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High Proliferation of Electric Vehicles to Provide Ample Growth Opportunities to Gallium Nitride Semiconductor Devices Market

06-14-2022 01:26 PM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Gallium Nitride Semiconductor Devices Market Outlook

The gallium nitride semiconductor devices market has garnered a market value of US$ 1.23 Bn in 2022, anticipated to register a positive CAGR of 23% in the forecast period 2022-2032 and reach a value of US$ 11.99 Bn.

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Report Attributes Details

Over the period of 2017 to 2021, sales of modular chillers increased at a low CAGR of 1.3%, mainly due to the market being affected with the COVID-19 crisis of 2020.
North America-based modular chiller market is expected to have a revenue share of 16% in 2022, and is likely to reach a valuation of US$ 876 Mn by 2032.
Europe is presumed to hold a market value of around US$ 695 Mn by the end of 2022, owing to high technology adoption rate.
Compressor chillers, as a product type, are expected to be valued at US$ 4.5 Bn by 2032.
By capacity, above 150 ton modular chiller systems are set to hold a high market share of 47.5% by the end of 2032.
Under cooling technology, water-cooled modular chillers are expected to hold a market share of 54% in 2022.
Demand for R410A as a coolant type is expected to increase at a CAGR of 4% over the period of 2022-2032.

In the end-use sectors, industrial is expected to hold a market share of 79% by the end of 2032.

The growth of the market can be attributed to the advantages offered by GaN semiconductor devices over silicon devices. Silicon materials have been used for manufacturing electronic devices such as smartphones, computers, cameras, and televisions. During the COVID-19 pandemic, prospects for gallium nitride semiconductor devices registered multiple fluctuations, initially experiencing a downturn amid mandatory lockdowns and then eventually regaining pace.

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However, the slowdown in potential innovative properties of silicon created an opportunity for GaN semiconductor devices, which are 100 times faster than silicon. The advantages offered by GaN over silicon devices include higher energy efficiency, lower costs, and faster device speed, among others. Considering these factors, the market is projected to witness high growth over the coming years, registering a CAGR of 23% to each US$ 11.99 Bn by 2032.

What is driving the Market Demand for Gallium Nitride Semiconductor Devices?

High Proliferation of Electric Vehicles to Provide Ample Growth Opportunities

The growing number of electric vehicles worldwide is anticipated to drive the market. This is because GaN enables automakers to reduce vehicle charging time, improve cost efficiency, increase power density, and enhance driving range.

Various companies are thereby making efforts to provide GaN systems for Electric Vehicles (EV). For instance, in November 2021, GaN Systems, a GaN power semiconductors provider, announced its partnership with Universal Scientific Industrial Co., Ltd (USI), a subsidiary of ASE Technologies. The partnership was aimed toward developing GaN power modules for the EV market.

Increased Venture Capital Funding Providing Opportunities for Key Manufacturers to Flourish

Various GaN semiconductor device manufacturers receive funding from venture capital companies, which helps them to enhance their offerings and market position. For instance, in November 2021, GaN Systems, a power chip maker, announced that it raised USD 150 million in a funding round.

The company used this funding to accelerate the adoption and innovation of GaN technology across its consumer, automotive, industrial, and enterprise markets. Additionally, in February 2021, Cambridge GaN Devices, a fabless semiconductor company, raised USD 9.5 million in a Series A round. The company used the funding to expand its GaN product portfolio.

Extensive Deployment of 5G Infrastructure, Automation to Drive Growth

The demand for GaN in 5G multi-chip modules is growing for energy-efficient mobile networks. Therefore, various semiconductor companies are making efforts to integrate GaN in 5G multi-chip modules. For instance, in June 2021, NXP Semiconductors announced the integration of GaN technology into its multi-chip module. The use of GaN in multi-chip modules increased the efficiency to higher than the company's previous module.

The growing shipments of robots worldwide are also expected to drive the market. GaN is used for servo drives for motion control and robotics. According to the statistics provided by the International Federation of Robotics, there will be an increase in yearly robotic unit sales from 465 thousand units in 2020 to 584 thousand units in 2022.

The increasing need for automation in the manufacturing process and advancements in technology are some of the factors expected to drive the sales of robot units over the forecast period.

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Competitive Landscape
The competitive landscape of the gallium nitride semiconductor devices market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.

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.
Key Market Segments in Gallium Nitride Semiconductor
Devices Industry Research

By Product
GaN Radio Frequency Devices
Gallium Nitride Opto-semiconductor Devices
Gallium Nitride Power Semiconductor Devices

By Component
Gallium Nitride Semiconductor Transistor
Gallium Nitride Semiconductor Diode
Gallium Nitride Semiconductor Rectifier
Gallium Nitride Semiconductor Power IC
Other Gallium Nitride Semiconductor Components

By Wafer Size
2-inch Gallium Nitride Semiconductor Devices
4-inch Gallium Nitride Semiconductor Devices
6-inch Gallium Nitride Semiconductor Devices
8-inch Gallium Nitride Semiconductor Devices

By End Use
Gallium Nitride Semiconductor Devices for Automotive
Gallium Nitride Semiconductor Devices for Consumer Electronics
Gallium Nitride Semiconductor Devices for Defense & Aerospace
Gallium Nitride Semiconductor Devices for Healthcare
Gallium Nitride Semiconductor Devices for Industrial & Power
Gallium Nitride Semiconductor Devices for Information & Communication Technology
Gallium Nitride Semiconductor Devices for Other End Uses

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