The global market for silicon carbide in semiconductor applications is projected to grow at a compound annual growth rate (CAGR) of 18.12% from 2017-2021, according to a report available from Research and Markets. High demand from the solar panel industry is a key trend impacting the market. Off-grid electronic switching systems (ESSs) use rechargeable batteries to store the excess electricity that is generated from solar panels. It then delivers the stored power after sunset and on cloudy days. ESSs are crucial for power semiconductor suppliers and are gaining popularity in China and Southeast Asia. In villages, solar panels are installed in off-grid locations with an ESS to provide a power source throughout the day. 

According to the report, another driver in the market is an increased need for higher power density. Power density is a major factor in the achievement of technological advances in power electronics, especially in high-power applications. For example, electric rail traction drives, inverter systems, wind power generators, and solar power generators use power electronics devices to improve their operational efficiencies. Vendors are investing in R&D processes to develop devices that operate at higher levels of power density. Power electronics devices offer advantages such as less driving power, simplified circuits, and optimum forward and reverse blocking capabilities. This enables them to operate at higher power densities. In addition, compact power electronics device designs are best-suited for high power densities.

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