Power GaN Market - Forecast(2024 - 2030)

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:

1. GaN Systems Inc.
2. Analog Devices Inc.
3. MACOM Technology Solutions Holdings Inc.
4. Microsemi Corporation
5. Mitsubishi Electric Corporation
6. NXP Semiconductors NV
7. Navitas Semiconductor
8. STMicroelectronics NV
9. ROHM Semiconductor
10. 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.

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