Market Overview

Published Via 11Press: Gallium Nitride (GaN) is a wide-bandgap semiconductor material that has gained momentum in recent years as an alternative to Silicon (Si) in power devices. GaN Power Devices boast several advantages over their Si counterparts, such as higher breakdown voltage, lower on-resistance, faster switching speed and wider operating temperature range.

GaN Power Devices market size is forecast to reach USD 4595.3 million by 2033 from its current value of USD 934.7 million in 2022, rising at an annual compound growth rate (CAGR) of 17.49% between 2023 and 2033.

GaN HEMTs are the most commonly used power devices. Their high electron mobility enables faster switching speeds and lower on-resistance, making them suitable for applications such as power electronics, RF amplifiers, and DC-DC converters. GaN Schottky diodes are commonly employed as rectifiers in power electronics systems due to their low forward voltage drop that reduces power losses and enhances efficiency. Furthermore, these diodes have a higher operating temperature range than Si diodes which makes them ideal for high temperature applications. GaN VETs, similar to GaN HEMTs but featuring a vertical structure for higher current density and breakdown voltage. GaN VETs are being developed for high-power applications such as electric vehicles and renewable energy systems. GaN ICs (Integrated Circuits) are being created for power electronics uses; they combine GaN power devices with other electronic components like gate drivers and controllers to create efficient power management systems.

Key Takeaways

• The GaN power devices market expected to reach USD 934.7 million in 2022.
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• Forecasted compound annual growth rates between 2022 and 2032 is 17.49%.
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• By 2033, the GaN power devices market is projected to reach USD 4595.3 million.
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• GaN power devices boast several advantages over traditional Si-based options, such as higher breakdown voltage, lower on-resistance, faster switching speed and a greater operating temperature range.
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• GaN HEMTs are currently the most commonly used GaN power device type; they find applications in power electronics, RF amplifiers and DC-DC converters. GaN Schottky diodes can also be employed as rectifiers within these applications due to their low forward voltage drop and high temperature operation.
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• GaN VETs are being developed for high-power applications like electric vehicles and renewable energy systems, featuring a vertical structure that allows higher current density and breakdown voltage. GaN ICs, on the other hand, integrate GaN power devices with other electronic components to create highly efficient power management systems.
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• As this field continues to progress, we can expect continued improvements in performance and efficiency – leading to their increased adoption across various applications.

Regional Snapshot

• • North America: North America has a prominent position in the GaN power device market, with several companies such as Efficient Power Conversion (EPC) and Power Integrations based there. North America has become an important hub for research and development related to GaN power devices, boasting numerous research and development centers dedicated to improving this technology.
  • Asia-Pacific: The Asia-Pacific region is the leading market for GaN power devices, with countries such as China, Japan, South Korea and Taiwan dominating manufacturing and production. This region’s large electronics industry and growing interest in energy-saving solutions make it an attractive market for GaN power devices.
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  • Europe: Europe boasts a significant presence in the GaN power device market, with companies such as Infineon and STMicroelectronics based here. Furthermore, the European Union has invested heavily in research and development of GaN power devices with several initiatives designed to enhance this technology and boost adoption rates.
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  • Rest of World: Other regions such as South America, the Middle East and Africa have shown interest in GaN power devices; however their markets remain relatively small compared to other regions. As technology continues to advance and become more widely adopted, we can expect increased demand for GaN power devices in these locations as well.