DELRAY BEACH, Fla., Oct. 7, 2025 /PRNewswire/ -- The silicon carbide (SiC) market is projected to reach USD 12.03 billion by 2030, from USD 3.83 billion in 2025, at a CAGR of 25.7% according to a new report by MarketsandMarkets. Key drivers fueling the growth of the silicon carbide (SiC) market include the increasing deployment of SiC devices in electric vehicles (EVs), the rising demand for high-efficiency power electronics across industrial and energy applications, and the expanding integration of SiC in renewable energy systems such as solar and wind. These factors collectively accelerate the adoption of SiC technology across various end-use industries. Additionally, the growing use of SiC devices in telecommunications infrastructure, ongoing advancements in substrate quality and epitaxy processes, and strong government-backed initiatives and investments provide significant opportunities for market participants. These opportunities are expected to drive innovation, expand manufacturing capacity, and foster strategic collaborations among key industry stakeholders.
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Silicon Carbide (SiC) Market Scope:
Report Coverage | Details |
Market Revenue in 2025 | $ 3.83 billion |
Estimated Value by 2030 | $ 12.03 billion |
Growth Rate | Poised to grow at a CAGR of 25.7% |
Market Size Available for | 2021-2030 |
Forecast Period | 2025-2030 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By SiC Discrete Device, SiC Module, Voltage Range, Medium and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Material defects and designing and packaging issues in SiC devices |
Key Market Opportunities | Growing adoption of SiC devices in telecommunications industry |
Key Market Drivers | Growing deployment of SiC devices in electric vehicles |
Low (1,200 V to 1,700 V) voltage range to account for second fastest-growing segment in silicon carbide (SiC) market
The low-voltage range of 1,200 V to 1,700 V is expected to record the second-fastest growth rate in the silicon carbide (SiC) market. This segment plays a crucial role in applications that require compact, efficient, and cost-effective power management solutions. A key driver is the rapid electrification of passenger vehicles, where SiC devices in this range are widely used for onboard chargers, traction inverters, and DC-DC converters. Additionally, the expansion of fast-charging infrastructure for electric mobility strongly supports demand in this voltage segment. Beyond the automotive industry, sectors such as telecommunications and consumer electronics are adopting SiC devices in this voltage range to enhance efficiency in servers, data centers, and high-performance computing systems. The ability of SiC devices in this category to deliver faster switching speeds, lower conduction losses, and high-temperature resilience makes them highly attractive compared to traditional silicon solutions. As manufacturing costs gradually decrease and economies of scale improve, adoption across mid-range voltage applications is expected to accelerate. Together, these trends are positioning the 1,200 V to 1,700 V voltage range as the second fastest-growing segment within the global SiC market.
Industrial vertical to account for second-largest share of the silicon carbide (SiC) market
The industrial vertical is projected to account for the second largest share of the silicon carbide (SiC) market, driven by the need for energy efficiency, automation, and sustainable power solutions. Industries are increasingly adopting SiC devices in applications such as motor drives, robotics, heavy machinery, and factory automation systems. SiC modules and MOSFETs offer higher efficiency, lower switching losses, and improved thermal management compared to silicon, making them ideal for environments where continuous, high-performance operation is crucial. In particular, industrial motor control and automation processes benefit from SiC's ability to reduce energy consumption and minimize downtime. The integration of renewable power into industrial facilities, including solar and wind systems, also increases demand for SiC-based converters and inverters. The growing focus on smart factories and Industry 4.0 further accelerates adoption as companies seek compact and reliable power electronics to support digitalized, high-output production systems. With sustainability regulations and energy cost optimization becoming central to industrial strategies, the vertical is poised to maintain strong demand. This positions the industrial sector as a critical pillar of SiC adoption, second only to the automotive segment in overall market share.
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Asia Pacific to account for largest share of the silicon carbide (SiC) market
Asia Pacific is expected to dominate the global silicon carbide (SiC) industry, holding the largest share during the forecast period. The region is home to a strong ecosystem of semiconductor manufacturing, electric vehicle production, and renewable energy deployment, which are the primary drivers of SiC adoption. China, Japan, and South Korea are leading the way, with major automakers and energy companies integrating SiC devices into EV powertrains, charging stations, and solar inverters. India is also emerging as a growth hub, with rising demand for electrification and renewable energy projects supported by government initiatives. Asia Pacific's extensive investments in 6-inch and 8-inch wafer production, along with regional supply chain development, are enhancing the scalability and cost competitiveness of SiC technologies. Furthermore, the rapid expansion of data centers and 5G infrastructure across the region is boosting demand for SiC devices in telecommunications and IT sectors. With its large consumer base, advanced manufacturing capabilities, and strong regulatory support for clean energy and electric mobility, Asia Pacific is positioned to remain the largest and most dynamic market for SiC adoption globally.
The report profiles key players in silicon carbide (SiC) companies, including STMicroelectronics (Switzerland), Semiconductor Components Industries, LLC (US), Infineon Technologies AG (Germany), Wolfspeed, Inc. (US), and ROHM Co., Ltd. (Japan), Fuji Electric Co., Ltd. (Japan), Toshiba Electronic Devices & Storage Corporation (Japan), Microchip Technology Inc. (US), Mitsubishi Electric Corporation (Japan), and Robert Bosch GmbH (Germany). These players have employed various organic and inorganic growth strategies, including product launches, expansions, acquisitions, partnerships, collaborations, agreements, and investments.
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