Global Silicon Carbide (SiC) Power Devices Market 2020-2024

Global Silicon Carbide (SIC) Power Devices Market 2020-2024

Technavio has been monitoring the silicon carbide (SIC) power devices market and it is poised to grow by $ 1.06 bn during 2020-2024, progressing at a CAGR of 24% during the forecast period. Our reports on silicon carbide (SIC) power devices market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing demand for power electronics, increasing focus on adopting renewable energy sources and development of smart grids. In addition, the growing demand for power electronics is anticipated to boost the growth of the market as well.

The silicon carbide (SIC) power devices market analysis includes product segment, application segment and geographic landscapes.

Technavio's silicon carbide (SIC) power devices market is segmented as below:

By Product

• Diodes
• Modules
• Transistors

By Geographic Landscapes

• UPS and PS
• PV inverters
• IMDs
• EV/HEVs
• Others
• By Geography
• APAC
• Europe
• North America
• South America
• MEA

This study identifies the increasing focus on adopting renewable energy sources as one of the prime reasons driving the silicon carbide (SIC) power devices market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our silicon carbide (SIC) power devices market covers the following areas:

• Silicon carbide (SIC) power devices market sizing
• Silicon carbide (SIC) power devices market forecast
• Silicon carbide (SIC) power devices market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading silicon carbide (SIC) power devices market vendors that include Cree Inc., Fuji Electric Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Mitsubishi Electric Corp., ON Semiconductor Corp., Renesas Electronics Corp., ROHM Co. Ltd., STMicroelectronics NV, and Toshiba Corp. Also, the silicon carbide (SIC) power devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.