Shockingly Good: SiC Revenues Reach $3 Billion by 2024, says Semico Research

Silicon Carbide (SiC) is a wide bandgap material and can be used for discrete components such as Schottky diodes and MOSFETs as well as bare die in power modules. Wide bandgap (WBG) refers to materials that permit devices to operate at much higher voltages, frequencies and temperatures than conventional semiconductor materials like silicon and gallium arsenide. It offers many advantages, including higher thermal conductivity that results in more efficient heat transfer and a lower on-state resistance that decreases conduction losses. In addition, SiC-based components are capable of higher switching frequencies, allowing for smaller magnetics, which can greatly decrease system size. A new report from Semico Research, SiC: Smaller, Faster, More Efficient (MA120-20) says SiC revenues will reach $3 billion by 2024.
 
"The fact that wide bandgap devices can operate at high voltages, temperatures, and frequencies make these devices optimal for battery charging, solar inverters, and 5G demands for a wider spectrum band with faster throughput. Growing demand for improved energy efficiency and longer-lasting batteries are helping to drive the wide bandgap market in automotive applications," says Joanne Itow, Manager of Manufacturing Research at Semico. "However, we believe the real reason for the increased interest in SiC is the use of SiC MOSFETs in the Tesla Model 3 inverter and the potential impact on other SiC end-use markets."
 
Key findings in the report include:

• SiC unit revenues increase at a 29% CAGR over the forecast period.
• Over 69% of the SiC units sold in 2019 can be attributed to the automotive sector.
• Communication (5G) and Computing (data centers) are the two categories that experience an increase in SiC usage as a percent of the total.
• Tesla Model 3 is expected to utilize 18 million SiC MOSFETs for the inverter.

Semico's new report SiC: Smaller, Faster, More Efficient (MA120-20), examines this technology, its advantages, the current market, its forecasted growth (5-year) and review of those companies working with SiC including: Cree,Inc./Wolfspeed, Infineon, Microchip Technology Inc., Mitsubishi Electric Corporation, ON Semiconductor, Renesas, Rohm Co, Ltd., STMicroelectronics, and UnitedSiC.