The North America Silicon Carbide Semiconductor Devices Market would witness market growth of 19.6% CAGR during the forecast period (2022-2028).
In many information technology systems that run at voltages under 600 V, silicon-based power electronics are increasingly used for power management. Design engineers require high-performance, high-reliability MOSFET devices to meet the high efficiency and power density requirements demanded by modern IT and telecom applications.
Silicon carbide diodes are used in high-end power supplies for telecom and server systems, although silicon carbide MOSFETs remain in the initial stages of commercial penetration. The efficiency of the server power sources has been pushed to ever-higher levels with minimal heat loss. Today's hyperscale data centers power the big data, digital economy, artificial intelligence (AI), and IoT with over 30KW server racks and incredibly sophisticated cooling control systems.
Due to their outstanding material characteristics, silicon carbide semiconductors have become the most promising for next-generation low-cost semiconductors. In addition, the market is expanding due to the rising use of SiC semiconductor devices in numerous power electronics and the broad range of uses for these components in the infrastructure for charging electric vehicles.
In Canada, the federal and provincial governments are assisting the private sector in progress in national electric vehicle battery production in light of the nation's goal of becoming carbon neutral by 2050. This support includes $12 billion in funding from provincial funding of clean technologies and the federal budget's Green Infrastructure Stream. Significant commercial prospects exist in the Canadian market for providers of relevant systems, machinery, and parts for brand-new EV and EV battery manufacturing facilities. The governments of the United States and Canada are both actively promoting the growth of this sector. As a result of the government's intensified efforts to promote the adoption and production of electric vehicles in the region, the regional silicon carbide semiconductors devices market is flourishing.
The US market dominated the North America 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 $1,072 Million by 2028.The Canada market is poised to grow at a CAGR of 22.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 21.2% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Silicon Carbide Semiconductor Devices Market is Estimated 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.
By Product
By End Use
By Wafer Size
By Component
By Country
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