Rockville , Sept. 03, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Gallium Oxide Substrate Market is expected to expand at a CAGR of 8.1% to reach US $9.7 million by the end of 2032.
A gallium oxide substrate is a foundational material made from gallium oxide (Ga2O3), used to create advanced electronic devices. These substrates are superior to alternatives due to their wide bandgap, allowing them to handle high voltages without breakdown. They have high electron mobility for efficient high-frequency operation, and their wider bandgap reduces energy loss. Gallium oxide substrates can withstand high temperatures, making them durable, and they also enable smaller device designs.
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The growth of the gallium oxide substrate market is moving forward because of several key factors. These include the substrates' wide bandgap, enabling high-voltage handling and reduced energy loss, hence catering to the demand for energy-efficient power electronics. Their high electron mobility facilitates efficient high-frequency operations, while their capability to endure high temperatures enhances device reliability.
Segmentation of Gallium Oxide Substrate Industry Research Report
| By Dopant | By Application | By Region |
| Sn | Visible/ Ultraviolet LEDs | North America |
| Fe | Power Semiconductors | Latin America |
| Others | Ultraviolet Detectors | Europe |
| APAC |
Key Takeaways:
- North American and Europe markets had witnessed a growth rate of ~7.9% and ~4.8% in 2022
- Market share of top 3 countries accounts for around 29.6%
- Under the application segment, the visible/Ultraviolet LED sub-segment dominates the market with 56.4% market share in 2022
The Gallium Oxide Substrate market is driven by the increasing demand for power electronics in electric vehicles, the rising adoption of substrates for high-power applications, and expanding research and development efforts.- Says FACTMR Expert
Report Attributes | Details |
| Forecast Period | 2022 – 2032 |
| Value Projection (2032) | US$ 9.7 Million |
| Growth Rate (2022-2032) | 8.1 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84 Tables |
| No. of Figures | 74 Figures |
Key Companies Profiled in This Report
- Kyma Technologies, Inc.
- TAMURA Corporation
- Novel Crystal Technology
- Others
Market Competition
The gallium Oxide Substrate market is fragmented, with multiple companies competing and offering diverse products within niche segments.
Currently in its early stages, the gallium oxide substrate market has witnessed a doubling of both demand and production in recent years. To bridge the demand-supply gap, industry participants are looking to increase production capacity and channel greater investments into targeted business segments. The market's strong growth has captured the attention of international investors.
- In July 2023, Mitsubishi Electric Corporation invested in Novel Crystal Technology, Inc., a Japanese company that develops gallium-oxide wafers for advanced energy-saving power semiconductors. This move supports Mitsubishi Electric's rapid development of eco-friendly technologies in line with global decarbonization efforts.
- Novel Crystal Technology is a leading producer of gallium-oxide wafers and holds the manufacturing expertise that Mitsubishi Electric will utilize to enhance its own production of gallium-oxide power semiconductors.
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Winning strategies
- Key players in the market are channeling substantial resources into research and development (R&D) endeavors. This strategic approach involves dedicating significant funds, time, and expertise to enhance the properties and capabilities of gallium oxide substrates. By investing in R&D, these players aim to push the boundaries of what the material can achieve in terms of power handling, thermal performance, and efficiency.
- Market giants are actively informing customers about the benefits and potential of these substrates. This helps make the technology more accessible, builds trust, and widens the customer base.
- Strategically building robust intellectual property (IP) portfolios is a major way to secure a competitive advantage, protect innovations, and rise above in the market. This involves filing patents for new manufacturing techniques, unique material compositions, and innovative device applications related to gallium oxide substrates. By doing so, these companies create a defensive barrier that prevents competitors from easily replicating their advancements.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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