India SiC Semiconductor Market Research Report 2027
Market Reports on India Provides the Trending Market Research Report on“India SiC
Semiconductor Market Forecast to 2027 - COVID-19 Impact and Country Analysis by Device (SIC Discrete Device and SIC Bare Die) and Vertical (Telecommunications, Energy & Power, Automotive, Military and Defense, and Others)�under Electronics category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports. The Sic Semiconductor Market was valued at US$ 29.0 million in 2018 and isprojected to reach US$ 138.5 million by 2027; it is expected to grow at a CAGR of 22.6% from 2020 to 2027. Electric vehicles have become a huge proportion of the global vehicle manufacturing mix, and in India, the electric vehicle industry is expanding swiftly. The power electronics market holds substantial growth potential for companies that are able to leverage the opportunities offered by the electric vehicle sector. Automotive giants in the country are offering electric vehicles with an aim to reduce the vehicle contribution to air pollution. For instance, Mahindra & Mahindra launched its electric vehicle; Hyundai Motor India Ltd.’s launched Kona electric SUV and sold about 300 units in seven months since its launch; Hyundai Motor India Ltd is focusing to mass-market electric car in India. The Government of India is encouraging the quicker adoption of electric vehicles in accordance with its aim to bring at least 15% of electric vehicles on the road in the next five years to manage air pollution in cities. The demand for electric vehicles is projected to surge in the country owing to the transition from silicon to SiC power electronics devices. The use of SiC boosts the electric vehicle industry, empowering greater system efficiencies and thus providing faster charging capabilities and longer-range performances while reducing cost, lowering weight, and conserving space. All the aforementioned factors are, thus, likely to support the