Delray Beach, Fla., Oct. 7, 2025 — The silicon carbide (SiC) market is projected to reach USD 12.03 billion by 2030, from USD 3.83 billion in 2025, at a CAGR of 25.7% according to a new report by MarketsandMarkets. Key drivers include increasing deployment of SiC devices in electric vehicles (EVs), rising demand for high-efficiency power electronics across industrial and energy applications, and expanding integration of SiC in renewable energy systems such as solar and wind. Additional growth is supported by telecom infrastructure demand, substrate and epitaxy process improvements, and government-backed initiatives and investments.

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Report highlights

Key findings

Low-voltage (1,200 V to 1,700 V) segment

The 1,200 V to 1,700 V voltage range is expected to be the second-fastest growing segment. This range is widely used in passenger EV onboard chargers, traction inverters and DC-DC converters, and is also relevant for telecommunications equipment, data centers and high-performance computing. Benefits such as faster switching, lower conduction losses and better high-temperature performance versus silicon make SiC attractive for these mid-range voltage applications. As manufacturing scales and costs decline, adoption is expected to accelerate.

Industrial vertical

The industrial sector is projected to hold the second-largest share of the SiC market. Adoption is driven by energy-efficiency and automation needs in motor drives, robotics, heavy equipment and factory automation. SiC modules and MOSFETs provide higher efficiency, lower switching losses and improved thermal performance, which are critical for continuous, high-performance industrial operations. Integration of renewable energy in industrial facilities also increases demand for SiC-based converters and inverters.

Asia Pacific leading market

Asia Pacific is expected to secure the largest share during the forecast period. The region benefits from a robust semiconductor manufacturing ecosystem, strong EV production and rapid renewable deployment. China, Japan and South Korea lead in SiC integration for EV powertrains, charging infrastructure and solar inverters, while India is emerging with growing electrification and renewables projects. Investments in wafer production and regional supply chain development are improving scalability and cost competitiveness in the region.

Competitive landscape

The report profiles key SiC companies including STMicroelectronics (Switzerland), Semiconductor Components Industries, LLC (US), Infineon Technologies AG (Germany), Wolfspeed, Inc. (US), ROHM Co., Ltd. (Japan), Fuji Electric Co., Ltd. (Japan), Toshiba Electronic Devices & Storage Corporation (Japan), Microchip Technology Inc. (US), Mitsubishi Electric Corporation (Japan), and Robert Bosch GmbH (Germany). These firms pursue product launches, capacity expansions, acquisitions, partnerships and other strategic initiatives.

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Source: MarketsandMarkets