The Business Research Company’s Silicon Carbide (SiC) Diodes Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 11, 2024 /EINPresswire.com/ — The silicon carbide (SiC) diodes market size has seen rapid growth in recent years. It is projected to increase from $1.72 billion in 2023 to $1.9 billion in 2024, with a CAGR of 10.9%. The growth in this sector is due to the rising demand for energy efficiency, expansion in the renewable energy sector, increased investment in industrial automation, development of smart grids, and the miniaturization of electronic devices.

What Is The Estimated Market Size Of The Global Silicon Carbide (SiC) Diodes Market And Its Annual Growth Rate?

The silicon carbide (SiC) diodes market is projected to see rapid growth, reaching $2.89 billion by 2028 at a CAGR of 11%. This growth is driven by the increase in electric vehicle production, ongoing innovations in SiC manufacturing, a greater focus on energy efficiency, emerging opportunities within 5G technology, and a global shift towards sustainable energy solutions. Major trends include the integration of SiC with renewable energy systems, advancements in manufacturing processes, the proliferation of smart grids and energy storage systems, enhanced SiC diode use in consumer electronics, and the adoption of advanced driver assistance systems.

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Growth Driver of The Silicon Carbide (SiC) Diodes Market

The growing demand for electric vehicles (EVs) is expected to propel the silicon carbide (SiC) diode market moving forward. Electric vehicles utilize electric motors and are powered by rechargeable batteries or other energy storage devices, rather than internal combustion engines. The rise in EV adoption is driven by environmental concerns, the expansion of charging infrastructure, and government incentives. Silicon carbide (SiC) diodes enhance EV efficiency by minimizing switching losses, improving thermal conductivity, and allowing rapid switching capabilities, which helps reduce the size and weight of power components, leading to improved overall performance and energy efficiency in EV powertrains.

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Which Market Players Are Driving The Silicon Carbide (SiC) Diodes Market Growth?

Major companies operating in the silicon carbide (SiC) diodes market are Mitsubishi Electric Corporation, TOSHIBA CORPORATION, Avnet Inc., STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation, ON Semiconductor, Microchip Technology Inc., Qorvo Inc., ROHM CO. LTD., Vishay Intertechnology Inc., Littelfuse Inc., Nexperia, Fuji Electric Co. Ltd., Diodes Incorporated, Alpha and Omega Semiconductor, WOLFSPEED INC., Semikron Danfoss, IXYS Corporation, Sanken Electric Co. Ltd., GeneSiC Semiconductor Inc

What Are The Emerging Trends Shaping The Silicon Carbide (SiC) Diodes Market Size?

In the silicon carbide (SiC) diode market, companies are introducing advanced products such as third-generation silicon carbide Schottky barrier chips. These chips offer improved performance and efficiency in high-power applications by utilizing a Schottky barrier design to achieve high breakdown voltage, low forward voltage drop, and superior thermal conductivity.

How Is The Global Silicon Carbide (SiC) Diodes Market Segmented?

1) By Type: Schottky Diodes, Junction Diodes, P-Insulator-N Diodes (PIN Diodes), Other Types
2) By Forward Current: 2 To 5 Amperes, 6 To 10 Amperes, 11 To 20 Amperes, 21 To 40 Amperes, Above 40 Amperes
3) By Reverse Voltage: 650 Voltage, 1200 Voltage, 1700 Voltage, 3300 Voltage
4) By Application: Automotive, Medical Imaging, Communication, Data Centers, Defense, Photovoltaic Solutions, Other Applications

Geographical Insights: North America Leading The Silicon Carbide (SiC) Diodes Market

North America was the largest region in the silicon carbide (SiC) diode market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the silicon carbide (SiC) diodes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Silicon Carbide (SiC) Diodes Market Definition

Silicon carbide (SiC) diodes are semiconductor devices known for their high breakdown voltage, thermal conductivity, and low forward voltage drop. These diodes are increasingly utilized in power electronics applications requiring high efficiency, temperatures, and frequencies.

Silicon Carbide (SiC) Diodes Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global silicon carbide (SiC) diodes market report covering trends, opportunities, strategies, and more

The Silicon Carbide (SiC) Diodes Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on silicon carbide (SiC) diodes market size, drivers and trends, silicon carbide (SiC) diodes market major players, competitors’ revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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