Market synopsis
Globally, silicon carbide or SiC power semiconductor market is expected to grow from USD 260.5 million in 2017 to USD 689.5 million by 2023, at a CAGR of 18.1% during the forecast period. One of the major factors driving the SiC power semiconductor market is the ability of SiC-based semiconductors to perform even at high temperature, high voltages and power as they have high thermal shock resistance, and superior thermal conductivity. SiC or silicon carbide has exceptional hardness, high strength, high elastic modulus, thermal shock resistance, low thermal expansion, due to which SiC based semiconductors are in high demand from various market segments. Other factors that are driving the increasing demand for SiC-based photovoltaic cellsand rising government investments, especially in growing economies . Additionally, the expanding application scope of SiC semiconductors in RF devices and cellular base stations is expected to drive the SiC semiconductor market growth. However, with growth of consumer demand exceeding the factory capacity and global shortage of Silicon Wafer due to limited number of vendors could be hindering the market growth
SiC power semiconductors are used with various devices such as mobiles, hybrid electric vehicles, electronic circuits, solar panels and others. Due to advancement in SiC power semiconductors, there has been an improvement in the power and battery capacity in electric vehicles. Various application segments of SiC semiconductors include RF devices and cellular base stations, power supply and inverters, power grid devices, EV motor drives, industrial motor drives, lighting control systems, and others.

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Key players
The prominent players in the market of SiC power semiconductor are Infineon Technologies AG (Germany), Cree Inc. (Wolfspeed) (USA), Rohm Semiconductor (Japan), STMicroelectronics N.V. (Switzerland), Fuji Electric Co., Ltd. (Japan), On Semiconductor Corporation (US), GENERAL ELECTRIC (US), United Silicon Carbide, Inc. (US), GeneSiC Semiconductor, Inc. (US), Renesas Electronics Corporation (Japan), Monolith Semiconductor Inc. (US), Ascatron AB (Sweden), Pilegrowth Tech S.R.L. (Italy), Graphensic ( Sweden)

Segmentation.
By device, the market is segmented into discrete device, bare die device.
By wafer size, the market is segmented into 2-inch, 4-inch and 6-inch and above.
By application, the market is segmented into RF devices and cellular base stations, power supply and inverters, power grid devices, EV motor drives, industrial motor drives, lighting control, and others.
By end-user, the market is segmented into telecommunication, energy and power, automotive, renewable power and generation, power electronics, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.

Competitive Analysis
SiC power semiconductor market is witnessing a major growth trend due to increasing demand for semiconductors in various applications in telecommunications, electric vehicles, power generation, and others.
In August 2018, Hitachi Ltd. announced the development of an energy power saving SiC semiconductor named TED-MOS that can be used in electric vehicles (EV) for saving energy.

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Regional Analysis
The global market for SiC power semiconductors is estimated to grow at a moderate rate during the forecast period from 2018 to 2023. The geographical analysis of SiC power semiconductor market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the SiC power semiconductor market as it has a significant market for RF and cellular base station device application, due to expansion of 4G and LTE networks and presence of various mobile manufacturing industries, solar panel manufacturing units, and other industries in Japan, China, South Korea, and others. The application of SiC semiconductors in power supply and inverter application is increasing in the region due to increasing investments by the major players. Additionally, development of the EV charging is fueling the SiC power semiconductor in China. North America is expected to be the second dominating region due to the presence of major silicon carbide manufacturers and continuous research focused on product improvment.

Intended Audience
• Electronic design automation (EDA) and design tool vendors IT & telecommunication industry
• Original equipment manufacturers (OEMs)
• Integrated device manufacturers (IDMs)
• Original design manufacturers (ODMs)
• Automotive ODM and OEM technology solution providers
• Research institutes and organizations
• Technology investors
• Governments and other regulatory bodies
• Suppliers and distributors
• Technology, service, and solution providers

LIST OF TABLES
Table 1 Global SiC Power Semiconductor Market, By Region, 2018–2023
Table 2 North America: SiC Power Semiconductor Market, By Country, 2018–2023
Table 3 Europe: SiC Power Semiconductor Market, By Country, 2018–2023
Table 4 Asia-Pacific: SiC Power Semiconductor Market, By Country, 2018–2023
Table 5 Middle East & Africa: SiC Power Semiconductor Market, By Country, 2018–2023
Continued…..

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LIST OF FIGURES
FIGURE 1 Global SiC Power Semiconductor Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global SiC Power Semiconductor
FIGURE 4 Value Chain Of Global SiC Power Semiconductor
FIGURE 5 Share Of Global SiC Power Semiconductor In 2017, By Country (In %)
Continued….

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