The global gallium nitride market size is forecast to reach US$ 298 million by 2030 by growing at a compound annual growth rate (CAGR) of 9.5% during the forecast period from 2021-2030.
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Gallium Nitride (GaN) is widely used in the manufacturing process of semiconductor power devices, RF components and, light-emitting diodes (LEDs).
Factors Influencing
- The growing demand for electronic devices is the primary factor driving the market growth. Gallium Nitride is used in the place of sapphire, silicon carbide, and silicon. The material is widely preferred because of its high benefits, such as high output power, low power usage, lower resistance, and better efficiency. Moreover, the necessity to save energy would fuel the growth of the global gallium nitride market.
- Gallium nitride semiconductor devices maintain high breakdown voltage. It is helpful in decreasing conduction loss. As a result of this, the global gallium nitride market would benefit in the coming years.
- The growing demand for hybrid electric vehicles would fuel the market growth.
- The material is preferred for advanced applications in various sectors, such as defense, military, and aerospace. Apart from that, its benefits in the 5G infrastructure would contribute to the overall market growth in the coming years.
- The availability of proficient alternatives, such as silicon carbide semiconductor devices, may slow down the market growth during the analysis period.
COVID-19 Impact Analysis
The COVID-19 pandemic slowed down the growth of the overall Gallium Nitride market due to a pause in manufacturing activities. Apart from that, the manufacturing and adoption o electric activities almost halted, which created a significant loss for the global gallium nitride market. Many multinational companies had no option but to follow government rules & regulations. This resulted in a sudden decline in trade activities.
Geographic Analysis
North America is forecast to hold the maximum share of the global gallium nitride market. It is attributed to the developing IT infrastructure, internet penetration, increasing preference for electric vehicles. Apart from that, Europe is forecast to witness notable growth because of the rapidly growing industrialization.
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The Asia Pacific market for gallium nitride would also witness substantial growth due to the increasing number of end-use industries, such as consumer electronics, industrial and automotive. Out of all the countries, China will be the major contributor to the growth of the Asia-pacific region, owing to the rising R&D investments and technological advancements.
Competitors in the Market
- Cree Inc.
- Infineon Technologies AG
- Efficient Power Conversion Corporation
- GaN Systems Inc.
- NXP Semiconductors
- Qorvo Inc
- Texas Instruments Incorporated
- Toshiba Corporation
- Epistar Corporation
- Mitsubishi Electric Corporation
- Other prominent players
Market Segmentation
Insight by Wafer Size
- 2-inch wafer
- 4-inch wafer
- 6-inch
Insight by Device
- Opto-semiconductor device
- power semiconductor device
- RF semiconductor device
Insight by Component
- Transistor
- Diode
- Rectifier
- Others
Insight by Application
- Light detection and ranging
- Wireless and EV charging
- Radar and satellite radio frequency
- Others.
Insight by End User
- Information and communication technology
- Automotive
- Renewables
- Consumer electronics
- Military & defense
- Aerospace
- Medical
- Others
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Insight by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What is the goal of the report?
- The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
- During the forecast period, the report analyzes the growth rate, market size, and market valuation.
- The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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