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SiC-Based Power Electronics Market: Revolutionizing Automotive & EV/HEV Applications with 60% Market Share in Asia Pacific | Valuates Reports

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BANGALORE, India, Dec. 23, 2024 /PRNewswire/ — SiC Based Power Electronics Market is Segmented by Type (SiC MOSFET Modules, SiC MOSFET Discrete, SiC SBD, Others (SiC JFETs & FETs)), by Application (Automotive & EV/HEV, EV Charging, Industrial Motor/Drive, PV, Energy Storage, Wind Power, UPS, Data Center & Server, Rail Transport)

The Global SiC Based Power Electronics Market was valued at USD 2090.3 Million in 2023 and is anticipated to reach USD 15300 Million by 2030, witnessing a CAGR of 30.0% during the forecast period 2024-2030.

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Major Factors Driving the Growth SiC Based Power Electronics Market:

The SiC-based power electronics market is experiencing robust growth, driven by rising demand in electric vehicles, renewable energy systems, and industrial automation. Silicon carbide (SiC) components offer superior performance characteristics, including higher efficiency, greater thermal stability, and faster switching speeds compared to traditional silicon-based devices. These advantages make SiC power electronics essential for applications that require high power density and reliability.

Key sectors such as automotive, energy, and consumer electronics are leading the adoption of SiC technologies, supported by advancements in manufacturing processes and decreasing costs. As industries continue to prioritize energy efficiency and sustainability, the SiC-based power electronics market is poised for sustained global expansion, offering innovative and high-performance solutions to meet the evolving demands of a dynamic technological landscape.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL SiC BASED POWER ELECTRONICS MARKET:

The automotive sector, particularly the electric and hybrid electric vehicle (EV/HEV) segment, is a primary driver of the silicon carbide (SiC) based power electronics market. As the global push towards electrification intensifies, automakers are increasingly adopting SiC components to enhance vehicle performance and efficiency. SiC-based power electronics offer superior thermal conductivity, higher voltage operation, and greater energy efficiency compared to traditional silicon-based components. These advantages translate to longer battery life, faster charging times, and reduced weight in EVs, making them more attractive to consumers. Additionally, regulatory mandates aimed at reducing carbon emissions and promoting sustainable transportation are accelerating the adoption of SiC technologies in automotive applications. The integration of SiC power electronics in motor drives, inverters, and onboard chargers is essential for meeting the stringent performance and efficiency standards required by the burgeoning EV/HEV market, thereby significantly driving the growth of the SiC-based power electronics market.

SiC MOSFET modules are significantly driving the growth of the SiC-based power electronics market due to their exceptional performance and reliability in high-power applications. These modules integrate multiple SiC MOSFETs with optimized thermal management systems, enabling efficient power conversion and reduced energy losses. Industries such as renewable energy, industrial automation, and telecommunications benefit from the high switching frequencies and low on-resistance of SiC MOSFET modules, which enhance overall system efficiency and compactness. Additionally, the scalability and modularity of these components allow for easy integration into existing power systems, facilitating upgrades and expansions. The increasing demand for energy-efficient solutions and the push for miniaturization in electronic devices further propel the adoption of SiC MOSFET modules. As manufacturers prioritize performance and sustainability, the versatility and superior characteristics of SiC MOSFET modules make them indispensable in advancing power electronics, thereby driving the market’s growth.

SiC MOSFET discrete devices are playing a crucial role in driving the SiC-based power electronics market by providing high-efficiency and high-reliability solutions for various applications. These discrete components offer excellent switching performance, higher breakdown voltages, and superior thermal management compared to their silicon counterparts. Industries such as aerospace, defense, and consumer electronics are increasingly adopting SiC MOSFET discrete devices to meet the demands for compact and efficient power systems. The ability of SiC MOSFETs to operate at higher temperatures and voltages allows for more robust and durable designs, essential for critical and high-stress environments. Furthermore, the ongoing advancements in SiC technology have led to cost reductions and improved manufacturing processes, making these discrete devices more accessible to a broader range of applications. As the need for efficient power conversion and reliable performance continues to grow, SiC MOSFET discrete devices are becoming integral components in modern power electronics, thereby driving the expansion of the SiC-based power electronics market.

The growing emphasis on energy efficiency across various industries is a significant driver for the SiC-based power electronics market. SiC components, such as MOSFETs and diodes, offer higher energy conversion efficiencies compared to traditional silicon-based devices. This efficiency is crucial for applications in renewable energy systems, electric vehicles, and industrial automation, where reducing energy losses translates to lower operational costs and enhanced performance. Governments and regulatory bodies are also promoting energy-efficient technologies through incentives and standards, further encouraging the adoption of SiC-based power electronics. As organizations strive to meet sustainability goals and reduce their carbon footprint, the superior efficiency of SiC components makes them an attractive choice, driving the market’s growth. Additionally, the ability to operate at higher frequencies and temperatures allows for more compact and lightweight power systems, catering to the increasing demand for miniaturization in electronic devices.

The expansion of the renewable energy sector is a key factor driving the growth of the SiC-based power electronics market. Renewable energy sources like solar and wind power require efficient power conversion and management systems to handle the variability and intermittency of energy generation. SiC-based power electronics offer high efficiency and reliability, making them ideal for inverters, converters, and grid-tie applications in renewable energy systems. The ability of SiC components to operate at higher temperatures and voltages enhances the performance and durability of renewable energy installations, reducing maintenance costs and increasing their lifespan. Additionally, the integration of energy storage solutions with renewable energy systems benefits from the superior switching capabilities of SiC power electronics, ensuring seamless energy flow and grid stability. As the global shift towards sustainable energy continues, the demand for advanced power electronics solutions like SiC is expected to rise, significantly contributing to market growth.

Advancements in electric vehicle (EV) technology are a major driver of the SiC-based power electronics market. The automotive industry is continuously seeking ways to improve the efficiency, range, and performance of EVs, and SiC-based components play a crucial role in achieving these goals. SiC MOSFETs and diodes enable more efficient power conversion in motor drives and onboard chargers, resulting in longer battery life and reduced charging times. Additionally, the high thermal conductivity of SiC allows for better heat management, enhancing the reliability and safety of EV power systems. The push for lighter and more compact power electronics also benefits from the superior performance of SiC components, contributing to overall vehicle weight reduction and improved handling. As automakers adopt SiC technology to meet stringent emission regulations and consumer demands for high-performance EVs, the market for SiC-based power electronics in the automotive sector is poised for substantial growth.

Government policies and incentives play a significant role in driving the growth of the SiC-based power electronics market. Many governments around the world are implementing regulations and providing financial incentives to promote energy efficiency, renewable energy adoption, and the development of electric vehicles. These policies encourage industries to invest in advanced power electronics solutions, including SiC-based components, to comply with environmental standards and benefit from subsidies or tax breaks. For instance, regulations aimed at reducing carbon emissions in the automotive and industrial sectors drive the demand for efficient SiC power devices that enhance energy conversion and reduce operational costs. Additionally, government-funded research and development initiatives support the innovation and commercialization of SiC technologies, fostering market growth. As global focus intensifies on sustainable development and clean energy solutions, supportive government frameworks will continue to propel the adoption of SiC-based power electronics across various applications. 

The expanding consumer electronics market is another critical factor driving the growth of the SiC-based power electronics market. With the proliferation of high-performance devices such as smartphones, laptops, tablets, and wearable technology, there is an increasing need for efficient and compact power management solutions. SiC power electronics offer higher efficiency and faster switching speeds, enabling the development of slimmer and more energy-efficient consumer devices. Additionally, the ability of SiC components to operate at higher temperatures enhances the reliability and longevity of electronic devices, meeting consumer demands for durable and high-performance products. The rise of emerging technologies like augmented reality (AR), virtual reality (VR), and the Internet of Things (IoT) further boosts the demand for advanced power electronics. As consumers continue to seek innovative and high-quality electronic products, the adoption of SiC-based power electronics in the consumer electronics sector is expected to accelerate, contributing significantly to market growth.

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SiC-BASED POWER ELECTRONICS MARKET SHARE:

Product Segments:

SiC MOSFET Modules dominate the market, accounting for approximately 50% of the total market share, making it the largest segment in terms of product type.

Applications:

The Automotive and EV/HEV sector emerges as the leading application area, contributing to nearly 60% of the market share, driven by increasing electrification and green energy initiatives.

Regional Insights:

Asia Pacific leads the global market, capturing around 60% of the total share, supported by robust demand and a thriving electronics industry in countries like China and Japan.

Key Players:

STMicroelectronicsROHM CO LTDInfineonWolfspeed Inc.OnsemiBYD SemiconductorMicrochip (Microsemi)Mitsubishi Electric (Vincotech)Semikron DanfossFuji ElectricNavitas (GeneSiC)ToshibaQorvo (UnitedSiC)San’an OptoelectronicsLittelfuse (IXYS)CETC 55WeEn SemiconductorsBASiC SemiconductorSemiQ, Inc.Diodes IncorporatedSanRexAlpha & Omega SemiconductorBoschKEC CorporationPANJIT GroupNexperiaVishay IntertechnologyZhuzhou Crrc Times ElectricChina Resources Microelectronics LimitedStarpowerYangzhou Yangjie Electronic TechnologyGuangdong AccoPower SemiconductorChangzhou Galaxy Century MicroelectronicsHangzhou Silan microelectronicsCISSOIDSK powertechInventChip TechnologyHEBEI SINOPACK ELECTRONIC TECHNOLOGYOriental SemiconductorJilin Sino MicroelectronicsPN Junction Semiconductor (Hangzhou)United Nova Technology

Global industry leaders include STMicroelectronics, Infineon, and Wolfspeed, collectively holding a dominant 60%+ market share, shaping the competitive landscape with innovative solutions.

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–          High Voltage SiC Power Devices Market

–          Semiconductor Silicon Carbide (SiC) Power Devices market was valued at USD 3031 Million in 2023 and is anticipated to reach USD 10950 Million by 2030, witnessing a CAGR of 18.9% during the forecast period 2024-2030.

–          Silicon Carbide (SiC) Semiconductor Devices market is projected to grow from USD 1396.6 Million in 2024 to USD 1938.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period.

–          Silicon Carbide Device market was valued at USD 3162 Million in 2023 and is anticipated to reach USD 11760 Million by 2030, witnessing a CAGR of 19.8% during the forecast period 2024-2030.

–          Silicon Carbide Epitaxial Wafer market was valued at USD 227.8 Million in 2022 and is anticipated to reach USD 1667.4 Million by 2029, witnessing a CAGR of 32.5% during the forecast period 2023-2029.

–          Silicon Carbide (SiC) Wafer market was valued at USD 1029 Million in 2023 and is anticipated to reach USD 2784 Million by 2030, witnessing a CAGR of 14.8% during the forecast period 2024-2030.

–          Silicon Carbide (SIC) Power Semiconductors market was valued at USD 3136 Million in 2023 and is anticipated to reach USD 13160 Million by 2030, witnessing a CAGR of 21.9% during the forecast period 2024-2030.

–          Silicon Carbide MOSFET market was valued at USD 2306 Million in 2023 and is anticipated to reach USD 10440 Million by 2030, witnessing a CAGR of 21.9% during the forecast period 2024-2030.

–          Gallium Nitride (GaN) and Silicon Carbide (SiC) Power Semiconductors Market revenue was USD 1016.4 Million in 2022 and is forecast to a readjusted size of USD 8713.7 Million by 2029 with a CAGR of 35.5% during the review period (2023-2029).

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The Ultimate Send-off to Summer: CSTS Debuts Global Entertainment IP PremierX at New York’s Pier 17, Ushering in a New Era of Live Entertainment

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October 24, 2026

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NEW YORK, Oct. 24, 2026 /PRNewswire/ — CSTS Enterprises (‘CSTS’), a New York-based sports, entertainment, integrated media and travel technology group, today announced the official launch of PremierXTM, its flagship live entertainment brand, with a landmark Halloween Weekend event “AFTER DARK” at The Rooftop at Pier 17 in New York on October 30, 2026.

Capping off Seaport’s 2026 Summer Season in unforgettable fashion, the grand finale brings a powerhouse lineup of stars to the PremierXTM stage at Pier 17, featuring Lil Xan, Armani White, DJ Soda, Nate Wyatt, and surprise A-list guest headliners. Set against the iconic Manhattan skyline, the landmark eventing unites chart-topping hip-hop and high-octane electronic music for a festival-grade experience as The Rooftop at Pier 17 transforms into the city’s premier live music destination.

Building on the momentum of the PremierXTM After Party for the 2026 World Cup Final that took place in New York on July 19th, “AFTER DARK” signals the official debut of PremierXTM, a proprietary, New York – born global entertainment IP created by CSTS to deliver defining cultural experiences at the intersection of music, sport, art and lifestyle. Centred on the power of cultural crossover, PremierXTM serves as an international bridge connecting East and West, modern innovation and timeless classical, while uniting world-class artists, creators, performers and audiences through the universal language of entertainment and premium live experiences.

The launch also marks the beginning of a promising relationship with Pier 17, providing a world-class stage for PremierXTM to accelerate its growth in the U.S. and engage international audiences over the long term. By combining PremierXTM’s global entertainment vision with Pier 17’s iconic waterfront setting, the partnership aims to create a premier destination for live experiences, empowering both platforms to expand their global reach, deepen audience engagement, and drive sustainable growth.

As a key pillar of CSTS’ integrated ecosystem spanning entertainment, sports, travel, integrated media and marketing solutions, PremierXTM further strengthens the Group’s ability to create high-impact experiences that connect audiences, destinations and brand partners. With the global live entertainment market projected to grow from approximately US$203 billion in 2025 to US$270 billion by 2030[1], PremierXTM is well-positioned to capitalize on the growing demand for premium, experience-led entertainment while creating long-term value to the Group through recurring audience engagement, tourism and brand partnerships.

“PremierX TM represents a significant milestone in CSTS’ evolution from a leading operator of global sports and hospitality platforms into a creator of world-class entertainment experiences,” said Abel Zhao, Group CEO and Executive Director at CSTS Enterprises. “The season finale at Pier17 marks the beginning of an exciting new chapter for CSTS as we expand our entertainment footprint and introduce a platform designed to deliver iconic live experiences and bring together artists and audiences from across the globe.”

“PremierXTM was built from the ground up as a bespoke platform to champion multicultural talent and visionary creative performers.” said Jason Liu, Regional Director of CSTS USA. “Starting from New York, we are building a scalable global brand that brings iconic live experiences to audiences worldwide while expanding our presence across key entertainment hubs in North America, Asia and Europe.”

Following its New York launch, PremierXTM plans to expand through a broader international rollout across North America, Asia and Europe, with future editions planned as part of a growing network of recurring live entertainment properties and flagship cultural events.

For ticket information on PremierXTM: “AFTER DARK”, visit
https://www.axs.com/events/1644912/after-dark-tickets

About CSTS Enterprises

CSTS Enterprises is an integrated media, entertainment, sports, and travel technology group. Headquartered in New York City, the company develops and partners with intellectual properties and brands to deliver compelling experiences that connect with audiences across the world. In addition to its own initiatives, including Generation CTM and PremierXTM, it collaborates with international IPs including FIFA World Cup, UEFA European Championship, and Formula 1.

CSTS integrates experiential marketing, travel, data, and technology to deliver seamless end-to-end audience experiences. The company engages consumers across physical events and digital channels, executing at scale worldwide, turning complex activations into co-ordinated, measurable outcomes.

[1] Source: Industry research by Markets and Markets, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030.

 

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Swanson Vitamins Launches Swanson Vitamins Nexus Pro to Champion Registered Dietitians and Licensed Nutritionists at Every Stage of Their Careers

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October 24, 2026

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New network for health and nutrition professionals offers CPEU-accredited continuing education, profession-wide promotion, practicum support and exam scholarships

FARGO, N.D., Oct. 24, 2026 /PRNewswire/ — Swanson Vitamins today launched Swanson Vitamins Nexus Pro, a network for health and nutrition professionals. The new initiative champions registered dietitians and licensed nutritionists through every stage of their careers, from students to providers with decades of experience. Created by nutrition professionals for nutrition professionals, Swanson Vitamins Nexus Pro offers educational resources, incentives and investments to support practitioners who share Swanson’s commitment to uncompromising integrity.

Swanson Vitamins Nexus Pro offers tailored resources for both practicing professionals and students. For practicing registered dietitians and licensed nutritionists, the program provides CPEU-accredited continuing education, along with profession-wide promotion of the experts who guide consumers’ wellness decisions. For dietetics and nutrition students, Swanson is investing in the next generation of the profession through practicum support and scholarships toward licensing or credentialing exam fees.

As consumers take a more active role in their health, they are increasingly turning to registered dietitians and licensed nutritionists for accurate, science-backed guidance. Through Swanson Vitamins Nexus Pro, Swanson aims to help nutrition professionals strengthen their credentials and build expertise in areas where consumers are seeking trusted nutritional support.

“Since 1969, we have been committed to uncompromising integrity in service of everyone’s journey to real wellness, and we believe real wellness starts with the experts who guide it,” said Erin Del Ponte, EVP Brand Marketing at Swanson Vitamins. “Registered dietitians and licensed nutritionists translate nutrition science into practical, personalized guidance that helps people make informed decisions about their health. With Swanson Vitamins Nexus Pro, we are proud to support these professionals at every stage of their careers, from students preparing for their credentialing exams to seasoned providers building expertise in the areas that matter most to consumers today.”

Swanson Nexus Pro program highlights

CPEU-accredited continuing education for registered dietitians and licensed nutritionistsProfession-wide promotion of registered dietitians and licensed nutritionistsPracticum support for dietetics and nutrition studentsScholarships to help offset licensing or credentialing exam fees

Applications for Swanson Vitamins Nexus Pro are open and can be submitted HERE. Additional details, including scholarship award amounts and practicum support details, will be announced in the coming weeks.

Swanson Vitamins Nexus Pro was introduced at the Food & Nutrition Conference & Expo, the Academy of Nutrition and Dietetics’ annual conference, held Oct. 24-27 in San Antonio. This initiative builds on Swanson’s longstanding commitment to the nutrition and dietetics community and reflects the company’s continued investment in the professionals who help consumers make informed choices on their journey to real wellness.

Media Assets
Photos HERE

About Swanson Vitamins
Since 1969, Swanson Vitamins has offered high-quality, science-backed vitamins and supplements rooted in one simple belief: proof over promise. Nearly six decades before “wellness” became an industry, Swanson was pioneering trustworthy supplement offerings and upholding uncompromising quality standards through intentional sourcing, rigorous in-house and third-party testing and Good Manufacturing Practices (GMP).

Today, Swanson is a Certified GMP Facility recognized by NSF, backed by an in-house team of nutritionists, dietitians, scientists, chemists and pharmacists with a combined 250-plus years of experience. With more than 1,300 products across 36 categories, Swanson doesn’t chase trends. It sets standards for integrity, quality and clarity in the supplement industry.

Swanson products are available at SwansonVitamins.com, Amazon and iHerb.com. Learn more at SwansonVitamins.com or follow @swansonvitamins on Instagram.

MEDIA CONTACT
Lauren Torrez, Crowe PR
ltorrez@crowepr.com 

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Technology Drives the Future of Travel: JETOUR Continues to Expand Its “Travel+” Ecosystem

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October 24, 2026

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WUHU, China, Oct. 24, 2026 /PRNewswire/ — Expectations for travel are evolving: vehicles are no longer simply a means of reaching a destination, but travel companions that bring people closer to nature, serving as a “mobile third space.”

JETOUR continues to advance its “Travel+” strategy, integrating technological innovation, product development, and ecosystem building into real travel scenarios. From October 20 to 23, the 2026 JETOUR Global Technology Experience Day, themed “Future Travel Starts Now,” takes place across Wuhu, Anhui and Moganshan, Zhejiang, featuring technology experiences, on-road driving, outdoor living, and conservation activities.

Technological Innovation: Expanding the Possibilities of Travel

Backed by the Group’s expertise in AI, intelligent driving, smart cabins, and AiMOGA Robotics, JETOUR turns cutting-edge technology into experiences users can genuinely feel. The XWD Fully Automatic Intelligent 4WD, with 7+X one-touch modes, tackles mountain roads, gravel, and water crossings, while the GAIA All-Terrain Intelligent Architecture adapts to diverse terrain and C-DM hybrid technology balances performance with efficiency. On October 21, models with these technologies take on mountain-road test drives at Moganshan.

A Diverse Product Lineup: Enriching the Travel Experience

The G700 combines premium comfort with hardcore off-road capability, while the T1 and T2 suit both urban driving and light off-road adventures. Roof tents, onboard refrigerators, and other ecosystem equipment turn the vehicle into an all-round companion. JETOUR also hosts a camping market and a Starry Night Forum, bringing product features into real travel settings.

Ecosystem: Extending the Value of Travel

Travel is about understanding cultures and protecting nature as well as exploration. Participants visit Xiazhu Lake in Zhejiang for a crested ibis conservation initiative. Globally, JETOUR supports cheetah conservation in Africa, turtle conservation in Malaysia, harpy eagle conservation in Panama, and protection of Pakistan’s national animal, the markhor.

JETOUR has also partnered with Chile’s Colo-Colo, FIBA, and the Malaysia Marathon, broadening engagement with local culture, sport, and communities — giving “Travel+” an ever richer meaning.

JETOUR now joins travelers worldwide across city, mountain, and wetland, exploring new possibilities through the deeper integration of technology and travel.

ABOUT JETOUR

Launched in 2018, JETOUR follows the “Travel+” strategy and has entered over 100 countries and regions, with 2,000+ sales and after-sales outlets. Its lineup includes the T Series for light off-road and the G Series for the premium luxury off-road market, covering urban commuting, family road trips, outdoor camping, and long-distance journeys.

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