High Electron Mobility Transistor Market Estimated to Experience a Hike in Growth By 2031

High Electron Mobility Transistor Market Expected to Reach $9.3 Billion by 2031 — Allied Market Research

WILMINGTON, DELAWARE, UNITED STATES, July 5, 2024 /EINPresswire.com/ -- The global high electron mobility transistor market share is expected to witness considerable growth in coming years owing to the availability of huge power stations for high voltage power, increase in demand for power modules, and surge in population especially in countries like China and Japan.

According to the high electron mobility transistor market analysis, ample investments and developments of HEMT devices by key players are expected to drive the growth of the HEMT market. However, the lack of standard techniques to produce and develop HEMT devices is expected to pose major threats to the market. Furthermore, the high demand for new HEMT technologies in the defense and automotive industry are expected to offer lucrative opportunities for the growth of the global high electron mobility transistor market.

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By type, the market is divided into gallium nitride (GaN), silicon carbide (SiC), gallium arsenide (GaAs), and others. The gallium nitride (GaN) segment was the highest revenue contributor, accounting for $2,739.30 million in 2021, and is estimated to reach $4,384.90 million by 2031, with a CAGR of 4.87%. This is due to the requirement of GaN HEMTs in electric and hybrid vehicles

The outbreak of COVID-19 has significantly impacted the growth of the high electron mobility transistor industry, owing to a significant impact on leading market participants. Contrariwise, the rise in demand for electric vehicle solutions in emerging countries such as India, France, and Mexico is expected to have an impact on the high electron mobility transistor market trends post-pandemic. However, the lack of accessibility of a proficient workforce because of the partial and complete lockdown instigated by governmental bodies hindered the growth of the high electron mobility transistor market. On the contrary, the evolving economies ominously witness the need for consumer and industrial electronics solutions that is expected to boost the high electron mobility transistor market.

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Region-wise, Asia-Pacific holds the top position in the global high electron mobility transistor market size, owing to the organizations taking various initiatives to build power infrastructure with advanced technologies. Organizations across verticals have realized the importance of HEMT transistor power devices to ensure power management. High demand for automated switching devices and power modules is expected to boost the high electron mobility transistor market growth.

KEY FINDINGS OF THE STUDY

• In 2021, gallium nitride (GaN) accounted for the maximum high electron mobility transistor market share and is projected to grow at a notable CAGR of 4.87% during the forecast period.
• The gallium nitride (GaN) and silicon carbide (SiC) segments together accounted for around 73.3% of the High Electron Mobility Transistor (HEMT) market share in 2021.
• Asia-Pacific contributed the major share in the High Electron Mobility Transistor (HEMT) market, accounting for around 51.3% in 2021.

The key players profiled in the report include Infineon, Intel Corporation, Microsemi, Mitsubishi, NXP Semiconductor N.V., Qorvo, Renesas Electronics, ST Microelectronics, Texas Instruments, and Wolfspeed. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition, to expand their foothold in the High Electron Mobility Transistor (HEMT) market.

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