Dublin, Oct. 14, 2022 (GLOBE NEWSWIRE) -- The "Automotive Silicon Carbide Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering. The global market for automotive Silicon Carbide Market is expected to grow at a CAGR of 12.5 % during the forecast period of 2022 to 2030.

Due to its ability to withstand extremely high temperatures, silicon carbide has an extended application across various application segments. Because of its high utility and one-of-a-kind properties, silicon carbide is witnessing increased revenues due to expanding worldwide demand for electric vehicles (EV).

This demand is being driven by the rapid adoption of technologies that produce zero emissions. The global pandemic (Covid-19) and the subsequent shutdown of production activities had a direct impact on new order bookings, which ultimately led to the shortfall for the fiscal year 2020. The imposition of social distance, in conjunction with restrictions on movement, had an immediate and direct impact on the rate of productivity achieved by local manufacturers. Increasing Demand for Electric Vehicle is the Key Motivating Factor It is anticipated that the demand for silicon carbide would be driven by the growing adoption of technologies that produce zero emissions, which has led to an increase in the global demand for electric vehicles. As per The International Energy Agency (IEA), 2021 electric vehicle registrations climbed by 41% in 2020, and around 3 million electric vehicles were sold all over the world.

The rapid adoption of electric vehicles, as opposed to fuel-based vehicles, can play an important role in achieving the goal of limiting the global temperature rise to 1.5 degrees Celsius above pre-industrial times, as decided by the United Nations in the Paris Agreement. This target was established in order to combat the effects of climate change (UN). Nevertheless, rising investments in the installation of electric vehicle charging stations are required to complement the widespread use of electric vehicles (EVs).

High Manufacturing and Processing Cost is Negating the Market Growth Since silicon carbide does not exist as a naturally occurring mineral, it must be synthesized through the use of several furnace processes. SiC materials are made commercially under high-temperature conditions, and the resulting products are significantly more expensive than silicon. The decreased number of available fabrication facilities is just one of the many factors that contribute to the higher overall cost of device manufacturing for foundries.

Doping in SiC is difficult to manufacture due to a number of factors, including its chemical inertness and its poor diffusion coefficient. The current production procedures result in numerous distinct kinds of material faults being produced in SiC substrates.

Product Flaws are the Biggest Challenges that Companies are Seeking to Overcome It is common to find micropipes, which are holes of a micrometer or smaller, dispersed throughout SiC materials, particularly crystals. SiC devices are subject to a variety of flaws throughout the manufacturing process of bigger wafers. These problems include stacking faults, dislocations, and prototype inclusions, among others. These flaws are brought about by a silicon and carbon precursor balance that is less than ideal, in addition to a local instability in either pressure or temperature. These faults have an effect on the efficiency of the device and cause a degradation in its electrical characteristics. The SiC Discrete Accounted for the Largest Market Share The global market for silicon carbide has been divided into three submarkets: SiC Discrete, SiC Bare Die, and SiC Module, each of which is based on the type of device. The SiC Discreteaccounted for the largest market share in 2021. SiC MOSFETs and SiC diodes are two more sub-segments that fall under the umbrella of the SiC discrete category. Small power applications, such as industrial power supplies and power supplies for high-power LEDs, are where discrete SiC MOSFET packages find the majority of their applications.

Discrete packaging typically has a bigger cooling area than continuous packaging, which allows it to perform admirably even in environments with restricted cooling capacity. Schottky diodes made of silicon carbide (SiC) offer superior switching performance, in addition to higher power density, improved efficiency, and reduced system costs. 6-inch SiC Wafer to Dominate the Market The global market for silicon carbide has been segmented into the 2-inch, 4-inch, and 6-inch wafer sizes, according to the size of the wafers. Because of factors such as the growing demand for electric vehicles (EVs) and the increasing preference for silicon carbide over silicon among original equipment manufacturers (OEMs) and auto manufacturers, the 6-inch segment is anticipated to account for the largest revenue share during the forecast period.

When compared to their Si MOSFET counterparts, SiC MOSFETs offer superior performance, higher switching frequencies, and higher efficiencies. Maintaining the device's voltage rating while simultaneously reducing its thickness is made possible by a critical breakdown field with a larger critical value. In addition to this, because the bandgap is larger, it has a lower leakage of current. Because of this, market participants have increased the production of wafers based on silicon carbide for a diverse set of applications. APAC Emerged as Global Leader In terms of revenue, the Asia-Pacific region held the largest share of the global silicon carbide market in 2021. This region reported a market share of 55% in 2021, coming in ahead of Europe and North America, respectively. It is anticipated that the market in APAC will continue to have the greatest size throughout the forecast period. The most important markets for electric vehicles and hybrid electric vehicles in Asia are China, Japan, South Korea, and India.

According to the study from the IEA outlook 2020, China was responsible for a share of 47% of the worldwide sales of electric buses in 2019. This greatly contributed to the growth of SiC market in APAC. It is anticipated that during the forecast period, the market will be further driven by the initiatives taken by many governments of APAC region to promote the use of electric cars.

Key questions answered in this report

What are the key micro and macro environmental factors that are impacting the growth of Automotive Silicon Carbide market?

What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?

Estimated forecast and market projections up to 2030.

Which segment accounts for the fastest CAGR during the forecast period?

Which market segment holds a larger market share and why?

Are low and middle-income economies investing in the Automotive Silicon Carbide market?

Which is the largest regional market for Automotive Silicon Carbide market?

What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

Which are the key trends driving Automotive Silicon Carbide market growth?

Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Silicon Carbide market worldwide?

Key Topics Covered: 1. Preface 2. Executive Summary 3. Automotive Silicon Carbide Market: Business Outlook & Market Dynamics 3.1. Introduction 3.2. Global Automotive Silicon Carbide Market Value, 2020 - 2030, (US$ Million) 3.3. Key Trends Analysis 3.4. Market Dynamics 3.4.1. Market Drivers 3.4.2. Market Restraints 3.4.3. Key Challenges 3.4.4. Key Opportunities 3.5. Impact Analysis of Drivers and Restraints 3.6. See-Saw Analysis 3.7. Attractive Investment Proposition 3.8. Porter's Five Force Model 3.8.1. Supplier Power 3.8.2. Buyer Power 3.8.3. Threat Of Substitutes 3.8.4. Threat Of New Entrants 3.8.5. Competitive Rivalry 3.9. PESTEL Analysis 3.10. Competitive Landscape 3.10.1. Market Positioning of Key Automotive Silicon Carbide Market Vendors 3.10.2. Strategies Adopted by Automotive Silicon Carbide Market Vendors 4. Automotive Silicon Carbide Market: By Device Type, 2020-2030, USD (Million) 4.1. Market Overview 4.2. Growth & Revenue Analysis: 2021 Versus 2030 4.3. Market Segmentation 4.3.1. SIC Discrete Device 4.3.1.1. SIC Diode 4.3.1.2. SIC MOSFET 4.3.2. SIC Bare Die 4.3.3. SIC Module 5. Automotive Silicon Carbide Market: By Wafer Size, 2020-2030, USD (Million) 5.1. Market Overview 5.2. Growth & Revenue Analysis: 2021 Versus 2030 5.3. Market Segmentation 5.3.1. 2 Inch 5.3.2. 4 Inch 5.3.3. 6 Inch and Above 6. Automotive Silicon Carbide Market: By Application, 2020-2030, USD (Million) 6.1. Market Overview 6.2. Growth & Revenue Analysis: 2021 Versus 2030 6.3. Market Segmentation 6.3.1. EV traction inverters 6.3.2. Onboard chargers 6.3.3. DC/DC converters 7. North America Automotive Silicon Carbide Market, 2020-2030, USD (Million) 8. UK and European Union Automotive Silicon Carbide Market, 2020-2030, USD (Million)

9. Asia Automotive Silicon Carbide Market, 2020-2030, USD (Million) 10. Latin America Automotive Silicon Carbide Market, 2020-2030, USD (Million) 11. Middle East and Africa Automotive Silicon Carbide Market, 2020-2030, USD (Million)

12. Company Profiles 12.1. Infineon Technologies (Germany) 12.1.1. Company Overview 12.1.2. Financial Performance 12.1.3. Product Portfolio 12.1.4. Strategic Initiatives 12.2. Cree, Inc. (United States) 12.2.1. Company Overview 12.2.2. Financial Performance 12.2.3. Product Portfolio 12.2.4. Strategic Initiatives 12.3. ROHM Co., Ltd. (Japan) 12.3.1. Company Overview 12.3.2. Financial Performance 12.3.3. Product Portfolio 12.3.4. Strategic Initiatives 12.4. STMicroelectronics (Switzerland) 12.4.1. Company Overview 12.4.2. Financial Performance 12.4.3. Product Portfolio 12.4.4. Strategic Initiatives 12.5. Fuji Electric (Japan) 12.5.1. Company Overview 12.5.2. Financial Performance 12.5.3. Product Portfolio 12.5.4. Strategic Initiatives 12.6. ON Semiconductor (United States) 12.6.1. Company Overview 12.6.2. Financial Performance 12.6.3. Product Portfolio 12.6.4. Strategic Initiatives 12.7. General Electric (United States) 12.7.1. Company Overview 12.7.2. Financial Performance 12.7.3. Product Portfolio 12.7.4. Strategic Initiatives 12.8. Toshiba corporation (Japan) 12.8.1. Company Overview 12.8.2. Financial Performance 12.8.3. Product Portfolio 12.8.4. Strategic Initiatives 12.9. Renesas Electronics (Japan) 12.9.1. Company Overview 12.9.2. Financial Performance 12.9.3. Product Portfolio 12.9.4. Strategic Initiatives 12.10. Microchip Technology 12.10.1. Company Overview 12.10.2. Financial Performance 12.10.3. Product Portfolio 12.10.4. Strategic Initiatives 12.11. Others 12.11.1. Company Overview 12.11.2. Financial Performance 12.11.3. Product Portfolio 12.11.4. Strategic Initiatives For more information about this report visit https://www.researchandmarkets.com/r/pumioi

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