Harrisburg, NC -- (SBWire) -- 10/15/2020 --Global Silicon Carbide Market Size, Status and Forecast 2020-2023
The Silicon Carbide Market report provides a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This market study provides comprehensive data which enhances the understanding, scope and application of this report.
The global silicon carbide market is expected to reach US$3.07 billion in 2023, growing at a CAGR of 25.44%, for the duration spanning 2019-2023.
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Silicon Carbide Market: Saint-Gobain, NXP Semiconductors, Infineon Technologies, Renesas Electronics, ROHM Semiconductor and Cree and others.
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The factors, such as, escalating production of automobiles, accelerating demand for consumer electronics, increasing production of smartphones, growing urbanization and rapid expansion of the steel industry are expected to drive the market. However, growth of the market would be challenged by defects in silicon carbide materials, challenges in designing SiC MOFSETs and issues in packaging silicon carbide power devices. A few notable trends include increasing electric vehicle stock, rising demand for EV charging stations and fast growth of chassis, body and safety system.
The global silicon industry is concentrated with radio frequency (RF) devices, used across various end-use industries. RF devices are highly demanded for the production several wireless gadgets including router, Bluetooth devices, FM radios, wireless talkies, and radars. Moreover, SiC power devices are also occupying the market with a considerable share, owing to the rising demand, particularly from automobiles and E&E industry.
The fastest growing regional market is China, owing to the expansion of certain end-markets that use silicon carbide materials for various purposes on a large scale. In addition, E&E industry is expanding vividly over years, contributing to SiC market significantly as the demand for SiC power devices is growing for the use in AC and DC high-voltage applications. Owing to such factors, China is likely to maintain a significant position in the global silicon carbide market in coming years.
Scope of the report:
- The report provides a comprehensive analysis of the global silicon carbide market, further segmented on the basis of Product, Device Type and End-Use Industries.
- The major regional market (China) has been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players Saint-Gobain, NXP Semiconductors, Infineon Technologies, Renesas Electronics, ROHM Semiconductor and Cree are also presented in detail.
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Influence of the Silicon Carbide Market Report:
-Comprehensive assessment of all opportunities and risk in the Silicon Carbide market.
-Detailed study of business strategies for growth of the Silicon Carbide market-leading players.
-Conclusive study about the growth plot of Silicon Carbide market for forthcoming years.
-In-depth understanding of Silicon Carbide market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Silicon Carbide market.
Key Target Audience:
- Silicon Carbide Manufacturers
- Raw Material Suppliers
- End Users (Automotive, Aerospace, E&E, Construction Military and Healthcare)
- Industrial Consultants
- Investment Banks
- Government Bodies & Regulating Authorities Top of Form
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Silicon Carbide Market Is Expected to Grow at a CAGR of 25.44% by 2023 : Saint-Gobain, NXP Semiconductors, Infineon Technologies, Renesas Electronics