Wilmington, Delaware, United States, June 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global silicon carbide MOSFETs market was valued at US$ 1.4 Bn in 2022. It is projected to advance at a CAGR of 29.8% from 2023 to 2031.
Surge in usage of SiC power devices in industrial equipment in power supply applications and high-efficiency power conditioners as inverters, especially 600V-900V SiC MOSFETs, is strengthening market growth.
Rapid increase in utilization of silicon carbide MOSFETs in development of highly efficient and compact medium-voltage power conversion systems is augmenting market growth. End-use industries are replacing silicon insulated gate bipolar transistors with silicon carbide (SiC) technologies due to significant switching performance (high frequency operation), which is expected to bolster market size.
An instance is the increasing market trend of replacement of Si-based IGBTs (insulated gate bipolar transistors) with SiC MOSFETs in several traction inverter applications. Key advantages of SiC MOSFETs over IGBTs are high withstand voltage, reduced switching losses, and high-speed switching,
Wide bandgap materials (WBG), such as SiC, are suitable for meeting rigorous performance characteristics of automotive and industrial applications. Consistent advancements in packaging technologies for SiC MOSFETs are broadening market outlook. Rise in usage of SiC MOSFETs in DC microgrid applications is anticipated to offer significant revenue opportunities to companies operating in the market.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.4 Bn | |
| Estimated Value | US$ 13.5 Bn | |
| Growth Rate - CAGR | 29.8% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 167 Pages | |
| Market Segmentation | Breakdown Voltage, Application, End-use Industry | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Diodes Incorporated, GeneSiC Semiconductor Inc., Infineon Technologies AG, Littelfuse, Inc., Microchip Technology Inc., ROHM CO., LTD., Sansha Electric Manufacturing Co., Ltd., Semiconductor Components Industries, LLC, SemiQ, Inc., STMicroelectronics N.V., Toshiba Electronic Devices & Storage Corporation, WOLFSPEED, INC. | |
Key Findings of Study
- Considerable Demand 1200 V– 1700 V Breakdown Voltage SiC MOSFETs: Based on breakdown voltage, the 1200 V – 1700 V segment accounted for a leading market share in 2022. The segment is anticipated to expand at a CAGR of 31.1% from 2023 to 2031.
- Significant utilization of SiC MOSFETs in this breakdown voltage in HVAC power supply, industrial motor drives, and on-board chargers is expected to propel the market.
- Rise in Utilization of SiC MOSFETs in Inverters Used in Multiple Applications: Significant adoption of SiC carbide MOSFETs in medium-voltage high-power systems is anticipated to fuel market growth. Surge in demand for semiconductor materials for rail traction and industrial motor drives presents significant business opportunities for companies in the market.
- Rapid increase in utilization of SiC MOSFETs in traction inverters, DC-DC inverters, and on board chargers (OBCs) is anticipated to augment market size. Rise in demand for advanced SiC power modules in electric vehicle designs is expected to fuel market development. Key advantages of using SiC semiconductor material are extended vehicle range, faster recharging, and faster cooling of the vehicle.
- The inverter application segment is anticipated to expand at a rapid pace in the near future. Considerable adoption of SiC MOSFETs in solar inverters, utility-scale string inverters, and central inverters is likely to boost market.
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Key Growth Drivers: Silicon Carbide MOSFETs Market
- Considerable demand for next-generation power semiconductor devices is a key factor driving preference for silicon carbide (SiC) over silicon MOSFETs in electronic circuit designs. Need for enhancing the performance MOSETs in amplifier and switching applications in a wide range of power devices is anticipated to accelerate market evolution. Higher blocking voltage, higher thermal conductivity, and low on-state resistance are the key benefits of SiC MOSFETs over their silicon counterparts.
- Surge in demand for electric vehicles is a key factor fueling market development. Rapid increase in adoption of SiC MOSFETs in automotive applications is a significant driver of the silicon carbide (SiC) MOSFETs industry.
- Rapid expansion of the renewable energy, especially rise in installation of solar PV arrays, is expected to drive market in the near future.
Regional Growth Dynamics
Asia Pacific accounted for the leading global market share of 33.2% in 2022. Rise in demand for SiC MOSFETs in electric vehicle design, due to extensive government support for the commercialization of hybrid electric vehicles (EVs) and fully battery-operated vehicles, is anticipated to propel the market in the region. Widespread demand for SiC MOSFETs in solar PV and EVs is likely to fuel market expansion in the region in the next few years.
North America is a lucrative market for silicon carbide MOSFETs. Surge in installation of solar PV modules in residential, commercial, and industrial applications is anticipated to propel the silicon carbide MOSFETs industry in the region in the next few years.
Competition Landscape
The business landscape is fragmented, with several vendors accounting for a major share in the market.
Key players operating in the market are
- Diodes Incorporated
- GeneSiC Semiconductor Inc.
- Infineon Technologies AG
- Microchip Technology Inc.
- ROHM CO. LTD.
- Sansha Electric Manufacturing Co., Ltd.
- SemiQ Inc.
- WOLFSPEED Inc.
- STMicroelectronics N.V.
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Silicon Carbide MOSFETs Market Segmentation
The silicon carbide MOSFETs market is segmented based on
Breakdown Voltage
- 650 V– 900 V
- 900 V – 1200 V
- 1200 V – 1700 V
- Above 1700 V
Application
- Inverters
- On Board Charger (OBC)
- Uninterruptible Power Supply (UPS)
- Motor Drives
- Energy Storage Systems
- Others (DC – DC Converter, Server, Switch Mode Power Supply,etc.)
End-use Industry
- Automotive
- Energy & Power
- Industrial
- Consumer Electronics
- Others (Telecommunication, Healthcare, etc.)Region
- North America
- Europe
- Middle East & Africa
- South America
- Asia Pacific
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