Silicon Carbide Power Semiconductors Market Report, By Device Type (SiC MOSFETs, SiC Schottky Barrier Diodes, SiC Power Modules, Other SiC Devices); Voltage Rating (600 to 1200 V, 1200 to 3300 V, Greater than 3300 V); Packaging, Application, End-User, and Regions 2025-2033

Market Overview:

"The global silicon carbide power semiconductors market was valued at US$ 2.3 billion in 2024 and is expected to register a CAGR of 15.7% over the forecast period and reach US$ 8.6 billion in 2033."

Report Attributes	Details
Base Year	2024
Forecast Years	2025-2033
Historical Years	2022-2023
Silicon Carbide Power Semiconductors Market Growth Rate (2025-2033)	15.7%

The Silicon Carbide (SiC) power semiconductors market is witnessing robust growth as industries increasingly adopt advanced materials to meet the performance demands of next-generation power systems. Silicon carbide (SiC) has superior electrical and thermal properties compared to traditional silicon (Si), offering benefits in high-voltage and high-frequency environments. Intelligent semiconductor modules are widely used in various capabilities. This includes the electrification of select passenger vehicles as well as hybrid modern buildings.  Because of increasing energy usage around the world and the need for sustainability, SiC semiconductors are witnessing immense growth in several sectors, paving the way for market growth and technology development.

Power semiconductors made of silicon carbide (SiC) are made to withstand operating circumstances that destroys conventional silicon components. Because they work well under high voltage, high temperature, and fast switching conditions, they are good for use in power applications. The rapid expansion of the global market is forcing major players to not only ramp up production capacity but also invest in a vertical integration strategy to control their supply chain. The Asia Pacific region still dominates as a result of rapid industrialization, development of electric vehicles and strong government incentives in favour of green technologies. Energy transition goals and modernization of electrical infrastructure are also causing a rise in adoption in North America and Europe.

Silicon Carbide Power Semiconductors Market Trends and Drivers:

The SiC power semiconductor market is evolving against a backdrop of numerous transformation trends. There’s a growing preference for SiC-based MOSFETs as well as Schottky diodes in electric drivetrains or fast charging stations, owing to their lower conduction losses and faster switching, as compared to the silicon IGBTs. A substantial trend is the changeover from 150 mm to 200 mm wafers, which is anticipated to increase manufacturing yields and cut production costs in the future. The shift towards integrated power modules and compact power systems is also driving design innovation across industries. Car makers and chip manufacturers are joining forces to smartly develop power chips tailored for EV platforms.

The Silicon Carbide power semiconductors market is experiencing strong growth due to multiple drivers. The increase in the production of electric vehicles, with their corresponding high-efficiency, light-weight, and high-performance power components. With SiC devices, it is possible to achieve a longer driving range of the electric vehicle. Moreover, energy loss and cooling system can be reduced. Furthermore, the global commitment to decarbonization and adoption of renewable energy sources is significantly increasing the need for high-efficiency power converters and inverters, where SiC devices outperform their silicon counterparts. The need for an efficient power management system and for an overall compact solution is both required in industrial automation and the data centre electrification.

Silicon Carbide Power Semiconductors Market Restraining Factors:

Many barriers are slowing the broad deployment of SiC power semiconductors despite their growing uptake. One of the most common challenges is the cost of manufacturing. The production of SiC wafers, which features complex processes such as crystal growth and wafer slicing, is more resource-intensive compared to silicon. Defect-free SiC wafers’ yields are also quite low; hence, high prices persist. The cost element alone can become a deterrent. This can happen in application/market segments where budget overwhelm performance which can further limit the penetration of SiC technologies across low- and mid-range power segments

Another important constraint is supplying chain bottleneck, especially in availability of quality SiC substrates and foundry services. The demand may be growing, but the current production capacities are still catching up, resulting in long lead-times and unpredictable prices.  Also, the technology is relatively new, so design expertise, testing standards, and implementation practices are still evolving. Many companies leveraging SiC face steep learning curves. New design paradigms and manufacturing equipment, plus workforce specialization, can be quite demanding. This causes extra expenses and extends time to market, especially for smaller firms or new entrants that aren’t able to invest in a higher level R&D.

Silicon Carbide Power Semiconductors Market Opportunities:

The silicon semiconductor market is witnessing growth with increase in demand for energy efficient technologies worldwide. More and more electric vehicle manufacturers are harnessing the potential of SiC components in traction inverters, onboard chargers, and DC-DC converters to improve energy efficiency and other attributes. Countries are all over encouraging clean transport, So, a lot of governments are making policies which help SiC to get adopted. SiC devices are facilitating the design of smaller and more efficient inverters and converters for solar, wind, and energy storage systems, enhancing their scalability and reliability, under the renewable energy sector.

Newer markets and applications like 5G telecommunications, aerospace, and rail transport are also providing new opportunities. In these applications high power density and thermal efficiency are important. With more R&D expenditure, companies are trying to formulate a less costly route to manufacturing through better wafer slicing, defect mitigation and other cost-saving measures. As 200 mm wafer technology matures, it will boost volume and reduce unit cost significantly, making SiC solutions economical for more applications.  The growing partnerships between companies and research institutions will probably lead to faster innovation to boost acceptance in the marketplace of new technologies.

Silicon Carbide Power Semiconductors Market Segmentation:

By Device Type

• SiC MOSFETs 
• SiC Schottky Barrier Diodes (SBDs) 
• SiC Power Modules 
• Other SiC Devices 

The segment of SiC MOSFETs is projected to account for the largest market share during the forecast period. High-efficiency applications, comprising electric vehicles, industrial motor drives, and renewable energy will be slowly turning to SiC, due to their fast switching, voltage tolerance and low conduction loss benefits.  The design of the system becomes compact due to the thermal conductivity. Thus, it is used in the powertrains of automobiles. In addition, development of manufacturing processes will enhance yields and lower costs, further accelerating their uptake across major power electronics platforms. Due to their scalability across a wide voltage range, they are also considered versatile for use across many industries during the forecast period.

By Voltage Rating

• 600–1200 V 
• 1200–3300 V 
• >3300 V 

1200 to 3300 V, by voltage rating is expected to dominate the market share during the forecast period. The balance between performance and cost makes it well-suited for key applications including electric vehicle drivetrains, industrial converters and renewable energy inverters. Devices in this voltage range are suitably insulated and switch efficiently for medium-voltage systems, without the complexity and costs of higher-voltage devices. As the world vigorously pursues electrification, especially in cars and the bigger utility power systems, this voltage level is proving itself to be the most versatile, being wide-ranging as well as offering optimum performance and compliance to standards.  The demand for SiC devices in this voltage range will continue to be driven by the rising production of electric vehicles and the addition of energy storage systems, shaping market trends in the forecast period.

By Packaging

• Discrete Packages 
• Power Modules 
• Integrated Subsystems 

During the forecast period, the power module packaging market is expected to dominate. Their ability to integrate multiple SiC devices into one compact unit enables more efficient and effective thermal management and reliability of the overall system. Power modules are increasingly popular in high-power applications such as electric vehicles, rail transport, industrial drives and renewable energy systems where space, thermal performance and operation are vital. The modular design helps to simplify the system design and lower the assembly cost, and therefore is preferred by OEMs and system integrators. With the growing requirement for compact and high power density solutions in electrification and energy transition initiatives, the preference for power modules is likely to grow across sectors. For the duration of the prediction period, there will be a stronger hold in the market due to a continuous innovation in designs of the module.

By Application

• Automotive 
• Renewable Energy 
• Industrial 
• Consumer & ICT 
• Aerospace & Defense 

The automotive sector is projected to hold the largest market share during the forecast period. The demand for electric vehicles electric vehicles (EVs), plug-in hybrids (PHEVs), and fuel-cell vehicles (FCVs) is driving a major transformation towards electric mobility and energy-efficient power electronics. As the traction inverter, onboard charger, and DC-DC converter market share expands, increasing vehicle range, reducing system size, and enabling ultra-high-speed charging are major reasons for the growth of SiC devices. The large automotive OEMs are highly investing in SiC technology to enhance vehicle performance and efficiency, which is a major factor in the demand growth.  The trend is further supported by government policies aimed at vehicle electrification and emissions reduction across major regions including North America, Europe, and Asia-Pacific. It is anticipated that as more EV models are introduced across the globe and production increases, the automotive segment will remain the largest application of SiC technology during the forecast period.

By End-User

• Wafer & Substrate Suppliers 
• IDMs 
• Module Integrators & Tier-1s 
• OEMs 

IDMs are expected to dominate the market share by end-user during the forecast period. Because they control the whole supply chain renting SiC wafers, making Schottky diodes, and packaging and testing parts, the company is in a good position.  Integrated device manufacturers gain improved quality, performance, and supply chain resilience control in order to meet the growing need for reliability and scalability in the market. As demand for SiC power devices grows, IDMs have the best position to respond quickly through in-house innovation, capacity expansion and established relationships with customers in various industries. Because they are able to customize solutions for specific applications and optimize product development timelines, they able to achieve competitive advantage. Through the large investment in SiC fabs and through the partnership with OEMs and Tier 1s, the IDMs are likely to hold the largest share of the market during the forecast period.

Silicon Carbide Power Semiconductors Market, By Region:

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia
• Poland
• Benelux
• Nordic
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• ASEAN
• Australia & New Zealand
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• Saudi Arabia
• South Africa
• United Arab Emirates
• Israel
• Rest of MEA

The global market for silicon carbide power devices is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North America market is driven by robust adoption rate of electric vehicles as well growth in renewable energy projects owing to established infrastructure and favourable regulatory frameworks promoting energy efficiency. The market in the region is further driven by the presence of major semiconductor manufacturers and integrated device manufacturers. Europe has a major share due to strict environmental regulations and aggressive government initiatives to lower carbon emissions. Countries like Germany, France, and U.K. are rapidly shifting to electrification and renewable energy, increasing the demand for silicon carbide devices for automotive and industrial applications. The report says that Asia Pacific is expected to be the fastest regional market growing at a healthy CAGR during the forecast period. The key states driving the growth are China, India and Japan. The ongoing industrialization is going to create increased demand for power generating facilities. Further, the rapidly growing electric vehicle market and investment in renewable energy are going to propel the growth. This region is increasingly adopting these due to increasing power demand and cost reduction drive. Growth in Latin America is steady, having been largely driven by emerging industrial sectors and growing energy infrastructure in Brazil, Mexico, Argentina, and more recently, the region is witnessing a growing emphasis on modernisation of power electronics systems.  A notable growth in the Middle East and Africa market is expected driven by investment on smart grid and renewable energy project in Saudi Arabia, UAE and South Africa. This increasing focus on energy efficiency and asset lifecycle management in conventional and renewable power infrastructure projects further supplements the growth of the target market in these regions.

Leading Companies in Global Silicon Carbide Power Semiconductors Market & Competitive Landscape:

The competitive landscape in the global silicon carbide power devices market is characterized by intensifying competition among key industry players aiming to capture market share through innovative, high-performance, and cost-effective solutions. Production of SiC semiconductor devices globally is on the rise. Major semiconductor manufacturers and integrated device manufacturers are enlarging their respective product portfolios to include SiC MOSFETs, Schottky diodes and power modules for automotive, industrial and renewable energy sectors. More companies are developing better manufacturing techniques in wafer fabrication and packaging of materials to improve efficiency, reliability and thermal management of devices. Companies are forming strategic alliances, mergers, and partnerships to improve their R&D capacity. Moreover, global distribution networks are enhanced, especially in the growing Asia Pacific region. Moreover, several players are utilizing online platforms to enhance their supply chain management, customer service, and performance tracking. Competition in the market is further encouraged by the stringent regulatory standard and the requirement of certification which act the two catalysts for quality improvement and barrier for entry.  There is a globally rising demand for energy-saving and long-lasting power devices. Further, during the forecast period, competing on innovation and service will heat up for growth sustenance.

These companies include:

• Infineon Technologies 
• Wolfspeed (Cree) 
• STMicroelectronics 
• ROHM Semiconductor 
• onsemi 
• Mitsubishi Electric 
• Fuji Electric 
• Toshiba Electronic Devices & Storage 
• Microchip Technology 
• Littelfuse 
• Qorvo / UnitedSiC 
• GeneSiC Semiconductor (now part of Navitas) 
• Semikron-Danfoss 
• Bosch 
• Hitachi Energy 
• StarPower Semiconductor (China) 
• Sanan IC (China) 
• BYD Semiconductor (China) 
• Global Power Technology (China) 
• Tianyu Semiconductor (China) 
• CRRC Times Electric (China) 

Recent Development:

• February 2025: Infineon Technologies announced that the first products based on its 200mm SiC technology are being shipped to customers, reaching a major milestone in its SiC roadmap. This project will help Infineon achieve lower costs and greater efficiency, making it a more attractive partner in high-volume markets such as electric vehicle and renewable energy.
• December 2024: Onsemi agreed to pay $115 million to Qorvo for acquiring SiC JFET technology business, which includes its subsidiary United Silicon Carbide (USiC). The acquisition, which is expected to close in the first quarter of 2025, will bolster onsemi’s EliteSiC power portfolio for the growing demand for high-efficiency power solutions for applications like AI data centers.
• August 2025: Four new semiconductor projects were approved by the Union Cabinet of India under the India Semiconductor Mission (ISM). One of these, an integrated SiC compound semiconductor facility started by SiCSem Private Limited and Clas-SiC Wafer Fab Ltd, UK, in Odisha, Myanmar. The country will have its first commercial compound fab with a planned long-term annual capacity of 60,000 wafers.
• August 2024: ROHM Semiconductor’s 4th Generation SiC MOSFETs were adopted in three electric vehicles from Geely’s ZEEKR brand, traction inverters of the electric vehicles.  Announced in August 2024, these new MOSFETs offer significantly lower on-resistance and switching loss, enhancing the cruising range and overall performance of electric vehicles.

Silicon Carbide Power Semiconductors Market Research Scope

Report Metric	Report Details
Silicon Carbide Power Semiconductors Market size available for the years	2021-2033
Base Year	2024
Forecast Period	2025-2033
Compound Annual Growth Rate (CAGR)	15.7%
Segment covered	By device type, voltage rating, packaging, application, end-user, and regions
Regions Covered	North America:  The U.S. & Canada Latin America: Brazil, Mexico, Argentina, & Rest of Latin America Asia Pacific: China, India, Japan, Australia & New Zealand, ASEAN, & Rest of Asia Pacific Europe: Germany, The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe The Middle East & Africa:  Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, and Rest of MEA
Fastest Growing Country in Europe	Germany
Largest Market	Asia Pacific
Key Players	Infineon Technologies, Wolfspeed (Cree), STMicroelectronics, ROHM Semiconductor, Onsemi, Mitsubishi Electric, Fuji Electric, Toshiba Electronic Devices & Storage, Microchip Technology, Littelfuse, Qorvo / UnitedSiC, GeneSiC Semiconductor (now part of Navitas), Semikron-Danfoss, Bosch, Hitachi Energy, StarPower Semiconductor (China), Sanan IC (China), BYD Semiconductor (China), Global Power Technology (China), Tianyu Semiconductor (China), CRRC Times Electric (China)