Silicon Carbide Power Semiconductor Market: Industry Outlook, Growth Prospects and Key Opportunities

Silicon Carbide semiconductors are compound semiconductors developed by the composition of carbon and silicon. Silicon Carbide offers numerous advantages over silicon, which include enabling a wider range of p- and n-type control required for device construction, 3x the band gap, and 10x the breakdown electric field strength. These advance characteristics of silicon carbide arouse increased usage of silicon carbide semiconductors, such as in high-frequency radar systems, satellite communications, microwave links, and mobile phones. These this superiority of silicon carbide semiconductors stimulate increased usage of silicon carbide devices and is anticipated to fuel the growth of the global silicon carbide power semiconductor market during the research study.

The global silicon carbide power semiconductor market has witnessed significant growth during the last two decades and anticipated to show substantial growth during the forecast period of 2018-2026. Silicon carbide has a level of hardness similar to a diamond, due to which silicon carbide semiconductors are able to operate in extreme conditions.  The primary factor driving the silicon carbide power semiconductor market includes increasing demand of power electronics across various industry verticals including IT & telecom, aerospace & defense, industrial, energy & power, semiconductor & electronics, automotive, healthcare, and some others.

For instance, silicon carbide power semiconductors facilitate in controlling automotive electronics such as electric braking system, power steering, seat control hydro electric vehicles main inverter and others. These devices are also used in energy conversion in actuators and generators assimilated in aircraft. Moreover, silicon carbide is among few compound semiconductors which are being considered to be used in the production of power semiconductors for the 5G communication. Thus, this is expected to create new opportunities for the manufactures of silicon carbide semiconductors. However, high wafer cost of silicon carbide semiconductors and complexity in the manufacturing process are limiting the growth of the global silicon carbide semiconductor market.

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The global silicon carbide power semiconductor market can be segmented on the basis of power module, industry vertical, and geography. By power module, the global silicon carbide power semiconductor market can be segmented into power products and discrete products. The power module is anticipated to hold a larger share during the research study. On the basis of industry vertical, the global silicon carbide power semiconductor market can be categorized into IT & telecom, aerospace and defense, industrial, energy and power, electronics, healthcare, and others.

Among all the industry verticals, the automotive sector is anticipated to dominate the global silicon carbide power semiconductor market during the forecast period. This is mainly due to increasing demand for power electronics in the automotive industry across the world. Furthermore, the geographical segment can be diversified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In terms of region, Europe is expected to be the dominant region over the forecast period from 2018 to 2026 due to the presence of leading players in European countries such as Germany.

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Some of the emerging players operating in the global silicon carbide power semiconductor market include Infineon Technologies AG, Microsemi, GENERAL ELECTRIC, Power Integrations, ON Semiconductor, STMicroelectronics, Tokyo Electron Limited, Renesas Electronics Corporation, TOSHIBA CORPORATION, Cree, Inc. ROHM SEMICONDUCTOR, and NXP Semiconductors among others.