Silicon Carbide Semiconductor Devices Market Key Takeaways
- Asia Pacific dominated the silicon carbide semiconductor devices market in 2024.
- North America is expected to witness the fastest growth in the coming years.
- By component, the power modules segment held the largest market share in 2024.
- By component, the FET/MOSFET transistors segment is projected to grow at the fastest rate during the forecast period.
- By product, the power semiconductors segment contributed the biggest market share in 2024.
- By product, the optoelectronic devices segment is likely to grow at a significant CAGR over the studied period.
- By wafer size, the 1 inch to 4 inches segment captured the highest market in 2024.
- By wafer size, the 10 inches and above segment is expected to expand at the fastest CAGR in the foreseeable period.
- By end-use, the automotive segment generated the major market share in 2024.
- By end-use, the energy and power segment is projected to grow at the highest CAGR in the near future.
Silicon Carbide Semiconductor Devices Market Overview
The industrial and renewable energy segments represent a fast-growing market for Silicon Carbide semiconductor devices. SiC-based components are increasingly used in inverters, power modules, and motor drives across various industrial applications.
In renewable energy systems—particularly solar inverters and wind turbine converters—SiC devices contribute to higher power density, improved efficiency, and better heat management. This market is being shaped by the global transition toward clean energy and industrial automation.
Drivers
A strong driver in this sector is the global shift to renewable energy, with solar and wind installations requiring more efficient and durable power conversion systems. SiC semiconductors allow for more compact and efficient inverter designs, which can handle higher voltages and switching frequencies. In the industrial domain, the push for energy efficiency and digitalization of manufacturing processes fuels the demand for SiC devices in motor drives and smart grid infrastructure.
Opportunities
There is growing interest in developing solid-state transformers and energy storage systems that utilize SiC for fast, reliable power conversion. With governments around the world setting ambitious renewable energy targets, the demand for SiC-based solutions in grid-tied systems and microgrids is poised to expand rapidly. Moreover, the industrial automation boom, including robotics and smart factories, offers long-term potential for SiC adoption.
Challenges
The main challenge lies in the higher initial costs associated with SiC devices, which may deter adoption in cost-sensitive industrial segments. Another issue is the need for robust testing and certification, especially for high-voltage applications in grid-connected systems. Manufacturers must also overcome the technical hurdles in packaging and heat dissipation for industrial-grade applications.
Regional Insights
Europe leads this segment, driven by aggressive climate policies and a strong focus on renewable energy adoption. The Asia-Pacific region, particularly countries like Japan, China, and South Korea, is experiencing strong growth due to industrial modernization and solar expansion. North America is growing steadily, with increased investments in grid infrastructure and energy storage systems.
Recent Developments
Recent advancements include the development of SiC power modules capable of operating at temperatures exceeding those of traditional silicon. Several companies have introduced new generations of SiC-based solar inverters with improved efficiency ratings. In the industrial sector, partnerships between automation firms and semiconductor companies are paving the way for the integration of SiC into high-performance motor control systems.
- In January 2025, Wolfspeed, Inc., a global leader in silicon carbide technology, introduced its new Gen 4 technology platform, which enables design rooted in durability and efficiency, all while reducing system cost and development time. Wolfspeed’s highly flexible Gen 4 MOSFET technology platform supports long-term roadmaps for high-performance, application-optimized products.
- In December 2024, ONSemi agreed to acquire the Silicon Carbide Junction Field-Effect Transistor technology business, including the United Silicon Carbide subsidiary, from Qorvo for USD 115 million in cash. The acquisition will complement ONSemi’s extensive EliteSiC power portfolio and enable the company to address the need for high energy efficiency and power density in the AC-DC stage in power supply units for AI data centers.
Silicon Carbide Semiconductor Devices Market Companies
- ALLEGRO MICROSYSTEMS, INC.
- Infineon Technologies AG
- ROHM Co., Ltd.
- STMicroelectronics N.V.
- ON SEMICONDUCTOR CORPORATION (on semi)
- WOLFSPEED, INC.
- Gene Sic Semiconductor
- TT Electronics plc.
- Mitsubishi Electric Corporation
- Powerex Inc.
- Toshiba Corporation
- FUJI ELECTRIC CO., LTD.
Segments Covered in the Report
By Component
- Schottky Diodes
- FET/MOSFET Transistors
- Integrated Circuits
- Rectifiers/Diodes
- Power Modules
- Others
By Product
- Optoelectronic Devices
- Power Semiconductors
- Frequency Devices
By Wafer Size
- 1 inch to 4 inches
- 6 inches
- 8 inches
- 10 inches & above
By End-use
- Automotive
- Electric Vehicles
- IC Automobiles
- Consumer Electronics
- Aerospace & Defense
- Medical Devices
- Data & Communication Devices
- Energy & Power
- EV Infrastructure
- Power Distribution & Utilities
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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