Power GaN Market Overview
The global Power GaN Market size is estimated to reach $6.6 Billion by 2027, growing at a CAGR of 9.1% during the forecast period 2022-2027. Factors attributing to this market growth include the increasing adoption of efficient & compact semiconductor devices and rising applications of GaN in varied sectors like EV charging, telecommunications & consumer electronics and so on. GaN power semiconductors have high switching frequency & low energy loss capabilities, which results in their wide deployment for developing photovoltaic inverters. Additionally, the growing adoption of GaN in wireless charging devices, light detection and ranging applications has resulted in the rising demand for GaN ICs & GaN transistor devices. Such factors are set to transform the Power GaN industry outlook in the coming time.
Power GaN Report Coverage
The “Power GaN Market Report – Forecast (2022-2027)” by IndustryARC,
covers an in-depth analysis of the following segments in the Power GaN Market.
Key Takeaways
- GaN RF Power Device market is analyzed to witness the highest CAGR during the forecast period 2022-2027, attributed to increasing adoption of RF power semiconductors, growing penetration of communication networks and so on.
- IT & telecom industry dominated the Power GaN market in 2021, attributed to rising adoption of GaN in high power applications, increasing utilization of GaN in telecom applications and so on.
- APAC region dominated the global Power GaN market in 2021, attributed to growing utilization of power GaN in electric vehicles, increasing adoption of GaN power ICs and so on.
- Rising adoption of GaN transistors in consumer electronics and increasing GaN applications in electric vehicles are analyzed to significantly drive the market growth of the Power GaN market during the forecast period 2022-2027.
Global Power GaN Market Value Share, by Region, 2021 (%)
Power GaN Market Segment
Analysis - by Device Type
GaN RF Power Device market is analyzed to grow at the fastest
rate of 10.2% CAGR during the forecast period 2022-2027, attributed to increasing
adoption of RF power semiconductors in various industry verticals like
telecommunication, consumer electronics & automotive, growing penetration
of communication networks & emergence of 5G and so on. In December 2021,
Microchip Technology launched GaN RF power devices equipped with integrated
MMICs and discrete transistors as an upgrade to its existing product line.
These devices are highly powered efficient & reliable which makes them
suitable for deployment in satellite systems, commercial & defense radars
and test equipment. Such factors are propelling the growth of the GaN RF Power
Device segment within the Power GaN industry over time.
Power GaN Market Segment
Analysis - by Industry
Vertical
IT & Telecommunication sector
dominated the global Power GaN market with a share of 44% in 2021 and will
have significant growth during 2022-2027. Factors attributing to this market
growth include rising adoption of GaN in high power applications & server
power supplies, increasing utilization of GaN in switch mode power supplies in
telecom & data center applications and so on. The increasing use of GaN power
semiconductors in 5G RF solutions along with the rising trend toward GaN power
systems for data transmission is accelerating its market demands. In June 2021, NXP Semiconductors launched its
multi-chip module platform with GaN technology to enable the production of wideband
radios. This made it the first company to introduce 5G massive MIMO RF systems which
combined GaN with multi-chip modules. Such factors are accelerating the growth
of the IT & Telecommunication sector within the Power GaN industry in the coming
time.
Power GaN Market Segment
Analysis - by
Geography
APAC region dominated the global Power GaN market with a share of 37% in 2021, attributed to the growing utilization of power GaN in electric vehicles for EV charging, increasing adoption of GaN power ICs in various consumer electronic devices and so on. Increasing research & investment by key players namely Mitsubishi Electric and Navitas along with a rising application of GaN transistors in wireless charging, light Detection and ranging devices is boosting its market growth. In January 2022, Navitas established an electric vehicle Design Center in Shanghai to accelerate the adoption of power GaN in electric vehicles. These factors will assist in transforming the APAC Power GaN industry outlook over time.
Power GaN Market Drivers
Rising Adoption of GaN Transistors in Consumer Electronics is Accelerating the Growth of Power GaN Market:
The increasing adoption of GaN
transistors in consumer electronics is propelling the growth of the Power GaN
market. GaN is a versatile semiconductor material that can operate at high
temperatures and voltages, making it useful in power-management applications like
solar inverters and renewable energy storage systems. GaN Transistors are
low-power devices that improve the performance & utility of consumer
electronic devices by reducing dimension and system costs. According to the Efficient Power Conversion
Corporation report published in 2020, GaN is capable of conducting electrons
1,000 times more efficiently than silicon while also having lower manufacturing
costs resulting in their increased application in wireless charging devices. In
June 2022, Navitas declared that its next-generation GaNFast power IC is
powering the 120W ultra-fast charger included with iQOO-brand flagship iQOO 9
Pro mobile phones. These factors will eventually help in expanding the Power
GaN market size in the long run.
Increasing GaN Applications in Electric vehicles to Reduce Charging Time and Improve Cost Efficiency is Propelling the Growth of the Power GaN Market:
The rising utilization of GaN in
electric vehicles to reduce charging time and improve cost efficiency is
boosting the growth of the Power GaN market. The fast switching speed of GaN
increases the efficiency of automotive vehicles. GaN power management technology
allows automotive designers & manufacturers to drastically reduce vehicle
charging times, increase power density, reduce cost, increase driving
range as well as improve reliability. Additionally, increasing
technological advancements in GaN technology towards the development of onboard
charging systems are leading to increased adoption of GaN devices in the automotive
industry. In July 2021, STMicroelectronics launched STi2GaN, an integrated
& smart GaN solution to ensure scalability, compactness and improved performance. According to a Navitas Semiconductor
report published in 2022, GaN-based onboard electric vehicle chargers
can charge 3x faster and save up to 70% energy in comparison to silicon
solutions. These factors are set to elevate the growth of the Power GaN market size
in the coming time.
Power GaN Market Challenges
High Costs and Limited Availability of Raw Materials are Restricting the Growth of the Power GaN Market:
High costs
and scarcity of raw materials are limiting the growth of the power GaN
market. GaN devices are much more expensive than competing technologies as the
high cost & limited availability of the raw materials make them costly,
and their integration into power devices further uplifts the costs for consumer electronics. Power GaN devices are both valuable & versatile, with
a wide range of applications in power electronics, radio frequency and
television. The price of Power GaN is rising due to high demand and limited
supply. According to the Powerwaywafer report published in 2020, GaN costs around
$1900 or more for a 2-inch substrate, compared to $25-50 for a 6-inch silicon
substrate. Such factors are impeding the growth of the Power GaN industry.
Power GaN Industry Outlook
Product launches, acquisitions and R&D activities are key
strategies adopted by players in the Power GaN Market. The top 10
companies in the Power GaN market are:
- GaN Systems Inc.
- Analog Devices Inc.
- MACOM Technology Solutions Holdings Inc.
- Microsemi Corporation
- Mitsubishi Electric Corporation
- NXP Semiconductors NV
- Navitas Semiconductor
- STMicroelectronics NV
- ROHM Semiconductor
- Integra Technologies Inc.
Recent Developments
- In June 2022, GaN Systems had launched GS-065-018-2-L, a new GaN power transistor designed for compact consumer adapters.
- In March 2022, STMicroelectronics had launched VIPerGaN50, a solitary flyback converter with 650V gallium-nitride power transistor.
- In November 2021, Navitas had launched GaNFast power integrated circuits with GaNSense technology to improve reliability and robustness.
Relevant Report Titles:
Power Electronics Market - Industry Analysis, Market Size,
Share, Trends, Application Analysis, Growth and Forecast Analysis
Report Code: ESR
0121
Report Code: ESR
0013
Report Code: ESR
0739
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