At 2.7% CAGR, Europe Semiconductor Silicon Wafer Market is Projected to be Worth US$ 1,092.62 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe semiconductor silicon wafer market was valued at US$ 882.45 million in 2023 and is expected to reach US$ 1,092.62 million by 2031, registering a CAGR of 2.7% from 2023 to 2031. Increasing demand for electric vehicles and rise in preference for fabless manufacturing are among the critical factors attributed to drive the Europe semiconductor silicon wafer market growth.

Electric vehicle (EV) sales are increasing owing to concerns related to environmental protection and government policies favoring low-emission or zero-emission vehicles adoption. Governments of various countries across the globe are offering subsidies and tax rebates to citizens to increase the adoption of EVs. According to IEA's annual Global Electric Vehicle Outlook 2024, in 2023, ~14 million electric cars were sold worldwide, which is 3.5 million higher than in 2022, recording 35% year-on-year increase and bringing their total number on the roads to 40 million. This shows that the electric cars' share in the overall car market has risen to 18% in 2023, up from 14% in 2022. In 2023, many well-known electric vehicle models became credit-eligible due to changes in the Clean Vehicle Tax Credit's eligibility requirements and reductions in the cost of electric cars. For instance, sales of the Tesla Model Y surged by 50% in comparison to 2022, as it was qualified for the entire US$ 7,500 tax credit. Silicon wafers are used in the fabrication of the ICs, which are used in ADAS components, which fuels their demand among EV manufacturers. In addition, electric vehicles that incorporate silicon-based ICs can enable seamless connectivity with smartphones, voice commands, and entertainment alternatives during charging stops. Silicon-based integrated circuits are used in onboard energy management systems that intelligently distribute power from the battery to various vehicle components. By optimizing power utilization, these systems assist in extending the vehicle's range, minimizing the need for frequent charging, and addressing one of the key concerns of potential electric vehicle customers. Electric vehicles use high-capacity lithium-ion batteries to store and transfer energy to the electric drivetrain. The battery management system (BMS) monitors and controls the performance as well as the health of the battery pack. Silicon wafers play an important role in the production of BMS-related integrated circuits. Advanced BMS ICs manufactured on silicon wafers can precisely measure battery parameters such as voltage, current, temperature, and state of charge. This critical data enables the BMS to optimize battery utilization, extend battery life, and ensure safe operation, thereby improving the electric vehicle's overall efficiency and reliability. Overall, the use of silicon wafers in EV components such as inverter systems, power converters, onboard chargers, and motor drives continues to grow. Thus, the increasing demand for EVs is expected to create an opportunity for the growth of the Europe semiconductor silicon wafer market during the forecasted period.

On the contrary, manufacturing complexity hamper the growth of Europe semiconductor silicon wafer market.

By type, the Europe semiconductor silicon wafer market is segmented into Up to 150 mm, Diameter 200mm, Diameter 300mm, and Diameter 450mm. The Diameter 300mm held 67.5% share of Europe semiconductor silicon wafer market share in 2023, amassing US$ 596.02 million. It is projected to garner US$ 757.16 million by 2031 to register 3.0% CAGR during 2023-2031.

In terms of application, the Europe semiconductor silicon wafer market is segmented into consumer electronics, industrial, telecommunications, automotive, and others. The consumer electronics segment held 60.9% share of Europe semiconductor silicon wafer market share in 2023, amassing US$ 537.09 million. It is projected to garner US$ 685.68 million by 2031 to register 3.1% CAGR during 2023-2031.

Based on node type, the Europe semiconductor silicon wafer market is segmented into 180 nm, 130 nm, 90 nm, 65 nm, 45 nm, 22 nm, 14 nm, 7 nm, 5 nm and below, and others. The 7 nm segment held 23.6% share of Europe semiconductor silicon wafer market share in 2023, amassing US$ 207.93 million. It is projected to garner US$ 275.19 million by 2031 to register 3.6% CAGR during 2023-2031.

Based on country, the Europe semiconductor silicon wafer market is categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 27.0% share of Europe semiconductor silicon wafer market in 2023. It was assessed at US$ 237.94 million in 2023 and is likely to hit US$ 324.51 million by 2031, registering a CAGR of 4.0% during 2023-2031.

Key players operating in the Europe semiconductor silicon wafer market are Ferrotec Holdings Corporation; Fujimi Incorporated; GlobalWafers Co., Ltd; LONGi Green Energy Technology Co Ltd; Nano Quarz Wafer GmbH; NANOCHEMAZONE; Nanografi Nano Technology; Okmetic; PI-KEM Limited; Shin-Etsu Chemical Co Ltd; Silicon Materials, Inc.; Siltronic AG; Sino-American Silicon Products Inc.; SK Siltron Co., Ltd; SUMCO CORPORATION; and Wafer Works Corp, among others.

• In 2024: Okmetic received semiconductor giant Infineon Technologies' Best Wafer Supplier award in 2023. Infineon Technologies described Okmetic as extremely supportive, agile, and flexible and continued that it really listened to the needs.

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