Global Gallium Nitride Market Report 2021: Market was Valued at $270.00 Million in 2020 and is Expected to Reach $2,956.03 Million by 2031, Growing at a CAGR of 24.65

DUBLIN, Jan. 12, 2022 /PRNewswire/ -- The "Gallium Nitride Market - A Global and Regional Analysis: Focus on Application, Substrate Type, and Country-Wise Analysis - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The global gallium nitride market was valued at $270.00 million in 2020 and is expected to reach $2,956.03 million by 2031, growing at a CAGR of 24.65% between 2021 and 2031.

The gallium nitride market is driven by several factors such as use of GaN in electric vehicles to increase their efficiency, continuous technological advancement in GaN ecosystem, suitability of GaN in radio frequency (RF) applications, and its property which can sweep off silicon from the market.

Gallium Nitride Market

Gallium nitride (GaN) is a very hard and mechanically stable wide bandgap (WBG) semiconductor, as it has a hexagonal crystal structure. The critical factors of gallium nitride material responsible for its adoption in the market are reliability, compact size, high efficiency, fast switching speed, low on-resistance, and high thermal conductivity, among other types of semiconductors such as silicon (Si) and silicon carbide (Sic).

The gallium nitride market has been developing significantly since 1990, and much can be attributed to the technological advancements in this field. The ecosystem of the gallium nitride market comprises GaN wafers manufacturers, GaN epitaxy producers, GaN device processing companies, GaN module manufacturers, and end users. The market is still developing, with North America at the forefront, followed by Europe, Asia-Pacific, the U.K., China, and Rest-of-the-World.

Market Segmentation

Gallium Nitride Market by Application

Among different gallium nitride applications, RF devices dominate the market and are expected to be the largest application during the forecast period. The growing use of gallium nitride in the RF devices application segment is majorly subjected to its high-performance, high-efficiency delivery, and reliable semiconductor material for these devices. Companies working on GaN-based RF devices are investing heavily in the research and development of gallium nitride technology.

Gallium Nitride Market by Substrate Type

Among different gallium nitride substrate types, GaN-on-Si dominates the market and is expected to be the largest substrate type during the forecast period. The dominance of GaN-on-Si substrate is attributed to wide use in the applications of gallium nitride such as RF devices (wireless infrastructure, aerospace and defense, satellite communication, point-to-point-radio, others), optoelectronics (LED, laser, others), power electronics (power supply, EV/HEV, LiDAR, server and data centers, wireless power, solar photovoltaic, envelop tracking, UV detector, others).

This substrate is widely accepted by the electronic industry, which prefers bulk substrates for commercializing its GaN-based products. However, GaN-on-Si is being preferred over GaN-on-SiC. Ongoing research work is being conducted to remove cost restraints, to deliver high-quality devices based on Si substrate material. GaN-on-Si devices offer high voltage features on appreciably reduced chip sizes.

Gallium Nitride Market by Region

The demand for gallium nitride varies according to various regions. The gallium nitride market holds a prominent share in various countries of North America, Asia-Pacific and Japan, Europe, the U.K., China, and Rest-of-the-World, among which North America was the largest region for gallium nitride market in 2020 in terms of value.

Industrial advancements, extensive investments for dedicated R&D facilities, and the development of different application products that require gallium nitride are some of the major drivers that are currently propelling the growth of the global gallium nitride market in North America.

Key Market Players and Competition Synopsis

The companies that are profiled in the report have been selected based on a selective pool of players, primarily Tier-1 (holding 50-60% of the market) and mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolios, annual revenues, market penetrations, research, and development initiatives, along with a domestic and international presence in the gallium nitride industry.

• Wolfspeed, Inc.
• Furukawa Co., Ltd.
• IQE PLC
• Infineon Technologies AG
• Mitsubishi Chemical Corporation
• SOITEC
• FUJITSU
• Qorvo, Inc.
• Semiconductor Components Industries, LLC
• American Elements
• Taiwan Semiconductor Manufacturing Company Limited
• DOWA Electronics Materials Co., Ltd.
• Kyma Technologies, Inc.
• Powdec K.K.
• Shanghai Famous Trade Co., Ltd.

Key Questions Answered in the Report

• What are the major factors and trends that are impacting the gallium nitride market, and how the COVID-19 has affected the market?
• What are the steps taken by the existing players to improve their market positioning, and is there any substitute used in the end-use industry for gallium nitride?
• Which are the leading types and applications in the market, and how are they expected to perform in the coming years?
• What are the latest developments across the globe with respect to research and development, and what would be the trending technology used in the gallium nitride market?
• What are the consumption patterns of gallium nitride across different regions and countries? Moreover, is there any government regulation across the globe impacting the gallium nitride market?

Market Report Coverage - Gallium Nitride

Market Segmentation

• Application: Radiofrequency (RF) Devices, Optoelectronics, Power Electronics
• Substrate Type: GaN-on-Si, GaN-on-Sapphire, GaN-on-SiC, Others

Market Growth Drivers

• GaN Technology Propelling the Growth of Electric Vehicles Efficiency
• Continuous Emergence of Technologies in GaN Ecosystem
• Suitability of GaN in RF Applications
• Increasing Adoption of GaN RF Semiconductor Devices for Defense and Aerospace Applications
• Glass-Like Material and GaN Holding the Potential to Sweep off Silicon from the Market

Market Challenges

• Higher Efficacy of GaN Alternative Such as Silicon Carbide for High-Voltage Semiconductor Applications
• Limited Production of GaN May Act as a Hindrance to the Growth of GaN

Market Opportunities

• Potential Use of GaN in 5G Infrastructure Development
• GaN Technology Strike a Ray of Advancement for Space Industry

For more information about this report visit https://www.researchandmarkets.com/r/ejb84m

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