| Source: Research and Markets
Dublin, Jan. 22, 2025 (GLOBE NEWSWIRE) — The “GaN Power Devices – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for GaN Power Devices was estimated at US$346.5 Million in 2023 and is projected to reach US$2.2 Billion by 2030, growing at a CAGR of 30.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
These devices are widely used in fast-charging adapters, electric vehicles, and renewable energy systems where compact, efficient power is crucial. The superior properties of GaN allow for devices with lower resistance and higher thermal conductivity, which translates to faster operation, lower power loss, and enhanced performance in various applications.
The growth in the GaN power devices market is driven by several factors, including increased demand for efficient power solutions, advancements in consumer electronics, and expansion in renewable energy applications. GaN technology’s superior energy efficiency and thermal properties make it ideal for applications ranging from fast-charging electronics to electric vehicles and solar power systems.
The global shift toward energy-efficient electronics, alongside governmental emphasis on reducing emissions and promoting renewable energy, is accelerating demand for GaN devices. Additionally, the rising adoption of 5G technology and data centers, which require high-performance power systems, is fueling the market`s expansion. These factors collectively position GaN power devices for sustained growth across multiple high-impact industries.
How Are GaN Power Devices Shaping Renewable Energy Applications?
The renewable energy sector is adopting GaN power devices to improve efficiency and reduce energy losses in solar inverters, wind turbines, and grid applications. GaN technology’s high power density is particularly beneficial in renewable energy systems, allowing for compact designs and improved energy conversion rates.
With governments globally pushing for greener energy sources, GaN devices are expected to play a vital role in making renewable energy systems more efficient and reliable. This technology supports clean energy goals by optimizing energy output, thereby lowering the environmental impact of renewable power sources.
Why Is Demand for High-Efficiency Electronics Increasing?
With consumer electronics trending toward higher performance and smaller form factors, the demand for GaN power devices is on the rise. These devices are particularly relevant in fast-charging applications, including mobile devices and laptops, where efficient power conversion is crucial.
GaN power devices also enhance the performance of electric vehicles and industrial machinery by reducing power loss and heat production, extending battery life and improving energy efficiency. The demand for GaN technology is further amplified by its integration into data centers and 5G infrastructure, where energy efficiency is paramount to reducing operational costs.
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