Gallium Nitride Market Report with Upcoming Trends and Applications Of 2023 | IQE plc, GaN systems, Cree Inc., Koninklijke Philips N.V., Mitsubishi Chemical Corporation

Gallium Nitride Market End-User Industry:

The end-user industries of gallium nitride are segregated into automotive, consumer electronics, defense and aerospace, healthcare, industrial & power, and others. The automotive industry is the leading segment due to the excessive use of gallium nitride in electric vehicles, locomotives, and traffic signals. According to Statista, the global passenger car production was estimated to hit 78.6 million units in 2017. This trend is going to persist in coming years and is expected to fuel the market growth during the forecast period.

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Top Market Players:
Cree Inc.
GaN systems
FUJITSU
Efficient Power Conversion Corporation
IQE plc
Koninklijke Philips N.V.
Infineon Technologies Ag
Mitsubishi Chemical Corporation
ON Semiconductor
Taiwan Semiconductor Manufacturing Company
Panasonic Corporation
Texas Instruments Incorporated
TOSHIBA CORPORATION
VisIC
Nippon Telegraph
Telephone Corporation

Industry Segments:

Based on the type, the GaN market is divided into p-type and n-type. Among these two types, n-type is projected to lead the market on account of easy availability and cheap cost. However, p-type GaN is going through patent processes undertaken by many leading players and is not being fully commercialized as of 2016. Therefore, p-type gallium nitride is holding the least share in the global gallium nitride market.

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Geographical Analysis:

The global gallium masterbatch market is segmented into five major regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The Asia Pacific is expected to witness a healthy market growth during the forecast period due to the availability of raw materials and the increasing demand for consumer electronics. North America and Europe are the leading contributors to the gallium nitride market. Countries like the U.S., Canada, and Mexico contribute due to the increased standards of lifestyles. With growing technological advances in defense, military and space science, North America and Europe are expected to be the major contributor to the market growth in coming years.

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This release was published on openPR.