Global Silicon Carbide Market is Expected to Reach US $3.07 Billion in 2023 with a CAGR of 25.44% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Silicon Carbide Market (by Product, Device Type and End-Use Industries): Insight, Trends and Forecast (2019-2023)" report has been added to ResearchAndMarkets.com's offering.

The global silicon carbide market is expected to reach US$3.07 billion in 2023, growing at a CAGR of 25.44%, for the duration spanning 2019-2023.

The factors, such as escalating production of automobiles, accelerating demand for consumer electronics, increasing production of smartphones, growing urbanization and rapid expansion of the steel industry are expected to drive the market. However, growth of the market would be challenged by defects in silicon carbide materials, challenges in designing SiC MOSFETs and issues in packaging silicon carbide power devices. A few notable trends include increasing electric vehicle stock, rising demand for EV charging stations and fast growth of chassis, body and safety system.

The global silicon industry is concentrated with radio frequency (RF) devices, used across various end-use industries. RF devices are highly demanded for the production of several wireless gadgets including router, Bluetooth devices, FM radios, wireless talkies, and radars. Moreover, SiC power devices are also occupying the market with a considerable share, owing to the rising demand, particularly from automobiles and E&E industry.

The fastest-growing regional market is China, owing to the expansion of certain end-markets that use silicon carbide materials for various purposes on a large scale. In addition, E&E industry is expanding vividly over years, contributing to SiC market significantly as the demand for SiC power devices is growing for the use in AC and DC high-voltage applications. Owing to such factors, China is likely to maintain a significant position in the global silicon carbide market in coming years.

Key Topics Covered:

1. Overview

1.1 Introduction

1.2 Advantages of Silicon Carbide

1.3 Silicon Carbide Engineering Properties

1.4 Silicon Carbide in End-Use Industry

2. Global Market Analysis

2.1 Global Silicon Carbide Market by Value

2.2 Global Silicon Carbide Market Forecast by Value

2.3 Global Silicon Carbide Market by Product

2.4 Global Silicon Carbide Market by Device Type

2.5 Global Silicon Carbide Market by End-Use Industries

2.6 Global Silicon Carbide Market by Volume

2.7 Global Silicon Carbide Market Forecast by Volume

3. Regional Market Analysis

3.1 China Silicon Carbide Market by Value

3.2 China Silicon Carbide Market Forecast by Value

3.3 China Silicon Carbide Market by End-Use Industries

3.3.1 China E&E Silicon Carbide Market by Value

3.3.2 China E&E Silicon Carbide Market Forecast by Value

3.3.3 China Aerospace Silicon Carbide Market by Value

3.3.4 China Aerospace Silicon Carbide Market Forecast by Value

3.3.5 China Steel Silicon Carbide Market by Value

3.3.6 China Steel Silicon Carbide Market Forecast by Value

3.3.7 China Automotive Silicon Carbide Market by Value

3.3.8 China Automotive Silicon Carbide Market Forecast by Value

3.3.9 China Military & Defense Silicon Carbide Market by Value

3.3.10 China Military & Defense Silicon Carbide Market Forecast by Value

3.3.11 China Healthcare Silicon Carbide Market by Value

3.3.12 China Healthcare Silicon Carbide Market Forecast by Value

4. Market Dynamics

4.1 Growth Drivers

4.1.1 Escalating Production of Automobiles

4.1.2 Accelerating Demand for Consumer Electronics

4.1.3 Increasing Production of Smartphone

4.1.4 Growing Urbanization

4.1.5 Rapid Expansion of steel Industry

4.1.6 Upsurge in Demand of Power Electronic Modules across Various Industry Verticals

4.2 Key Trends and Developments

4.2.1 Increasing Electric Vehicle Stock

4.2.2 Rising Demand for EV Charging Stations

4.2.3 Fast Growth of Chassis, Body & Safety Systems

4.2.4 Advent of 5G Mobile Communication

4.3 Challenges

4.3.1 Defects in Silicon Carbide Materials

4.3.2 Challenges in Designing SiC MOSFETs

4.3.3 Issues in Packaging Silicon Carbide Semiconductor Devices

5. Competitive Landscape

5.1 Global Market

5.1.1 Global Silicon Carbide Device Market Share by Key Players

5.1.2 Key Players - R&D Comparison

5.1.3 Key Players - Revenue Comparison

5.1.4 Key Players - Market Capitalization Comparison

6. Company Profiles

6.1 Saint-Gobain

6.1.1 Business Overview

6.1.2 Financial Overview

6.1.3 Business Strategies

6.2 NXP Semiconductors N.V.

6.3 Infineon Technologies

6.4 Renesas Electronics

6.5 ROHM Semiconductors

6.6 Cree Inc.

For more information about this report visit https://www.researchandmarkets.com/r/18v4oh