Pune, India, May 2017 /PRNewswire/ – The silicon carbide has entered the growth phase and is expected to grow further in the coming years. The market is expected to be worth USD 617.4 million by 2022, at a CAGR of 17.4 per cent between 2017 and 2022. The drivers for this market is the ability of SiC devices in the semiconductor to perform at high temperature and high voltage and power, increasing demand for motor drives, ability to reduce overall system size, and increasing application of SiC in radio frequency (RF) devices and cellular base station. However, SiC devices packaging is acting as a major challenge for silicon carbide market.

The market for EV motor drive is expected to grow at the highest CAGR during the forecast period. EV motor drive application is growing because of the increasing silicon carbide devices penetration in electric vehicles, as silicon carbide devices reduce size and weight of the system and overall weight of the vehicle.

Among all the major verticals of the silicon carbide, the power electronics vertical held the largest share of the market in 2016. The main driver for the growth of this market is owing to increasing use of SiC devices in power supply and inverter applications. The silicon carbide discrete device is expected to hold the largest share of the market during the forecast period. This is due to the high demand for SiC discrete devices that can be attributed to the fact that these devices have numerous applications including RF and cellular base station applications as well as in power supply and inverter applications.

With the increased demand for high power semiconductors, the load on the power equipment has increased. This has created a need for electronic devices that can operate in a high-temperature and high-voltage environment. Therefore, the SiC discrete device market is expected to grow at a significant CAGR during the forecast period.

The SiC wafer size of 6-inch and above is expected to reach at the highest CAGR between 2017 and 2022. The demand for 6-inch and above SiC wafer is rising as these can facilitate the manufacturing of more number of devices as compared to 2 and 4 inches silicon carbide wafers.

The market in RoW is expected to grow at the highest CAGR because of the growing telecom industry in South American countries is leading to the rise in silicon carbide devices in the region. RF devices are also playing a significant role in the growth of the silicon carbide market in the region.