The GaN power devices market is largely driven by expansion in the application areas for GaN-based devices due to flourishing consumer electronics industry. Moreover, increase in requirement of GaN devices for commercial RF applications and rise in demand for GaN devices for wireless charging are expected to further bring significant growth in the overall market. However, high procurement cost and processing complexity might create challenge for the overall growth of this market. GaN power semiconductor devices, the current market growth is primarily due to penetration in the medium-voltage power electronics market, mainly among medium voltage range (300V to 1KV) applications across all the major end-user verticals.
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The market for gallium nitride (GaN) is expected to grow at the highest rate between 2016 and 2022. GaN has various features such as a wider band gap, high break-down voltage, larger critical electric field, and higher thermal conductivity.
These features assist in providing higher voltages and high switching frequencies, handling higher power density, and offering enhanced power efficiency than the pure silicon (Si), Silicon Carbide (SiC), and sapphire substrate wafer technology-based devices. Hence, the power electronics market for GaN is expected to grow at a faster rate than the other materials.
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This region is home to many established power electronics manufacturing companies such as Renesas Electronics Corp. (Japan) and Mitsubishi Electric Corp.
(Japan) among others. The power electronics market in APAC is expected to grow at a high rate during the forecast period. The APAC region has emerged as a strong manufacturing hub with leading manufacturers of consumer goods increasing their manufacturing activities in this region.
Cost advantages and initiatives by different countries in this region are expected to boost the domestic manufacturing and provide further impetus for the growth of the power electronics market.
The report would help leaders/new entrants in the power electronics market in the following ways:
This report segments the power electronics market comprehensively and provides the closest market size estimation for sub segments across different regions.
The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities for market growth.
This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product launches, mergers, acquisitions, and collaborations.
The research report segments the Global GaN power devices Market based on its application into clinics, residential, and hospitals, and others. On the basis of topography, the worldwide market is separated into North America, China, Europe, Japan, India, and Southeast Asia.
The research report witnesses that North America will be a key territorial market in the general market.
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