SiC power semiconductor Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2023
The
market for SiC
power semiconductor is
projected to cross the USD 1,359 Mn and expand at a noteworthy CAGR of 26.3%
over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in
a detailed study. The global SiC power semiconductor market was valued at USD
345.2 Mn in 2017.
Get
Free Sample Report : https://www.marketresearchfuture.com/sample_request/6441
Desirable features of SiC power devices
such as higher critical electrical field, higher thermal conductivity, higher
operating temperature, and higher current density allows SiC power devices to
handle much power density as compared to traditional silicon counterparts.
Major semiconductor companies have turned to the use of SiC as an ideal alternative
which has spurred the growth of the global SiC power semiconductor market.
Rise in a number of energy efficiency
projects to cater to the augmenting energy problems across the globe has
induced high demand for SiC power semiconductors. The governments in multiple
countries, especially in developing countries where energy crisis is an area of
huge concern. SiC power devices exhibit advanced properties as compared to
silicon and are utilized in solar power generation. SiC power semiconductors
eliminate various issues associated with material limitations of silicon.
Enhanced power handling capacity, high
thermal conductivity, and lower conduction loss properties of SiC power
semiconductors have led to the expansion of the application range of these devices
across various industry verticals which incites substantial growth in the
global SiC power semiconductor market.
Being a relatively new technology, SiC
power semiconductor market is met by certain challenges which are yet to be
addressed. High cost of fabrication, expensive and bulky packaging, and
complexities associated with the design and lack of expertise for the same are
few impediments to the growth of the global SiC power semiconductor market.
Availability of gallium-nitride
(GaN)-based power semiconductors as a substitute to SiC power semiconductors is
expected to limit the growth of the global SiC power semiconductor market over
the forecast period. Meanwhile, the introduction of 5G mobile communications is
expected to create ample growth opportunities over the forecast period.
Segmentation
The global SiC power semiconductor market
has been segmented based on device, wafer size, application, and end user.
By device, the global SiC power
semiconductor market has been segmented into SiC discrete devices and SiC bare
die devices. The SiC discrete devices segment has been further segmented into
MOSFET, diode, and module.
By wafer size, the global SiC power
semiconductor market has been segmented into 2-inch, 4-inch, and 6-inch and
above.
By application, the global SiC power
semiconductor market has been segmented into RF devices & cellular base
stations, power supply & inverter, power grids, EV motors, industrial motor
drives, railway traction, and others.
By end user, the global SiC power semiconductor
market has been segmented into telecommunication, energy & power,
automotive, industrial, electronics, and others.
Browse
Full Report @ https://www.marketresearchfuture.com/reports/sic-power-semiconductor-market-6441
Regional Outlook
North America, Europe, Asia Pacific
(APAC), and the Rest of the World (RoW) are the key markets for SiC power
semiconductor.
APAC is the largest market for SiC power
and is expected to dominate the global market throughout the forecast period.
Expansion of 4G and LTE network has resulted in the proliferation of RF and
cellular base station in the region. The rise in a number of energy efficiency
projects coupled with government initiatives to develop solar power in the
region acts as a plus for the growth of the market. In addition, the region has
attracted massive investments from major players which fosters market
growth.
Europe is a significant market driven by
a thriving automotive industry in the region. The automotive industry generates
substantial demand for SiC semiconductors since they allow for overall cost
reduction.
North America market accounts for a 25%
share of the global market. Presence of significant silicon carbide
manufacturers and high investment on R&D activities drives the market in
North America.
Competitive Analysis
Mitsubishi Electric Corporation,
STMicroelectronics NV, Cree Inc., ON Semiconductor, Infineon Technologies AG,
and others are the eminent players in the global SiC power semiconductor
market. The global SiC power semiconductor market is highly competitive where
the growth of the vendors majorly depends on conditions such as government
support, and industry development. In a bid to gain a competitive edge over the
market, the market participants are focusing on R&D and expansion of
product line to provide energy efficient and cost-effective components.
About Market
Research Future:
Market Research Future (MRFR) has created a niche
in the world of market research. It is counted among the top market research
companies that offer well-researched and updated market research reports and
insights to businesses of all sizes. What sets us apart is our super-responsive
team that offers quality work keeping clients abridged of the prospective
challenges and opportunities in various markets. Our team is adept in their
space as well as patiently listens to every client.
The best part is they know their work inside out
and possess the expertise to guide the client in the right direction and
achieve results on a tight deadline. We are a one-stop solution for all your
data research needs. Our team does not believe in the “one size fits all”
approach to creating a report that is detailed and concise. We handle 13
industry verticals including Healthcare, Chemicals and Materials, Information
and Communications Technology, Semiconductor and Electronics, Energy and Power,
Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and
Defense, Industrial Automation and Equipment, Packaging & Transport,
Construction, and Agriculture. With our unique approach for every market
report, we aim to reach the zenith in qualitative business intelligence and
syndicated market research.
Our Forte
- Strong industry focus
- Robust methodology
- Tailor-made solutions
- Disruptive research
- Cutting-edge detailed reports
- Competitive pricing
- Domain expert researchers
- Timely delivery
- Ground-breaking approach
- Advanced and transparent research methodology
- Cover latest trends and innovations
Comments
Post a Comment