The Europe Silicon Carbide Semiconductor Devices Market would witness market growth of 20.0% CAGR during the forecast period (2022-2028).
Silicon is said to have reached its limits when it comes to functioning at greater temperatures, voltages, and frequencies. Devices made of silicon carbide offer higher frequency, voltage, and temperature thresholds than silicon-based ones. The advancements in materials like gallium nitride (GaN) and silicon carbide (SiC) have drawn more attention.
Many types of converters, inverters, power supplies, battery chargers, and motor control systems use SiC semiconductor devices. Silicon carbide semiconductor devices are highly adapted to meet the rising need for electrification and sustainability because of their material characteristics.
Due to its material characteristics, SiC has been suggested as a silicon alternative, and these benefits promote its use in power electronics. Electric vehicles (EVs) battery chargers, DC-DC converters, on-board chargers, hybrid EV powertrains, wind turbines, photovoltaic inverters, MRI & X-ray power supplies, air conditioning, integrated vehicle systems, and auxiliary power suppliers are some significant applications of SiC semiconductors.
Europe, which includes numerous nations that excel in the automobile sector, is one of the world's top producers of automobiles. Moreover, the automobile industry is one of the region's most significant industries, particularly in Italy. According to the International Trade Government, Italy's industrial turnover in 2019 was $119 billion, or around €106 billion, or 6.2% of Italy's GDP. However, the industry is changing due to the transition from thermal engines to electromobility (hybrid and electric), which may present opportunities for car parts manufacturers, charging infrastructure, and diagnostic tools. As a result of the region's robust automotive industry, there would be an increase in EV production, which would also drive the growth of silicon carbide semiconductor devices.
The Germany market dominated the Europe Silicon Carbide Semiconductor Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $330.2 Million by 2028.The UK market is anticipated to grow at a CAGR of 19.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 20.9% during (2022 - 2028).
Based on Product, the market is segmented into Power Semiconductors, Optoelectronic Devices and Frequency Devices. Based on End Use, the market is segmented into Automotive, Energy & Power, Aerospace & Defense, Medical Devices, Data & Communication Devices, Consumer Electronics and Others. Based on Wafer Size, the market is segmented into 1 inch to 4 inches, 6 inches, 8 inches and 10 inches & above. Based on Component, the market is segmented into Power Modules, FET/MOSFET Transistors, Schottky Diodes, Integrated Circuits, Rectifiers/Diodes and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Silicon Carbide Semiconductor Devices Market will Hit $5.2 Billion by 2028, at a CAGR of 20.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.), Infineon Technologies AG, ROHM Co., Ltd., STMicroelectronics N.V., ON Semiconductor Corporation, FUJI ELECTRIC CO., LTD., TT Electronics plc., Mitsubishi Electric Corporation, Toshiba Corporation, and Wolfspeed, Inc.
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