Lucintel Forecasts Silicon Carbide Market to Reach $3.0 Billion by 2028

Category: Business

According to the recent study the silicon carbide market is projected to reach an estimated $3.0 billion by 2028 from $1.2 billion in 2022, at a CAGR of 17.8 from 2023 to 2028. Growth in this market is primarily driven by strong demand from the steel manufacturing & steel processing industry and rapidly growing demand from the electronics industry. Browse 129 figures / charts and 119 tables in this 235 -page report to understand trends, opportunities and forecast in silicon carbide market by SiC based device (SiC discrete devices, SiC modules, and SiC bare die), application (RF device and cellular base stations, power grid devices, silicon carbide AC transmission systems (FACTS),etc.), end use (automotive, energy, industrial transportation, telecom and infrastructure, consumer, and others), and region. Download sample report by clicking on below link https://www.lucintel.com/silicon-carbide-market.aspx “SiC discrete devices market is expected to remain the largest segment during the forecast period.” Based on SiC based devices, the silicon carbide market is segmented into SiC discrete devices, SiC modules, and SiC bare die. Lucintel forecasts that the SiC discrete devices market is expected to remain the largest segment due to increasing demand for SiC discrete device in RF and cellular base station application, power supplies, and inverters. “Within the silicon carbide market, the automotive segment is expected to remain the largest end use” Based on end use the automotive segment is expected to witness the highest growth over the forecast period due to growing due to rising adoption of electric vehicles. “Asia pacific will dominate the silicon carbide market in near future” APAC will remain the largest region over the forecast period due to high rate of development in countries, such as Japan and South Korea, and increasing adoption of new technologies of electric vehicles in developing economies. Download Brochure of this report by clicking on https://www.lucintel.com/silicon-carbide-market.aspx Major players of silicon carbide market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Infineon Technologies, Wolfspeed, Inc., StMicroelectronics N.V, ON Semiconductors, Renesas Electric Corporation, Fiven A/S, ROHM Co., Ltd., Coorstek, Morgan Advanced Materials, Entegris are among the major silicon carbide providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/silicon-carbide-market.aspx or helpdesk@lucintel.com