The Global GaN Power Device Market is projected to reach a value of over USD 4.1 billion by 2027 at a CAGR of around 28.8%.
The Gallium nitride (GaN) is refer to a material which is used in the production of semiconductor power devices and the RF components as well as light-emitting diodes (LEDs). Whereas, GaN transistors have grown as an increase performance substitute of silicon-based transistors, with the ability of fabricating more compact devices for a given resistance value as well as breakdown the voltage as compared to silicon devices. Moreover, the GaN-based switches helps to provide a greater efficiency, power handling, as well as various other performance attributes.
Hence, these power devices can attain extremely low-resistance and high-frequency switching. These advantage of the market may lead to increase the demand of GaN power device market in the forecast period.
Market Driver:
With the rising adoption of GaN devices in electric vehicles is witness to fuel the growth of the market in the forecast period. Whereas, the electric vehicles is majorly equipped with the power modules to drive the motors at the high voltage, as it helps to reduce the current leakage in between the collector and emitter terminals. Also it will helps to improve the switching rate with the high frequency. However, the rising demand of the electric vehicles is creating a significance impact for the growth of the market. Moreover, as GaN materials is having an energy saving properties as well as has the ability to maintain the high voltage operation without losing the power. These will help EV vehicles to operate with lower switching loss, high switching speeds, enhance the power density, improved thermal budgets as well as cost reduction features.
Hence, the high voltage battery system such as Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV) also need a high power management devices to manage power from a battery to motor drivers. These may lead to increase the growth of the GaN power device market in the forecast period.
Market Restraints:
One of the major key concern of the GaN power device market is the high cost of materials which may restraining factor for the growth of the market. Whereas, these is one of the major issue of the market is the high expenditure on the industry processes in the supply chain. Also, the preference of Silicon Carbide (Sic) devices in high voltage semiconductor applications is create a restrains factor for the market growth.
Hence, the total average expenditure of per GaN power device, of all the supply chain expected to be more than the average expenditure per pure silicon semiconductor device. These will create a major challenging factor for the growth of the market in the forecast period.
The report on the GaN power device market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Type, Voltage Range, Device Type, End-User, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
GaN Power Device Market, by Type
GaN Power Device Market, by Voltage Range
GaN Power Device Market, by Device Type
GaN Power Device Market, by End-User
GaN Power Device Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE GAN POWER DEVICE MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY