Silicon Carbide Market Size & Share Report, 2028
Silicon Carbide Market The Silicon Carbide Market is predicted to reach USD 2,967 Million by 2028, exhibiting a CAGR of 18.5% over the forecast period (2021-2028). The factors driving the growth of Silicon Carbide Market includes rising application of silicon carbide in automotive, power and steel industries and increasing demand for electric vehicles and hybrid cars across the world. As per the report published by Bloomberg, the Global Electric Vehicle Market is anticipated to reach $823.74 billion by the end of 2030, growing at a robust CAGR of 18.2% during the forecast period (2021-2030), which will accelerate the demand of Silicon Carbide for manufacturing electric vehicles in the approaching years. Moreover, the increasing Government initiatives to boost the production of solar lights for electrification in the rural areas and rising demand for consumer electronics, have propelled the Global Silicon Carbide Market . As per Times of India, the Indian Government targets to gen...