“The global “Automotive Silicon Carbide Components market” was valued at US$ 1.3 billion in 2023 and is projected to reach US$ 3.1 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period (2023-2030).”
Automotive Silicon Carbide Components are advanced materials used in electric vehicles (EVs) and other automotive systems for their superior thermal conductivity, high efficiency, and ability to operate at high temperatures. These components, made from silicon carbide (SiC), are critical in improving the performance of power electronics, such as inverters and onboard chargers, by reducing energy loss and increasing range and efficiency in EVs. Their adoption is driven by the growing demand for energy-efficient vehicles and the need for high-performance materials in the automotive industry.
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By component type: Power modules account for about 60% of the market, discrete devices for 30%, and other components for 10%.
By application: Electric vehicles (EVs) account for about 70% of the market, with hybrid electric vehicles (HEVs) making up most of the remainder.
Energy Efficiency: SiC components in automotive applications typically offer 5-10% improved energy efficiency compared to traditional silicon components.
Largest Market by End-user: The electric vehicle (EV) sector is the largest end-user market for Automotive SiC Components. This includes both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
Largest Market by Region: Asia-Pacific, particularly China, is generally considered the largest market for Automotive SiC Components. This is primarily due to the region’s dominance in EV production and adoption.
Fastest Growing Market by End-user: The commercial electric vehicle sector, including electric buses and trucks, is often cited as the fastest-growing end-user market. This is driven by increasing electrification of public transportation and logistics fleets.
Fastest Growing Market by Region: Europe is frequently mentioned as the fastest-growing region for the Automotive SiC Components market. This growth is driven by stringent emissions regulations, government incentives for EV adoption, and significant investments in EV technology by European automakers.
Key Players: The top 5 companies typically account for about 60-70% of the global market share. Leading companies include Infineon Technologies, STMicroelectronics, ON Semiconductor, ROHM Semiconductor, and Cree (Wolfspeed).
Technology Adoption: Approximately 30-40% of new EV models introduced in 2023 incorporated SiC components in their power electronics systems.
Cost Trends: The cost of SiC components is expected to decrease by 10-15% annually over the next 5 years due to improved manufacturing processes and economies of scale.
Performance Improvements: SiC components in EVs can lead to a 5-10% increase in driving range compared to traditional silicon components.
This report aims to provide a comprehensive presentation of the global market for Automotive Silicon Carbide Components, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Automotive Silicon Carbide Components. This report contains market size and forecasts of Automotive Silicon Carbide Components in global, including the following market information.
We surveyed the Automotive Silicon Carbide Components manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Market Segment by Type :
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IGBT Components
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MOSFET Components
By Component Type:
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SiC Power Modules
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SiC Diodes
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SiC Transistors
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SiC MOSFETs
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SiC Bare Die
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SiC Inverters
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SiC Capacitors
Market Segment by Application :
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Powertrain Systems
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Battery Management Systems (BMS)
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Inverters
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On-Board Chargers
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HVAC Systems
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Infotainment Systems
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Lighting Systems
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ADAS (Advanced Driver Assistance Systems)
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Drivetrain Components
By Region and Country,
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North America (United States, Canada, Mexico)
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Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
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Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
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The Middle East and Africa (Middle East, Africa)
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South and Central America (Brazil, Argentina, Rest of SCA)
Competitor Analysis
The report also provides analysis of leading market participants including:
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Key companies Automotive Silicon Carbide Components revenues in global market, 2019-2024 (Estimated), ($ millions)
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Key companies Automotive Silicon Carbide Components revenues share in global market, 2023 (%)
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Key companies Automotive Silicon Carbide Components sales in global market, 2019-2024 (Estimated), (K Units)
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Key companies Automotive Silicon Carbide Components sales share in global market, 2023 (%)
Further, the report presents profiles of competitors in the market, key players include:
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STMicroelectronics
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Wolfspeed
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Infineon Technologies
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ROHM
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Technologies
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Cree
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Fuji Electric
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ON Semiconductor
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General Electric
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Toshiba corporation
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Renesas Electronics
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Microchip Technology
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