Silicon Carbide Market Size, Share, and Outlook, 2025 Report- By Device (SiC Discrete Device, SiC Module), By Wafer Size (Up to 150 mm, Above 150 mm), By End-User (Automotive, Energy & Power, Industrial, Transportation, Telecommunication, Others), 2018-20

Silicon Carbide Market Outlook

Silicon Carbide Market Size is forecast to reach $13.6 Billion in 2032 from $5.5 Billion in 2025, at an optimistic growth rate of 13.6% from 2025 to 2032. The robust Silicon Carbide Market growth presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Silicon Carbide Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Device (SiC Discrete Device, SiC Module), By Wafer Size (Up to 150 mm, Above 150 mm), By End-User (Automotive, Energy & Power, Industrial, Transportation, Telecommunication, Others). Over 70 tables and charts showcase findings from our latest survey report on Silicon Carbide Markets.

Silicon Carbide Market Insights, 2025: Silicon Carbide – Key Drivers and Opportunities

Silicon carbide (SiC) is a compound made of silicon and carbon, widely used in applications where high thermal conductivity, hardness, and resistance to wear and corrosion are required. SiC is used in a variety of industries, including electronics (especially power devices), automotive, aerospace, and defense.

The primary driver for the silicon carbide market is the growing demand for energy-efficient devices, especially in the power electronics sector. SiC is used in high-voltage, high-temperature applications such as electric vehicle (EV) powertrains, power inverters, and industrial motor drives due to its superior performance compared to traditional silicon. As the shift toward renewable energy and electric vehicles accelerates, the demand for SiC is expected to grow significantly.

Opportunities in the silicon carbide market include the rapid adoption of electric vehicles (EVs), where SiC is used to improve power conversion efficiency and reduce the weight of power modules. The demand for SiC in power electronics is also fueled by the global push for energy-efficient solutions, including in renewable energy sectors such as wind and solar power. Additionally, the development of advanced SiC manufacturing technologies, including improvements in crystal growth and wafer processing, presents opportunities to reduce costs and increase production capacity.

Five Trends that will define global Silicon Carbide Market in 2025 and Beyond

A closer look at the multi-million global market for Silicon Carbide Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Silicon Carbide Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Silicon Carbide Industry?

The Silicon Carbide Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Silicon Carbide Market Segment Insights

The Silicon Carbide Industry presents strong offers across categories. The analytical report offers forecasts of Silicon Carbide Industry performance across segments and countries. Key segments in the industry include- By Device (SiC Discrete Device, SiC Module), By Wafer Size (Up to 150 mm, Above 150 mm), By End-User (Automotive, Energy & Power, Industrial, Transportation, Telecommunication, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Silicon Carbide Market size outlook is provided for 22 countries across these regions.

Silicon Carbide Industry Value Chain

The chapter identifies potential companies and their operations across the global Silicon Carbide Industry ecosystem. It assists decision-makers in evaluating global Silicon Carbide Market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Silicon Carbide Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Silicon Carbide Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Silicon Carbide Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Silicon Carbide Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Silicon Carbide Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Silicon Carbide Market Insights- Executives are most excited about opportunities for the US Silicon Carbide Industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Silicon Carbide Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Silicon Carbide Market.

Latin American Silicon Carbide Market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Silicon Carbide Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Silicon Carbide Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Silicon Carbide Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Silicon Carbide Companies outcompete in 2025 and Beyond?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Coherent Corp, Fuji Electric Co. Ltd, Infineon Technologies AG, Microchip Technology Inc, Mitsubishi Electric Corp, ROHM Co. Ltd, Semiconductor Components Industries LLC, STMicroelectronics N.V., TOSHIBA CORP, WOLFSPEED Inc.

Silicon Carbide Market Scope and Segmentation

By Device

SiC Discrete Device

• SiC MOSFETs
• SiC Diodes

SiC Module

By Wafer Size

Up to 150 mm

Above 150 mm

By End-User

Automotive

Energy & Power

Industrial

Transportation

Telecommunication

Others

Countries Included-

North America- US, Canada, Mexico

Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe

Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC

South and Central America- Brazil, Argentina, Chile, Rest of SCA

Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa

Companies Included in the Silicon Carbide Market Research-

Coherent Corp

Fuji Electric Co. Ltd

Infineon Technologies AG

Microchip Technology Inc

Mitsubishi Electric Corp

ROHM Co. Ltd

Semiconductor Components Industries LLC

STMicroelectronics N.V.

TOSHIBA CORP

WOLFSPEED Inc

Reasons to Buy the report

• Make informed decisions through long and short-term forecasts across 22 countries and segments.
• Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
• Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
• Get an integrated understanding of the entire market ecosystem and companies.
• Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
• Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
• Get free Excel spreadsheet and PPT versions along with the report PDF.