QYResearch·2025-06-25 07:51Core Viewpoint - The article emphasizes the significant advantages of Silicon Carbide (SiC) modules over traditional silicon-based devices, highlighting their high temperature tolerance, fast switching speeds, and high mobility, which are crucial for applications in electric vehicles and other emerging technologies [1][2]. Group 1: SiC Module Characteristics and Applications - SiC modules consist of multiple SiC chips packaged through specific circuits, achieving an output power of up to 200KW [1]. - In the electric vehicle sector, SiC is primarily used in main inverters, onboard charging systems, power conversion systems, and EV charging stations [1]. - The current market share of SiC power devices is approximately 6%, indicating that the industry is still in its early development stages, allowing room for new entrants [2]. Group 2: Market Size and Growth Forecast - According to QYResearch, the sales revenue of the Chinese automotive SiC power module market is projected to reach 6.613 billion yuan in 2024, with an expected growth to 31.49 billion yuan by 2031, reflecting a compound annual growth rate (CAGR) of 20.05% from 2025 to 2031 [5]. - The 1200V SiC module is currently the dominant product type, expected to capture 96% of the market share by 2031 [12]. Group 3: Competitive Landscape - The core manufacturers in the Chinese market include ON Semiconductor, BYD, Infineon, and Bosch, with the top seven companies accounting for approximately 94% of the market share in 2024 [10]. - The industry is witnessing a trend towards increased concentration, with leading companies gaining scale advantages through mergers and capacity expansion, while smaller firms may face challenges due to technological obsolescence [17]. Group 4: Industry Trends and Drivers - The industry is expected to experience three main trends: larger sizes and cost reduction through the adoption of 8-inch SiC substrate technology, diversification of application scenarios beyond electric vehicles, and a reshaping of the competitive landscape [17]. - The penetration of electric vehicles is rapidly increasing, with an expected production of 12.888 million units in China in 2024, leading to a significant rise in the adoption of SiC devices in high-voltage platforms [19]. - Government policies encouraging local chip procurement are providing a favorable environment for domestic SiC module manufacturers [20].