GaN Semiconductor Devices Market Size 2023-2029
The global GaN Semiconductor Devices market was valued at US$ 1040.4 million in 2022 and is projected to reach US$ 4245.5 million by 2029, at a CAGR of 22.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
GaN semiconductor devices are electronic components that utilize Gallium Nitride as the semiconductor material. GaN, known for its wide-bandgap properties, offers significant advantages over traditional semiconductors like silicon.
These devices are designed to operate under high frequencies, high voltages, and high-temperature conditions, making them suitable for a wide range of applications, including power electronics, RF devices, and optoelectronics. GaN semiconductor devices provide several benefits such as high power density, low on-resistance, high breakdown voltage, and fast switching speed.
Total Market by Segment: Global GaN Semiconductor Devices Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (K Units)
GaN Power Devices:
Schottky Diodes: This type of GaN power device holds 30% of the GaN power device market. Schottky diodes are known for their fast switching speed, low forward voltage drop, and high-temperature operation capabilities. They are commonly used in power rectification, voltage clamping, and power conversion applications.
Field Effect Transistors (FETs): FETs dominate the GaN power device market, accounting for 70% of the market share. GaN FETs offer high power density, low on-resistance, and high-speed switching characteristics. They are widely used in applications such as power supplies, electric vehicles, renewable energy systems, and wireless charging.
Further, the report presents profiles of competitors in the market, key players include:
Toshiba
Wolfspeed
GaN Systems
Infineon Technologies
Efficient Power Conversion (EPC)
Mitsubishi Electric
STMicroelectronics
Transphorm
NexGen
ROHM Semiconductor
Sumitomo Electric Device Innovations Inc (SEDI)
Qorvo
MACOM
Renesas Electronics
Dynax Semiconductor
Jiangsu Corenergy Semiconductor
Ampleon
Innoscience
NXP Semiconductors
NTT Advanced Technology Corporation
Texas Instruments Incorporated
Key Questions:
What was the global market value of GaN semiconductor devices in 2022?
- The global GaN semiconductor devices market was valued at US$ 1040.4 million in 2022.
What is the projected market value for GaN semiconductor devices by 2029?
- The GaN semiconductor devices market is projected to reach US$ 4245.5 million by 2029.
What is the expected compound annual growth rate (CAGR) for the GaN semiconductor devices market during the forecast period?
- The GaN semiconductor devices market is expected to grow at a CAGR of 22.3% during the forecast period.
Who are the key players in the global GaN semiconductor devices market?
- Key players in the GaN semiconductor devices market include Toshiba, Wolfspeed, GaN Systems, Infineon Technologies, and others.
What is the market share of the top five manufacturers in the global GaN semiconductor devices market?
- The top five manufacturers hold a market share of over 88% in the global GaN semiconductor devices market.
Which region is the largest producer of GaN semiconductor devices?
- North America is the largest producer of GaN semiconductor devices and holds a market share of over 45%.
What is the largest segment in terms of product in the GaN semiconductor devices market?
- GaN RF devices is the largest segment in the GaN semiconductor devices market, with a market share of over 82%.
What is the largest application segment in the GaN semiconductor devices market?
- Consumer electronics is the largest application segment in the GaN semiconductor devices market, with a market share of over 63%.