by Gallium Nitride (GaN) is an advanced semiconductor material that has superior material properties compared to silicon and gallium arsenide. Its advantages include high breakdown voltage, high switching frequency, and ability to operate at high temperature. GaN semiconductors are increasingly being used in high-power switching applications in the automotive and consumer electronics industries.
The global Gallium Nitride (GaN) Semiconductor Market is estimated to be valued at US$ 3.36 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The expanding applications of GaN semiconductors in automotive and consumer electronics industries is a major trend fueling the growth of the market. GaN transistors are finding increasing usage in applications such as fast chargers, high-voltage power supplies, and solid-state lighting due to their high breakdown voltage, small size, and ability to operate at high frequencies. In the automotive industry, GaN technology is enabling smaller and more efficient onboard charging and power conversion systems. Consumer electronics manufacturers are also utilizing GaN to develop compact fast charging solutions and Mini LED displays with enhanced brightness and efficiency. The proliferating demand from these end-use industries is expected to considerably drive the GaN semiconductor market during the forecast period.
SWOT Analysis
Strength: GaN offers higher breakdown voltage, higher electron mobility, and better thermal conductivity compared to other materials like silicon and gallium arsenide. This makes GaN suitable for high-power applications.
Weakness: The availability of raw materials is limited and costs of GaN wafers are high compared to silicon wafers. This increases the production cost.
Opportunity: Growing demand for fast charging in consumer electronics and electric vehicles is driving the GaN semiconductor market. Its wide bandgap property makes it suitable for such high-power applications.
Threats: Established silicon semiconductor companies pose competition due to their technological expertise and economies of scale in production.
Key Takeaways
The Global Gan Semiconductor Market Size is expected to witness high growth over the forecast period of 2023 to 2030. With a estimated CAGR of 6.4%, the market size is projected to reach US$ 3.36 Bn by 2023 from US$ XX Bn in 2022.
Regional analysis comprises: The Asia Pacific region dominates the global market currently due to strong manufacturing base of consumer electronics in countries like China, South Korea, and Taiwan. Countries like China, India are expected to dominate the future adoption of GaN semiconductors in electric vehicles and related charging infrastructure roll-out.
Key players related content comprises: Key players operating in the GaN semiconductor market are Reckitt Benckiser Group Plc, Nestlé S.A., Abbott Laboratories, Groupe Danone, Royal FrieslandCampina, Baxter International Inc., Fresenius Kabi, and B. Braun Melsungen AG. These players are focusing on increasing GaN semiconductor production through expansions and partnerships to cater to the growing demand.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
