SiC Devices Market Projected to Reach $30.12B by 2035 at 23% CAGR
Market research forecasts silicon carbide device market growth to $30.12 billion by 2035, implying 23% compound annual growth rate from current baseline. Projection reflects sustained demand across power electronics, EV, and renewable energy applications.
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What happened
SNS Insider published a market forecast for global silicon carbide devices covering 2026–2035, projecting $30.12 billion market size at 23% CAGR, segmented by device type, power range, voltage range, and application.
Why it matters
SiC adoption accelerates in electrification (EVs, charging infrastructure) and renewable energy (inverters, grid integration) due to superior efficiency and thermal performance versus silicon. High CAGR reflects structural shift toward wide-bandgap semiconductors in power conversion, supporting margin expansion for suppliers and reducing system-level energy losses.
Market transmission
First-order: SiC device revenue growth benefits semiconductor manufacturers with SiC portfolios (power MOSFETs, diodes, modules). Second-order: lower switching losses and higher operating temperatures reduce cooling costs in EV powertrains and industrial drives, improving OEM economics; grid-scale renewable integration becomes more cost-competitive; automotive and industrial capex allocation shifts toward SiC-capable suppliers.
What to watch
Actual SiC shipment growth rates, ASP trends, and competitive capacity additions; EV adoption acceleration and grid modernization spending; technology node progression (650V, 900V, 1200V) and cost parity milestones with silicon; customer design-win announcements from Tier-1 automotive and industrial OEMs.
Source:GlobeNewswire France
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