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Gallium Nitride Substrates Market Report
Gallium Nitride Substrates Market Trends, Dynamics & Market Insights
The Gallium Nitride Substrates Market is projected to grow from USD 3.2 billion in 2020 to USD 5.2 billion by 2026 at a CAGR of around 8.6% during the forecast period.
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Gallium nitride (GaN) is a hard, mechanically stable wide bandgap semiconductor. it's higher breakdown strength, low resistance, faster-switching speed, and better thermal conductivity properties. supported type, gallium nitride substrates are often categorized as GaN on Sapphire, GaN on Si, GaN on GaN, and others.
Key players operating in the Gallium Nitride Substrates market are-
The growth of the gallium nitride substrates market is primarily driven by increasing demand for LEDs, lasers, power-switching devices, and RF devices among others. Expanding the automotive industry with increasing spending on automobiles is propelling the market growth substantially. In addition to this, rising demand for highly efficient semiconductors is likely to create lucrative opportunities for the players operating in the global market in the coming years.
By application, the gallium nitride substrates market has been bifurcated into health care, automotive, military and defense, and others. The automotive segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the increasing demand for GaN LEDs in automobiles.
By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established end-use industries such as automotive, military & defense, and healthcare; and key market players such as Texas Instruments Incorporated (US). The market in Asia-Pacific is expected to be driven by rising product adoption in the end-use industries in developing countries such as China and India.
Covid-19 outbreak impacted the growth of the Gallium Nitride Substrates market negatively. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which affected the product supply for a short period.
Here is the list of the group of customers that the gallium nitride substrates market hopes to have the greatest opportunity to convert-
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The gallium nitride substrates market is expected to witness an impressive growth of 8.6% CAGR in the coming years.
Toshiba Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Texas Instruments Incorpo-rated (US), Saint-Gobain (France), Sumitomo Electric Industries, Ltd (Japan), Soitec Microelectron-ic Singapore Pte. Ltd (Singapore), Fujitsu Limited (Japan), Mitsubishi Motors Corporation (Japan), NGK Insulators, Ltd. (Japan), Infineon Technologies AG (Germany), Dongguan Sino Nitride Semi-conductor Co., Ltd (China) and PAM Xiamen (China) are among the key players in the gallium nitride substrate market.
The gallium nitride substrate market size is expected to reach USD 5.2 billion in the foreseeable future.
The automotive segment is expected to register significant growth in the gallium nitride substrates market in the coming years.
North America accounted for the largest share in the gallium nitride substrate market in 2020.
Gallium nitride substrates distributors, Gallium nitride substrates suppliers, Gallium nitride substrates manufacturers, Logistics organizations, Government bodies are the target audience in the gallium nitride substrates market.
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