Silicon Carbide Market 2021 Key Players, SWOT Analysis, Key Indicators, Forecast and COVID-19 Impact Analysis 2030

In a recent published report, Kenneth Research has updated the market report for Silicon Carbide Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Silicon Carbide Market products.

Kenneth Research, in its repository of market research reports, have recently added a report on Silicon Carbide Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The XYZ is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.

On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.

The Silicon Carbide Market is majorly affected by the recently hit global pandemic, COVID-19, which has devastated several businesses worldwide. Although, the ICT industry has observed a significant rise in the utilization of cloud applications, yet several manufacturing organizations in the ICT industry are facing significant issues, especially in places where the ICT infrastructure is not that satisfactory.

The Global Silicon Carbide Market was valued at USD 235.82 million in 2016 and is projected to reach USD 1008.30 million by 2025, growing at a CAGR of 17.52% from 2017 to 2025. 

Silicon carbide (SiC) is a semiconductor containing silicon and carbon with chemical formula SiC. It is a very hard, insoluble, crystalline compound used as an abrasive and heat-refractory material and in single crystals as semiconductors, especially in high-temperature applications. Benefits of Silicon carbide include – High hardness, Low thermal expansion, High thermal consistency, Good resistance at high temperatures, Electrical conductivity, and Non linear electrical resistance.

Final Report will add the analysis of the impact of COVID-19 on this industry.

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Sample Infographics:

Market Dynamics:
1. Market Drivers
1.1 High utilization of power semiconductor technology in renewable energy generation
1.2 Ability of SIC in semiconductor to perform at high temperature and high voltage & power
1.3 System size reduction by using SIC power devices
1.4 Application of SIC devices in RF and cellular base station
1.5 Growing demand for motor drives is lining SIC-based devices in positive growth trajectory
2. Market Restraints
2.1 Issues related with SIC power devices packaging
2.2 Gan is competing with SIC

Market Segmentation:
The Global Silicon Carbide Market is segmented on the basis of by wafer size, device, application, vertical, and region.

1. Wafer Size:
1.1 2 Inch
1.2 4 Inch
1.3 6-Inch and above 

2. By Device:
2.1 SiC bare die
2.2 SIC discrete devices 

3. By Application:
3.1 EV Motor Drive
3.2 EV Charging
3.3 Flexible AC Transmission Systems
3.4 High-Voltage
3.5 Direct Current
3.6 Electronic Combat System
3.7 Wind Energy
3.8 Solar Energy
3.9 RF Device and Cellular Base Station
3.10 Power Grid Device
3.11 Power Supply and Inverter
3.12 Lighting Control
3.13 Industrial Motor Drive
3.14 Flame Detector
3.15 Others

4. By Vertical:
4.1 Power Electronics
4.2 Telecommunications
4.3 Energy & Power
4.4 Renewable Power Generation
4.5 Defense
4.6 Automotive
4.7 Others

5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America) 
5.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Cree Inc. (Wolfspeed) 
2. Stmicroelectronics N.V. 
3. On Semiconductor 
4. United Silicon Carbide, Inc. 
5. Renesas Electronics Corporation 
6. Ascatron AB 
7. Graphensic AB 
8. Basic 3C, Inc.
9. Infineon Technologies AG 
10. Rohm Semiconductor 
11. Fuji Electric Co., Ltd. 
12. General Electric 
13. Genesic Semiconductor Inc. 
14. Monolith Semiconductor Inc. 
15. Pilegrowth Tech S.R.L. 
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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Research study on the Global Silicon Carbide Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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