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Silicon Carbide MOSFETs Market Size

Report ID: GMI12011
Published Date: Oct 2024
Report Format: PDF

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Silicon Carbide MOSFETs Market Size

The global silicon carbide MOSFETs market was valued at USD 2 billion in 2023 and is estimated to grow at a CAGR of 30.1% from 2024 to 2032.

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The rising adoption of electric vehicles (EVs) globally is a significant growth drive for the Silicon Carbide (SiC) MOSFETs market. SiC MOSFETs are crucial in EV powertrains and charging infrastructure, offering higher efficiency and reduced power loss compared to traditional silicon-based components. As governments and automakers push for the electrification of transportation to reduce carbon emissions, the silicon carbide MOSFETs industry demand is expected to surge, driven by the need for enhanced performance and extended driving range in EVs.

The global shift towards renewable energy sources, such as solar and wind, is a major driver for the SiC MOSFETs market. SiC MOSFETs are essential components in inverters and power converters used in renewable energy systems, where efficiency and reliability are paramount. The increasing deployment of solar and wind power installations, driven by government incentives and the need for sustainable energy solutions, is expected to boost the demand for SiC MOSFETs.

For instance, in June 2024, Vishay Intertechnology Introduces First SiC MOSFET Products to PCIM Europe 2024. The company will be showcasing its broad portfolio of power management solutions that address several increasingly important trends in power electronics, including e-mobility, high efficiency power conversion, energy storage, and grid management.

Silicon Carbide MOSFETs Market Report Attributes
Report Attribute	Details
Base Year:	2023
Silicon Carbide MOSFETs Market Size in 2023:	USD 2 Billion
Forecast Period:	2024–2032
Forecast Period 2024–2032 CAGR:	30.1%
2024–2032 Value Projection:	USD 21.5 Billion
Historical Data for:	2021–2023
No. of Pages:	210
Tables, Charts & Figures:	410
Segments covered:	Device Type, Voltage Range, Application, Technology Node, End-use Industry
Growth Drivers:	Increasing demand for electric vehicles (EVs) Growth of renewable energy sector Increased adoption in aerospace and defense Government support and investment
Pitfalls & Challenges:	High production costs Technical challenges in integration

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Authors: Suraj Gujar, Rutvij Kshirsagar

Frequently Asked Questions (FAQ) :

The global market size for silicon carbide MOSFETs was valued at approximately USD 2 billion in 2023 and is expected to reach around USD 21.5 billion by 2032, driven by a CAGR of 30.1% from 2024 to 2032 due to the rising adoption of electric vehicles (EVs).

The silicon carbide MOSFETs industry from module SiC MOSFETs segment is expected to register a CAGR of 31% during the forecast period from 2024 to 2032, due to its superior performance in high-power applications.

The U.S. accounted for a 67.8% share of the North America market in 2023, driven by strong demand from the EV industry, renewable energy sector, and advanced power electronics applications.

Major players in the industry include Hitachi Power Semiconductor Device, Ltd., Littelfuse, Inc., Microchip Technology Inc., Mitsubishi Electric Corporation, ON Semiconductor, Renesas Electronics Corporation, ROHM Semiconductor, and STARCHIP.