GALLIUM NITRIDE POWER DEVICE MARKET ANALYSIS

The global Gallium Nitride Power Device Market size was valued at US$ 178.3 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 24.65% from 2023 to 2030. Gallium nitride (GaN) is used in production of semiconductor power devices and Radio-Frequency (RF) components and light emitting diodes (LEDs). GaN powered devices have proved efficient than silicon semiconductors in power conversion, RF, and analog applications. GaN conducts electrons over 1000 times more efficiently than silicon. Moreover, the manufacturing cost of GaN devices is lower than silicon, since GaN devices are produced using standard silicon manufacturing procedures in the same factories that currently produce conventional silicon semiconductors. The devices are much smaller for the same functional performance and can be produced per wafer. GaN is lower on resistance giving lower conductance losses. The devices powered by GaN are faster that yield less switching losses and less capacitance results in less losses when charging and discharging devices. Moreover, GaN devices need less power to drive the circuit and require less space on the printed circuit board. These significant benefits of GaN over other alternatives such as silicon transistors are expected to fuel the overall growth of the GaN power device market.

Global Gallium Nitride Power Device Market Market: Regional Insights

The global GaN power device market is bifurcated into four regions, namely North America, Europe, Asia Pacific, and LAMEA. North America is the largest shareholder in the global GaN power devices market and is expected to grow at a CAGR of 34.60% during the forecast period. North America is the market leader for GaN power devices due to the presence of nations like the U.S. and Canada, where the governments are increasing their involvement in the fight against pollution by encouraging the use of EVs and HEVs, which extensively use GaN power devices. Another factor driving the growth of the GaN power device market in this region is the U.S.'s most significant defense expenditure.

Asia Pacific accounts for the largest population base and is also the largest market for key end use industries, in turn, contributing to the largest consumer base of GaN power device. According to Coherent Market Insights’ analysis, China and India contribute to around 35% of the global population base. Moreover, largest consumer base for automotive, consumer electronics, communication, and industrial manufacturing will provide the strongest growth prospects over the forecast period.

Figure 1: Global Gallium Nitride Power Device Market Share (%), By Region, 2022

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Global Gallium Nitride Power Device Market Drivers:

Rising utilization of GaN Ups Efficiency in Next-Generation Wireless Chargers

GaN power devices are employed in wireless charging applications because of their extremely high switching capability. With regard to the carrier frequency in resonant transfer, GaN transistors are superior. This enables them to transfer power over long distances in a variety of consumer, medical, industrial, and automotive applications. Consequently, enhancing the GaN devices' declining cost is just another factor driving demand for them in wireless charging applications over the forecast period, this is anticipated to spur the growth of the global GaN power device market. Further, Market players are focusing on designing chargers are seeking a competitive edge in building devices that produce higher efficiency, a smaller footprint, and lower system cost. Substituting gallium-nitride (GaN) e-mode high-electron-mobility transistor (HEMT) devices for traditional MOSFETs which is expected to boost the demand of

Growing demand of in automotive industry

GaN enables smaller, more efficient and lower cost power systems. For the automotive industry, smaller, lighter batteries, improved charging performance, and greater range for vehicles. Additionally, GaN advances capabilities in the vehicle autonomous and wireless power applications including Vehicle Electrification (Onboard Chargers & DC/DC Converters, Traction Inverters) ADAS Solutions (LiDAR autonomous control, Wireless Power Transfer). According to coherent market insights EVs are expected to grow from 2 million in 2017 to 120 million in 2035. In order to avoid electricity production and distribution. Moreover, Electronic systems in EVs and HEVs are expected to create a surge in demand for GaN semiconductor devices, particularly for control systems, motor drives, braking systems, and lighting and displays. DC-DC converters, electric motors, and inverters in various automobile body parts such as battery systems, mechanical systems, and cooling systems which is expected to boost the demand of gallium nitride power device in the industry

Global Gallium Nitride Power Device Market Opportunities:

Increased Venture Capital Funding Providing Opportunities for Key Manufacturers

Develop Venture capital firms provide funding to a number of GaN semiconductor device makers, which aids in the improvement of their product lines and competitiveness. For instance, the power chip manufacturer GaN Systems reported in November 2021 that it had raised US$ 150 million in a capital round. With the help of this finance, the company has been able to advance GaN technology acceptance and innovation throughout its consumer, automotive, industrial, and corporate industries. Additionally, fabless semiconductor company Cambridge GaN Devices raised US$ 9.5 million in a Series A round in February 2021. The company increased their GaN product line.

Global Gallium Nitride Power Device Market Trends:

Market players are focusing on GaN-based solutions emerge to meet control and charging needs

Market players are aiming to bring the benefits of GaN technology into play, power IC vendors are rolling out new devices for control and automotive charging applications. In recent years, the electronics industry has witnessed a paradigm shift in power management solutions, particularly in the realm of charging devices. The advent of gallium nitride (GaN) technology has revolutionized the way engineers approach power conversion and delivery systems, effectively challenging the long-standing dominance of silicon-based chargers. Due to which market players are focusing on product development strategies. For instance, March 20, 2023, Navitas Semiconductor next-generation power Semiconductor Company launched its GaNSense Control device, a GaN-based system-on-chip (SoC) designed for fast charging applications.

Growing demand of GaN in 5G multi-chip modules

GaN is becoming more and more popular in 5G multi-chip modules since these networks require greater energy efficiency. Many semiconductor companies are therefore working to incorporate GaN into 5G multi-chip modules. NXP Semiconductors, for instance, declared in June 2021 that GaN technology has been included into their multi-chip module. GaN was employed in multi-chip modules to increase efficiency over the company's previous offering.

Global Gallium Nitride Power Device Market Restraints:

Lack of Material avability

Less GaN Material Availability the primary barrier to the popular commercialization of GaN power devices is a lack of supply. Despite the fact that some GaN devices are easily accessible, the choice is limited. Off-line power supply that are higher than 600 volts are typically used by fewer devices. The lack of standardized device ratings and features restricts the mainstream use of GaN power devices. The greatest barrier to the widespread usage of GaN devices is the lack of true second sources for any products on the market.

Figure 1: Global Gallium Nitride Power Device Market Share (%), By Vehicle Type, 2022

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Global Gallium Nitride Power Device Market Segmentation:

The global Gallium Nitride Power Device Market report is segmented into device type, voltage rage, and end user, vertical

Based on the vertical, the global market is segmented into consumer electronics, IT and telecommunication, automotive, aerospace and defense, and others.  Telecommunication segment owns the highest market share and is anticipated to grow at highest CAGR during the forecast period. Due to its unique characteristics, such as its enormous energy band gap and high saturation electron velocity, GaN devices must operate high-power and high-speed electron devices in communications. Compared to the currently used Gallium Arsenic (GaA) devices, the GaN high electron mobility transistor (HEMT) has better properties in high power and broadband applications. Wideband power microwave systems in communication now have new prospects due to these devices' high power density and comparatively high impedance.

Global Gallium Nitride Power Device Market Market: Key Developments

In February 2021, Efficient Power Conversion Corporation launched EPC9157, which integrated Renesas ISL 81806 with EPC2218 eGAN to achieve more than 90% efficiency. Renesas ISL 81806 used the high performance of GaN to enable high-power solutions and reduce BOM cost, additionally making the design simple and similar to using silicon-built FETs.

Global Gallium Nitride Power Device Market: Key Companies Insights

The market players operating in the market are focusing on product launch and merger, acquisition strategies to expand the global presence

Some of the key players in the global Gallium Nitride Power Device Market are Cree Inc., Efficient Power Conversion (EPC) Corporation, Infineon Technologies, GaN Systems Inc., Macom, Microsemi Corporation, Mitsubishi Electric Corporation, Navitas Semiconductor, Qorvo, Inc., and Toshiba Electronic Devices & Storage Corporation.

*Definition: Gallium nitride (GaN) is a very hard, mechanically stable wide bandgap semiconductor. With higher breakdown strength, faster switching speed, higher thermal conductivity and lower on-resistance, power devices based on GaN significantly outperform silicon-based devices.