Silicon Carbide Semiconductor Market Research Report Information By Application (Telecommunication (UPS), Solar Energy System, EV Charging, Industrial Drives , Others), By Component (Schottky Diodes, FET/MOSFET Transistors, Integrated Circuits, Rectifiers/Diodes, Power Modules, Others), By End Use (Automotive, Consumer Electronics, Aerospace & Defense, Medical Devices, Energy & Power, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, And Middle East & Africa) –Market Forecast Till 2035

Silicon Carbide Semiconductor Market Summary

As per MRFR Analysis, the Silicon Carbide Semiconductor Market is experiencing significant growth, driven by the increasing demand for energy-efficient solutions across various industries, particularly automotive and renewable energy. The market was valued at 2.8 USD Billion in 2023 and is projected to reach 10.5 USD Billion by 2035, reflecting a robust CAGR of 11.67% from 2025 to 2035. Key drivers include the rapid adoption of electric vehicles and the growing focus on renewable energy sources, which are enhancing the demand for silicon carbide semiconductors due to their superior efficiency and thermal performance.

Key Market Trends & Highlights

The Silicon Carbide Semiconductor Market is witnessing transformative trends that are shaping its future.

• Market Size in 2024: 3.12 USD Billion; Projected to reach 10.5 USD Billion by 2035.
• Electric Vehicles segment expected to grow from 0.606 USD Billion in 2024 to 2.557 USD Billion by 2035.
• Power Electronics segment projected to rise from 0.909 USD Billion in 2024 to 3.743 USD Billion by 2035.
• North America to dominate with a market size of 1.24 USD Billion in 2024, growing to 4.2 USD Billion by 2035.

Market Size & Forecast

2023 Market Size: USD 2.8 Billion

2024 Market Size: USD 3.12 Billion

2035 Market Size: USD 10.5 Billion

CAGR (2025-2035): 11.67%

Largest Regional Market Share in 2024: North America.

Major Players

Infineon Technologies, NXP Semiconductors, STMicroelectronics, ROHM Semiconductor, Texas Instruments, Cree, ON Semiconductor, Wolfspeed.

Growing Demand of Silicon Carbide from Semiconductor Industries and Excellent Properties Associated with Silicon Carbide Semiconductor Is Driving the Silicon Carbide Semiconductor Market.

As per Analyst at MRFR,” The silicon carbide semiconductor market is witnessing substantial growth owing to its rising usage across various industries including automotive, power electronics, medical devices and many more. The increasing adoption of silicon carbide semiconductors is due to its unique attributes such as high-power handling, temperature resilience and efficiency, that makes it a very crucial component of several electronic devices”

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Silicon Carbide Semiconductor Market Trends

                RISING INVESTMENT IN SILICON CARBIDE SEMICONDUCTOR MARKET

The silicon carbide semiconductor market is experiencing a significant surge in investments, driven by the rising demand for energy efficient and high-performance electronic devices across several industries. The increasing investments is playing a crucial role in expanding the market of silicon carbide semiconductors globally, further contributing to the technological advancements, higher production capacity and increased adoption of silicon carbide semiconductors in several applications. The increasing awareness regarding the unique properties and advantages offered by silicon carbide semiconductors is making companies to invest significantly in this technology in order to create high performance solutions that can help them in gaining a strong competitive edge in the market. Some of the recent investments made in silicon carbide semiconductors market are:

• In May 2023, Vitesco Technologies and Onsemi signed a Silicon Carbide long-term supply agreement and agreed to invest in silicon carbide technology capacity expansion. According to this agreement, Vitesco Technologies will be gaining access to semiconductor technology by providing investment of USD 250 Million , Kilotons to Onsemi in production capacity in order to enable significant growth in electrification.


• In July 2023, Silicon Power Group, a US based company announces that it will be investing USD 121.73 Million , Kilotons for establishing a facility in India (Odisha state) for manufacturing 150 millimetre silicon carbide.


• In February 2023, Microchip Technology Inc., a provider of smart, connected and secure embedded control solutions, announced the plans to invest USD 880 Million , Kilotons for expanding its silicon carbide and silicon production capacity at its Colorado Springs manufacturing facility over the next several years. The investment is aimed at increasing the production of silicon carbide and silicon in order to respond to rising semiconductor demand from various industries.

Silicon Carbide Semiconductor Market Segment Insights

Global Silicon Carbide Semiconductor By Applications Insights

Based on Applications, the Silicon Carbide Semiconductor market is segmented into Telecommunication (UPS), Solar Energy System, EV Charging, Industrial Drives, Others. The EV Charging segments held the largest market share in 2024, and the Telecommunication (UPS) segment is the fastest-growing segment during the forecast period (2025 -2035).

SiC-based power electronics enable faster charging of electric vehicles. The high electron mobility and fast switching characteristics of SiC devices result in reduced power losses and allow for higher-frequency operation, contributing to faster charging times. SiC devices are suitable for bi-directional power flow, which is essential for vehicle-to-grid (V2G) and vehicle-to-home (V2H) applications. SiC-based power electronics facilitate efficient power conversion in both charging and discharging modes, enabling EVs to contribute to grid stability and serve as energy storage devices. the demand for fast and efficient charging infrastructure increases, SiC technology is expected to play a pivotal role in shaping the future of electric vehicle charging.

Figure 1: Silicon Carbide Semiconductor Market, By Applications, 2024 & 2035 (USD Million , Kilotons)

Global Silicon Carbide Semiconductor By Component Insights

Based on Component, the Silicon Carbide Semiconductor Market has been segmented into Schottky Diodes, FET/MOSFET Transistors, Integrated Circuits, Rectifiers/Diodes, Power Modules, Others. The FET/MOSFET Transistors segment held the largest market in 2024, and the FET/MOSFET Transistors segment is the fastest growing segment during the forecast period.

The combination of Field Effect Transistors (FETs), specifically Metal-Oxide-Semiconductor Field-Effect Transistors (MOSFETs), with silicon carbide (SiC) semiconductors offers significant advantages in power electronics applications. Silicon Carbide (SiC) and Gallium Nitride (GaN) MOSFETs offer superior performance in terms of efficiency, switching speed, and temperature tolerance compared to traditional silicon MOSFETs. SiC MOSFETs find applications in power electronics, including inverters, converters, and motor drives, where high efficiency and high-power density are critical. SiC MOSFETs are suitable for use in solar inverters and wind power converters, where their high efficiency contributes to overall energy harvesting.

Global Silicon Carbide Semiconductor By End Use Insights

Based on End Use, the Silicon Carbide Semiconductor Market has been segmented into Automotive, Consumer Electronics, Aerospace & Defense, Medical Devices, Energy & Power, Others. The Consumer Electronics segment held the largest market in 2023, and the Automotive segment is the fastest growing segment during the forecast period.

SiC devices, such as diodes and MOSFETs, are used in switch-mode power supplies commonly found in consumer electronic devices like smartphones, laptops, and tablets. The higher switching frequency and lower losses of SiC contribute to more efficient power conversion, reducing heat generation and improving overall energy efficiency. SiC components may be used in power amplifiers and audio processing circuits, contributing to improved efficiency and enhanced audio quality in consumer audio systems. SiC power electronics enable faster charging times for batteries in consumer electronics devices, addressing the growing demand for quick and convenient charging solutions. Increased collaboration between semiconductor manufacturers and consumer electronics companies is expected to drive the adoption of SiC in a broader range of devices.

Global Silicon Carbide Semiconductor Regional Insights   

Based on the region, the Silicon Carbide Semiconductor Market has been segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific accounted for the largest market share in 2024 and is anticipated to reach USD 533.6 Million , Kilotons by 2035. However, Asia-Pacific is projected to grow at the highest CAGR of 22.13% during the forecast period.

North America hosts several semiconductor manufacturers and research centers that work on the development and production of silicon carbide semiconductors. Companies engage in research, design, and production of SiC-based devices. Growth in EV sector is driving the demand for SiC semiconductor in the region.

Europe has been focusing on renewable energy sources, and SiC semiconductors play a crucial role in power electronics for renewable energy systems. The automotive sector in Europe has been a significant driver for the growth of SiC semiconductors. SiC devices are being increasingly adopted in electric vehicles (EVs) and hybrid electric vehicles (HEVs) to enhance power efficiency and extend driving range. The automotive industry's commitment to reducing carbon emissions aligns with the advantages offered by SiC technology.

The Asia-Pacific region, particularly countries like China, has been experiencing rapid growth in the electric vehicle market. The push for cleaner transportation has driven the adoption of SiC technology. Asia-Pacific countries, including Japan and South Korea, have well-established semiconductor manufacturing capabilities. The growth of SiC technology is supported by the region's ability to produce high-quality SiC wafers and devices, meeting the demand from various industries.

Figure 2: Silicon Carbide Semiconductor Market, By Region, 2024 & 2035 (USD Million , Kilotons)

Further, the major countries studied in the market report are the U.S., Canada,  Germany, France, UK,  Spain, Italy, Rest of Europe , China, India, Japan, South Korea, Rest of Asia-Pacific , Brazil, Argentina, Rest of Latin America, GCC Countries, South Africa, Rest of Middle East & Africa.

Global Silicon Carbide Semiconductor Key Market Players & Competitive Insight

Many global, regional, and local vendors characterize the Silicon Carbide Semiconductor Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.

The major players in the market include Allegro Microsystems, Inc, Infineon Technologies Ag, Rohm Co., Ltd, Semiconductor Components Industries, LLC, WOLFSPEED, Inc, Fuji Electric Co., Ltd., Mitsubishi Electric Corporation, Toshiba, Tt Electronics, GENESIC Semiconductor Inc., POWEREX Inc., STMICROELECTRONICS, And Among Others. The Silicon Carbide Semiconductor Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Silicon Carbide Semiconductor Market include.

• Allegro Microsystems, Inc


• Infineon Technologies Ag


• Rohm Co., Ltd


• Semiconductor Components Industries, LLC


• WOLFSPEED, Inc,


• Fuji Electric Co., Ltd.


• Mitsubishi Electric Corporation


• Toshiba


• Tt Electronics


• GENESIC Semiconductor Inc.


• POWEREX Inc.


• STMICROELECTRONICS

Silicon Carbide Semiconductor Market Segmentation

Silicon Carbide Semiconductor Market By Application Outlook (USD Million, Kilotons, 2019-2035)

• Telecommunication (UPS)


• Solar Energy System


• EV Charging


• Industrial Drives


• Others

Silicon Carbide Semiconductor Market By Component Outlook (USD Million, Kilotons, 2019-2035)

• Schottky Diodes


• FET/MOSFET Transistors


• Integrated Circuits


• Rectifiers/Diodes


• Power Modules


• Others

Silicon Carbide Semiconductor Market By End Use Outlook (USD Million, Kilotons, 2019-2035)

• Automotive


• Consumer Electronics


• Aerospace & Defense


• Medical Devices


• Energy & Power


• Others

Global Silicon Carbide Semiconductor Regional Outlook

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  North America
  
  
  
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  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Spain
  
  
  • Italy
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Latin America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of Latin America
  
  
  
  


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  Middle East
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  

Report Attribute/Metric	Details
Market Size 2024	USD 990.7 MILLION , KILOTONS
Market Size 2025	USD 1,194.2 MILLION , KILOTONS
Market Size 2035	USD 4,479.8 MILLION , KILOTONS
Compound Annual Growth Rate (CAGR)	21.35% (2025-2035)
Base Year	2024
Market Forecast Period	2025-2035
Historical Data	2019- 2023
Market Forecast Units	Value (USD Million , Kilotons)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Application, By Component, By End Use
Geographies Covered	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Countries Covered	the U.S., Canada, Germany, France, UK, Spain, Italy, Rest of Europe, China, India, Japan, South Korea, Rest of Asia-Pacific, Brazil, Argentina, Rest of Latin America, GCC Countries, South Africa, Rest of Middle East & Africa.
Key Companies Profiled	Allegro Microsystems, Inc, Infineon Technologies Ag, Rohm Co., Ltd, Semiconductor Components Industries, LLC, WOLFSPEED, Inc, Fuji Electric Co., Ltd., Mitsubishi Electric Corporation, Toshiba, Tt Electronics, GENESIC Semiconductor Inc., POWEREX Inc., STMICROELECTRONICS, And Among Others
Key Market Opportunities	·         Rising Investment in Silicon Carbide Semiconductor Market ·         Rising Investment in Silicon Carbide Semiconductor Market
Key Market Dynamics	·         Growing Demand of Silicon Carbide from Semiconductor Industries ·         Excellent Properties Associated with Silicon Carbide Semiconductor