Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.80 Billion | USD 14.20 Billion | 22.50% | 2023 |
FrequentlyAsked Questions
Silicon carbide (SiC) semiconductors are emerging, high-performance semiconductors made of pure carbon and silicon.
The global silicon carbide semiconductor market is expected to be driven by rising investments in the electric vehicle industry across the globe.
According to study, the global silicon carbide semiconductor market size was worth around USD 2.80 billion in 2023 and is predicted to grow to around USD 14.20 billion by 2032.
The CAGR value of the silicon carbide semiconductor market is expected to be around 22.50% during 2024-2032.
The global silicon carbide semiconductor market is expected to witness the highest demand in Asia-Pacific during the forecast period.
The global silicon carbide semiconductor market is led by players like Toshiba Corporation, Wolfspeed, Inc., United Silicon Carbide, Inc. (now part of Qorvo), STMicroelectronics N.V., Cree, Inc. (now Wolfspeed, Inc.), Infineon Technologies AG, Mitsubishi Electric Corporation, ON Semiconductor Corporation (onsemi), GeneSiC Semiconductor Inc., Fuji Electric Co., Ltd., Qorvo, Inc., ROHM Co., Ltd., General Electric Company (GE), Littelfuse, Inc. and Microchip Technology Incorporated.
The report explores crucial aspects of the silicon carbide semiconductor market including a detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.
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