Silicon Carbide Market was valued at US$ 2.33 Bn. in 2022 and it is expected to reach US$ 10.4 Bn. by 2029 is at a CAGR of 23.9% throughout the forecast period (2023-2029).

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Silicon Carbide Market Overview:

The purpose of this study is to provide a thorough examination of the Silicon Carbide market by component, application, industry, and geography. The study goes into great detail on the primary factors influencing the Silicon Carbide market’s growth. The study also offers a comprehensive analysis of the market’s value chain.

Market Scope:

The research method used to assess and anticipate the Silicon Carbide market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segmentation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Silicon Carbide market was calculated using the revenue of significant enterprises.

Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.


Segmentation:

By Product Type

According to product type, the silicon carbide (SiC) market is divided into two distinct segments: Green SiC and Black SiC. Due to its extraordinary hardness and abrasive qualities, green SiC, which is made from silica sand and petroleum coke, has several uses in abrasive tools, grinding wheels, and refractory materials. However, due to its superior thermal conductivity and low thermal expansion, Black SiC, which is produced by smelting silica sand and petroleum coke, is frequently used in abrasive applications, refractories, and the metallurgical industry.

By Application
Based on application, the silicon carbide (SiC) market is divided into numerous important industries, including Power Electronics, Steel and Energy, Automotive, Aerospace and Defence, and others. Power Electronics is one of the most common application areas, and SiC-based power devices are becoming increasingly popular in this area. These technological wonders outperform conventional silicon-based semiconductors in terms of efficiency, thermal management, and power density. The applications of SiC-based power electronics are numerous, including electric vehicles (EVs), renewable energy systems, industrial power supplies, and grid applications.


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Key Players:

The major players covered in the Silicon Carbide market report are

1. Cree Inc.
2. Infineon Technologies AG
3. ROHM Semiconductor
4. STMicroelectronics N.V.
5. Toshiba Corporation
6. Renesas Electronics Corporation
7. ON Semiconductor Corporation
8. United Silicon Carbide Inc.
9. Mitsubishi Electric Corporation
10. GeneSiC Semiconductor Inc.
11. Monolith Semiconductor Inc.
12. WeEn Semiconductors
13. Norstel AB
14. Alpha and Omega Semiconductor
15. Littelfuse Inc.
16. Microsemi Corporation (Microchip Technology)
17. Ascatron AB
18. Powerex Inc.
19. Sumitomo Electric Industries Ltd.
20. Danfoss Group
21. General Electric Company
22. Rohm Co., Ltd.
23. AGSCO Corporation
24. Tianjin Tianzhi International Co., Ltd.
25. ESD-SIC BV

Key Questions Answered in the Silicon Carbide Market Report are:

Which segment grabbed the largest share in the Silicon Carbide market?
How was the competitive scenario of the Silicon Carbide market in 2020?
Which are the key factors responsible for the Silicon Carbide market growth?
Which region held the maximum share in the Silicon Carbide market in 2020?


COVID-19 Impact Analysis on Silicon Carbide Market:

Aerospace and defence, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 epidemic. COVID-19 has had an impact on the Silicon Carbide market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spreads. Our most recent inquiry, opinions, and bits of knowledge on administration are critical to the businesses and associations in the Silicon Carbide industry, which is driving through the COVID-19 emergency to handle risk digitising jobs in order to convey trusted data and experiences to the CEOs.

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