Global Silicon Carbide Market for Semiconductor Applications 2017-2021
About Silicon Carbide
Silicon carbide (SiC) is a wide-band gap semiconductor material that is used for various applications in the semiconductor industry. SiC has an outstanding thermal performance, power switching frequencies, and power ratings compared with silicon. It has the potential to deliver high-power switching applications in extreme environments. Silicon carbide (SiC) is a wide-band gap semiconductor material that is used for various applications in the semiconductor industry. SiC has an outstanding thermal performance, power switching frequency, and power rating compared with silicon. It has the potential to deliver high-power switching applications in extreme environments. SiCs are mostly used in MOSFETs, apart from other devices.
Technavio’s analysts forecast the global silicon carbide market for semiconductor applications to grow at a CAGR of 18.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global silicon carbide market for semiconductor applications for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Silicon Carbide Market for Semiconductor Applications 2017-2021
Technavio recognizes the following companies as the key players in the global silicon carbide market for semiconductor applications: Cree, GeneSiC Semiconductor, Infineon Technologies, and STMicroelectronics.
Other Prominent Vendors in the market are: Microsemi, Monolith Semiconductor, United Silicon Carbide, and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is high demand from solar panel industry. Off-grid electronic switching systems (ESSs) use rechargeable batteries to store the excess electricity that is generated from solar panels. It then delivers the stored power after sunset and on cloudy days. ESSs are crucial for power semiconductor suppliers and are gaining popularity in China and Southeast Asia. In villages, solar panels are installed in off-grid locations with an ESS to provide a power source throughout the day.”
According to the report, one driver in market is increased need for higher power density. Power density is the major factor to achieve technological advances in power electronics, especially in high-power applications. For instance, electric rail traction drives, inverter systems, wind power generators, and solar power generators use power electronics devices to improve their operational efficiencies. Vendors are investing in R&D processes to develop devices that operate at higher levels of power density. Power electronics devices offer advantages such as less driving power, simplified circuits, and optimum forward and reverse blocking capabilities. This enables them to operate at higher power densities. In addition, compact power electronics device designs are best-suited for high power densities. Thus, the demand for higher power densities in many high-power applications drives the market.
Further, the report states that one challenges in market is high investment requirements. SiC semiconductor devices require high investments as their manufacturing process is expensive compared with silicon-based semiconductor devices. Manufacturers should install high-end equipment as the manufacturing process involves complex procedures and requires the deployment of advanced technologies. Few established vendors are still engaged in the large-scale manufacturing of SiC semiconductor devices. This is because these devices are expected to replace silicon-based devices. As a result, most of the electronic devices are expected to have the complete SiC-based component infrastructure. This will likely lead to an increase in sales and volume. Start-ups depend on funds for capital expenses and other high-value daily operational expenses. For instance, Transphorm, a semiconductor device manufacturer, raised $70 million for its expansion. The existing vendors are also raising funds for their expansion plans. For instance, GaN Systems, a Canada-based semiconductor manufacturer.
Cree, GeneSiC Semiconductor, Infineon Technologies, STMicroelectronics, Microsemi, Monolith Semiconductor, United Silicon Carbide, and Toshiba.
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