Silicon Carbide (SiC) Market

By Component;

Schottky Diodes, FET & MOSFET Transistors, Integrated Circuits, Rectifiers & Diodes, Power Modules and Others

By Product;

Optoelectronic Devices, Power Semiconductors and Frequency Devices

By Wafer Size;

1 Inch to 4 Inches, 6 Inches, 8 Inches and 10 Inches & Above

By End Use;

Automotive, Electric Vehicles, IC Automobiles, Consumer Electronics, Aerospace & Defense, Medical Devices, Data & Communication Devices, Energy & Power, EV Infrastructure, Power Distribution & Utilities and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn276818405 Published Date: September, 2025 Updated Date: October, 2025

Silicon Carbide (SiC) Market Overview

Silicon Carbide (SiC) Market (USD Million)

Silicon Carbide (SiC) Market was valued at USD 4,089.17 million in the year 2024. The size of this market is expected to increase to USD 8,816.26 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 11.6%.


Silicon Carbide (SiC) Market

*Market size in USD million

CAGR 11.6 %


Study Period2025 - 2031
Base Year2024
CAGR (%)11.6 %
Market Size (2024)USD 4,089.17 Million
Market Size (2031)USD 8,816.26 Million
Market ConcentrationLow
Report Pages343
4,089.17
2024
8,816.26
2031

Major Players

  • AGSCO
  • Carborundum Universal
  • Dow Corning
  • Henan Yicheng New Energy
  • Hongwu International Group
  • KYOCERA
  • Saint-Gobain
  • Cree, Inc.
  • Infineon Technologies AG
  • General Electric (GE)

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Silicon Carbide (SiC) Market

Fragmented - Highly competitive market without dominant players


The Silicon Carbide (SiC) Market is experiencing strong momentum due to rising demand for high-efficiency power electronics and thermal conductivity materials. Over 64% of manufacturers are transitioning to SiC-based solutions in automotive, aerospace, and industrial applications to increase energy efficiency and reduce losses. This transition creates new opportunities for material suppliers to innovate and expand their offerings.

Rise in Adoption Across Power Electronics
With more than 58% of power semiconductor applications now integrating SiC components, the market is evolving rapidly. This growth is being propelled by the shift toward renewable energy systems and electric mobility, where SiC enables better voltage resistance and lower switching losses. Continuous technological advancements are accelerating the replacement of silicon with SiC in critical devices, enhancing growth prospects for the sector.

Strategic Collaborations and Innovation Initiatives
Manufacturers are engaging in strategic partnerships and joint ventures to improve supply chain efficiency and scale SiC production. Over 55% of companies in the sector have initiated collaboration efforts to co-develop next-generation SiC wafers and substrates. These initiatives are fostering innovation and enabling cost-effective manufacturing, which is essential for maintaining competitiveness and market expansion.

Positive Future Outlook Supported by Investments
The future outlook of the Silicon Carbide (SiC) Market remains optimistic, supported by growing investments in research and infrastructure. With over 60% of market stakeholders boosting R&D budgets, the focus is shifting toward breakthrough SiC innovations and scalable manufacturing techniques. This progression is set to unlock new opportunities and ensure sustained market growth through advanced application areas and wider adoption.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Component
    2. Market Snapshot, By Product
    3. Market Snapshot, By Wafer Size
    4. Market Snapshot, By End Use
    5. Market Snapshot, By Region
  4. Silicon Carbide (SiC) Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Electric Vehicles (EVs) growth
        2. Renewable Energy adoption
        3. High Power Applications demand
      2. Restraints
        1. High Production Costs
        2. Supply Chain Disruptions
        3. Regulatory Challenges
      3. Opportunities
        1. Research and Development Innovations
        2. Energy Efficiency Initiatives
        3. Industrial Applications Growth
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Silicon Carbide (SiC) Market, By Component, 2021-2031 (USD Million)
      1. Schottky Diodes
      2. FET & MOSFET Transistors
      3. Integrated Circuits
      4. Rectifiers & Diodes
      5. Power Modules
      6. Others
    2. Silicon Carbide (SiC) Market, By Product, 2021-2031 (USD Million)
      1. Optoelectronic Devices
      2. Power Semiconductors
      3. Frequency Devices
    3. Silicon Carbide (SiC) Market, By Wafer Size, 2021-2031 (USD Million)
      1. 1 Inch to 4 Inches
      2. 6 Inches
      3. 8 Inches
      4. 10 Inches & Above
    4. Silicon Carbide (SiC) Market, By End Use, 2021-2031 (USD Million)
      1. Automotive
      2. Electric Vehicles
      3. IC Automobiles
      4. Consumer Electronics
      5. Aerospace & Defense
      6. Medical Devices
      7. Data & Communication Devices
      8. Energy & Power
      9. EV Infrastructure
      10. Power Distribution & Utilities
      11. Others
    5. Silicon Carbide (SiC) Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. STMicroelectronics
      2. onsemi
      3. Infineon Technologies
      4. Wolfspeed
      5. ROHM Semiconductor
      6. Mitsubishi Electric
      7. Fuji Electric
      8. Microchip Technology
      9. Renesas Electronics
      10. Toshiba Corporation
      11. Qorvo (United Silicon Carbide)
      12. Navitas Semiconductor
      13. GeneSiC Semiconductor
      14. Littelfuse (IXYS)
      15. Hitachi Energy
  7. Analyst Views
  8. Future Outlook of the Market