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Silicon Carbide Market Size Projected to Surge $11.28 Billion Growth by 2033, Exhibit a CAGR of 11.82% [Yahoo! Finance]
Last microchip technology incorporated earnings: 2/4 04:10 pm
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US:NASDAQ Investor Relations: microchip.com/investors
The broad adoption of products for fabricating diverse semiconductors and electronic components drives market expansion. Furthermore, as the global energy demand continues to rise and the exploration of unconventional oil and gas reserves increases, the demand for silicon carbide (SiC) is anticipated to escalate throughout the forecast years. Newark, May 09, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3.69 billion in 2023 global silicon carbide market will reach USD 11.28 billion by 2033. The modernization of power grids and the transition towards smart grid technologies present opportunities for SiC-based power electronics. SiC devices enable higher efficiency, better power quality, and improved grid stability in smart grid applications such as grid-tied inverters, voltage regulators, and energy storage systems. Opportunities exist for SiC manufacturers to collaborate with utilities and grid operators to enhance grid reliability and efficiency. Furthermore,
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