Silicon Carbide Battery Market is Segmented by Type (Silicon Carbide Lithium Ion Battery, Silicon Carbide Sodium Ion Battery), by Application (Mechanical Engineering, Automotive Industry, Aerospace, Oil And Gas, Chemical Industry, Medical Technology, Electrical Industry)

BANGALORE, India , Dec. 12, 2024 /PRNewswire/ — The Global Silicon Carbide Battery Market was valued at USD 213 Million in 2023 and is anticipated to reach USD 400.6 Million by 2030, witnessing a CAGR of 8.5% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Silicon Carbide Battery Market:

The silicon carbide battery market is witnessing rapid growth, driven by rising demand for high-performance energy storage solutions across industries such as automotive, renewable energy, and consumer electronics. Silicon carbide batteries offer superior thermal stability, faster charging, and higher energy efficiency compared to traditional options, making them ideal for electric vehicles (EVs), grid storage, and industrial applications.

The automotive sector leads adoption due to the need for extended range and enhanced performance in EVs, while renewable energy projects leverage these batteries for efficient energy storage and management. Advancements in battery technology and manufacturing processes are reducing costs, further boosting market accessibility. As industries shift toward cleaner and more efficient energy systems, the silicon carbide battery market is poised for sustained global expansion.

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TRENDS INFLUENCING THE GROWTH OF THE SILICON CARBIDE BATTERY MARKET:

Silicon carbide lithium-ion batteries are a significant growth driver for the silicon carbide battery market, offering enhanced energy efficiency and durability. These batteries leverage the superior thermal and electrical properties of silicon carbide, enabling faster charging and prolonged lifespan compared to traditional lithium-ion batteries. Industries such as automotive, consumer electronics, and renewable energy are increasingly adopting these batteries to meet growing energy demands. In electric vehicles (EVs), silicon carbide lithium-ion batteries provide improved range and performance, making them a preferred choice among manufacturers and consumers. Additionally, their ability to operate efficiently at high temperatures makes them ideal for challenging environments. As technological advancements continue to improve energy density and reduce production costs, the adoption of silicon carbide lithium-ion batteries is expected to rise, driving the overall market. The increasing focus on sustainability and energy efficiency further solidifies their role in shaping the future of energy storage solutions.

Silicon carbide sodium-ion batteries are emerging as a key growth segment in the silicon carbide battery market due to their cost-effectiveness and resource availability. Sodium-ion batteries provide a sustainable alternative to lithium-ion batteries, utilizing abundant sodium resources to address supply chain challenges associated with lithium. The integration of silicon carbide enhances the performance of sodium-ion batteries, improving their energy density, thermal stability, and charging speed. These batteries are increasingly adopted in stationary energy storage systems, renewable energy integration, and grid applications where cost efficiency is a priority. Additionally, the development of advanced materials and manufacturing techniques has made silicon carbide sodium-ion batteries more competitive in commercial and industrial sectors. With growing investments in renewable energy infrastructure and the need for scalable energy storage solutions, the demand for silicon carbide sodium-ion batteries continues to rise, driving market expansion.

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The automotive industry is a major driver of the silicon carbide battery market, leveraging the advantages of silicon carbide in electric vehicles (EVs) and hybrid electric vehicles (HEVs). Silicon carbide-based batteries offer improved energy efficiency, longer range, and faster charging times, addressing key consumer demands in the EV market. Automakers are adopting these batteries to enhance vehicle performance while meeting stringent emission regulations and sustainability goals. Silicon carbide batteries are also gaining traction in autonomous vehicles and advanced driver-assistance systems (ADAS), where high energy output and reliability are critical. Furthermore, government incentives and investments in EV infrastructure have accelerated the integration of silicon carbide batteries in the automotive sector. As the global transition to electric mobility intensifies, the role of silicon carbide batteries in shaping the future of transportation continues to grow, driving significant demand and innovation in the market.

Innovations in silicon carbide material technology have significantly enhanced the performance of batteries, driving their adoption across industries. Improved thermal conductivity, energy efficiency, and durability make these batteries ideal for demanding applications, supporting market growth. Furthermore, the growing popularity of electric vehicles (EVs) has fueled the demand for silicon carbide batteries, which offer superior performance and range compared to traditional batteries. Automakers increasingly rely on silicon carbide technology to meet consumer expectations and regulatory requirements.

Renewable energy projects, such as solar and wind farms, require efficient energy storage solutions to manage intermittent power generation. Silicon carbide batteries provide high-capacity and reliable storage, driving their adoption in renewable energy applications. Furthermore, the consumer electronics sector leverages silicon carbide batteries for their compact size, fast charging capabilities, and long lifespan. Devices such as smartphones, laptops, and wearables benefit from the enhanced performance offered by these batteries, supporting market expansion.

Silicon carbide batteries align with sustainability goals by reducing energy consumption and increasing battery lifecycle. Their eco-friendly properties make them an attractive choice for industries prioritizing green energy solutions, driving market growth. Industrial sectors adopt silicon carbide batteries for heavy machinery, robotics, and power tools, where high energy density and efficiency are essential. These batteries support reliable and sustainable operations, contributing to market growth.

Governments worldwide are investing in silicon carbide battery research and development to support clean energy initiatives. Subsidies and tax incentives encourage manufacturers to adopt silicon carbide technology, boosting market expansion.

Moreover, advances in manufacturing processes have reduced the production costs of silicon carbide batteries, making them more accessible to a broader range of applications. This affordability drives adoption across sectors, supporting market growth.

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SILICON CARBIDE BATTERY MARKET SHARE

The silicon carbide battery market shows robust growth across regions. North America leads due to significant investments in electric vehicles, renewable energy, and advanced battery technologies. Europe follows, driven by stringent emission regulations and the growing adoption of clean energy solutions. Asia-Pacific is the fastest-growing region, fueled by expanding EV production, increasing renewable energy projects, and supportive government policies. Countries like China, Japan, and South Korea are at the forefront of this growth, driven by strong manufacturing capabilities and innovation in battery technology. Emerging markets in Latin America and the Middle East are also contributing, supported by rising infrastructure development and energy storage needs. These regional dynamics highlight the global expansion of the silicon carbide battery market.

Key Companies:

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• Avnet
• CIL
• CISSOID
• Coherent Corp.
• Hitachi Energy Ltd
• Infineon
• Marelli
• ON Semi
• ROHM CO LTD
• Wolfspeed Inc.
• Showa Denko
• Alpha Power Solutions (APS)
• Kallex Company Ltd
• Episil Holding Inc
• Volkswagen Group
• STMicroelectronics
• X-FAB Silicon Foundries SE
• Power Integrations
• Mitsubishi Electric Power Products Inc
• GS Yuasa Corporation
• Toshiba Corporation
• Texas Instruments
• Semikron International GmbH
• Silicon Power Corporation
• NexTech Materials

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

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CIBC, JDE Peet’s, KPMG, McCarthy Tétrault, and Sanofi to Be Recognized at Annual Gender Equity Conference and Dinner

NEW YORK, Dec. 12, 2024 /PRNewswire/ — CIBC, JDE Peet’s, KPMG, McCarthy Tétrault, and Sanofi are advancing women and inclusion through their best-in-class workplace initiatives. Catalyst, the global nonprofit promoting gender equity and workplace inclusion, will honor them with the 2025 Catalyst Award at the Catalyst Awards Conference & Dinner on 11 March 2025.

Since 1987, the Catalyst Award has recognized 115 initiatives at 102 organizations from around the world. Catalyst Award Winners lead a community of forward-thinking organizations that are developing new and innovative ways to advance talent and strengthen their organizations.

“This is exactly what building workplaces that work for women looks like in action,” said Jennifer McCollum, President and CEO of Catalyst. “These Catalyst Award-winning initiatives prove what is possible when organizations prioritize gender equity and inclusion in their workplaces with intention and investment. While progress for women is slow and stalling globally, these five companies show us how to turn that tide by implementing programs that are good for their business, their employees, and their communities.”

The 2025 Catalyst Award-winning initiatives are:

CIBC
Leading with Inclusion

CIBC, a North American financial institution, emphasizes inclusion as a business strategy. Their Leading with Inclusion initiative helped increase women’s representation by 7 percentage points among senior managers globally at the company, from 33% in 2019 to close to 40% in 2023. Representation of both women of color and other employees from talent segments historically underrepresented in the financial services industry also increased.

“At CIBC, inclusion is a cornerstone of our bank,” said Victor Dodig, President and CEO of CIBC. “Building an inclusive culture that reflects the clients and communities we serve allows for unique perspectives, experiences, and drives innovative solutions. Our entire CIBC team is honored to receive the 2025 Catalyst Award, which is a testament to our bank’s commitment to building an inclusive workplace and advancing opportunity across our industry.”

JDE Peet’s
TrueYOU: Standing Together in Our Differences

A strong governance structure guides and cascades the TrueYou: Standing Together in Our Differences strategy at JDE Peet’s, a global leader in the coffee and tea industry. Through its initiative, JDE Peet’s saw an increase in women’s representation globally from 25% to 36.4% (11.4 percentage points) on the Executive Committee, from 37.2% to 41.5% (4.3 percentage points) on the Global Leadership Team and from 23.1% to 38.5% (15.4 percentage points) on the Board of Directors.

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“At JDE Peet’s, we’re creating a future that authentically serves, reflects, and embraces everyone,” said Rafa Oliveira, CEO of JDE Peet’s. “Our commitment to diversity, equity, and inclusion — guided by our belief in ‘standing together in our differences’ — has fostered a workplace where everyone can bring their true selves to work. We are honored to see our progress recognized by Catalyst, and it is a powerful reminder that while we celebrate milestones, our journey continues, and when we unleash our full potential, we succeed as a team.”

KPMG
KPMG Accelerate

The prioritization of inclusive, diverse teams is a part of every business function throughout KPMG LLP (KPMG), the US audit, tax, and advisory firm. It is embedded not only through the governance structure and accountability mechanisms, but also through talent management. From 2014 to 2023, women’s representation increased at almost every level, including a 37.8-point increase from 22.2% to 60% in the C-suite and an 8.3-point increase from 25% to 33.3% on the Board of Directors. Representation of women of color also increased at nearly every level.

“We are incredibly proud of our efforts to advance women at all levels of our business,” said Paul Knopp, Chair and CEO of KPMG LLP. “When we bring the best people together from all backgrounds, we enhance the experience and results for our people and our clients for the long-term. By recognizing and celebrating the impactful contributions of our workforce we create a culture that lifts up everyone. This award serves as a testament to the tremendous efforts of our people and the progress we’ve made, and it inspires us to continue building a workplace where everyone feels valued and respected.”

McCarthy Tétrault
Inclusion Now

Canada-based law firm McCarthy Tétrault’s Inclusion Now strategy focuses on recruitment, retention, and advancement and has developed innovative ways of addressing obstacles to inclusion in the legal sector. Through its initiative, it increased the representation of women across the firm by 11.2 points, from 51.3% in 2019 to 62.6% in 2024.

“At McCarthy Tétrault, the collective commitment of our people to our core values has been the key to our success,” said Dave Leonard, CEO of McCarthy Tétrault. “It has allowed us to make equity, diversity, and inclusion part of what it means to be a member of our firm. Our Inclusion Now strategy enables us to focus on improving our diversity and providing an inclusive workplace for our people. Equity, diversity, and inclusion will continue to be a key part of our identity. The pursuit of gender equality in our profession continues to be a journey. We are making progress, but more needs to be done. We are honored to receive this recognition.”

Sanofi
Diversity Edge

Global healthcare company Sanofi’s Diversity Edge initiative’s dedicated policies and programs have driven a transformation internally to make it a model of inclusion. Since its gender balance ambition was launched, Sanofi saw an 8.6-point increase in women’s representation. Women currently make up 42% of executives and hold 45% of senior leadership positions.

“As a purpose-driven healthcare company chasing the miracles of science to improve people’s lives, the evolution of our organization must reflect the evolution of our society,” said Paul Hudson, CEO of Sanofi. “It’s an honor to receive the Catalyst Award, a recognition owed to our incredible teams who show up every day with the courage to create positive change in and beyond the workplace. I’m proud of the progress we are making to foster a more diverse, equitable, and inclusive culture. While there is still work to be done, I am confident we are headed in the right direction.” 

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A transformative learning and community-building experience dedicated to championing inclusive workplaces for women, the 2025 Catalyst Awards Conference & Dinner will take place in person at the New York Hilton Midtown in New York City and online.

Ticket packages and individual tickets are on sale now for both the Conference and Dinner events on 11 March.

About Catalyst

Catalyst is a global nonprofit supported by many of the world’s most powerful CEOs and leading companies to help build workplaces that work for women. Founded in 1962, Catalyst drives change with preeminent thought leadership, actionable solutions, and a galvanized community of multinational corporations to accelerate and advance women into leadership — because progress for women is progress for everyone.

Contact:
Mariana Vanin
Director, Global Communications
Catalyst
[email protected]

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ALMATY, Kazakhstan, Dec. 12, 2024 /PRNewswire/ — Kazakh environmental activists, scientists, and thought leaders are calling on the international community to address the unfolding ecological crisis of the Caspian Sea with the launch of a new global movement, Save the Caspian Sea.

Once the largest enclosed inland body of water, supporting over 270 million people across Russia, Kazakhstan, Turkmenistan, Iran, and Azerbaijan, the Caspian Sea is now in peril. Water levels are dropping at an alarming rate of 70 centimeters per year, with parts of Kazakhstan already witnessing shoreline retreats of up to 18 kilometers. By the end of the century, the sea could shrink by another 18 meters, bringing catastrophic consequences to coastal communities, local economies, and ecosystems dependent on this vital resource. The crisis is already evident in the mass die-off of rare Caspian seals, with over 4,000 carcasses discovered in just the past two years, a grim indicator of the environmental disaster unfolding.

“Despite years of discussions, conferences, and isolated NGO efforts, the situation is worsening. The Caspian Sea is at a critical turning point, and the choices we make now will define its future. It’s time for all stakeholders—governments, industries, and communities—to come together in a coordinated effort to safeguard this unique and vital ecosystem,” said Vadim Ni, environmental and climate law attorney, director of the Social and Environmental Fund, and founder of Save the Caspian Sea. “We are committed to fostering collaboration, transparency, and meaningful investments to ensure the Caspian Sea remains a source of life and prosperity for generations to come.”

The movement draws strength from its global network of partners and supporters. Among them are Kate Watters of Crude Accountability, Galina Chernova of NGO Globus Centre for Environmental Law Initiative, and Tatyana Sedova from the Extractive Industries Transparency Initiative (EITI). These partners bring expertise in corporate accountability, biodiversity conservation, and transparent governance to the campaign. “We are leveraging global expertise and resources to address this crisis and demand justice, transparency, and preservation for one of the world’s most significant ecosystems,” said Kate Watters, Executive Director of Crude Accountability.

Speaking at the movement’s launch event, Galina Chernova, a leading environmental expert and a key advocate for the campaign, emphasized the urgency of global action. “The Caspian Sea is not just a regional issue; it is a global crisis. What happens here affects ecosystems, economies, and people far beyond its shores. We are at a crossroads. This campaign is not just about saving water or wildlife—it’s about protecting livelihoods, cultural heritage, and the natural balance of our planet. Together, we can turn the tide.”

As part of its action plan, Save the Caspian Sea will focus on coordinating and promoting conservation research to inform sustainable policies and practices. The movement will also prioritize fundraising for restoration initiatives aimed at mitigating biodiversity loss and reversing environmental degradation. Additionally, it will organize international events and awareness campaigns to engage stakeholders and amplify the urgency of protecting the Caspian Sea. Finally, it seeks to develop partnerships with governments, NGOs, and corporations to foster collaborative solutions.

Save the Caspian Sea aims to engage millions worldwide through a global awareness campaign, amplified by the hashtag #SaveTheCaspian across social and traditional media platforms. By galvanizing public support, the movement seeks to pressure decision-makers into prioritizing urgent preservation efforts for this critical ecosystem.

For more information about the movement, how to get involved, or to arrange interviews with key campaign figures, please visit www.savethecaspiansea.com or contact [email protected]. 

About Save the Caspian Sea (SCS)

The Save the Caspian Sea (SCS) is an international movement dedicated to addressing the environmental challenges facing the Caspian Sea. Through advocacy, education, and collaboration, the campaign aims to preserve the sea’s unique ecosystem and ensure a sustainable future for the millions of people who depend on it.

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