SiC Market Growing at a CAGR of 17.4% During 2017 to 2022

SiC (Silicon Carbide) market size is expected to be $617.4 million growing at CAGR of 17.4% between 2017-2022.EV motor drive applications estimated to grow at the highest rate while SiC discrete is estimated to hold the largest share of market & RoW region is expected to be the fastest-growing market.

The silicon carbide has entered the growth phase and is expected to grow further in the coming years. The market is expected to be worth USD 617.4 million by 2022, at a CAGR of 17.4% between 2017 and 2022. The drivers for this market is the ability of SiC devices in the semiconductor to perform at high temperature and high voltage and power, increasing demand for motor drives, ability to reduce overall system size, and increasing application of SiC in radio frequency (RF) devices and cellular base station. However, SiC devices packaging is acting as a major challenge for silicon carbide market.

Key Target Audience:

- Electronic design automation (EDA) and design tool vendors - Original equipment manufacturers (OEMs) - Integrated device manufacturers (IDMs) - Original design manufacturers (ODMs) - Automotive ODM and OEM technology solution providers - Assembly, testing, and packaging vendors - Technology, service, and solution providers - Intellectual property (IP) core and licensing providers - Suppliers and distributors - Governments and other regulatory bodies - Technology investors - Research institutes and organizations - Market research and consulting firms 

"EV motor drive application for silicon carbide market is estimated to grow at the highest rate"

The market for EV motor drive is expected to grow at the highest CAGR during the forecast period. EV motor drive application is growing because of the increasing silicon carbide devices penetration in electric vehicles, as silicon carbide devices reduce size and weight of the system and overall weight of the vehicle.

Among all the major verticals of the silicon carbide, the power electronics vertical held the largest share of the market in 2016. The main driver for the growth of this market is owing to increasing use of SiC devices in power supply and inverter applications. The silicon carbide discrete device is expected to hold the largest share of the market during the forecast period. This is due to the high demand for SiC discrete devices that can be attributed to the fact that these devices have numerous applications including RF and cellular base station applications as well as in power supply and inverter applications.

"SiC discrete is estimated to hold the largest share of the market during the forecast period"

With the increased demand for high power semiconductors, the load on the power equipment has increased. This has created a need for electronic devices that can operate in a high-temperature and high-voltage environment. Therefore, the SiC discrete device market is expected to grow at a significant CAGR during the forecast period.

The SiC wafer size of 6-inch and above is expected to reach at the highest CAGR between 2017 and 2022. The demand for 6-inch and above SiC wafer is rising as these can facilitate the manufacturing of more number of devices as compared to 2 and 4 inches silicon carbide wafers.

"RoW is expected to be the fastest-growing market for silicon carbide during the forecast period"

The market in RoW is expected to grow at the highest CAGR because of the growing telecom industry in South American countries is leading to the rise in silicon carbide devices in the region. RF devices are also playing a significant role in the growth of the silicon carbide market in the region.