New York, United States , Jan. 31, 2023 (Globe NEWSWIRE) — The World-wide SiC Centered Power Electronics and Inverter Market Dimensions is to develop from USD 660 million in 2021 to USD 5800 million by 2030, at a Compound Annual Expansion Rate (CAGR) of 35% throughout the forecast interval. The raising adoption of SiC based devices by different industries this sort of as automotive, consumer electronics, industrial, IT & telecommunication, health care, aerospace & defence, and many others is the critical driving factor.
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SiC based mostly electric power electronics and inverter converters can convert DC electrical power from the battery aspect into AC needed from the motor facet and are more compact, lighter, and extra economical than their Si IGBT–based units. SiC based units are majorly applied in high-voltage electrical power converters with stringent prerequisites regarding dimension, weight, and efficiency since they provide many appealing attributes when in comparison with usually utilised silicon-primarily based devices. The on-condition resistance and switching losses are appreciably reduce, and SiC provides about 3 periods much more thermal conductivity than silicon, allowing for a lot quicker warmth dissipation from factors. The desire for SiC dependent electric power electronics and inverters is predicted to mature exponentially for its semiconductor-centered products and purposes to prosper in the automotive and industrial sectors.
In addition, the rising adoption of SiC solutions for IT & telecommunication during the entire world is predicted to propel the desire for SiC varied gadgets. Between the IT & telecommunication applications for SiC, 5G cell technologies are the most tough, as it able of reaching speeds 20× larger than the earlier 4G LTE technological know-how. To have increased community connectivity SiC answers devices are extremely able of handling bigger electrical power density, have superior thermal efficiency, and are optimized for attaining higher performance.
Browse crucial marketplace insights unfold throughout 210 pages with 120 market data tables and figures & charts from the report “World wide SiC Based mostly Energy Electronics and Inverter Market place Size, Share, and COVID-19 Effects Examination, By Item Sort (Electrical power Electronics, Inverter), By Finish-Consumer (Automotive, Shopper Electronics, Industrial, Telecom, Healthcare, Aerospace & Defence, Many others), By Area (North The us, Europe, Asia-Pacific, Latin The usa, Center East, and Africa), Examination and Forecast 2021 – 2030” in element together with the table of contents.
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The energy electronics section is envisioned to witness a larger development amount above the forecast time period.
Dependent on product or service variety, the world-wide SiC based electric power electronics and inverter industry is segmented into energy electronics, and inverters. Among the these, the electrical power electronics phase is anticipated to witness a larger expansion amount over the forecast period. As SiC dependent switches are generally utilized in higher-voltage units or programs typically previously mentioned< 600V. SiC devices have a smaller die size for a given breakdown voltage than silicon-based devices. SiC components are small and space-efficient, which makes them ideal for use in higher-power circuits.
The automotive segment is anticipated to witness significant CAGR growth over the forecast period.
On the basis of application type, the global SiC based power electronics and inverter market is segmented into the automotive, consumer electronics, industrial, telecom, healthcare, aerospace & defence, and others. Among these, the automotive segment is expected to witness significant CAGR growth over the forecast period. Owing to the standard silicon-based devices, SiC offers requisite utility in automotive applications such as increased power density, higher system efficiency, range extension, lower system cost, and long-term reliability.
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Asia Pacific is dominating the market with the largest market share of 35%.
Asia Pacific is dominating the market with the largest market share of 35%. The region’s growth is majorly attributed to the developing economic growth of countries such as China, India, Japan, and South Korea. Owing to large number of manufacturers in China & Japan are witnessing ever-increasing demand. The Indian government is actively negotiating with businesses about establishing operations in the nation in the areas of silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging, and semiconductor design. North America is expected to be the major provider for SiC based power electronics and inverter market and is anticipated to have substantial growth in the projected time-period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: ON Semiconductor, Intel Corporation, ON Semiconductor, Panasonic Corporation, Methode Electronics Inc., Fuji Electric Co. Ltd., ELAN Electronics, TE Connectivity Ltd., Samsung Semiconductors, Seiko Epson Corporation, Cree, Texas Instruments Incorporated, Semikron Electronics GmbH and Co. Inc., Zhengzhou Yutong Group Co., Ltd., Renesas Electronics Corporation, ROHM Co., Ltd., ABB Group, Infineon Technologies AG, STMicroelectronics, Nuvoton Technology Corporation, Maxim Integrated Products Inc., StarPower Semiconductor and Others.
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Recent Development
In April 2021, ROHM Co., Ltd. announced its new establishment at the chikugo plant, to enhance the production capacity of SiC based power devices.
In June 2020, STMicroelectronics and ROHM Group Company SiCrystal signed an agreement to expand the use of SiC semiconductors in automotive and other industrial applications. To meet the need for silicon carbide power in electronic devices, a USD 130 million agreement was made to supply 150mm silicon carbide wafers.
In October 2021, The STMicroelectronics & Renault Group announced a joint venture for designing, manufacturing, developing, and supply of products, for the battery-operated and hybrid vehicle’s power electronics system.
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