Yole:The silicon carbide market is expected to reach $10 billion by 2029

Yole Intelligence has released its latest report Power SiC Manufacturing 2024', which provides an in-depth analysis of the current status and future trends of the power silicon carbide（SiC） manufacturing industry. The report comprehensively covers multiple aspects, including SiC powder suppliers, crystal growth technology, wafer manufacturing tools, and device market applications.

It is mentioned that the SiC device market is expected to reach nearly $10 billion by 2029, with a compound annual growth rate (CAGR) of 24% between 2023 and 2029. This rapid growth is mainly driven by the automotive and mobile industries, especially the application of battery electric vehicles (BEVs).

The main participants in the SiC market are focusing on transitioning to 200mm wafers and addressing related challenges. With the booming development of the electric vehicle field,

it hasbecome the largest market for SiC in 2023, and this growth momentum is expected to continue until 2029.

At present, 400V electric vehicles represented by Tesla are the largest consumers of silicon carbide, and with the launch of more 800V electric vehicles, market demand is further accelerating. In addition, industrial applications in the energy sector are also a key driving force for the growth of silicon carbide, especially in applications such as photovoltaic inverters and high-power electric vehicle DC chargers, demonstrating enormous development potential.

Although more and more companies are exploring the application of silicon carbide devices, the widespread adoption of SiC wafers and devices in the market still faces certain obstacles due to insufficient supply and high costs. However, with the continuous increase in market demand, it is expected that silicon carbide technology will accelerate its popularization in the coming years and promote further development in this field.