Silicon Carbide Market worth 617.4 Million USD by 2022

According to the new market research report "Silicon Carbide Market by Device (MOSFET, Diode, Module, Bare Die), Wafer Size (2 Inch, 4 Inch, 6–Inch and Above), Application (RF Device and Cellular Base Station, Power Supply and Inverter), Vertical, and Geography - Global Forecast to 2022", the silicon carbide (SiC) market size is expected to be valued at USD 617.4 Million by 2022, growing at a CAGR of 17.4% between 2017 and 2022.
The major factors driving this market include 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.

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RF devices and cellular base station application is expected to hold the largest market share in the forecast period
The RF and cellular base station device market is growing because of the increasing LTE network in all the regions. Moreover, APAC and RoW market is expected to provide opportunities to silicon carbide devices as these regions are in a growing phase. In addition, APAC holds dominant share in the RF and cellular base station application market.

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SiC discrete devices to hold the largest market share 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. In SiC discrete devices, SiC diode is expected to hold the largest share, and they are also expected to grow at the moderate CAGR during the forecast period.

APAC is expected to hold the largest market share during the forecast period
APAC held the largest market share in 2016 and to dominate the silicon carbide market with the largest market share in the forecast period. APAC is a major market for RF and cellular base station device application. Also, this region has become a global focal point for large investments and business expansion opportunities. Moreover, development in EV charging and electric vehicles is expected to provide an opportunity to silicon carbide industry in China.

The major players in the market include
Infineon Technologies AG (Germany), CREE Inc. (Wolfspeed) (US), ROHM Semiconductor (Japan), STMicroelectronics N.V. (Switzerland), ON Semiconductor (US), United Silicon Carbide, Inc. (US), General Electric (US), GeneSiC Semiconductor Inc. (US), Fuji Electric Co., Ltd. (Japan), and Renesas Electronics Corporation (Japan).

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