Silicon Carbide Market Size Worth $7.98 Billion By 2030
Silicon Carbide Industry Overview The global silicon carbide market size is projected to reach USD 7.98 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.7% over the forecast period. The rising prominence of silicon carbide in the production of Single-crystal SiC wafers is projected to aid the market growth over the forecast period. In the last few years, the consumption of single-crystal SiC wafers increased significantly, especially to manufacture electronic chips in the semiconductor industry. The increasing need to produce compact and right design electronic devices is projected to further push the product demand in the semiconductors industry. These single-crystal wafers offer limited power loss in the form of heat owing to the reduced leakage currents and wide-bandgap. Moreover, the SiC-based wafers are equipped to handle 10 times more voltage than their counterpart materials. Silicon Carbide Market Segmentation Grand...