AUTOMOTIVE & TRANSPORTATION
Global Silicon Carbide for EV Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Silicon Carbide for EV Market, By Application (Traction Inverter, On-Board Charger (OBC), and DC-DC Converter), Vehicle Type (Passenger Vehicles and Commercial Vehicles), Propulsion Type (Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Electric Vehicles (PHEVs)), Product (SiC Transistors (MOSFET), SiC Diodes, and SiC Power Modules), Voltage (Up to 650V, 650V - 88V, and More than 800V), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global Silicon Carbide for EV market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Electric vehicles (EVs) are vehicles that are powered, at least partially, by electricity stored in batteries. They are an increasingly popular alternative to traditional internal combustion engine vehicles (ICEVs) due to their environmental benefits and technological advancements.
The global silicon carbide for electric vehicles (EV) market encompasses the use of silicon carbide semiconductor materials specifically in the context of electric vehicles. Silicon carbide is a compound composed of silicon and carbon, with a chemical formula SiC. It is an extremely hard and durable material with a crystalline structure similar to that of diamond, making it one of the hardest known materials. Silicon carbide occurs in nature as the mineral moissanite, but it is typically produced synthetically for industrial applications. It has unique properties that make it highly suitable for EV applications, particularly in power electronics and traction inverters.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Ability to operate at higher temperatures
- Expansion of charging infrastructure
RESTRAINTS
- High costs of SiC devices
- Compatibility and integration issues
OPPORTUNITIES
- Market expansion in emerging economies
- Efficiency and range extension
CHALLENGES
- Reliability and durability concerns
- Market competition and differentiation
SEGMENTATION
- Application
- Traction Inverter
- On-Board Charger (OBC)
- DC-DC Converter
- Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Propulsion Type
- Battery Electric Vehicles (BEVs)
- Hybrid Electric Vehicles (HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Product
- SiC Transistors (MOSFET)
- SiC Diodes
- SiC Power Modules
- Voltage
- Up to 650V
- 650V - 88V
- More than 800V
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, segments, and key players as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Mitsubishi Electric
- Wolfspeed Inc.
- STMicroelectronics
- Onsemi
- Infeneon Technologies
- Robert Bosch GmbH
- ROHM CO. LTD.
- Microchip Technology
- Fuji Electric Co. Ltd.
- Toshiba Corporation
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Silicon Carbide for EV Market, by Application
- 3.2 Global Silicon Carbide for EV Market, by Vehicle Type
- 3.3 Global Silicon Carbide for EV Market, by Propulsion Type
- 3.4 Global Silicon Carbide for EV Market, by Product
- 3.5 Global Silicon Carbide for EV Market, by Voltage
- 3.6 Global Silicon Carbide for EV Market, by Geography
- 3.7 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Rising demand for power electronics
- 5.1.2 Government regulations and incentives
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Ability to operate at higher temperatures
- 5.2.2 Expansion of charging infrastructure
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High costs of SiC devices
- 5.3.2 Compatibility and integration issues
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Market expansion in emerging economies
- 5.4.2 Efficiency and range extension
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Reliability and durability concerns
- 5.5.2 Market competition and differentiation
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL SILICON CARBIDE FOR EV MARKET, BY APPLICATION
- 6.1 Application Summary
- 6.2 Market Attractive Index
- 6.3 Global Silicon Carbide for EV Market, by Application (2019-2032)
- SECTION 7 - GLOBAL SILICON CARBIDE FOR EV MARKET, BY VEHICLE TYPE
- 7.1 Vehicle Type Summary
- 7.2 Market Attractive Index
- 7.3 Global Silicon Carbide for EV Market, by Vehicle Type (2019-2032)
- SECTION 8 - GLOBAL SILICON CARBIDE FOR EV MARKET, BY PROPULSION TYPE
- 8.1 Propulsion Type Summary
- 8.2 Market Attractive Index
- 8.3 Global Silicon Carbide for EV Market, by Propulsion Type (2019-2032)
- SECTION 9 - GLOBAL SILICON CARBIDE FOR EV MARKET, BY PRODUCT
- 9.1 Product Summary
- 9.2 Market Attractive Index
- 9.3 Global Silicon Carbide for EV Market, by Product (2019-2032)
- SECTION 10 - GLOBAL SILICON CARBIDE FOR EV MARKET, BY VOLTAGE
- 10.1 Voltage Summary
- 10.2 Market Attractive Index
- 10.3 Global Silicon Carbide for EV Market, by Voltage (2019-2032)
- SECTION 11 - GLOBAL SILICON CARBIDE FOR EV MARKET, BY GEOGRAPHY
- 11.1 Regional Summary
- 11.2 Market Attractive Index
- 11.3 Global Silicon Carbide for EV Market, by Geography (2019-2032)
- SECTION 12 - NORTH AMERICA SILICON CARBIDE FOR EV MARKET
- 12.1 North America Summary
- 12.2 Market Attractive Index
- 12.3 North America Silicon Carbide for EV Market, by Application (2019-2032)
- 12.4 North America Silicon Carbide for EV Market, by Vehicle Type (2019-2032)
- 12.5 North America Silicon Carbide for EV Market, by Propulsion Type (2019-2032)
- 12.6 North America Silicon Carbide for EV Market, by Product (2019-2032)
- 12.7 North America Silicon Carbide for EV Market, by Voltage (2019-2032)
- 12.8 North America Silicon Carbide for EV Market, by Country (2019-2032)
- 12.8.1 U.S.
- 12.8.2 Canada
- 12.8.3 Mexico
- 12.8.4 Rest of North America
- SECTION 13 - EUROPE SILICON CARBIDE FOR EV MARKET
- 13.1 Europe Summary
- 13.2 Market Attractive Index
- 13.3 Europe Silicon Carbide for EV Market, by Application (2019-2032)
- 13.4 Europe Silicon Carbide for EV Market, by Vehicle Type (2019-2032)
- 13.5 Europe Silicon Carbide for EV Market, by Propulsion Type (2019-2032)
- 13.6 Europe Silicon Carbide for EV Market, by Product (2019-2032)
- 13.7 Europe Silicon Carbide for EV Market, by Voltage (2019-2032)
- 13.8 Europe Silicon Carbide for EV Market, by Country (2019-2032)
- 13.8.1 Germany
- 13.8.2 U.K.
- 13.8.3 France
- 13.8.4 Italy
- 13.8.5 Spain
- 13.8.6 Russia
- 13.8.7 The Netherlands
- 13.8.8 Belgium
- 13.8.9 Turkey
- 13.8.10 Rest of Europe
- SECTION 14 - ASIA-PACIFIC SILICON CARBIDE FOR EV MARKET
- 14.1 Asia-Pacific Summary
- 14.2 Market Attractive Index
- 14.3 Asia-Pacific Silicon Carbide for EV Market, by Application (2019-2032)
- 14.4 Asia-Pacific Silicon Carbide for EV Market, by Vehicle Type (2019-2032)
- 14.5 Asia-Pacific Silicon Carbide for EV Market, by Propulsion Type (2019-2032)
- 14.6 Asia-Pacific Silicon Carbide for EV Market, by Product (2019-2032)
- 14.7 Asia-Pacific Silicon Carbide for EV Market, by Voltage (2019-2032)
- 14.8 Asia-Pacific Silicon Carbide for EV Market, by Country (2019-2032)
- 14.8.1 China
- 14.8.2 India
- 14.8.3 Japan
- 14.8.4 South Korea
- 14.8.5 Singapore
- 14.8.6 Malaysia
- 14.8.7 Australia
- 14.8.8 Thailand
- 14.8.9 Philippines
- 14.8.10 Rest of Asia-Pacific
- SECTION 15 - SOUTH AMERICA SILICON CARBIDE FOR EV MARKET
- 15.1 South America Summary
- 15.2 Market Attractive Index
- 15.3 South America Silicon Carbide for EV Market, by Application (2019-2032)
- 15.4 South America Silicon Carbide for EV Market, by Vehicle Type (2019-2032)
- 15.5 South America Silicon Carbide for EV Market, by Propulsion Type (2019-2032)
- 15.6 South America Silicon Carbide for EV Market, by Product (2019-2032)
- 15.7 South America Silicon Carbide for EV Market, by Voltage (2019-2032)
- 15.8 South America Silicon Carbide for EV Market, by Country (2019-2032)
- 15.8.1 Brazil
- 15.8.2 Argentina
- 15.8.3 Chile
- 15.8.4 Colombia
- 15.8.5 Rest of South America
- SECTION 16 - MIDDLE EAST AND AFRICA SILICON CARBIDE FOR EV MARKET
- 16.1 Middle East and Africa Summary
- 16.2 Market Attractive Index
- 16.3 Middle East and Africa Silicon Carbide for EV Market, by Application (2019-2032)
- 16.4 Middle East and Africa Silicon Carbide for EV Market, by Vehicle Type (2019-2032)
- 16.5 Middle East and Africa Silicon Carbide for EV Market, by Propulsion Type (2019-2032)
- 16.6 Middle East and Africa Silicon Carbide for EV Market, by Product (2019-2032)
- 16.7 Middle East and Africa Silicon Carbide for EV Market, by Voltage (2019-2032)
- 16.8 Middle East and Africa Silicon Carbide for EV Market, by Country (2019-2032)
- 16.8.1 Kingdom of Saudi Arabia
- 16.8.2 South Africa
- 16.8.3 U.A.E.
- 16.8.4 Egypt
- 16.8.5 Rest of Middle East and Africa
- SECTION 17 - COMPANY SHARE ANALYSIS
- 17.1 Global Silicon Carbide for EV Market, Company Share Analysis
- 17.2 North America Silicon Carbide for EV Market, Company Share Analysis
- 17.3 Europe Silicon Carbide for EV Market, Company Share Analysis
- 17.4 Asia-Pacific Silicon Carbide for EV Market, Company Share Analysis
- SECTION 18 - COMPANY PROFILES
- 18.1 Mitsubishi Electric
- 18.1.1 Company Snapshot
- 18.1.2 Financial Overview
- 18.1.3 Product Portfolio
- 18.1.4 Recent Developments
- 18.2 Wolfspeed Inc.
- 18.2.1 Company Snapshot
- 18.2.2 Financial Overview
- 18.2.3 Product Portfolio
- 18.2.4 Recent Developments
- 18.3 STMicroelectronics
- 18.3.1 Company Snapshot
- 18.3.2 Financial Overview
- 18.3.3 Product Portfolio
- 18.3.4 Recent Developments
- 18.4 Onsemi
- 18.4.1 Company Snapshot
- 18.4.2 Financial Overview
- 18.4.3 Product Portfolio
- 18.4.4 Recent Developments
- 18.5 Infeneon Technologies
- 18.5.1 Company Snapshot
- 18.5.2 Financial Overview
- 18.5.3 Product Portfolio
- 18.5.4 Recent Developments
- 18.6 Robert Bosch GmbH
- 18.6.1 Company Snapshot
- 18.6.2 Financial Overview
- 18.6.3 Product Portfolio
- 18.6.4 Recent Developments
- 18.7 ROHM CO. LTD.
- 18.7.1 Company Snapshot
- 18.7.2 Financial Overview
- 18.7.3 Product Portfolio
- 18.7.4 Recent Developments
- 18.8 Microchip Technology
- 18.8.1 Company Snapshot
- 18.8.2 Financial Overview
- 18.8.3 Product Portfolio
- 18.8.4 Recent Developments
- 18.9 Fuji Electric Co. Ltd.
- 18.9.1 Company Snapshot
- 18.9.2 Financial Overview
- 18.9.3 Product Portfolio
- 18.9.4 Recent Developments
- 18.10 Toshiba Corporation
- 18.10.1 Company Snapshot
- 18.10.2 Financial Overview
- 18.10.3 Product Portfolio
- 18.10.4 Recent Developments
- SECTION 19 - RELATED REPORTS
- SECTION 20 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.