What Does the Silicon Carbide Market Size Analysis Indicate?
The silicon carbide market size is expected to see rapid growth in the next few years. Having grown from $2.68 billion in 2024 to $3.15 billion in 2025 with a CAGR of 17.3%, the market is driven by the electronics and semiconductor industry, high-temperature and high-power applications, superior material properties of silicon carbide, and its adoption in automotive power electronics, renewable energy conversion, storage, and military and aerospace applications. Future forecasts anticipate a growth to $5.97 billion in 2029 at a CAGR of 17.4% attributed to expansion of electric vehicle production, wide bandgap semiconductors for energy efficiency, 5G communication and RF devices, and various other factors.
Click here to get your free sample of the Global Silicon Carbide Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5560&type=smp
What’s Driving the Silicon Carbide Market Growth?
The emerging demand for electric vehicles significantly drives the growth of the silicon carbide market. SiC, a semiconductor material used in EVs due to its high thermal conductivity, ability to handle high voltages, enhances efficiency while reducing the vehicle’s weight and cost. In 2024, the International Energy Agency reported a significant growth in the electric car market, with sales approaching 14 million in 2023. This strong trend in EV sales anticipates propelling the growth of the silicon carbide market.
What are the Silicon Carbide Market’s Major Segments?
1) By Product: Black Silicon Carbide, Green Silicon Carbide
2) By Device Type: SiC Discrete Device, SiC Bare Die
3) By Application: Steel, Automotive, Aerospace, Military and Defense, Electrical and Electronics, Healthcare, Other Applications
Order your report now for swift delivery at
https://www.thebusinessresearchcompany.com/report/silicon-carbide-global-market-report
Who are the Major Players in the Silicon Carbide Market?
Major companies operating in the silicon carbide market include Infineon Technologies AG, Cree Inc., ROHM Co. Ltd., ESK-SIC GmbH, ESD-SIC BV, Grindwell Norton Limited, Entegris Inc., and many others, significantly contributing to the market growth and development.
What Trends are Impacting the Silicon Carbide Market?
Major companies in the silicon carbide market focus on developing smaller and lighter components crucial for optimizing vehicle performance and energy consumption. For instance, STMicroelectronics NV launched Generation 4 SiC MOSFETs designed to improve electric vehicle traction inverters, enhancing driving range through improved energy efficiency and reduced component size.
What Does the Regional Analysis Indicate?
Asia-Pacific was the largest region in the silicon carbide market in 2024. The regions include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does the Silicon Carbide Market Report 2025 Offer?
The silicon carbide are hard and insoluble substances used as an abrasive and electrical resistor in high-temperature devices. The Silicon Carbide Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5560
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
