GaN Power Devices Market

Global GaN Power devices market is expected to grow at an exponential CAGR of 57.4% during the forecast period (2022-2030). The global GaN Power device market is primarily driven by growing demand of GaN in commercial radio frequency application, high adoption of GaN in electric vehicle, escalating demand for wireless charging and reduction in prices of GaN devices. The escalating demand of GaN power devices in wireless charging is also proven to be the major driving element of global GaN power device market.  The trend of wireless charging is paving the way for GaN power devices. Wireless charging is highly adopted in smartphones and electric vehicles. Moreover, there are various initiatives across the globe regarding the up surge of wireless charging. 

Discrete Power Devices take Over 50% of the Market Share

The global GaN power device market has been segmented on the basis of device type and Industry vertical. The device type segment is further sub segmented into GaN power discrete devices, GaN power ICs and GaN power module. GaN power discrete devices leads the device type segment in terms of revenue in the global GaN Power device market with over 50.84% market share in 2021. The discrete power devices include transistor, field effect transistors, MOSFETS, and others. The primary reason for the dominance of discrete GaN power devices is the ease of fabrication of these devices as compared to integrated circuits and modules. Further discrete power devices also offer more design flexibility in a power system. The presence of large number of companies manufacturing discrete devices as compared to companies involved in IC and module manufacturing have also aided the growth of discrete power devices market.

GaN Power Module Market to Grow the Fastest

Moreover, the global GaN power module market is anticipated to be the fastest growing market with a CAGR of 23.3% during the forecast period. Gallium nitride power modules find application in inverters for renewable energies as solar power, wind turbines panels, and tidal power plants. The wide band gap semiconductor such as GaN based inverters can convert the DC electricity generated from solar and wind energy into the AC electricity reducing losses by upto 50%. High investment in the smart grid infrastructure are expected to drive the market for the GaN power modules.

ICT to Lead the Application Segment

Information and communication technology sector leads the application segment in global GaN power device market by capturing largest market share of over 26% in 2021. GaN Power device market in information and communication technology sector is anticipated to rise at a CAGR of 22.9% during forecast period. In ICT sector, data centers and base station in the telecommunication are the primary consumers for GaN power devices. The use of advanced power electronics techniques, like DC distribution networks and efficient power amplifiers based on wide band gap semiconductors such as GaN may result to ~10 % reduction of the required energy in the data centers and ~30 % of electrical energy savings may be achieved in Radio Base Stations (RBS). Thus, high energy efficiency achieved through use of GaN power devices act as the major driver for adoption of GaN power devices globally. Further, technological advancements in GaN power device have also promoted the adoption of GaN power devices.

North America to Lead, APAC to Grow the Fastest

Geographically, the global GaN Power device market has been segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). North America leads the global GaN Power device market by capturing largest market share in terms of revenue of 37.22 % in 2021.

North American GAN Power device market is primarily driven by high investments in the development of Gallium nitride power devices. The grant is awarded in order to make wide band gap semiconductors such as silicon carbide and gallium nitride more cost-competitive compared to silicon based power electronics. The Government of USA and Canada which are proactively involved in development of new gallium nitride based power devices to curb to power conversion losses.

For instance, department of energy, US launched Power America program that set a goal that by 2030, 80% of all U.S. electricity will flow through power electronics. Moreover, Asia pacific is anticipated to be the fastest growing region with a CAGR of 24.3% during the forecast period. The Asia Pacific GaN power device market is primarily driven by high funding for development of GaN based power devices. Further the surge in the number of electric vehicles in Asia Pacific is also expected to positively influence the growth of gallium nitride power device market. As it is expected that GaN based inverters would replace silicon based power semiconductor devices used in electric vehicles.

India is The Most Lucrative Destination

India GaN Power device market is expected to rise at a highest CAGR of 25.6% in the forecast period. The GaN power device market in India is driven by high government funding for the development of GaN power devices coupled with rise in consumer electronics sales and high investment to develop HVDC link in India. Further, rising consumer electronics industry is also expected to influence the GaN power device market in India. GaN power have its one of primary application in the sector in consumer electronics as use of Wide band gap semiconductors material such as gallium nitrate can reduce energy losses eliminating up to 90% of the power losses that occur during AC-to DC and conversion as per U.S. Department of Energy. Also, GaN handles high voltage operations more than 10 times higher than Si based devices which enhances performance in high power applications. As per the IBEF organization, India is one of the largest growing electronics market in the world. Thus, rising consumer electronics in India is expected to grow market of GaN power device market in India.

Product Launch is The Key Strategy Among Top Players

Product launch is the primary strategy adopted by companies in GaN power device market. New and advanced products help to improve company’s market visibility while competing effectively with key competitors already present in the market.Merger and acquisition is the secondary strategy adopted by companies in the global GaN power device market. The companies increase their dominance and market share by acquiring other companies to increase their product portfolio. M&A also enables the companies to expand their market in unexplored regions.Merger and acquisition is the secondary strategy adopted by companies in the global GaN power device market. The companies increase their dominance and market share by acquiring other companies to increase their product portfolio. M&A also enables the companies to expand their market in unexplored regions.Top companies in the market include Efficient Power Conversion Corporation, On Semiconductor, Infineon Technologies AG, GAN Systems, Panasonic Corporation and Others.

Historical &Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

By Devices (2020-2030; US$ Mn)

• GaN power discrete devices
• GaN power IC’s
• GaN power module

By Vertical (2020-2030; US$ Mn)

• Consumer electronics
• IT & Telecommunication
• Automotive
• Aerospace and Defence
• Others

By Region (2020-2030; US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

• Pre Covid-19 situation
• Post Covid-19 situation

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
• What is the key impact of Covid-19 over market revenues and market determinants in the global GaN Power devices market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?