Global Silicon Carbide Market Size & Outlook, 2021-2030
Global silicon carbide market, 2018-2030 (US$M)
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Global silicon carbide market highlights
- An overview of the global silicon carbide market trends heading towards 2030. The global market generated a revenue of USD 2,960.8 million in 2021 and is expected to reach USD 7,983.6 million by 2030.
- The overall growth of the global market from 2021 to 2030. The market is expected to grow at a CAGR (2022 - 2030) of 11.7% to attain a revenue of USD 7,983.6 million by 2030.
- A look at the global market revenues per segment in 2021. In terms of segment, black sic accounted for a revenue of USD 1,633.1 million in 2021.
- The segment witnessing the fastest revenue growth within the market. Green SiC is the most lucrative product segment registering the fastest growth during the forecast period.
- An overview of global market per region and country. In terms of region, Asia Pacific was the largest revenue generating market in 2021. Country-wise, Germany is expected to register the highest CAGR from 2022 to 2030.
Global data book summary
| Market revenue in 2021 | USD 2,960.8 million |
| Market revenue in 2030 | USD 7,983.6 million |
| Growth rate | 11.7% (CAGR from 2021 to 2030) |
| Largest segment | Black sic |
| Fastest growing segment | Green SiC |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Black SiC, Green SiC |
Other key industry trends
- In terms of revenue, the North America accounted for 12.1% of the global silicon carbide market in 2021.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Germany is the fastest growing regional market and is projected to reach USD 126.2 million by 2030.
Black sic was the largest segment with a revenue share of 55.16% in 2021. Horizon Databook has segmented the Global silicon carbide market based on black sic, green sic covering the revenue growth of each sub-segment from 2018 to 2030.
Silicon carbide has thrice the thermal conductivity, thrice the band gap, and ten times ten times the critical electric field strength than that of silicon. Thus, there is increasing adoption of silicon carbide semiconductors in power electronics.
This is expected to significantly drive the growth of silicon carbide. Semiconductor devices manufactured from silicon carbide exhibit tremendous speed, exceptional toughness, and therefore are considered to be a more efficient alternative to silicon. As a result, SiC diodes are already replacing silicon in the semiconductor industry.
Applications like power supplies and photovoltaic inverters are the significant drivers of the SiC semiconductor. Moreover, SiC power electronics is also adopted in electric vehicle charging, wind energy infrastructure and industrial motor drives.
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Silicon Carbide Market Scope
Silicon Carbide Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global silicon carbide market size, by regions, 2018-2030 (US$M)
Top 10 countries: Silicon carbide market size, 2021 (US$M)
Global silicon carbide market share, by product, 2021 & 2030 (%, US$M)
Silicon carbide market: Opportunity assessment by country
Global silicon carbide market, by region, 2021 (US$M)
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