growth. Certain regions in the market are expected to achieve an absolute advantage in the market place due to optimized strategies. The accretive nature of some of the assets in the market is expected to boost the growth potential of the market. Additionally, the alliances being created in the market are expected to further motivate the expansion of the market in the coming years.
The notable contribution in the SiC power semiconductor market is observed from companies such as ON Semiconductor, Infineon Technologies AG, STMicroelectronics NV, Mitsubishi Electric Corporation, Cree Inc., and others.
Detailed Regional Analysis
The regions such as North America, Europe, Asia Pacific, and the Rest of the World (RoW) are instrumental in powering the expansion of the SiC power semiconductor market globally. The Asia Pacific region is the chief market and was earning revenues worth USD 139.1 Mn in 2017. The launch of quite a few energy efficient projects in the region is a crucial driver of the Asia Pacific market for the SiC power semiconductor. A thriving population and growing urbanization in the region have encouraged the government to take on several solar power initiatives which has accelerated the market development. The rise in demand for SiC power semiconductors in nations such as India, China, and Japan creates an advantageous environment for the development of the SiC power semiconductors in the APAC region. The development of EV charging in China is also powering the development of the market. The APAC market is likely to develop at a CAGR of 24.9% over the forecast period while the European region is estimated to appear as the quickest growing market for SiC power semiconductor through the forecast period. The European region’s market for SiC power semiconductors is projected to display speedy growth which can be accredited to the successful growth of the automotive industry in the region. The European region market is expected to acquire a CAGR of 28.1% over the forecast period.
LIST OF TABLES
TABLE 1 MARKET SYNOPSIS 16
TABLE 2 LIST OF ASSUMPTIONS 19
TABLE 3 GLOBAL SIC POWER SEMICONDUCTOR MARKET, BY DEVICE, 2017-2023 (USD MILLION) 41
TABLE 4 GLOBAL SIC POWER SEMICONDUCTOR MARKET, BY SIC DISCRETE DEVICES, 2017-2023 (USD MILLION) 42
TABLE 5 GLOBAL SIC POWER SEMICONDUCTOR MARKET, BY WAFER SIZE, 2017-2023 (USD MILLION) 45
LIST OF FIGURES
FIGURE 1 GLOBAL SIC POWER SEMICONDUCTOR MARKET: MARKET STRUCTURE 19
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 24
FIGURE 3 DROC ANALYSIS OF GLOBAL SIC POWER SEMICONDUCTOR MARKET 27
FIGURE 4 DRIVERS IMPACT ANALYSIS: GLOBAL SIC POWER SEMICONDUCTOR MARKET 29
FIGURE 5 RESTRAINTS IMPACT ANALYSIS: GLOBAL SIC POWER SEMICONDUCTOR MARKET 30
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