Silicon Carbide Wafer Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

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The global market value of the Silicon Carbide Wafer Market was valued at USD 740.1 in 2022, and a CAGR of 21.1% is expected during the forecast period. SiC wafers are semiconductors, made of silicon and carbon, that are used in a variety of applications such as power electronics, LED lighting fixtures, microwaves, refrigerators, 5G networks, and electric vehicles. Increasing demand for SiC wafers due to their higher refractive index and being more brittle and harder is a driving factor in the market.

Increasing demand for power electronics is a driving force in the market. Increasing demand for electric vehicles is driving growth in the market significantly. Silicon wafers are critical in the production of power electronics for electric vehicles. SiC-based components allow for more efficient energy conversion and heat dissipation, leading to better EV performance. In various industries, there is an increasing focus on reducing energy consumption.

Increasing growth in the semiconductor industry is driving growth in the market significantly. Increasing demand for silicon carbide wafers is increasing with increasing industrialization.


Growth Drivers

Increasing demand for SiC wafers is known for their high efficiency in power management applications. making them ideal for power devices used for renewable energy systems, power grids, and industrial applications. Adoption of renewable energy sources, such as wind and solar power, is driving demand for SiC-based power electronics, which improves the efficiency and reliability of energy conversion systems in solar inverters and wind turbines.

The rollout of 5G networks is spurring the demand for more efficient power devices that handle higher-frequency applications, making them ideal for use in 5G base stations and communication equipment. SiC wafers are also seeing increased demand in aerospace and defense applications due to their ability to perform under extreme conditions such as high temperatures and radiation. Increasing demand for SiC devices to use it in radar systems, power supplies, and satellite communication.

Increasing investment by governments all around the world in semiconductor manufacturing and energy-efficient technologies often provides subsidies or incentives for SiC wafer production. Rising adoption in consumer electronics and supply chain developments are driving growth in the market significantly. Improvements in SiC wafer production techniques, such as the growth of large wafer sizes, have helped reduce manufacturing costs and increased the scalability of SiC technologies, making them more accessible for a wider range of applications.

SiC technology is increasingly being used in power supplies for high-efficiency consumer electronics, such as laptops, smartphones, and home appliances. The trend towards miniaturization and improved energy efficiency in consumer products is fueling demand for SiC wafers.

Segmentation

By Size

·         2- inch

·         3- inch

·         4- inch

·         6- inch

·         8- inch

·         12- inch

By Application

·         Power

·         Radio-Frequency

·         Other Applications

By End-User Industry

·         Telecom and Communications

·         Automotive and Electric Vehicles

·         Photovoltaic/Power Supply/Energy Storage

Industrial

·         UPS

·         Motor Drives

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

SiC Wafer Market by End-User Market

On the basis of the end-user, the SiC wafer market is segmented into telecom and communications, automotive and electric vehicles, and photovoltaic/power supply/energy storage. Automotive and electric vehicles are the leading segment and are expected to dominate the market during the forecast period. Increasing demand for electric vehicles all over the world is driving growth in the market.


SiC acts as a main inverter in electric vehicles. The inverter plays a crucial role in converting high DC voltages from the batteries into the necessary AC voltage to drive the traction electric motor. SiC provides an efficiency enhancement ranging from 6-10%. Main inverter benefits from lower conduction losses. Rising demand for battery-electric vehicles is driving growth in the market significantly. Rising demand for energy-efficient hybrid electric vehicles is driving growth in the market significantly.

Telecom and communications are another leading sector in the market. Increasing growth in the market is driving demand in the market.

Regional Outlook

On the basis of the regions, the Silicon Wafers Market is segmented into 5 parts: Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Asia Pacific is the leading region in the silicon wafer market and is expected to dominate the market during the forecast period due to rising urbanization and industrialization. Increasing disposable income and growth in demand for electric vehicles in the region are driving demand significantly in the market.

Increasing research and development to improve ceramic properties and manufacturing processes. Governments in countries like India and China are supporting investment in the silicon carbide market. Increasing demand for consumer devices like cellphones and laptops is driving growth in the market significantly. The presence of modern manufacturing facilities and established supply chains is driving growth in the market. The region has major key players like Toshiba, which brings significant growth in the market.

The ability to reduce the size of equipment is driving growth in the market. North American market due to rising growth in the semiconductor industry. Intel, AMD, and Qualcomm—these companies drive the demand for silicon wafers, which are essential components in semiconductor manufacturing. The region is at the forefront of technological innovations like AI, IoT, and 5G. These technologies require advanced chips and heavy investment in the region in the field of research and development of smaller and more efficient wafers, which boost the region’s market growth.


Governments in North America, particularly the United States, have been supporting the semiconductor industries with policies that encourage domestic manufacturing and reduce dependence on foreign suppliers. Key players in companies like global foundries and ON Semiconductor have a significant presence in North America, contributing to the region’s dominance. Region has a large market for consumer electronics and telecommunications, all of which require advanced semiconductor equipment. . SiC wafers are also seeing increased demand in aerospace and defense applications due to their ability to perform under extreme conditions such as high temperatures and radiation. Increasing demand for SiC devices to use it in radar systems, power supplies, and satellite communication.

Key Players

·         Mitsubishi Electric Corporation

·         Microchip Technology Inc

·         Toshiba Corporation

·         ROHM Semiconductor

·         Fuji Electric Co. Ltd

·         Semiconductor Components Industries LLC

·         STMicroelectronics

·         Infeneon Technologies

·         Xiamen Powerway Advance Material Co.

·         Other Players

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