Lucintel Expects the Silicone Carbide Market to Reach $3 Billion by 2028

DALLAS, April 25, 2023 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global silicon carbide market looks promising with opportunities in automotive, energy, industrial transportation, telecom and infrastructure, consumer industries. The global silicon carbide market is expected to reach $3 billion by 2028 with a CAGR of 17.8% from 2023 to 2028. The major drivers for this market are strong demand from the steel manufacturing & steel processing industry and rapidly growing demand from the electronics industry.

In this market, SiC discrete devices will remain the largest segment over the forecast period due to increasing demand for SiC discrete device in RF and cellular base station application, power supplies, and inverters.

Within this market, automotive will remain the largest segment by application over the forecast period due to growing due to rising adoption of electric vehicle.

APAC will remain the largest region over the forecast period due to high rate of development in countries, such as Japan and South Korea, and increasing adoption of new technologies of electric vehicles in developing economies.

Emerging trends, which have a direct impact on the dynamics of the industry, include introduction of smartcut SiC technology, growing emergence of larger sized SiC wafers, and growing emergence of polished silicon carbide (SiC) wafer manufacturing. Infineon Technologies, Wolfspeed, Inc., StMicroelectronics N.V, ON Semiconductors, Renesas Electric Corporation, Fiven A/S, ROHM Co., Ltd., Coorstek, Morgan Advanced Materials, and Entegris are among the major players in this market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global silicon carbide market by SiC based devices, application, wafer size, and end use, and region. Lucintel has prepared a comprehensive research report entitled "Silicon Carbide Market: Trends, Opportunities and Competitive Analysis [2023-2028]"

For any questions related to silicon carbide market or related to silicon carbide companies, compound semiconductor market size, silicon carbide market share, silicon carbide market growth or market research, write Lucintel analyst at email: [email protected].

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About Lucintel

Lucintel one of the premier global market research and management consulting firm, offering solutions for your growth through game changer ideas through robust market & unmet need analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years.

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Roy Almaguer
Lucintel, Dallas, Texas, USA
Email: [email protected] 
Tel. 972.636.5056

SOURCE Lucintel

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