Core Viewpoint - The global N-type SiC substrate industry is expected to see a revenue decline of 9% in 2024, reaching $1.04 billion, due to weakened automotive and industrial demand, increased market competition, and significant price drops [1] Group 1: Market Trends - Despite facing dual pressures of weak demand and oversupply in 2025, the long-term growth trend for SiC substrates remains intact, driven by decreasing costs and advancements in semiconductor technology [1] - The market competition is anticipated to accelerate corporate consolidation, reshaping the industry landscape [1] Group 2: Supplier Market Share - Wolfspeed maintains its position as the leading supplier with a market share of 33.7% in 2024, despite operational challenges [2] - Chinese companies TanKeBlue and SICC are rapidly developing, with market shares of 17.3% and 17.1%, respectively, ranking second and third [2] - The top four suppliers collectively hold an 82% market share, with Wolfspeed still leading [3] Group 3: Substrate Size Dynamics - The 6-inch SiC substrate is expected to continue dominating the market due to rapid price declines, while the 8-inch substrate is seen as essential for cost reduction and technology upgrades [4] - TrendForce predicts that the shipment share of 8-inch SiC substrates will exceed 20% by 2030 [4]