Global Silicon Carbide Semiconductor Devices Market Size, Share & Industry Trends Analysis Report By Product (Power Semiconductors, Optoelectronic Devices and Frequency Devices), By End Use, By Wafer Size, By Component, By Regional Outlook and Forecast,

Global Silicon Carbide Semiconductor Devices Market Size, Share & Industry Trends Analysis Report By Product (Power Semiconductors, Optoelectronic Devices and Frequency Devices), By End Use, By Wafer Size, By Component, By Regional Outlook and Forecast, 2022 - 2028

The Global Silicon Carbide Semiconductor Devices Market size is expected to reach $5.2 billion by 2028, rising at a market growth of 20.3% CAGR during the forecast period.

A semiconductor created by combining silicon with carbon is known as silicon carbide. SiC semiconductors can function in harsh environments owing to their hardness, which is similar to a diamond. Furthermore, silicon carbide has advantages over conventional silicon semiconductors in the market for power semiconductors, including a larger breakdown electric field strength, lower thermal expansion, a wider band gap, and chemical reaction resistance.

In comparison to a silicon power semiconductor, silicon carbide electrons need three times as much energy to go to the conduction band from the conduction band. SiC-based electrical devices can endure higher temperatures and voltages due to this characteristic than their silicon-based counterparts. They also carry a lot more current, nearly five times as much as their silicon equivalents, so they provide lower ON resistance and decrease switching loss, which reduces power loss.

Research projects are focused on using silicon carbide (SiC) semiconductor devices in automobile powertrains. Nevertheless, it has progressively become a practical alternative due to recent improvements. For instance, Tesla's vehicle architectures, which use a speedy charging method, currently use SiC.

Furthermore, governments' continued support of sources of renewable energy and automakers' efforts to lower the cost of manufacturing their vehicles are expected to lead to a rise in the number of hybrid and standard electric vehicles (EVs) on the road. This is made feasible in large part by the ongoing improvements in battery technology driven by consumer demand for safer, lighter, smaller batteries that charge more rapidly and last longer. As a result, silicon carbide semiconductors are ideal for plug-in hybrid (PHEV) and purely electric vehicle applications.

COVID-19 Impact Analysis

The widespread lockdowns and limitations placed on the movement of goods and people that followed the COVID-19 outbreak severely impacted the demand for electronic gadgets, vehicles, and power electronics that employ SiC semiconductor components. In addition, the world economy saw a sharp recession, which impacted consumer purchasing power and borrowing capacity. As a result, the silicon carbide semiconductor devices market was negatively impacted due to the general drop in demand for various technology products. Furthermore, the market was further negatively impacted by the demand-supply gap that resulted from the imbalance between supply and demand for silicon carbide semiconductor devices during the pandemic.

Market Growth Factors

Benefits of the compound or silicon carbide (SiC) semiconductors over silicon-based technology

Power semiconductors made of silicon carbide have better electronic characteristics than silicon semiconductors. They have greater electron mobility and saturation electron velocity. SiC power semiconductors have a broader energy bandgap, which makes them less susceptible to overheating. Additionally, they tend to produce less noise in electronic circuits as compared to silicon devices, which reduces power loss. Compound semiconductors, like SiC power devices, are increasingly used in microwave links, mobile phones, high-frequency radar systems, satellite communications, and other applications due to their improved qualities. The market is growing as a result of silicon carbide-based power semiconductors' superiority over silicon.

Greater adoption of 5g mobile communication technology

The massive reliance on digital infrastructure has fueled high-speed internet research and development. The 5G wireless mobile technology is expected to be rapidly implemented in established and developing countries. It is expected that this wireless standard will provide rapid data transfer speeds of up to 10 Gbps. This infrastructure is forecasted to support the growing use of smart devices and the internet of things, both of which require fast data transfers to operate effectively. Power semiconductors, particularly radio frequency (RF) semiconductors, are required for mobile communications. Therefore, during the projection period, 5G will offer a significant opportunity for the growth of the silicon carbide semiconductor devices market.

Market Restraining Factors

Costly wafers of silicon carbide semiconductors

The high wafer cost is the main barrier to the fabrication of SiC-based power devices. SiC semiconductors are more expensive than semiconductors based on the silicon they are meant to replace. The crucial precursors for manufacturing SiC layers in the chips are high-purity silane (SiH4) and SiC powder. Currently, there are only a few providers of high-purity SiC powder, and it is rather expensive. The production of high-purity SiC materials is limited to a few large, international industrial gas firms, including Washington Mills (United States), Pallidus (United States), Bridgestone (United States), and LGInnotek (Korea). This supports the growth of the regional market.

Component Outlook

Based on component, the silicon carbide semiconductor devices market is categorized into Schottky diodes, FET/MOSFET transistors, integrated circuits, rectifiers/diodes, power modules, and others. The power modules segment garnered the highest revenue share in the silicon carbide semiconductor devices market in 2021. The use of SiC as a switch for power conversion is made possible by silicon carbide power modules, which have numerous uses in the e-mobility, energy, and industrial sectors. They assist in enhancing power consumption effectiveness and lowering operating expenses.

Product Outlook

On the basis of product, the silicon carbide semiconductor devices market is divided into optoelectronic devices, power semiconductors, and frequency devices. The optoelectronic devices segment witnessed a significant revenue share in the silicon carbide semiconductor devices market in 2021. The increasing use of SiC in lighting and high-energy laser applications is responsible for the expansion of optoelectronic devices. SiC is used more frequently in optoelectronic products, including photodetectors, light-Emitting Diodes (LED), telescopes, and solar cells because of its great thermal stability. Numerous companies that make optoelectronic devices are expanding both organically and inorganically.

Wafer Size Outlook

Based on wafer size, the silicon carbide semiconductor devices market is segmented into 1 inch to 4 inches, 6 inches, 8 inches, and 10 inches & above. The 10 inches and above segment procured a remarkable growth rate in the silicon carbide semiconductor devices market in 2021. The commercial manufacture of SiC wafers is responsible for the increased use of the 10 inches and above SiC wafers. These wafers also make it possible to create Gallium Nitride (GaN) products, such as power and light-emitting diodes (LED). Moreover, the silicon carbide layer does not increase the cost of silicon wafers, which also stops silicon from diffusing into GaN.

End User Outlook

On the basis of end user, the silicon carbide semiconductor devices market in fragmented into automotive, consumer electronics, aerospace & defense, medical devices, data & communication devices, energy & power, and others. The aerospace and defense segment witnessed a promising growth rate in the silicon carbide semiconductor devices market in 2021. The segment's growth is attributed to the ability of SiC to offer lighter-weight parts for the aerospace & defense industry that will use less fuel and emit fewer emissions. For a given current and voltage rating, this material enables higher power density and higher switching in a lighter, smaller device.

Regional Outlook

On the basis of region, the silicon carbide semiconductor devices market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed the highest revenue share in the silicon carbide semiconductor devices market in 2021. Leading market players are expected to fuel the market's expansion in the Asia Pacific region. This expansion is further aided by the rising investments in research, development, and production throughout the region. For instance, Toshiba Electronic Components and Storage said it would invest in increasing the capacity of its power component manufacturing capacity. Such measures are strengthening the position of the region in the market.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Toshiba Corporation, Mitsubishi Electric Corporation, STMicroelectronics N.V., ON Semiconductor Corporation, and Infineon Technologies AG are the forerunners in the Silicon Carbide Semiconductor Devices Market. Companies such as Allegro Microsystems, Inc., FUJI ELECTRIC CO., LTD., and ROHM Co., Ltd. are some of the key innovators in Silicon Carbide Semiconductor Devices Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.), Infineon Technologies AG, ROHM Co., Ltd., STMicroelectronics N.V., ON Semiconductor Corporation, FUJI ELECTRIC CO., LTD., TT Electronics plc., Mitsubishi Electric Corporation, Toshiba Corporation, and Wolfspeed, Inc.

Recent Strategies Deployed in Silicon Carbide Semiconductor Devices Market

Partnerships, Collaborations and Agreements:

Jan-2023: Infineon Technologies partnered with Resonac Corporation, a Japan-based chemical manufacturing company. As per the partnership agreement, Infineon would offer Resonac its intellectual property associated with SiC material, and Resonac would provide Infineon with SiC materials. Moreover, this partnership actively complements Infineon's leading position.

Dec-2022: ROHM partnered with BASiC Semiconductor, a China-based manufacturer and developer of advanced semiconductors. The partnership involves jointly developing and offering SiC solutions intended for the energy vehicle market. Moreover, the partnership aligns with ROHM's efforts to achieve a decarbonized society.

Nov-2022: Infineon partnered with Stellantis, a Netherlands-based automaker. The partnership involves reserving chip manufacturing for Stellantis' Tier 1 suppliers. Further, the partnership with an automaker aligns with Infineon's devotion to electromobility.

Oct-2022: Infineon Technologies extended its partnership with VinFast, a Vitenam-based automobile manufacturer. The partnership involves jointly setting up an application competence center intended to advance the development of smart mobility solutions. Additionally, the partnership involves offering technical support and acting as an adviser for selecting semiconductors.

Oct-2022: Wolfspeed partnered with Jaguar Land Rover, a UK-based manufacturer of automobiles. The partnership involves providing Jaguar Land Rover with Silicon Carbide semiconductors.

Jul-2022: Allegro MicroSystems partnered with Mouser Electronics, a distributor of semiconductors and electronic components. Through this partnership agreement, Allegro's products are also available on Mouser's website, thereby expanding Allegro's global footprint.

Jul-2022: Infineon Technologies extended its collaboration with Delta Electronics, a Taiwan-based provider of the industrial power system. The extended collaboration involves providing superior power solutions focused on wide bandgap semiconductors. Moreover, the collaboration provides Delta with many opportunities in the gaming and server domain.

Jul-2022: STMicroelectronics came into agreement with GlobalFoundries, a US-based contract chipmaker. As per the agreement, both companies would together create and operate a 300mm semiconductor manufacturing facility in France. The new facility would enable both companies to leverage economies of scale, and would also support STMicroelectronics' $20 billion+ revenue aim. Moreover, the new facility in France would also enable STMicroelectronics to better cater to the needs of its clients globally, through increased capacity.

Product Launches and Expansions:

Dec-2022: STMicroelectronics introduced new silicon-carbide power modules. The new power modules features less energy consumption, more power density, etc. The new product enables OEMs in the automotive industry to accelerate the electrification of vehicles.

Dec-2020: Fuji Electric launched X Series IGBT-IPM*1, a power semiconductor product. The new product features a 7th-generation X Series device, an IGBT devices overheat protection function, a warning output function, etc.

Acquisition and Mergers:

Sep-2022: Allegro MicroSystems took over Heyday Integrated Circuits, a France-based developer of integrated isolated gate drivers. The acquisition integrates Allegro's isolated current sensors, and Heyday's isolated gate drivers, and further broaden Allegro's market presence in multiple segments including, electric vehicles, data center, solar inverters, etc. Moreover, the acquisition would advance Allegro's efforts to provide an energy-efficient platform.

Nov-2021: onsemi acquired GT Advanced Technologies, a US-based provider of advanced materials and equipment. The addition of GT's competence in developing wafering-ready SiC, and its outstanding technical abilities benefit onsemi's clients and further enable onsemi to deliver end-to-end power solutions. Moreover, the acquisition complements and strengthens onesemi's commitment to making significant investments in high-growth technologies.

Jul-2020: Mitsubishi Electric took over a 46,500-square-meter wafer manufacturing facility from Sharp Fukuyama Semiconductor. With this acquisition, Mitsubishi aims to boost the production of power chips intended for electric vehicles.

Apr-2020: Infineon Technologies acquired Cypress Semiconductor, a US-based developer of semiconductor products. The acquisition is a significant milestone in Infineon's strategic development, and further expands Infineon's market presence. Moreover, this acquisition benefits customers through Infineon's expanded reach and improved design-in support customized as per their needs.

Geographical Expansions:

Aug-2022: onsemi expanded its global footprint by establishing a new silicon carbide (SiC) plant in New Hampshire, United States. The new site would quintuple SiC boule production capacity year-over-year, and also enables onsemi to have complete command over its silicon carbide manufacturing supply chain, which makes onsemi in a better position to fulfill the evolving demands for SiC-based solutions by its clients.

Apr-2022: Wolfspeed expanded its global footprint by setting up a new facility in New York intended for Silicon Carbide fabrication. The setting up of a new facility demonstrates Wolfspeed's devotion to reaching the highest standards for operational excellence, which would result in more output, and thus more products for the customers.

Scope of the Study

Market Segments covered in the Report:

By Product

• Power Semiconductors
• Optoelectronic Devices
• Frequency Devices

By End Use

• Automotive
• Energy & Power
• Aerospace & Defense
• Medical Devices
• Data & Communication Devices
• Consumer Electronics
• Others

By Wafer Size

• 1 inch to 4 inches
• 6 inches
• 8 inches
• 10 inches & above

By Component

• Power Modules
• FET/MOSFET Transistors
• Schottky Diodes
• Integrated Circuits
• Rectifiers/Diodes
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.)
• Infineon Technologies AG
• ROHM Co., Ltd.
• STMicroelectronics N.V.
• ON Semiconductor Corporation
• FUJI ELECTRIC CO., LTD.
• TT Electronics plc.
• Mitsubishi Electric Corporation
• Toshiba Corporation
• Wolfspeed, Inc.

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