CVD Silicon Carbide Market Rising Demand for Semiconductors in Automotive and Power Industries

 

CVD Silicon Carbide Market

The CVD silicon carbide market comprises silicon carbide semiconductors manufactured through chemical vapor deposition process. CVD silicon carbide exhibits high thermal conductivity, high-voltage switching capability, and resistance to radiation damage. These properties make silicon carbide an ideal semiconductor material for applications requiring high power efficiency such as those in automotive, power electronics, and telecommunication industries. The demand for silicon carbide semiconductors is increasing in automotive power modules and systems for electric vehicles owing to its high-temperature and high-voltage characteristics. Silicon carbide also finds application in fast switching power supplies, motor drives, and industrial motor controls. The need for higher energy efficiency and switching capacities in various industrial processes is expected to drive the adoption of silicon carbide-based power semiconductors.

The global CVD silicon carbide market is estimated to be valued at US$ 741.43 Bn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the CVD silicon carbide are Samsung Electronics, Apple Inc., Huawei Technologies Co., Ltd., Xiaomi Corporation and Vivo Communication Technology Co. Ltd. CVD silicon carbide holds immense opportunities in hybrid and electric vehicles due to its ability to enable fast charging, minimize power losses, and enhance system efficiency. Key players are investing in expanding their CVD Silicon Carbide Market Demand manufacturing facilities globally to capitalize on the surging demand from power electronics and EV applications. Samsung plans to invest US$ 151 Bn by 2030 towards expanding semiconductor production with a focus on silicon carbide.

Market Drivers

Growing adoption of EVs and hybrid vehicles: Silicon carbide enables smaller, lighter, and more durable power semiconductor parts ideal for motor drives, on-board chargers, and DC-DC converters in EVs and hybrids. Surging sales of EVs will drive the demand for silicon carbide semiconductors over the forecast period.

Increasing deployment of renewable energy systems: Wide bandgap property of silicon carbide makes it suitable for high-voltage power conversion in solar and wind power plants. This is expected to propel the market growth.

Market Restraints

High raw material and production costs: Silicon carbide wafers manufacturing involves complex, capital-intensive production processes increasing overall costs. This may restrict broader adoption, especially in cost-sensitive segments.

Availability of substitutes: Gallium nitride (GaN) and gallium oxide are emerging as potential substitutes offering good conductivity at even higher voltages and switching frequencies than silicon carbide. This can challenge the market growth.

Segment Analysis

The global CVD silicon carbide market is dominated by telecommunications segment. Telecommunication equipment require high performance components which can withstand high voltage, high temperature fluctuations and radiation. CVD silicon carbide fulfills these requirements as it has high thermal conductivity, high electric field breakdown strength and wide bandgap which makes it suitable for these applications. Semiconductor wafer production is another fastest growing sub segment as CVD silicon carbide is used in cutting and lapping of semiconductor wafers due to its high hardness.

Global Analysis

North America region dominated the global CVD silicon carbide market and accounted for more than 35% of global share in 2024. Presence of prominent telecom companies and semiconductor manufacturers in the US and Canada driving the growth. Asia Pacific is the fastest growing region due to growing telecommunication infrastructure and increasing automotive electronics production in China and India. China accounts for more than 25% of global CVD silicon carbide demand owing to large electronics and automobile manufacturing base in the country. Europe is also a significant market led by automotive manufacturing and semiconductor industries in Germany, UK and France.

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