Silicon Carbide (SiC) Diodes Market, 2024The silicon carbide (sic) diodes global market report 2024
Market Size – The silicon carbide (SiC) diodes market size has grown rapidly in recent years. It will grow from $1.72 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to increasing demand for energy efficiency, growth in the renewable energy sector, increasing investment in industrial automation, development of smart grids, and miniaturization of electronic devices.
The silicon carbide (SiC) diodes market size is expected to see rapid growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 11%. The growth in the forecast period can be attributed to growth in electric vehicle production, continuous innovation in SiC manufacturing, increasing emphasis on energy efficiency, emerging opportunities in 5G technology, and a global shift towards sustainable energy solutions. Major trends in the forecast period include integration with renewable energy systems, advancements in SiC manufacturing processes, proliferation of smart grids and energy storage systems, enhanced SiC diode integration in consumer electronics, and adoption of advanced driver assistance systems.
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Scope Of Silicon Carbide (SiC) Diodes MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Silicon Carbide (SiC) Diodes Market Overview
Market Drivers -The growing demand for electric vehicles (EVs) is anticipated to drive the silicon carbide (SiC) diode market in the coming years. Electric vehicles are defined as automobiles powered by electric motors and rechargeable batteries or other energy storage devices instead of internal combustion engines that run on gasoline or diesel. The rising adoption of EVs is largely due to environmental concerns, expanded charging infrastructure, and government incentives. Silicon carbide (SiC) diodes enhance the efficiency of electric vehicles by minimizing switching losses, improving thermal conductivity, and enabling quick switching capabilities, which in turn reduces the size and weight of power components. This results in improved overall performance and energy efficiency in EV powertrains. For instance, in April 2023, the International Energy Agency, a France-based autonomous intergovernmental organization, reported that electric car sales surpassed 10 million in 2022 and are projected to reach nearly 14 million in 2023, with firm objectives to increase this number to 35% by 2030. Therefore, the growing demand for electric vehicles will be a key factor in driving the silicon carbide (SiC) diode market.
Market Trends – Major companies operating in the silicon carbide (SiC) diode market are focused on developing advanced products such as the third-generation silicon carbide Schottky barrier chip to enhance performance and efficiency in high-power applications. A silicon carbide Schottky barrier chip uses a Schottky barrier diode design to achieve high breakdown voltage, low forward voltage drop, high switching speeds, and superior thermal conductivity. For instance, in July 2023, Toshiba Electronic Devices & Storage Corporation, a Japan-based electronics company, launched the TRSxxx65H series. This diode significantly improves, with a low forward voltage of 1.2V, 17% lower than the previous generation’s 1.45V. This lowering increases power conversion efficiency substantially. The series can handle forward DC currents (IF(DC)) up to 12A and square-wave surge currents (IFSM) up to 640A. It comes in both TO-220-2L and DFN8×8 packages. The diodes use an optimized junction barrier Schottky (JBS) structure. This design lowers leakage current and power dissipation, enhancing effectiveness in industrial applications.
The silicon carbide (SiC) diodes market covered in this report is segmented –
1) By Type: Schottky Diodes, Junction Diodes, P-Insulator-N Diodes (PIN Diodes), Other Types
2) By Forward Current: 2 To 5 Amperes, 6 To 10 Amperes, 11 To 20 Amperes, 21 To 40 Amperes, Above 40 Amperes
3) By Reverse Voltage: 650 Voltage, 1200 Voltage, 1700 Voltage, 3300 Voltage
4) By Application: Automotive, Medical Imaging, Communication, Data Centers, Defense, Photovoltaic Solutions, Other Applications
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Regional Insights – North America was the largest region in the silicon carbide (SiC) diode market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the silicon carbide (SiC) diodes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Mitsubishi Electric Corporation, TOSHIBA CORPORATION, Avnet Inc., STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation, ON Semiconductor, Microchip Technology Inc., Qorvo Inc., ROHM CO. LTD., Vishay Intertechnology Inc., Littelfuse Inc., Nexperia, Fuji Electric Co. Ltd., Diodes Incorporated, Alpha and Omega Semiconductor, WOLFSPEED INC., Semikron Danfoss, IXYS Corporation, Sanken Electric Co. Ltd., GeneSiC Semiconductor Inc
Table of Contents 1. Executive Summary2. Silicon Carbide (SiC) Diodes Market Report Structure3. Silicon Carbide (SiC) Diodes Market Trends And Strategies4. Silicon Carbide (SiC) Diodes Market – Macro Economic Scenario5. Silicon Carbide (SiC) Diodes Market Size And Growth…..27. Silicon Carbide (SiC) Diodes Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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