Electrification of Transport: How SiC Semiconductors Are Powering EVs

 

The global silicon carbide (SiC) power semiconductors market is set for a transformative decade. Valued at US$ 1.8 Bn in 2024, the industry is forecast to advance at an impressive CAGR of 19.0% from 2025 to 2035, reaching US$ 11.7 Bn by the end of 2035. This rapid expansion is being propelled by the electrification of transport, surging renewable energy adoption, and the quest for higher energy efficiency across industries.

 

SiC power devices are redefining the landscape of power electronics. Their superior performance attributes—high efficiency, rapid switching, and reliable operation at elevated temperatures—make them indispensable for critical applications such as traction inverters, battery management systems, and solar inverters.

A key growth driver is the booming electric vehicle (EV) market. As automakers scale up EV production, they increasingly turn to SiC semiconductors for their ability to manage high voltages, deliver faster charging, and extend driving range. Similarly, renewable energy projects, especially solar and wind, are incorporating SiC technology to maximize power conversion efficiency.

However, challenges remain. SiC devices are still costlier to manufacture compared to traditional silicon semiconductors, and the supply chain for high-quality SiC wafers is limited. Overcoming these constraints will be crucial for widespread adoption.

With government regulations promoting green technologies and the escalating demand for efficient energy solutions, the SiC power semiconductor market is poised to become a central pillar in the future power electronics ecosystem.

 

Market Overview

The SiC power semiconductors market is witnessing robust momentum across sectors including automotive, renewable energy, industrial automation, and consumer electronics.

SiC outperforms conventional silicon in high-temperature, high-frequency, and high-voltage scenarios. This advantage stems from its wide bandgap, high thermal conductivity, and ability to operate under extreme conditions, enabling smaller system sizes and higher energy efficiency.

By 2035, technological advances, strong OEM partnerships, and expanded application areas are expected to solidify SiC’s role as a mainstream power electronics solution.

 

Key Market Drivers

1. Growing Demand for Electric Vehicles (EVs)

The EV revolution is reshaping the automotive sector. In 2023, the global EV market was valued at US$ 255.5 Bn and is projected to reach over US$ 2.1 Tn by 2033.

SiC devices are central to this growth, powering traction inverters, battery management systems, and on-board chargers. Their high switching speeds, compact form factors, and thermal resilience make them ideal for meeting EV performance and range goals.

Additionally, SiC’s ability to handle higher voltages supports lighter and more efficient EV designs—key considerations for both passenger and commercial electric vehicles.

 

2. Need for Fast Charging Solutions

As EV adoption accelerates, so does the demand for rapid charging infrastructure. SiC semiconductors are uniquely suited to enable high-power, compact charging systems.

They allow higher power throughput with minimal energy loss, withstand extreme operating conditions, and facilitate smaller, more affordable charging stations. This directly addresses one of the biggest consumer adoption barriers: charging time.

 

Product Type Insights

The market is segmented into Diodes, Power Modules, MOSFETs, and Others. In 2024, MOSFETs led with a 37.28% share, projected to grow at a 19.9% CAGR.

SiC MOSFETs are gaining popularity due to their efficiency, versatility, and reliability in applications such as solar inverters, industrial motor drives, and advanced power supplies. Their high-temperature tolerance and switching performance make them a preferred choice for modern energy systems.

 

Regional Outlook

East Asia Leads Global Adoption

East Asia accounted for 43.3% of the market in 2024, with growth projected at 17.6% CAGR.

Countries like China, Japan, and South Korea are at the forefront of SiC technology innovation, supported by:

• Strong semiconductor manufacturing ecosystems
• Heavy EV industry investments
• Aggressive renewable energy deployment targets

Government incentives, R&D hubs, and large-scale EV programs are reinforcing East Asia’s leadership in SiC adoption.

 

Competitive Landscape

The market is moderately consolidated, with leading players focusing on R&D investments, product innovation, and strategic partnerships. Notable strategies include:

• Product Portfolio Expansion: Introducing next-gen SiC MOSFETs and diodes for higher performance and reduced cost per kW.
• Collaborations & Acquisitions: Strengthening supply chains and broadening application reach.

Key players include:

• Analog Devices, Inc.
• Coherent Corp.
• Fuji Electric Co., Ltd.
• Infineon Technologies AG
• Littelfuse, Inc.
• Microchip Technology Inc.
• Mitsubishi Electric Corporation
• NXP Semiconductors N.V.
• ON Semiconductor Corp
• Renesas Electronics Corporation
• ROHM Co. Ltd
• Semikron Danfoss
• STMicroelectronics N.V.
• Toshiba Electronic Devices & Storage Corporation
• WOLFSPEED, INC.

 

Recent Developments

• Sep 2024 – STMicroelectronics launched its 4th-generation SiC MOSFET technology, setting new benchmarks in efficiency, power density, and robustness, optimized for traction inverters in EVs.
• Jul 2024 – Onsemi introduced its EliteSiC M3e MOSFETs, designed to improve electrical system performance and reliability while lowering the cost per kW in electrification programs.