Market size, share, growth, and trend analysis for silicon carbide through 2029

Silicon Carbide Market is expected to reach US$ 3519.14 Mn. by 2029, at a CAGR of 18.60% during the forecast period.

Silicon Carbide Market

Silicon Carbide Market Overview:

A thorough analysis of the competition is provided by the Silicon Carbide market study, which also includes company profiles and market share data for the top international rivals. The scope of the study includes a thorough analysis of the Silicon Carbide market as well as the factors influencing regional differences in the industry's rate of development.

Market Scope:

Extensive primary research was conducted to acquire data and check and validate key figures once market engineering, which included market statistics computations, market size estimations, market projections, market breakdown, and data triangulation, was finished. Top-down and bottom-up strategies, as well as other data triangulation techniques, were frequently used throughout the market engineering process to conduct market estimating and forecasting for the overall market segments and sub-segments detailed in this research. All data gathered during the market engineering process are subjected to extensive qualitative and quantitative analysis in order to give crucial information throughout the report.

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Segmentation:

Based on the Product, the Silicon Carbide Market is segmented into Black and Green. The Black segment held the largest market share, accounting for 57% in 2021. The segment's growth is attributed to the increasing consumption of steel and growing automobile and construction industries across the globe. Black Silicon carbide is crystalline in nature and is produced in furnaces at temperatures of more than 2300o C from silica sand and coke. In addition, Black SiC is more cost-effective as compared to green SiC. These factors are expected to drive the SiC market growth during the forecast period for this segment.

Key Players:

• Agsco Corporation
• Carborundum Universal Limited
• Cree, Inc.
• Entegris, Inc.
• Fuji Electric Co., Ltd.
• General Electric Company
• GeneSiC Semiconductor Inc.
• Grindwell Norton Ltd.
• II-VI Incorporated
• Infineon Technologies AG
• Microchip Technology Incorporated
• Powerex Inc.
• Renesas Electronics Corporation
• ROHM CO., LTD
• SEMIKRON International GmbH

Both primary and secondary research are used to determine the market's leaders and to estimate market revenue. The main study includes in-depth interviews with influential thought leaders and subject matter experts, including CEOs, marketing executives, and seasoned front-line workers. In-depth interviews with significant thought leaders and industry professionals, including CEOs, marketing executives, and seasoned front-line staff, were undertaken as part of primary research, and secondary research included a review of the annual and financial reports of the major manufacturers. In order to determine percentage splits, market shares, growth rates, and global market breakdowns, secondary data is used. These calculations are then cross-checked against primary data.

The biggest players in the Silicon Carbide market are as follows:

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Regional Analysis:

The geographical overview of the Silicon Carbide market report also covers specific market influencing factors and changes in market legislation that have an impact on present and future market trends. In order to assess the total market potential and identify profitable patterns in order to gain a stronger footing, current and future trends are researched. The existing environment and projected trends serve as the foundation for the geographic market evaluation.

COVID-19 Impact Analysis on Silicon Carbide Market:

End-user industries using Silicon Carbides experienced a decline in growth from January 2020 to May 2020 as a result of a pause in operations. These nations included China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the demand for companies that produce Silicon Carbide decreased dramatically, which had an effect on the growth of the Silicon Carbide market in 2020. Global COVID-19 occurrences and lockdowns have significantly decreased end-user business demand for Silicon Carbides.

Key Questions Answered in the Silicon Carbide Market Report are:

  • In 2021, which segment held the highest proportion of the Silicon Carbide market?
  • What is the Silicon Carbide market’s competitive landscape?
  • What are the primary drivers assisting Silicon Carbide market growth?
  • Which region has the most market share in the Silicon Carbide market?
  • What will be the Silicon Carbide market’s CAGR throughout the projected period (2022-2027)?

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