Organization: The market output value of SiC power components is estimated to exceed US $2.2 billion in 2023
The third generation of semiconductors include silicon carbide (SiC) and gallium nitride (GaN), and the overall output value of which is 80% of SiC. SiC is suitable for high-voltage and high-current application scenarios, and can further improve the efficiency of electric vehicles and renewable energy equipment systems. According to the statistics of TrendForce Chibang Consulting Research, with the clarity of the cooperation projects between Ansemi, Infineon and other automotive and energy industries, the overall SiC power component market output value will reach 2.28 billion US dollars in 2023, with an annual growth of 41.4%.
The agency said that the top two applications of SiC power components are in the field of electric vehicles and renewable energy, which have reached US $1.09 billion and US $210 million respectively in 2022, accounting for about 67.4% and 13.1% of the overall market output of SiC power components. In terms of vehicle use, Ansemy signed a strategic agreement with Volkswagen (VM) to provide VM with EliteSiC 1200V main inverter power module. In addition, this series of products was also selected by Kia Corporation for EV6 GT vehicles; Wolfspeed and Benz have deepened their cooperation to provide SiC power components for their electric vehicles. In terms of renewable energy, Ansemy also cooperates with Ampt to provide SiC MOSFET required for solar energy and energy storage system optimizer; Infineon's CoolSiC has been introduced into the bidirectional inverter of Delta, which is applied to the three-in-one system of solar power generation, energy storage, and electric vehicle charging. In addition, it has also contributed to the efficiency improvement of Bloom Energy's fuel cell and electrolysis system.
It is reported that the substrate cost accounts for 49% of the silicon carbide power devices, which is also the key to determine the quality of the components. At present, Wolfspeed's silicon carbide substrate market share exceeds 60%, which is the most valued by the market. The attention of global semiconductor manufacturers to the 8-inch silicon carbide substrate is also increasing. Under the leadership of the 8-inch silicon carbide substrate launched by Wolfspeed, other suppliers will keep up and actively carry out upstream and downstream cooperation in the supply chain.
In addition, TrendForce Chibang Consulting also expects that the market output value of SiC power components will reach 5.33 billion US dollars by 2026. Mainstream applications still rely on electric vehicles and renewable energy, with the output value of electric vehicles reaching 3.98 billion US dollars and CAGR of about 38%; Renewable energy reached US $410 million, with a CAGR of about 19%