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Market research analysts at Technavio predict that the global silicon carbide market for semiconductor applications will grow steadily during the next four years and post a CAGR of over 18% by 2021. This market research analysis identifies the increased need for higher power density as one of the primary growth factors for this market. Power density is the major factor to achieve technological advances in power electronics, especially in high-power applications thus, vendors are investing in R&D processes to develop devices that operate at higher levels of power density. For instance, electric rail traction drives, inverter systems, wind power generators, and solar power generators use power electronics devices to improve their operational efficiencies. Additionally, power electronics devices offer advantages such as less driving power, simplified circuits, and optimum forward and reverse blocking capabilities which enables them to operate at higher power densities.
One of the latest trends that will gain traction in the silicon carbide market for semiconductor applications in the coming years is the expansion of applications across other sectors. Technological advances in electric vehicles (EVs) and hybrid EVs drive the demand for power electronics devices in this sector. Additionally, applications in the automobile sector also drives the demand for power electronics devices, which have high power densities, in the global power electronics market. These devices help to conserve energy and offer a reliable source of energy for communication needs.
Due to the presence of several large and small-scale vendors, the silicon carbide powder market appears to be competitive. The primary objective of vendors is to support and drive long-term sustainable growth for themselves and the economy. To support the growing demand for advanced semiconductor components, the emerging economies are strategically moving their industrial establishments from low-cost production areas and are focusing on developing technology-based high-quality product lines. Furthermore, the increased competition in the semiconductor industry is also challenging the growth of silicon carbide manufacturers and they have the constant need to innovate strategies to enhance market performance, while preserving the quality and reducing the price.
The leading vendors in the market are -
The other prominent vendors in the market include Microsemi, Monolith Semiconductor, United Silicon Carbide, and Toshiba.
During 2016, the consumer electronics segment accounted for the major shares and dominated the silicon carbide powder market. Factors such as the increased demand for power electronics devices from offices, hospitals, and commercial organizations will contribute to the growth of this industry segment in the coming years. Additionally, factors such as the increase in awareness and the need to conserve energy will also drive market growth in this segment during the forecast period.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. The rising demand for consumer electronics and telecommunication in developing countries along with the increasing wireless infrastructure are factors that are driving SiC material consumption in the region. Additionally, the increased demand for power applications and economic growth in these countries are also major factors that will drive the growth of the market in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Technology perspective — Wide-band gap materials
PART 06: Market landscape
PART 07: Market segmentation by application
PART 08: Market segmentation by end-user
PART 09: Geographical segmentation
PART 10: Decision framework
PART 11: Drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
Tags: tungsten carbide, aluminum oxide, semiconductor manufacturing, embedded system, hardware and semiconductor market segmentation, embedded systems market share,
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