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SiC Based Power Electronics & Inverter Market 2021 Major Companies Profile, Competitive Landscape, Key Regions and Investments Forecast

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Jul 12, 2021 (The Expresswire) — The globalSiC based power electronics and inverter marketsize is projected to reach USD 3,888.2 million by 2027, exhibiting a CAGR of 32.5% during the forecast period. According to a new report by Fortune Business Insights™, titled “SiC Based Power Electronics and Inverter Market, 2020-2027”, the market’s value stood at USD 446.3 million in 2019.

While the outbreak of the COVID-19 pandemic has generated unprecedented challenges for the semiconductor and electronics industries, its impact has been minimal on the SiC based power electronics and inverter market growth. The principal reason for the insulated position of this market is the extensive utilization of electronic components and inverters in the automotive, consumer electronics, manufacturing, and healthcare industries amid the pandemic. As a result, the market soared at a 21.5% CAGR and touched a value of 542.2 million in 2020.

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ROHM Completes Facility Construction at Its Apollo Chikugo Plant for SiC Power Devices

In January 2021, ROHM Semiconductor announced the completion of the construction of its new environment-friendly facility at its Apollo Chikugo plant in Kyoto, Japan. ROHM’s aim behind building this facility is to enhance its capacity to produce SiC based power electronics and inverter devices and meet the growing demand for such devices. The new structure consists of a state-of-the-art factory that will run on a combination of a number of energy-saving technologies. Moreover, electricity for the facility will be generated from renewable energy sources. In addition, SiCrystal GmbH, a company under the ROHM Group known for its SiC wafers, is also slated to start operations with renewables by 2022.

Increasing Electric Car Sales Worldwide to Accelerate Market Growth

The demand for electric cars has grown promisingly over the past few years and is expected to continue its trajectory in the forthcoming years. According to the International Energy Agency (IEA), in 2019, the total electric car sales globally topped 2.1 million, indicating a 40% year-on-year increase. SiC based power electronics and inverter systems have emerged as an ideal alternative to the traditional silicon-based semiconductors commonly deployed in electric vehicles, primarily due to their high energy efficiency. For example, SiC semiconductors lose only 5% of energy as heat during the power conversion process, implying that they save 95% of the converted energy. Research is also being done to develop silicon carbide semiconductors. The University of Tokyo, for instance, has been collaborating with Mitsubishi Electric since 2017 to augment the reliability of SiC-based semiconductors. Together, these factors are bolstering the prospects of this market.

Automotive Segment to Undergo Prolific Expansion

Based on the end-use industry, the market has been grouped into automotive, consumer electronics, IT and telecommunication, aerospace and defense, and others. The automotive segment led the global market with a share of 47.8% and the China market with a share of 49.2% in 2019. This is mainly attributable to the escalating demand for electric and hybrid vehicles.

By type, the market has been divided into power electronics and inverters.

On the basis of geography, the market has been categorized into North America, South America, Europe, the Middle East and Africa, and Asia Pacific.

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Asia Pacific Dominated the Market with Revenue Generation of USD 188.7 million in 2019

  • Asia Pacific, which boasted a market size of USD 188.7 million in 2019, is expected to hold on to its commanding position during the forecast period owing to the strong semiconductor and electronics manufacturing infrastructure in East Asia, especially China, South Korea, and Taiwan.
  • North America is poised to enlarge its SiC based power electronics and inverter market share backed by the increasing investments in advanced automotive technologies by local players.
  • Rising focus on research and development in the electronics domain will fuel the market in Europe.

Key Players to Expand Business through Strategic Collaborations

The competitive landscape of this market is getting intensified owing to the increasing number of collaborations between key players. The intent behind these partnerships is to engineer innovative and path-breaking SiC based power electronics and inverter solutions for diverse end-use industries. The development of novel offerings will enable the partnering entities to jointly expand their businesses and strengthen their position in the international market.

Industry Development:

  • January 2020:SiCrystal, a ROHM company, and STMicroelectronics signed a multi-year supply agreement for silicon carbide wafers. The contract covers the supply of 150mm advanced SiC wafers worth USD 120 million from SiCrystal to STM.

List of Key Players Profiled in this Market Report:

  • Microsemi Corporation (United States)
  • Texas Instruments Incorporated (United States)
  • Semikron Electronics GmbH and Co., Inc. (United States)
  • Mitsubishi Electric Corp (Japan)
  • Renesas Electronics Corporation (Japan)
  • NXP Semiconductor N.V. (The Netherlands)
  • ROHM CO., LTD. (Japan)
  • Cree, Inc. (United States)
  • Methode Electronics, Inc. (United States)
  • Toshiba Corporation (Japan)
  • Maxim Integrated Products, Inc. (United States)
  • Rockwell Automation Inc. (United States)
  • Fuji Electric Co, Ltd. (Japan)
  • ABB Group (Switzerland)
  • Infineon Technologies AG (Germany)
  • STMicroelectronics (Switzerland)
  • ON Semiconductor (United States)

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Detailed Table of Content

  • Introduction
  • Executive Summary
  • Market Dynamics
  • Competition Landscape
  • Key Market Insights and Strategic Recommendations
  • Profiles of Key Players(Would be provided for 10 players only)
  • Primary Interview Responses

TOC Continued

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Press Release Distributed by The Express Wire

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