What is the Future Value of the Gallium Oxide Market

According to the most recent analysis by Fact.MR, a market research and competitive intelligence company, the global Gallium Oxide Market is expected to grow at a 44.1% CAGR from 2023 to 2033, reaching $46.5 million by the end of 2033.

The increasing number of digital transformation efforts being undertaken throughout the world has resulted in strong demand for semiconductors and chips to support the modern digital revolution that is sweeping the globe. Investments in semiconductor R&D to create more powerful and efficient electronics are fast expanding, and this is expected to assist the development of gallium oxide devices in the future.

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The increasing usage of gallium oxide-powered circuits and semiconductors in automotive and energy applications is expected to create new business prospects for gallium oxide distributors over the next ten years. Expanding electric vehicle manufacturing activity is also expected to boost sales of gallium oxide transistors, LEDs, and sensors by 2033.

Key Takeaways from Market Study

In 2023, the global gallium oxide market is estimated to be worth $1.2 million.
From 2023 to 2033, gallium oxide sales are expected to grow at a staggering 44.1% CAGR.
The market is expected to reach $46.5 million by the end of 2033.
Key market drivers include increased investments in gallium oxide research and development, rising demand for high-power devices, the growing popularity of electric cars, and advances in gallium oxide technology.
The high cost of gallium oxide products is expected to be a major limitation on future market growth.
By 2023, Asia Pacific will account for more than 50% of the global market.
β-gallium oxide shipments currently account for 60% of the global market volume.

"Gallium oxide companies should invest heavily in R&D to maximize their revenue generation potential and support product innovation," says a Fact.MR analyst

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Winning Strategy

Gallium oxide suppliers should focus on expanding their markets through cooperation and partnerships with other companies. Companies should also invest more money in their R&D divisions to accelerate product introductions, giving them a competitive advantage over other market participants.

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Competitive Landscape

Leading gallium oxide firms are investing in the development of novel gallium oxide power devices tailored to specific applications in several industry verticals.

In 2022, Flosfia, a firm created in 2011 and spun off from Kyoto University in Japan, revealed plans to begin producing power semiconductor devices for automotive applications using gallium oxide. The business says that these chips can cut electric car power usage by about 10% and power loss by about 70%.

Key Companies Profiled

Chalco
NANJING JINMEI GALLIUM CO. LTD.
AGC Inc.
FLOSFIA Inc.
Liche Opto Co. Ltd.
Neo Performance Materials
Strem Chemicals Inc.
Vital Materials Co.
Super Conductor Materials Inc.
Nanoshell LLC
Nippon Rare Metal Inc.
Saint-Gobain

Asian countries are at the forefront of gallium oxide technology, but enterprises seeking diversification and a less competitive market might go to the United States, Germany, France, and the United Kingdom to boost their revenue-generating opportunities.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global gallium oxide market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on grade (4N, 5N, 6N & above), product type (α-gallium oxide, β-gallium oxide), application (substrates, others), production method (molecular beam epitaxy, chemical vapor deposition, chemical synthesis, thermal vaporization & sublimation), and end use (power & high voltage devices, electroluminescent devices, gas sensors), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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This release was published on openPR.