Silicon Carbide Market by Device, Wafer Size, Application, Vertical, and Region

The silicon carbide bare die segment is expected to grow at a higher CAGR during the forecast period

The market demand for SiC bare die is expected to grow at a higher CAGR during the forecast period. The growth is attributed to the increasing adoption of bare dies as they offer several benefits such as compact size, improved electrical performance, and power management, and assembled to gain high reliability.

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The silicon carbide market for 4 Inch accounted for the largest share of market in 2019

The demand for 4 inch accounted for the largest share of the silicon carbide market in 2019. The growth is attributed to the increasing adoption of 4-inch silicon carbide wafers in numerous devices such as optoelectronics devices, high power devices, high-temperature devices, and high-frequency power devices.

The market for EV motor drives application is expected to grow at the highest CAGR during the forecast period

The demand for EV motor drives application is expected to grow at the highest CAGR during the forecast period. The silicon carbide-based semiconductor devices can be implemented in industrial and commercial motor drives, electro-mechanical computing systems, and high-temperature sensors. Thus, the increasing demand for silicon carbide-based semiconductor devices is expected to fuel the growth of the EV motor drives application at the highest CAGR.

The power electronics sector dominated the silicon carbide market in 2019

In 2019, the power electronics vertical dominated the silicon carbide industry, and the trend is anticipated to continue during the forecast period. The dominance is due to the capability of SiC to reduce energy loss and increase life as well as the efficiency of power devices. Moreover, to satisfy various demands such as charge-time, performance, and range of the electrical vehicle (EV) manufacturers and customers, power electronic devices operating efficiently and effectively at higher temperatures are essential.