Europe Gallium Nitride Semiconductor Devices Market Size & Outlook
Europe gallium nitride semiconductor devices market, 2018-2030 (US$M)
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Europe gallium nitride semiconductor devices market highlights
- The Europe gallium nitride semiconductor devices market generated a revenue of USD 674.7 million in 2023.
- The market is expected to grow at a CAGR of 24.4% from 2024 to 2030.
- In terms of segment, power semiconductors was the largest revenue generating product in 2023.
- GaN Radio Frequency Devices is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 674.7 million |
| Market revenue in 2030 | USD 3,117.3 million |
| Growth rate | 24.4% (CAGR from 2023 to 2030) |
| Largest segment | Power semiconductors |
| Fastest growing segment | GaN Radio Frequency Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | GaN Radio Frequency Devices, Opto-semiconductors, Power Semiconductors |
| Key market players worldwide | SMART Global Holdings Inc, Fujitsu Ltd, Infineon Technologies AG, NexGen Energy Ltd, NXP Semiconductors NV, Qorvo Inc, Texas Instruments Inc, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Europe region accounted for 26.4% of the global gallium nitride semiconductor devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,550.0 million by 2030.
Power semiconductors was the largest segment with a revenue share of 39.57% in 2023. Horizon Databook has segmented the Europe gallium nitride semiconductor devices market based on gan radio frequency devices, opto-semiconductors, power semiconductors covering the revenue growth of each sub-segment from 2018 to 2030.
The Europe region holds a prominent position in the gallium nitride semiconductor devices market and was valued at USD 270.5 million in 2016. The region is expected to grow at a CAGR of 17.9% over the forecast period.
The growing use of gallium nitride in communications and radar endapplications is expected to propel the market growth in the coming years. Furthermore, applications such as electronic warfare, Improvised Explosive Devices (IED), and jammers are expected to help increase the market demand.
Owing to the fact that European countries are moving toward green and sustainable technology, GaN is expected to find numerous new end uses in the coming years. This is evident from its characteristics that include low power consumption, very high breakdown voltage, and high resistance to temperature.
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Gallium Nitride Semiconductor Devices Market Scope
Gallium Nitride Semiconductor Devices Market Companies
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Europe gallium nitride semiconductor devices market size, by country, 2018-2030 (US$M)
Europe Gallium Nitride Semiconductor Devices Market Outlook Share, 2023 & 2030 (US$M)
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