China's silicon carbide industry develops rapidly, and shipments will surge in 2023

In 2023, China's silicon carbide substrate material shipments increased significantly to 894,000 pieces, an increase of 297.9% over 2022. This growth is due to its wide application in new energy vehicles, photovoltaic power generation, energy storage and other fields. It is expected that by 2026, China's silicon carbide substrate production capacity will account for 50% of the global production capacity.