Summary

The global silicon carbide market is expected to grow from USD 899 million in 2021 to USD 2,113 million by 2026; it is expected to grow at a CAGR of 18.7% during 2021–2026. Key factors fueling this market's growth include growing demand for SiC Devices in power electronics; higher mechanical, electrical and thermal properties than regular Silicon; and growing investments by governments, private organizations, research institutes, and manufacturers to increase SiC production. Growing implementation of SiC devices in automotive and power devices applications and increasing demand for hybrid and electric cars create a strong demand for silicon carbide for efficient industrial operations in the midst of COVID-19.
“Automotive vertical to witness the highest CAGR in silicon carbide market during 2021–2026.”
The silicon carbide market for automotive vertical is expected to grow with the highest CAGR during the forecast period. Advancements in EVs/HEVs require progress on the electrification of powertrains, which will boost the demand for silicon carbide devices. The growth is attributed to the increasing investment of business giants such as Tesla, Mercedes-Benz, and Mitsubishi on the manufacturing and development of on-board chargers (OBCs) and inverters for EV and plug-in hybrid EV (PHEV). These SiC devices are light in weight and are available in a compact size, thus increasing efficiency by reducing the charging time of the aforementioned vehicles.
“APAC is expected to hold the largest share of silicon carbide market by 2026.” The silicon carbide market in APAC is expected to grow at the highest CAGR during the forecast period attributed to the increased use of these silicon carbide devices in the automotive, power electronics, energy, and renewable power generation verticals. China, Japan, South Korea, and India are the major markets for EVs/HEVs in APAC. According to IEA outlook 2020 report, China alone accounted for a share of 47% of the global sales of electric buses in 2019, which contributed significantly to the dominance of APAC. Initiatives taken by several governments of countries in APAC to promote the use of these vehicles are expected to further drive the market in the near future. Breakdown of profiles of primary participants: By Company: Tier 1 = 45%, Tier 2 = 30%, and Tier 3 = 25% By Designation: C-level Executives = 30%, Directors = 25%, Managers= 45% By Region: North America = 45%, Europe = 30%, APAC = 20%, and RoW = 5% Major players profiled in this report: Infineon Technologies (Germany)
• Cree, Inc. (US)
• ROHM Co., Ltd. (Japan)
• STMelectronics (Switzerland)
• Fuji Electric (Japan)
• ON Semiconductor (US)
• General Electric (US)
• Toshiba Corporation (Japan)
• Renesas Electronics (Japan)
• Microchip Technology (US)

Research Coverage
This report offers detailed insights into the silicon carbide market, by device type, wafer size, application, vertical, and region. Based on device type, the silicon carbide market has been segmented into SiC discrete devices (SiC diode and SiC MOSFET); SiC Bare Die; and SiC module. By wafer size, the silicon carbide market has been divided into 2-inches, 4-inches, and 6-inches & above. By application, the silicon carbide market has been categorized into power grid devices; flexible AC transmission systems (FACTS); high-voltage direct current systems; power supplies and inverters; RF devices & cellular base stations; lighting control systems; industrial motor drives; flame detectors; EV motor drives; EV charging stations; electronic combat systems; wind turbines; solar power systems; and others (astronomical, pyrometer, nuclear, and atomic sciences applications). Based on vertical, the silicon carbide market has been segmented into energy & power; automotive; renewable power generation; defense; power electronics; telecommunications; and others (space research and nuclear power). The study forecasts the size of the market in 4 regions—North America, Europe, APAC, and RoW.
Reasons to buy the report
The report would help market leaders/new entrants in this market in the following ways:
1. This report segments the silicon carbide market comprehensively and provides the closest approximations of the overall market’s size and its subsegments (across different device types, wafer sizes, applications, verticals, and region).
2. The report would help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem and product launches, acquisitions, and partnerships carried out by major market players.

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Table of Contents

1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION AND SCOPE 28
1.2.1 INCLUSIONS AND EXCLUSIONS 28
1.3 STUDY SCOPE 29
FIGURE 1 SILICON CARBIDE MARKET: SEGMENTATION 29
1.3.1 GEOGRAPHIC SCOPE 29
1.3.2 YEARS CONSIDERED 30
1.4 CURRENCY 30
1.5 VOLUME UNIT CONSIDERED 30
1.6 LIMITATIONS 31
1.7 STAKEHOLDERS 31
1.8 SUMMARY OF CHANGES 31
2 RESEARCH METHODOLOGY 33
2.1 RESEARCH DATA 33
FIGURE 2 SILICON CARBIDE MARKET: RESEARCH DESIGN 33
2.1.1 SECONDARY DATA 34
2.1.1.1 Major secondary sources 34
2.1.1.2 Secondary sources 34
2.1.2 PRIMARY DATA 35
2.1.2.1 Primary interviews with experts 35
2.1.2.2 Key data from primary sources 36
2.1.2.3 Key industry insights 37
2.1.2.4 Breakdown of primaries 37
2.1.3 SECONDARY AND PRIMARY RESEARCH 38
2.2 MARKET SIZE ESTIMATION 38
FIGURE 3 RESEARCH FLOW OF MARKET SIZE ESTIMATION 39
2.2.1 BOTTOM-UP APPROACH 39
2.2.1.1 Estimating market size by bottom-up approach (demand side) 39
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 40
2.2.2 TOP-DOWN APPROACH 40
2.2.2.1 Estimating market size by top-down approach (supply side) 40
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 41
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE)—REVENUE GENERATED FROM SILICON CARBIDE DEVICES 41
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE)—ILLUSTRATION OF REVENUE ESTIMATION FOR ONE OF COMPANIES IN SILICON CARBIDE MARKET 42
2.2.3 MARKET PROJECTIONS 42
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 43
FIGURE 8 DATA TRIANGULATION 43
2.4 RESEARCH ASSUMPTIONS 44
2.4.1 ASSUMPTION FOR STUDY 44
2.5 RISK ASSESSMENT 45
2.5.1 LIMITATIONS AND ASSOCIATED RISKS 45
3 EXECUTIVE SUMMARY 46
FIGURE 9 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY 47
3.1 REALISTIC SCENARIO 48
3.2 OPTIMISTIC SCENARIO 48
3.3 PESSIMISTIC SCENARIO 48
FIGURE 10 SILICON CARBIDE MARKET: GROWTH PROJECTION BY ADOPTING REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS 48
FIGURE 11 SIC DISCRETE DEVICE SEGMENT, BY DEVICE TYPE, TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 49
FIGURE 12 SILICON CARBIDE MARKET, BY WAFER SIZE, 2021 VS. 2026 50
FIGURE 13 SILICON CARBIDE MARKET FOR AUTOMOTIVE SEGMENT TO REGISTER HIGHEST CAGR FROM 2021 TO 2026 50
FIGURE 14 APAC TO EXHIBIT HIGHEST GROWTH RATE DURING FORECAST PERIOD 51
4 PREMIUM INSIGHTS 52
4.1 ATTRACTIVE OPPORTUNITIES IN SILICON CARBIDE MARKET 52
FIGURE 15 GROWING DEMAND FOR ELECTRIC VEHICLES TO BOOST GROWTH OF SILICON CARBIDE MARKET 52
4.2 SILICON CARBIDE MARKET, BY DEVICE TYPE 52
FIGURE 16 SIC BARE DIE DEVICES TO REGISTER HIGHEST CAGR FROM 2021 TO 2026 52
4.3 SILICON CARBIDE MARKET, BY WAFER SIZE 53
FIGURE 17 6-INCHES AND ABOVE WAFER SIZE TO HOLD LARGEST SHARE OF SILICON CARBIDE MARKET BY 2026 53
4.4 SILICON CARBIDE MARKET IN APAC, BY APPLICATION AND COUNTRY 53
FIGURE 18 POWER SUPPLIES & INVERTERS AND CHINA HELD LARGEST MARKET SHARES OF SILICON CARBIDE MARKET IN ASIA PACIFIC IN 2020 53
4.5 SILICON CARBIDE MARKET, BY REGION 54
FIGURE 19 SILICON CARBIDE MARKET IN CHINA TO EXHIBIT HIGHEST CAGR
FROM 2021 TO 2026 54
5 MARKET OVERVIEW 55
5.1 INTRODUCTION 55
5.2 MARKET DYNAMICS 56
FIGURE 20 IMPACT OF DRIVERS AND OPPORTUNITIES ON SILICON CARBIDE MARKET 56
FIGURE 21 IMPACT OF CHALLENGES AND RESTRAINTS ON SILICON CARBIDE MARKET 56
5.2.1 DRIVERS 57
5.2.1.1 Growing demand for SiC devices in power electronics 57
5.2.1.2 Higher mechanical, electrical, and thermal properties than
regular silicon 57
5.2.1.3 Growing investments by governments, private organizations, research institutes, and manufacturers to increase SiC production 58
5.2.2 RESTRAINTS 58
5.2.2.1 High material and fabrication costs of SiC 58
5.2.3 OPPORTUNITIES 58
5.2.3.1 Growing implementation of SiC devices in automotive and power device applications 58
5.2.3.2 Increasing demand for hybrid and electric cars 59
5.2.4 CHALLENGES 60
5.2.4.1 Material defects, design complexities, and packaging issues in
SiC power devices 60
5.2.4.2 Disruptions in supply chain of semiconductor devices due to
COVID-19 60
5.3 VALUE CHAIN ANALYSIS 61
FIGURE 22 VALUE CHAIN ANALYSIS: MOST VALUE IS ADDED BY SIC DEVICE MANUFACTURERS 61
5.4 PORTER’S FIVE FORCES ANALYSIS 62
TABLE 1 IMPACT OF EACH FORCE ON SILICON CARBIDE MARKET 63
5.5 AVERAGE SELLING PRICE ANALYSIS 63
5.6 TRADE ANALYSIS 64
5.6.1 IMPORT SCENARIO FOR PRODUCTS UNDER HS CODE 381800 64
TABLE 2 IMPORT DATA FOR PRODUCTS UNDER HS CODE 381800, BY COUNTRY, 2016–2020 (USD MILLION) 64
5.6.2 EXPORT SCENARIO FOR PRODUCTS UNDER HS CODE 381800 65
TABLE 3 EXPORT DATA FOR PRODUCTS UNDER HS CODE 381800, BY COUNTRY, 2016–2020 (USD MILLION) 65
5.7 REVENUE SHIFT & NEW REVENUE POCKETS FOR SILICON CARBIDE MARKET 66
FIGURE 23 REVENUE SHIFT IN SILICON CARBIDE MARKET 66
5.8 SILICON CARBIDE ECOSYSTEM 67
FIGURE 24 SILICON CARBIDE ECOSYSTEM 67
5.9 CASE STUDY ANALYSIS 68
5.9.1 SIC CASCODE FET DEVICES ARE OFFERED BY UNITEDSIC FOR EFFICIENT SYSTEM 68
5.9.2 SIC FET OFFERED BY UNITEDSIC FOR PROGRAMMABLE DC POWER SUPPLY 68
5.10 PATENT ANALYSIS 68
5.10.1 PATENT REGISTRATIONS, 2018–2020 68
TABLE 4 FEW PATENT REGISTRATIONS, 2018–2020 68
5.10.2 SILICON CARBIDE: PATENT ANALYSIS 69
5.10.2.1 Methodology 69
5.10.2.2 Document type 69
TABLE 5 PATENTS FILED 69
FIGURE 25 PATENTS FILED BETWEEN 2018 AND 2020 69
FIGURE 26 GRANTED PATENT TRENDS, 2016–2020 70
5.10.2.3 Insight 70
5.10.2.4 Infineon Technologies AG 70
TABLE 6 LIST OF PATENTS BY INFINEON TECHNOLOGIES AG (GERMANY) 70
5.11 TECHNOLOGY TRENDS 71
5.11.1 KEY TECHNOLOGY 71
5.11.1.1 GaN-on-SiC 71
5.11.2 ADJACENT TECHNOLOGY 71
5.11.2.1 Gallium Nitride (GaN) 71
5.12 TARIFFS AND REGULATIONS 72
5.12.1 TARIFFS 72
TABLE 7 MFN TARIFFS FOR PRODUCTS CLASSIFIED UNDER HSS CODE 381800 EXPORTED BY JAPAN 72
TABLE 8 MFN TARIFFS FOR PRODUCTS CLASSIFIED UNDER HSS CODE 381800 IMPORTED BY JAPAN 73
5.12.2 NEGATIVE IMPACT OF TARIFFS ON SILICON CARBIDE MARKET 73
5.12.3 POSITIVE IMPACT OF TARIFFS ON SILICON CARBIDE MARKET 73
5.13 GOVERNMENT REGULATIONS AND STANDARDS 74
5.13.1 GOVERNMENT REGULATIONS 74
5.13.2 STANDARDS 75
5.13.2.1 IEC 63068-2: Semiconductor devices - Non-destructive recognition criteria of defects in silicon carbide homoepitaxial wafers for power devices 75
5.13.2.2 ISO 21068-1:2008: Chemical analysis of silicon-carbide-containing raw materials and refractory products — Part 1: General information and sample preparation 75
5.13.2.3 IEC 63229: Semiconductor devices - Classification of defects in gallium nitride epitaxial films on silicon carbide substrates 75
6 DIFFERENT TYPES OF SILICON CARBIDE CRYSTAL STRUCTURES AND SILICON CARBIDE MATERIALS 76
6.1 INTRODUCTION 76
6.2 SILICON CARBIDE CRYSTAL STRUCTURES 76
TABLE 9 COMPARISON BETWEEN SILICON CARBIDE CRYSTAL STRUCTURES 76
6.2.1 ZINC BLENDE (3C-SIC) 76
6.2.2 WURTZITE (4H-SIC) 77
6.2.3 WURTZITE (6H-SIC) 77
6.2.4 RHOMBOHEDRAL (15R-SIC) 77
6.3 SILICON CARBIDE MATERIALS 77
6.3.1 BLACK SIC 77
6.3.2 GREEN SIC 77

7 SILICON CARBIDE MARKET, BY DEVICE TYPE 78
7.1 INTRODUCTION 79
FIGURE 27 SIC BARE DIE MARKET TO GROW AT HIGHEST RATE DURING FORECAST PERIOD 79
TABLE 10 SILICON CARBIDE MARKET, BY DEVICE, 2018–2020 (USD MILLION) 79
TABLE 11 SILICON CARBIDE MARKET, BY DEVICE, 2021–2026 (USD MILLION) 79
TABLE 12 SILICON CARBIDE MARKET, BY DEVICE, 2018–2020 (MILLION UNITS) 80
TABLE 13 SILICON CARBIDE MARKET, BY DEVICE, 2021–2026 (MILLION UNITS) 80
7.2 SILICON DISCRETE DEVICE 81
FIGURE 28 MARKET FOR SIC MOSFET TO GROW AT HIGHER RATE DURING
FORECAST PERIOD 81
TABLE 14 SILICON CARBIDE MARKET FOR SIC DISCRETE DEVICE, BY TYPE,
2018–2020 (USD MILLION) 81
TABLE 15 SILICON CARBIDE MARKET FOR SIC DISCRETE DEVICE, BY TYPE,
2021–2026 (USD MILLION) 81
TABLE 16 SILICON CARBIDE MARKET FOR SIC DISCRETE DEVICE, BY TYPE,
2018–2020 (MILLION UNITS) 82
TABLE 17 SILICON CARBIDE MARKET FOR SIC DISCRETE DEVICE, BY TYPE,
2021–2026 (MILLION UNITS) 82
7.2.1 SILICON DIODE 82
7.2.1.1 Increasing adoption of SiC diodes in commercial products to fuel growth of market segment 82
FIGURE 29 SCHEMATIC REPRESENTATION OF SIC SCHOTTKY DIODE INDICATING THICK AND THIN WAFERS 83
TABLE 18 SILICON CARBIDE MARKET FOR SIC DIODE, BY REGION,
2018–2020 (USD MILLION) 83
TABLE 19 SILICON CARBIDE MARKET FOR SIC DIODE, BY REGION,
2021–2026 (USD MILLION) 83
7.2.2 SILICON MOSFET 84
7.2.2.1 Surging need for SiC MOSFETs in automotive vertical to fuel market growth 84
TABLE 20 SILICON CARBIDE MARKET FOR SIC MOSFET, BY REGION,
2018–2020 (USD MILLION) 84
TABLE 21 SILICON CARBIDE MARKET FOR SIC MOSFET, BY REGION,
2021–2026 (USD MILLION) 84
7.3 SIC BARE DIE 85
7.3.1 GROWING DEMAND FOR ENERGY-EFFICIENT POWER DEVICES TO BOOST SIC BARE DIE MARKET GROWTH 85
TABLE 22 SILICON CARBIDE MARKET FOR SIC BARE DIE, BY DISCRETE DEVICE TYPE, 2018–2020 (USD MILLION) 85
TABLE 23 SILICON CARBIDE MARKET FOR SIC BARE DIE, BY TYPE,
2021–2026 (USD MILLION) 85
TABLE 24 SILICON CARBIDE MARKET FOR SIC BARE DIE, BY DISCRETE DEVICE
TYPE, 2018–2020 (MILLION UNITS) 85
TABLE 25 SILICON CARBIDE MARKET FOR SIC BARE DIE, BY DISCRETE DEVICE
TYPE, 2021–2026 (MILLION UNITS) 86

7.4 SIC MODULE 86
7.4.1 RISING ADOPTION OF SIC POWER SOLUTIONS FOR INDUSTRIAL POWER EQUIPMENT TO BOOST MARKET GROWTH 86
TABLE 26 SILICON CARBIDE MARKET FOR SIC MODULE, BY REGION,
2018–2020 (USD MILLION) 86
TABLE 27 SILICON CARBIDE MARKET FOR SIC MODULE, BY REGION,
2021–2026 (USD MILLION) 86
8 CARBIDE (SIC) WAFER MARKET, BY WAFER SIZE 87
8.1 INTRODUCTION 88
FIGURE 30 6-INCHES & ABOVE SIC WAFERS TO ACCOUNT FOR LARGEST MARKET
SHARE BY 2026 88
TABLE 28 SILICON CARBIDE WAFER MARKET, BY WAFER SIZE,
2018–2020 (USD MILLION) 88
TABLE 29 SILICON CARBIDE WAFER MARKET, BY WAFER SIZE,
2021–2026 (USD MILLION) 88
TABLE 30 SILICON CARBIDE WAFER MARKET, BY WAFER SIZE,
2018–2020 (MILLION UNITS) 89
TABLE 31 SILICON CARBIDE WAFER MARKET, BY WAFER SIZE,
2021–2026 (MILLION UNITS) 89
TABLE 32 SILICON CARBIDE WAFER MARKET, BY WAFER SIZE,
2018–2020 (THOUSAND SQUARE INCHES) 89
TABLE 33 SILICON CARBIDE WAFER MARKET, BY WAFER SIZE,
2021–2026 (THOUSAND SQUARE INCHES) 90
TABLE 34 SILICON CARBIDE WAFER MARKET, BY SIC DEVICE,
2018–2020 (USD MILLION) 90
TABLE 35 SILICON CARBIDE WAFER MARKET, BY SIC DEVICE,
2021–2026 (USD MILLION) 90
TABLE 36 SILICON CARBIDE WAFER MARKET, BY SIC DEVICE,
2018–2020 (MILLION UNITS) 90
TABLE 37 SILICON CARBIDE WAFER MARKET, BY SIC DEVICE,
2021–2026 (MILLION UNITS) 91
TABLE 38 SILICON CARBIDE WAFER MARKET, BY SIC DEVICE,
2018–2020 (THOUSAND SQUARE INCHES) 91
TABLE 39 SILICON CARBIDE WAFER MARKET, BY SIC DEVICE,
2021–2026 (THOUSAND SQUARE INCHES) 91
8.2 2 INCHES 91
8.2.1 2-INCH SILICON CARBIDE WAFERS ARE USED IN LOW-POWER SEMICONDUCTOR DEVICES 91
8.3 4 INCHES 92
8.3.1 4-INCH WAFERS HAVE WITNESSED HIGH ADOPTION FOR APPLICATIONS IN POWER DEVICES, LEDS, AND RF DEVICES 92
8.4 6 INCHES AND ABOVE 92
8.4.1 WAFERS OF THIS SIZE OFFER MANUFACTURERS ABILITY TO INCREASE PRODUCTIVITY 92

9 SILICON CARBIDE MARKET, BY APPLICATION 93
9.1 INTRODUCTION 94
FIGURE 31 MARKET FOR EV MOTOR DRIVES APPLICATION TO GROW AT HIGHEST RATE DURING FORECAST PERIOD 94
TABLE 40 SILICON CARBIDE MARKET, BY APPLICATION, 2018–2020 (USD MILLION) 95
TABLE 41 SILICON CARBIDE MARKET, BY APPLICATION, 2021–2026 (USD MILLION) 95
9.2 POWER GRID DEVICES 96
9.2.1 DEPLOYMENT OF SIC DEVICES FOR EFFICIENT POWER DISTRIBUTION FOR ELECTRIC POWER USAGE TO FUEL MARKET GROWTH 96
TABLE 42 SILICON CARBIDE MARKET FOR POWER GRID DEVICES, BY REGION,
2018–2020 (USD MILLION) 96
TABLE 43 SILICON CARBIDE MARKET FOR POWER GRID DEVICES, BY REGION,
2021–2026 (USD MILLION) 97
TABLE 44 SILICON CARBIDE MARKET FOR POWER GRID DEVICES, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 97
TABLE 45 SILICON CARBIDE MARKET FOR POWER GRID DEVICES, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 97
9.3 FLEXIBLE AC TRANSMISSION SYSTEMS 98
9.3.1 DEMAND FOR SIC DEVCIES IN FACTS FOR REDUCING POWER LOSS TO
FUEL MARKET GROWTH 98
TABLE 46 SILICON CARBIDE MARKET FOR FLEXIBLE AC TRANSMISSION SYSTEMS,
BY REGION, 2018–2020 (USD MILLION) 98
TABLE 47 SILICON CARBIDE MARKET FOR FLEXIBLE AC TRANSMISSION SYSTEMS,
BY REGION, 2021–2026 (USD MILLION) 98
TABLE 48 SILICON CARBIDE MARKET FOR FLEXIBLE AC TRANSMISSION SYSTEMS,
BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 99
TABLE 49 SILICON CARBIDE MARKET FOR FLEXIBLE AC TRANSMISSION SYSTEMS,
BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 99
9.4 HIGH-VOLTAGE DIRECT CURRENT SYSTEMS 99
9.4.1 INCREASING NEED FOR HVDC SYSTEMS PROPELS DEMAND FOR SIC DEVICES 99
TABLE 50 SILICON CARBIDE MARKET FOR HIGH-VOLTAGE DIRECT CURRENT SYSTEMS, BY REGION, 2018–2020 (USD MILLION) 99
TABLE 51 SILICON CARBIDE MARKET FOR HIGH-VOLTAGE DIRECT CURRENT SYSTEMS, BY REGION, 2021–2026 (USD MILLION) 100
TABLE 52 SILICON CARBIDE MARKET FOR HIGH-VOLTAGE DIRECT CURRENT SYSTEMS, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 100
TABLE 53 SILICON CARBIDE MARKET FOR HIGH-VOLTAGE DIRECT CURRENT SYSTEMS, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 100
9.5 POWER SUPPLIES & INVERTERS 101
9.5.1 IMPLEMENTION OF SIC DEVICES IN POWER SUPPLIES FOR IMPROVED POWER EFFICIENCY TO FUEL MARKET GROWTH 101
FIGURE 32 POWER SUPPLIES & INVERTERS APPLICATION MARKET IN APAC TO GROW AT HIGHEST RATE DURING FORECAST PERIOD 101
TABLE 54 SILICON CARBIDE MARKET FOR POWER SUPPLIES & INVERTERS, BY REGION, 2018–2020 (USD MILLION) 102
TABLE 55 SILICON CARBIDE MARKET FOR POWER SUPPLIES & INVERTERS, BY REGION, 2021–2026 (USD MILLION) 102
TABLE 56 SILICON CARBIDE MARKET FOR POWER SUPPLIES & INVERTERS,
BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 102
TABLE 57 SILICON CARBIDE MARKET FOR POWER SUPPLIES & INVERTERS,
BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 102
9.6 RF DEVICES & CELLULAR BASE STATIONS 103
9.6.1 GROWING MOBILE USERS BASE AND INCREASING CELLULAR BASE STATIONS PROPEL SIC MARKET GROWTH 103
TABLE 58 SILICON CARBIDE MARKET FOR RF DEVICES & CELLULAR BASE STATIONS, BY REGION, 2018–2020 (USD MILLION) 103
TABLE 59 SILICON CARBIDE MARKET FOR RF DEVICES & CELLULAR BASE STATIONS, BY REGION, 2021–2026 (USD MILLION) 103
TABLE 60 SILICON CARBIDE MARKET FOR RF DEVICES & CELLULAR BASE STATIONS, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 104
TABLE 61 SILICON CARBIDE MARKET FOR RF DEVICES & CELLULAR BASE STATIONS, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 104
9.7 LIGHTING CONTROL SYSTEMS 104
9.7.1 SIC MATERIAL-BASED DEVCIES ARE SUITABLE FOR DEVELOPING
DURABLE LED 104
TABLE 62 SILICON CARBIDE MARKET FOR LIGHTING CONTROL SYSTEMS, BY REGION, 2018–2020 (USD MILLION) 105
TABLE 63 SILICON CARBIDE MARKET FOR LIGHTING CONTROL SYSTEMS, BY REGION, 2021–2026 (USD MILLION) 105
TABLE 64 SILICON CARBIDE MARKET FOR LIGHTING CONTROL SYSTEMS,
BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 105
TABLE 65 SILICON CARBIDE MARKET FOR LIGHTING CONTROL SYSTEMS,
BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 105
9.8 INDUSTRIAL MOTOR DRIVES 106
9.8.1 INCREASING USE OF SIC MODULES IN INDUSTRIAL MOTORS TO
FUEL MARKET GROWTH 106
TABLE 66 SILICON CARBIDE MARKET FOR INDUSTRIAL MOTOR DRIVES, BY REGION, 2018–2020 (USD MILLION) 106
TABLE 67 SILICON CARBIDE MARKET FOR INDUSTRIAL MOTOR DRIVES, BY REGION, 2021–2026 (USD MILLION) 106
TABLE 68 SILICON CARBIDE MARKET FOR INDUSTRIAL MOTOR DRIVES,
BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 106
TABLE 69 SILICON CARBIDE MARKET FOR INDUSTRIAL MOTOR DRIVES,
BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 107
9.9 FLAME DETECTORS 107
9.9.1 SURGING DEMAND FOR FLAME DETECTORS FOR HUMAN SAFETY TO FUEL MARKET GROWTH 107
TABLE 70 SILICON CARBIDE MARKET FOR FLAME DETECTORS, BY REGION,
2018–2020 (USD MILLION) 107
TABLE 71 SILICON CARBIDE MARKET FOR FLAME DETECTORS, BY REGION,
2021–2026 (USD MILLION) 108

9.10 EV MOTOR DRIVES 108
9.10.1 RISING DEMAND FOR SIC-BASED DEVICES IN EV MOTOR DRIVES TO PROPEL MARKET GROWTH 108
FIGURE 33 EV MOTOR DRIVES APPLICATION MARKET FOR SIC DIODES TO GROW AT HIGHER RATE DURING FORECAST PERIOD 108
TABLE 72 SILICON CARBIDE MARKET FOR EV MOTOR DRIVES, BY REGION,
2018–2020 (USD MILLION) 109
TABLE 73 SILICON CARBIDE MARKET FOR EV MOTOR DRIVES, BY REGION,
2021–2026 (USD MILLION) 109
TABLE 74 SILICON CARBIDE MARKET FOR EV MOTOR DRIVES, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 109
TABLE 75 SILICON CARBIDE MARKET FOR EV MOTOR DRIVES, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 110
9.11 EV CHARGING STATIONS 110
9.11.1 GROWING PRODUCTION OF ELECTRIC VEHICLES TO FUEL SIC
MARKET GROWTH 110
TABLE 76 SILICON CARBIDE MARKET FOR EV CHARGING STATIONS, BY REGION, 2018–2020 (USD MILLION) 110
TABLE 77 SILICON CARBIDE MARKET FOR EV CHARGING STATIONS, BY REGION, 2021–2026 (USD MILLION) 111
TABLE 78 SILICON CARBIDE MARKET FOR EV CHARGING STATIONS, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 111
TABLE 79 SILICON CARBIDE MARKET FOR EV CHARGING STATIONS, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 111
9.12 ELECTRONIC COMBAT SYSTEMS 112
9.12.1 CAPABILITY TO OPERATE AT HIGH TEMPERATURE WITH HIGH SWITCHING FREQUENCY PROPELS DEMAND FOR SILICON CARBIDE 112
TABLE 80 SILICON CARBIDE MARKET FOR ELECTRONIC COMBAT SYSTEMS, BY REGION, 2018–2020 (USD MILLION) 112
TABLE 81 SILICON CARBIDE MARKET FOR ELECTRONIC COMBAT SYSTEMS, BY REGION, 2021–2026 (USD MILLION) 112
9.13 WIND TURBINES 113
9.13.1 REDUCTION OF ENERGY LOSS AND COST BY INSTALLING SIC DEVICES IS EXPECTED TO FUEL MARKET GROWTH 113
TABLE 82 SILICON CARBIDE MARKET FOR WIND TURBINES, BY REGION,
2018–2020 (USD MILLION) 113
TABLE 83 SILICON CARBIDE MARKET FOR WIND TURBINES, BY REGION,
2021–2026 (USD MILLION) 113
TABLE 84 SILICON CARBIDE MARKET FOR WIND TURBINES, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 114
TABLE 85 SILICON CARBIDE MARKET FOR WIND TURBINES, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 114
9.14 SOLAR POWER SYSTEMS 114
9.14.1 RISING DEMAND FOR SIC DEVICES IN SOLAR POWER SYSTEMS TO FUEL MARKET GROWTH 114
TABLE 86 SILICON CARBIDE MARKET FOR SOLAR POWER SYSTEMS, BY REGION, 2018–2020 (USD MILLION) 114
TABLE 87 SILICON CARBIDE MARKET FOR SOLAR POWER SYSTEMS, BY REGION, 2021–2026 (USD MILLION) 115
TABLE 88 SILICON CARBIDE MARKET FOR SOLAR POWER SYSTEMS, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 115
TABLE 89 SILICON CARBIDE MARKET FOR SOLAR POWER SYSTEMS, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 115
9.15 OTHERS 116
TABLE 90 SILICON CARBIDE MARKET FOR OTHER APPLICATIONS, BY REGION,
2018–2020 (USD MILLION) 116
TABLE 91 SILICON CARBIDE MARKET FOR OTHER APPLICATIONS, BY REGION,
2021–2026 (USD MILLION) 116
TABLE 92 SILICON CARBIDE MARKET FOR OTHER APPLICATIONS, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 116
TABLE 93 SILICON CARBIDE MARKET FOR OTHER APPLICATIONS, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 117
10 SILICON CARBIDE MARKET, BY VERTICAL 118
10.1 INTRODUCTION 119
FIGURE 34 POWER ELECTRONICS VERTICAL TO ACCOUNT FOR LARGEST MARKET
SHARE BY 2026 119
TABLE 94 SILICON CARBIDE MARKET, BY VERTICAL, 2018–2020 (USD MILLION) 119
TABLE 95 SILICON CARBIDE MARKET, BY VERTICAL, 2021–2026 (USD MILLION) 120
TABLE 96 SILICON CARBIDE MARKET, BY VERTICAL, 2018–2020 (MILLION UNITS) 120
TABLE 97 SILICON CARBIDE MARKET, BY VERTICAL, 2021–2026 (MILLION UNITS) 121
10.2 ENERGY & POWER 121
10.2.1 ADOPTION OF SILICON CARBIDE DEVICES IN ENERGY & POWER VERTICAL
TO BOOST MARKET GROWTH 121
10.3 AUTOMOTIVE 121
10.3.1 ACCELERATING GLOBAL ADOPTION OF ELECTRIC VEHICLES TO PROPEL GROWTH OF SILICON CARBIDE MARKET 121
10.4 RENEWABLE POWER GENERATION 122
10.4.1 INCREASING NUMBER OF SOLAR POWER PLANTS TO CREATE IMMENSE GROWTH OPPORTUNITIES FOR SILICON CARBIDE MARKET 122
10.5 DEFENSE 123
10.5.1 ROUGHNESS AND ABILITY TO OPERATE IN HARSH ENVIRONMENTS TO BOOST MARKET GROWTH 123
10.6 POWER ELECTRONICS 123
10.6.1 SURGING DEMAND FOR COMPACT-SIZED, LOW-COST, AND HIGHLY EFFICIENT SOLUTIONS TO DRIVE GROWTH OF MARKET 123
10.7 TELECOMMUNICATIONS 124
10.7.1 DEPLOYMENT OF SIC POWER DEVICES FOR IMPROVED COMMUNICATION INFRASTRUCTURE PERFORMANCE TO CREATE LUCRATIVE OPPORTUNITIES FOR SILICON CARBIDE MARKET 124
10.8 OTHERS 124

11 GEOGRAPHIC ANALYSIS 125
11.1 INTRODUCTION 126
FIGURE 35 GEOGRAPHIC SNAPSHOT: APAC TO WITNESS HIGHEST GROWTH
FROM 2021 TO 2026 127
FIGURE 36 APAC TO DOMINATE SILICON CARBIDE MARKET DURING FORECAST PERIOD 127
TABLE 98 SILICON CARBIDE MARKET, BY REGION, 2018–2020 (USD MILLION) 128
TABLE 99 SILICON CARBIDE MARKET, BY REGION, 2021–2026 (USD MILLION) 128
TABLE 100 SILICON CARBIDE MARKET, BY REGION, 2018–2020 (MILLION UNITS) 129
TABLE 101 SILICON CARBIDE MARKET, BY REGION, 2021–2026 (MILLION UNITS) 129
11.2 NORTH AMERICA 129
FIGURE 37 NORTH AMERICA: SILICON CARBIDE MARKET SNAPSHOT 130
TABLE 102 SILICON CARBIDE MARKET IN NORTH AMERICA, BY APPLICATION,
2018–2020 (USD MILLION) 131
TABLE 103 SILICON CARBIDE MARKET IN NORTH AMERICA, BY APPLICATION,
2021–2026 (USD MILLION) 132
TABLE 104 SILICON CARBIDE MARKET IN NORTH AMERICA, BY SIC DISCRETE DEVICE, 2018–2020 (USD MILLION) 132
TABLE 105 SILICON CARBIDE MARKET IN NORTH AMERICA, BY SIC DISCRETE DEVICE, 2021–2026 (USD MILLION) 133
TABLE 106 SILICON CARBIDE MARKET IN NORTH AMERICA, BY COUNTRY,
2018–2020 (USD MILLION) 133
TABLE 107 SILICON CARBIDE MARKET IN NORTH AMERICA, BY COUNTRY,
2021–2026 (USD MILLION) 133
11.2.1 US 134
11.2.1.1 US to be largest market for silicon carbide devices during
forecast period 134
11.2.2 CANADA 134
11.2.2.1 Increasing demand from automotive, industrial, and power electronics segments to boost growth of Canadian market 134
11.2.3 MEXICO 135
11.2.3.1 Growing industrialization in Mexico to propel growth of silicon carbide market 135
11.3 EUROPE 135
FIGURE 38 EUROPE: SILICON CARBIDE MARKET SNAPSHOT 136
TABLE 108 SILICON CARBIDE MARKET IN EUROPE, BY APPLICATION,
2018–2020 (USD MILLION) 137
TABLE 109 SILICON CARBIDE MARKET IN EUROPE, BY APPLICATION,
2021–2026 (USD MILLION) 137
TABLE 110 SILICON CARBIDE MARKET IN EUROPE, BY SIC DISCRETE DEVICE,
2018–2020 (USD MILLION) 138
TABLE 111 SILICON CARBIDE MARKET IN EUROPE, BY SIC DISCRETE DEVICE,
2021–2026 (USD MILLION) 138
TABLE 112 SILICON CARBIDE MARKET IN EUROPE, BY COUNTRY,
2018–2020 (USD MILLION) 138
TABLE 113 SILICON CARBIDE MARKET IN EUROPE, BY COUNTRY,
2021–2026 (USD MILLION) 138
11.3.1 GERMANY 139
11.3.1.1 Germany to dominate European silicon carbide market during forecast period 139
11.3.2 UK 140
11.3.2.1 Growing demand for wind turbines to fuel market growth during forecast period 140
11.3.3 ITALY 140
11.3.3.1 Rising use of silicon carbide devices in automotive and aerospace industries to boost market growth 140
11.3.4 REST OF EUROPE 141
11.4 ASIA PACIFIC 141
FIGURE 39 APAC: SILICON CARBIDE MARKET SNAPSHOT 142
TABLE 114 SILICON CARBIDE MARKET IN APAC, BY APPLICATION,
2018–2020 (USD MILLION) 143
TABLE 115 SILICON CARBIDE MARKET IN APAC, BY APPLICATION,
2021–2026 (USD MILLION) 143
TABLE 116 SILICON CARBIDE MARKET IN APAC, BY SIC DISCRETE DEVICE,
2018–2020 (USD MILLION) 144
TABLE 117 SILICON CARBIDE MARKET IN APAC, BY SIC DISCRETE DEVICE,
2021–2026 (USD MILLION) 144
TABLE 118 SILICON CARBIDE MARKET IN APAC, BY COUNTRY,
2018–2020 (USD MILLION) 144
TABLE 119 SILICON CARBIDE MARKET IN APAC, BY COUNTRY,
2021–2026 (USD MILLION) 144
11.4.1 CHINA 145
11.4.1.1 Developing economy and mass production of electric vehicles to boost market growth in China 145
11.4.2 JAPAN 145
11.4.2.1 Presence of major players and ongoing HVDC projects to increase demand for silicon carbide devices in Japan 145
11.4.3 SOUTH KOREA 146
11.4.3.1 Consumer electronics and automobile manufacturing companies are playing vital role in growth of market 146
11.4.4 REST OF APAC 146
11.5 REST OF THE WORLD 147
TABLE 120 SILICON CARBIDE MARKET IN ROW, BY APPLICATION,
2018–2020 (USD MILLION) 147
TABLE 121 SILICON CARBIDE MARKET IN ROW, BY APPLICATION,
2021–2026 (USD MILLION) 148
TABLE 122 SILICON CARBIDE MARKET IN ROW, BY SIC DISCRETE DEVICE,
2018–2020 (USD MILLION) 148
TABLE 123 SILICON CARBIDE MARKET IN ROW, BY SIC DISCRETE DEVICE,
2021–2026 (USD MILLION) 148
TABLE 124 SILICON CARBIDE MARKET IN ROW, BY REGION, 2018–2020 (USD MILLION) 149
TABLE 125 SILICON CARBIDE MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION) 149

11.5.1 MIDDLE EAST & AFRICA 149
11.5.1.1 Increasing demand for SiC devices attributed to growing renewable energy production to boost market growth 149
11.5.2 SOUTH AMERICA 150
11.5.2.1 Implementation of SiC in large number of wind farms to drive
market growth 150
12 COMPETITIVE LANDSCAPE 151
12.1 INTRODUCTION 151
12.2 MARKET EVALUATION FRAMEWORK 151
TABLE 126 OVERVIEW OF STRATEGIES DEPLOYED BY KEY SILICON CARBIDE OEMS 151
12.2.1 PRODUCT PORTFOLIO 152
12.2.2 REGIONAL FOCUS 152
12.2.3 MANUFACTURING FOOTPRINT 152
12.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES 152
12.3 MARKET SHARE ANALYSIS, 2020 152
TABLE 127 DEGREE OF COMPETITION 153
12.4 REVENUE ANALYSIS OF TOP MARKET PLAYERS IN SILICON CARBIDE MARKET 154
FIGURE 40 FIVE-YEAR REVENUE ANALYSIS OF TOP MARKET PLAYERS IN SILICON CARBIDE MARKET 154
12.5 COMPANY EVALUATION MATRIX 155
12.5.1 STAR 155
12.5.2 PERVASIVE 155
12.5.3 EMERGING LEADER 155
12.5.4 PARTICIPANT 156
FIGURE 41 SILICON CARBIDE MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2020 156
12.6 START-UP/SME EVALUATION MATRIX 157
12.6.1 PROGRESSIVE COMPANIES 158
12.6.2 RESPONSIVE COMPANIES 158
12.6.3 DYNAMIC COMPANIES 158
12.6.4 STARTING BLOCKS 158
FIGURE 42 SILICON CARBIDE MARKET (GLOBAL), STARTUP/SME EVALUATION
MATRIX, 2020 159
12.7 COMPANY PRODUCT FOOTPRINT 160
TABLE 128 COMPANY PRODUCT FOOTPRINT 160
TABLE 129 FOOTPRINT OF DIFFERENT SIC DEVICES OFFERED BY DIFFERENT COMPANIES 161
TABLE 130 FOOTPRINT OF DIFFERENT VERTICALS DEAL BY DIFFERENT COMPANIES 162
TABLE 131 REGIONAL FOOTPRINT OF DIFFERENT COMPANIES 163
12.8 COMPETITIVE SITUATIONS & TRENDS 164
FIGURE 43 STRATEGIES ADOPTED BY KEY PLAYERS FROM JANUARY 2018 TO MAY 2021 164
12.8.1 PRODUCT LAUNCHES & DEVELOPMENTS 165
TABLE 132 PRODUCT LAUNCHES & DEVELOPMENTS (2018–2021) 165

12.8.2 DEALS 173
TABLE 133 DEALS (JANUARY 2018–MAY 2021) 173
12.8.3 OTHERS 176
TABLE 134 OTHERS (2018–2021) 176
13 COMPANY PROFILES 177
(Business overview, Products/solutions offered, Recent Developments, COVID-19-related developments, MNM view)*
13.1 KEY PLAYERS 177
13.1.1 INFINEON TECHNOLOGIES AG 177
TABLE 135 INFINEON TECHNOLOGIES AG: BUSINESS OVERVIEW 177
FIGURE 44 INFINEON TECHNOLOGIES AG: COMPANY SNAPSHOT 178
13.1.2 CREE, INC. 185
TABLE 136 CREE, INC.: BUSINESS OVERVIEW 185
FIGURE 45 CREE, INC.: COMPANY SNAPSHOT 186
13.1.3 ROHM CO. LTD. 190
TABLE 137 ROHM CO. LTD.: BUSINESS OVERVIEW 190
FIGURE 46 ROHM CO. LTD.: COMPANY SNAPSHOT 191
13.1.4 STMICROELECTRONICS N.V. 195
TABLE 138 STMICROELECTRONICS N.V.: BUSINESS OVERVIEW 195
FIGURE 47 STMICROELECTRONICS N.V.: COMPANY SNAPSHOT 196
13.1.5 FUJI ELECTRIC CO., LTD. 199
TABLE 139 FUJI ELECTRIC CO., LTD.: BUSINESS OVERVIEW 199
FIGURE 48 FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT 200
13.1.6 ON SEMICONDUCTOR 203
TABLE 140 ON SEMICONDUCTOR: BUSINESS OVERVIEW 203
FIGURE 49 ON SEMICONDUCTOR: COMPANY SNAPSHOT 204
13.1.7 GENERAL ELECTRIC COMPANY 207
TABLE 141 GENERAL ELECTRIC: BUSINESS OVERVIEW 207
FIGURE 50 GENERAL ELECTRIC: COMPANY SNAPSHOT 208
13.1.8 TOSHIBA CORPORATION 211
TABLE 142 TOSHIBA CORPORATION: BUSINESS OVERVIEW 211
FIGURE 51 TOSHIBA CORPORATION: COMPANY SNAPSHOT 212
13.1.9 RENESAS ELECTRONICS CORPORATION 215
TABLE 143 RENESAS ELECTRONICS CORPORATION: BUSINESS OVERVIEW 215
FIGURE 52 RENESAS ELECTRONICS CORPORATION: COMPANY SNAPSHOT 216
13.1.10 MICROCHIP TECHNOLOGY INCORPORATED 217
TABLE 144 MICROCHIP TECHNOLOGY INCORPORATED: BUSINESS OVERVIEW 217
FIGURE 53 MICROCHIP TECHNOLOGY INCORPORATED: COMPANY SNAPSHOT 218

13.2 RIGHT TO WIN 221
13.3 OTHER COMPANIES 222
13.3.1 UNITEDSIC 222
13.3.2 SEMIKRON 223
13.3.3 GENESIC SEMICONDUCTOR INC. 224
13.3.4 POWEREX INC. 224
13.3.5 HITACHI LTD. 225
13.3.6 TT ELECTRONICS 226
13.3.7 LITTLEFUSE INC. 227
13.3.8 BRUCKEWELL TECHNOLOGY LTD. 228
13.3.9 SEMIQ, INC. 229
13.3.10 MITSUBISHI ELECTRIC CORPORATION 230
13.3.11 ALPHA POWER SOLUTIONS LTD. (APS) 231
13.3.12 WEEN SEMICONDUCTORS CO., LTD. 232
13.3.13 MICROSEMI CORPORATION 233
13.3.14 II-VI INCORPORATED 234
13.3.15 TANKEBLUE SEMICONDUCTORS CO. LTD. 235
14 APPENDIX 236
14.1 DISCUSSION GUIDE 236
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 240
14.3 AVAILABLE CUSTOMIZATIONS 242
14.4 RELATED REPORTS 242
14.5 AUTHOR DETAILS 243