Silicon Carbide (SiC) Market Projected to Reach $3,212.42 Million by 2030 with a 15.20% CAGR

Data Bridge Market Research recently undertook a comprehensive market intelligence investigation into the silicon carbide (SiC) Market. Their freshly released report adopts an attractive format, effectively presenting crucial data through visually captivating tables, graphs, charts, and figures.

Market research analysis is one of the finest options to resolve business challenges quickly by saving a lot of time. An international silicon carbide (SiC) market document analyzes the market status, growth rate, future trends, market drivers, market restraints, key opportunities, challenges, market risks, entry barriers, sales channels, distributors and Porter's Five Forces Analysis. Under competitive analysis section of silicon carbide (SiC) report, major key players existing in the market are revealed along with different details such as company profiles, their market share analysis, and their diverse strategies which make them prosper in the market.

A credible silicon carbide (SiC) market research report gives information about the brand awareness, market landscape, possible future issues, industry trends and customer behaviour for the Chemical and Materials industry. A team of enthusiastic, dynamic and skilled researchers and analysts work with full dedication to provide our clients with the supreme market research report. The market drivers and restraints have also been explained using SWOT analysis. This comprehensive report makes available the recent and forthcoming technical and financial details of the industry. A thorough market report like silicon carbide (SiC) report truly acts as a backbone for the success of any business.

Data Bridge Market Research analyses that the global silicon carbide (SiC) market, which was USD 1,035.65 million in 2022, would rocket up to USD 3,212.42 million by 2030, and is expected to undergo a CAGR of 15.20% during the forecast period of 2023 to 2030.

Market Definition

Silicon carbide is a compound that acts as a steel production deoxidizing agent. Silicon carbide is primarily dissolved in an oxygen furnace to generate huge amounts of hot steel . The item's low sulfur, nitrogen, silicomanganese or ferrosilicon, and aluminum content make it a cost-effective material. The compound possesses three times the band gap, ten times the critical strength of the electric field, and three times the thermal conductivity compared to silicon.

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Key Growth Drivers:

Growing demand from oil and gas industry
The oil and gas industry is a significant Silicon Carbide (SiC) market driver. Silicon carbides (SiC) are extensively used in the oil and gas sector for separating and purifying gases, removing impurities, and dehydration processes. With the increasing global energy demand and exploration of unconventional oil and gas reserves, the demand for Silicon Carbide (SiC) is expected to rise.

Growing emphasis on energy efficiency
Silicon carbide-based devices offer lower power losses and higher energy efficiency than traditional silicon-based devices. As energy consumption and environmental concerns continue rising, industries and governments worldwide focus on energy-efficient solutions. Using silicon carbide improves energy efficiency in various applications such as power generation, transmission, and electric vehicles.

The report emphasizes the participation of key entities, notably:

Infineon Technologies AG (Germany)

Cree, Inc. (U.S.)

ROHM Co., Ltd. (Japan)

Microsemi (U.S.)

STMelectronics (Switzerland)

Fuji Electric Co., Ltd. (Japan)

Semiconductor Components Industries, LLC (U.S.)

General Electric (U.S.)

Toshiba Corporation (Japan)

Renesas Electronics Corporation (Japan)

Microchip Technology Inc.,(U.S.)

Grindwell Norton Limited (India)

Dow (U.S.)

CUMI (India)

Entegris (U.S.)

Report Scope:

Analysis of market trends influencing the global beverage stabilizers market's growth.
Examination of trends within key regional and country-level markets based on type, function, and application.
Providing a comprehensive overview of the silicon carbide (SiC) market.
Evaluation of historical, current, and projected market sizes in terms of volume and value.
Offering a neutral perspective on market performance.
Essential information for market players seeking to maintain and expand their market presence.


Key Market Segmentation

By Product (Black Silicon Carbide, and Green Silicon Carbide), Device (SIC Discrete Devices, and SIC Bare Die), Wafer Size (2 Inch, 4 Inch, 6-Inch and Above), Application (RF Device and Cellular Base Station, Power Grid Device, Flexible AC Transmission Systems, High-Voltage, Direct Current, Power Supply and Inverter, Lighting Control, Industrial Motor Drive, Flame Detector, EV Motor Drive, EV Charging, Electronic Combat System, Wind Energy, Solar Energy, and Others), Vertical (Telecommunication, Energy and Power, Automotive, Renewable Power Generation, Defense, Power electronics, and Others)

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