What is Sillicon Carbide Market Scope?
The growing steel industry is anticipated to drive the growth as the silicon carbide (SiC) is used as a deoxidizing agent in the steel industry and is a major raw material in refractories production. Silicon carbide acts as a steel production deoxidizing agent. To generate huge amounts of hot steel together with steel scrap, it is primarily dissolved in an oxygen furnace. Various factors such as the surge in demand for motor drives, compact system size, and the increase in utility of silicon carbide in the cellular base station and radiofrequency devices are some factors, which is driving the growth of the silicon carbide market during the forecast period.
The Sillicon Carbide market study is being classified, by Application (Power Grid Devices, Flexible AC Transmission Systems (FACTs), High-Voltage, Direct Current Systems (HVCDs), Power Supplies and Inverters, RF Devices & Cellular Base Stations, Lighting Control Systems, Industrial Motor Drives, Flame Detectors, EV Motor Drives, EV Charging Stations, Electronic Combat Systems, Wind Turbine, Solar Power Systems and Others) and major geographies with country level break-up. According to AMA, the Global Sillicon Carbide market is expected to see growth rate of 16.1% and may see market size of USD2.52 Billion by 2025.
Global silicon carbide market (SiC) is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of silicon carbide market (SiC) for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Sillicon Carbide market throughout the predicted period.
CREE Incorporated (United States), Fairchild Semiconductor International Inc. (United States), Genesic Semiconductor Inc.(United States), Infineon Technologies AG (Germany), Microsemi Corporation (United States), Norstel AB (Sweden), Renesas Electronics Corporation (Japan), ROHM Co. Ltd. (Japan), STMicroelectronics N.V (Switzerland) and Toshiba Corporation (Japan) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Sillicon Carbide market by Type, Application and Region.
On the basis of geography, the market of Sillicon Carbide has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
In May 2019, OpenGate Capital has completely acquired the silicon-carbon division from Saint-Gobain. This firm will be renamed as Fiven A/S. This purchase will help in the company’s expansion and will increase revenue.
In January 2019, Cree, Inc. has partnered with STMicroelectronics and signed a silicon carbide wafer supply agreement. This collaboration involves the supply of Cree’s epitaxial wafers and advanced 150mm silicon carbide bare to STMicroelectronics. This collaboration will help to grow the SiC business.
Influencing Market Trend
- Increasing Government, Private Organizations, Research Institutes, and Industry Players Investments to Increase SiC Production
- Growing Demand for SiC Devices in Power Electronics Industry
- SiC-Based Devices Facilitate Size-Reduction
- Rising Demand for Electric Vehicle (EV) Motors
- Growing Demand From Automotive and Power Devices Industries
- High Material and Fabrication Cost
- SiC Power Devices Material Defects, Designing, and Packaging Issues
Key Target AudienceGovernment Regulatory Bodies, Regulatory Bodies, Private Research Organization and Others
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