The Latin America, Middle East and Africa Silicon Carbide Semiconductor Devices Market would witness market growth of 23.1% CAGR during the forecast period (2022-2028).
SiC is anticipated to see a considerable growth in utilization due to the variety of power electronics applications it offers. Its use is increasing in industries like the power electronics and electric vehicle sectors. In addition, siC semiconductor devices are increasingly used in EV charging infrastructure, opening up a sizable market opportunity. The last few years have seen numerous advancements and investments in the EV industry due to the ongoing pressure on governments worldwide to cut carbon emissions.
The market players are anticipated to overcome these difficulties in the near future, though, owing to strong investments in SiC semiconductor device R&D. Many new approaches are encouraging innovation in the silicon carbide semiconductor devices sector and easing design difficulties. In order to match customer expectations, electric vehicles in the automotive sector offer some benefits, including improved range, charging times, and performance.
Therefore, wide-bandgap (WBG) SiC technologies are used to create power modules. With prices dropping and range increasing, electric vehicles are becoming more prevalent on the road today. Semiconductors also use SiC in power converters for wind and solar electricity, which have lower energy loss and a longer lifespan. For instance, semiconductor devices must have high power, low loss, and quick switching to maximize efficiency, reliability, and power density in photovoltaic energy.
In an effort to promote the use of electric vehicles (EVs) in Dubai, the Dubai Electricity and Water Authority (DEWA) has established a website called the Dubai EV Community Hub. This is an initiative by DEWA to promote the usage of environmentally friendly means of transportation and strengthen Dubai's status as a hub for sustainable development. Information on the most recent EV-related regulations, goals, incentives, and legislation can be found on the EV Community Hub website. Additionally, it offers details on the most recent EV models that are available in the UAE, the configuration, features, and locations of charging stations, as well as the insurance options and green car loans that are offered for the purchase of EVs. These efforts have promoted the need for components involved in the making of EVs and their charging infrastructures.
The Brazil market dominated the LAMEA 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 $92.2 Million by 2028.The Argentina market is experiencing a CAGR of 23.8% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 22.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Silicon Carbide Semiconductor Devices Market is Predict to reach $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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