According to the recent study the silicon carbide power semiconductor market is projected to reach an estimated $2.4 billion by 2028 from $0.9 billion in 2023, at a CAGR of 22.0% from 2023 to 2028. Growth in this market is primarily driven by growing adoption of SiC semiconductors in power electronics and increasing application in electric vehicle charging infrastructure.

A more than 150 – page report is developed to understand trends, opportunities and forecast in silicon carbide power semiconductor market by component (schottky diodes, FET/MOSFET transistors, and others), product (optoelectronic devices, power semiconductor, and frequency devices), wafer size (2 inches, 4 inches, and 6 inches & above), end use (automotive (electric vehicles and IC automobiles), consumer electronics, aerospace & defense, medical devices, data & communication devices, energy & power, (EV infrastructure and others), and region.

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“4 inches market is expected to remain the largest segment during the forecast period.”

Based on wafer size, the silicon carbide power semiconductor market is segmented into 2 inches, 4 inches, and 6 inches & above. Lucintel forecasts that the 4 inches market is expected to remain the largest segment due to growing application in a wide range of products, such as optoelectronics, high-power devices, high-temperature devices and high-frequency power devices

“Within the silicon carbide power semiconductor market, the automotive segment is expected to remain the largest end use”

Based on end use the automotive segment is expected to witness the highest growth over the forecast period due to increasing penetration of the SiC power semiconductor in plug-in hybrid (PHEV) and all-electric vehicles (xEV).

“Asia pacific will dominate the silicon carbide power semiconductor market in near future”

APAC will remain the largest region due to growing automotive industry, supporting government polices, and the presence of the largest producers and consumers of consumer electronics in the region.

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Major players of silicon carbide power semiconductor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Allegro Microsystems, Infineon Technologies Ag, STMicroelectronics, On Semiconductor Corporation, and WOLFSPEED are among the major silicon carbide power semiconductor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/silicon-carbide-power-semiconductor-market.aspx or helpdesk@lucintel.com