Market Overview

Based on manufacturer shipment values, the global market size of silicon carbide (SiC) power modules (PMs) for eXtended electric vehicles (xEVs), which include hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs), is expected to reach 304.079 billion yen in 2024, a 27.2% increase from the previous year, due to increased global xEV sales.

Previously, SiC inverters with SiC PMs were only installed in large, luxury BEVs and in vehicles from emerging BEV manufacturers. However, they will likely be installed in a wider range of vehicle types, starting from new BEVs released in the second half of 2025 and through 2027.

Noteworthy Topics

Trends in Silicon Carbide (SiC) Power Module Adoption in Battery Electric Vehicles (BEVs)

The number of silicon carbide (SiC) power modules (PMs) in a vehicle depends on the structure of its drive motor. All-wheel drive vehicles (AWD vehicles) require motors at the front and the rear, whereas front-wheel drive (FWD) vehicles require a motor at the front, and rear-wheel drive (RWD) vehicles require a motor at the rear.

An AWD structure is adopted in large, luxury BEVs, in which inverters are needed one each at the front and rear, so the maximum number of SiC PMs installed is two. If SiC PMs are used in both the front and rear inverters, then two PMs are used. Sometimes, one SiC PM is used in either the front or rear and is coupled with a silicon (Si) PM in the other.  

The number of inverters for a FWD vehicle or a RWD vehicle requires one, which is widely seen in small or medium-sized BEVs. In these cases, Si PMs are usually used, as they are less expensive. However, some automakers use SiC PMs to extend electric range by improving inverter performance and reducing power supply losses from the battery to the motor.

Future Outlook

The global market size of silicon carbide (SiC) power modules (PMs) for xEVs is forecast to reach 758.668 billion yen based on manufacturer shipment values, due to the continued proliferation of xEVs.

Since the late 2020s, SiC inverters have become widely used in eAxles, drive units that integrates a drive motor, decelerator, and inverter, primarily for BEV platforms whose development is in progress by automakers. This adoption is surging in demand in the SiC PM market. Full adoption of inverters embedded with SiC PMs will likely occur not only in large, luxury BEVs, but also in medium-sized sport utility vehicle (SUVs) with AWD.

Because of their high efficiency and low power loss, SiC PMs are expected to increase electric range with a single charge. They also generate less heat, enabling a simple cooling structure and allowing inverters to be thinner. This minimizes the size of the eAxle, creating room for a flexible layout and expanding interior space in cars.

Since the late 2020s, expanded production capacity among power semiconductor manufacturers and advancements in mass production technologies have likely reduced the cost of SiC PMs. This reduction will likely lead to the adoption of SiC PMs in plug-in hybrid electric vehicles (PHEVs), in addition to BEVs.

Currently, PHEVs face challenges in improving electric-range efficiency, i.e., the battery-powered driving range of motors. Integrating highly efficient SiC PMs into inverters can enhance electric range and improve fuel efficiency. Since China is expected to increase PHEV sales, automakers are eagerly developing the next-generation PHEVs with electric-range-focused designs.  

After 2030, the demand for SiC PMs for PHEVs is expected to surge as they are applied to some PHEV models, which will boost the global market size of SiC PMs for xEVs.

Research Outline