Semiconductor Gallium Oxide Market is expected to reach USD 196.23 million by 2030
As per the report published by Kings Research, the global Semiconductor Gallium Oxide Market was valued at USD 7.57 million in 2022 and is projected to reach USD 196.23 million by 2030, growing at a CAGR of 51.75% from 2023 to 2030.
The gallium oxide transistor market is being propelled by the increased adoption of gallium oxide high-voltage rectifiers transistors for power conditioning units and distribution systems. These units are widely used in various applications, such as photovoltaic solar systems and electric vehicles like automobiles, trains, and aircraft.
Additionally, gallium oxide is used in electric vehicle charging systems and to convert renewable energy sources, such as solar panels or wind turbines, to the power grid. Due to the benefits of gallium oxide in transistors, it has become a preferred choice in power distribution systems, like the use of gallium oxide transistors in power conditioning units for solar energy systems to enhance their dependability and efficacy.
- Based on the type, the power & high voltage devices segment generated the highest revenue of USD 3.21 million in 2022
- Based on technology, the molecular beam epitaxy segment dominated the market share of 38.37% in 2022
- On the basis of region, Asia Pacific accounted largest revenue of USD 2.82 million revenues in 2022
Li Auto to Expand in Number of Electric Charging Stations
Li Auto has commenced the construction of 800V high-voltage supercharging stations in Guangdong and targets the development of 3,000 charging stations by 2025. This initiative aims to enhance the charging infrastructure for electric vehicles and to extend Li Auto's footprint in the electric vehicle market.
Gallium Oxide Technology to Drive Demand for Innovative Power Electronics in Energy Applications
Power electronics play an important role in various energy applications, such as storage, transmission, and other processes. Among the promising semiconductor materials, gallium oxide (Ga2O3) stands out due to its potential for enhancing device performance and reducing the overall production cost. Ga2O3 technology is expected to drive up demand for innovative power electronics, leading to more efficient and cost-effective products.
For example, Ga2O3 can be used in high-voltage power devices, such as transistors and diodes. That said, the increasing adoption of Ga2O3 technology is projected to further fuel market demand for power electronics in the coming years.
Asia Pacific Emerges as the Leading Adopter of Gallium Oxide Technology in the Electronic Device Market
The Asia Pacific region generated the highest revenue of USD 2.82 million in 2022. The Asia Pacific region has been a leading adopter of gallium oxide due to its rapidly growing demand for electronic devices, including power electronics and optoelectronics. The region has a large and growing consumer electronics market, which has driven demand for advanced semiconductors with improved performance. Additionally, the Asia Pacific region has a well-established semiconductor industry with a strong focus on research and development, which has allowed it to be at the forefront of gallium oxide technology.
Collaborative Deals Struck Among Major Industry Players
The market is consolidated with key players such as Aluminum Corporation of China Limited, NEO, FLOSFIA Inc., Saint-Gobain, Super Conductor Materials Inc., Vital Materials Co., Limited., Absco Limited, AIXTRON, Novel Crystal Technology, Inc., Hebei Suoyi New Material Technology Co., Ltd.. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.