PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498790
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498790
Automotive GaN Technology Market size was valued at USD 1,009.21 Million in 2023, expanding at a CAGR of 89.09% from 2024 to 2032.
The Automotive GaN Technology Market is the market sector dedicated to the use of Gallium Nitride (GaN) technology in automotive applications. Vehicle power electronics systems use GaN technology to increase efficiency, reduce size and weight, and improve overall performance. This market focuses on the research, manufacture, and deployment of GaN-based solutions for a variety of automotive components, including onboard chargers, power systems, ADAS (Advanced Driver Assistance Systems), and more.
Automotive GaN Technology Market- Market Dynamics
Innovation and EV Demand are Driving Market Growth
The GaN Automotive Technology Market is expanding at a rapid pace due to increased demand for electric vehicles, advances in automotive technology, and the requirement for efficient power management solutions. Some major growth factors in this industry are a focus on energy efficiency, regulatory support for sustainable energy, and autonomous and electric vehicles. Competition among major stakeholders, technological innovation, and strategic collaborations are some of the key drivers driving this dynamic and transforming the automobile sector. Moreover, Companies such as Infineon Technologies are developing GaN-based solutions for electric vehicle onboard chargers, which will improve efficiency and performance while lowering size and weight. Such advancements are altering the automobile sector and propelling the automotive GaN Technology Market.
Automotive GaN Technology Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 89.09% over the forecast period (2024-2032)
Based on Type segmentation, the largest market share is held by voltages below 200V.
Based on Application segmentation, Onboard battery chargers are the largest segment in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Automotive GaN Technology Market is segmented on the basis of Type, Application, and Region.
The market is divided into four categories based on Type: Below 200V and Above 200V. The sector with voltages below 200V holds the biggest market share. Automotive GaN technology is increasingly being used in automotive applications for power electronics because of its efficiency and performance. This comprises onboard chargers, DC-DC converters, and other power management devices used in electric vehicles. With the increased demand for more efficient and compact power electronic solutions in the automotive sector, particularly in electric and hybrid vehicles, the category with less than 200 V applications leads the market.
The market is divided into four categories based on Applications: Onboard Battery Chargers, ADAS Systems and Lidar, Power Systems, and Others. Onboard Battery Chargers are the largest segment. On-board chargers powered by GaN technology are regarded as crucial, given the increasing usage of electric vehicles and the need for effective energy management systems. Onboard battery chargers are vital for electric vehicles because they convert the AC power supplied by the charging station to DC electricity for the vehicle's battery. GaN technology has a better power density and efficiency than competitors, making it the preferred choice for onboard charging systems in automobile applications.
Automotive GaN Technology Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia Pacific has been the leading regional market for Automotive GaN Technology across the world. This can be attributed to factors like the highest-ever rise in the automotive industry, greater adoption of electric vehicles, and key manufacturing and supply of GaN technology by countries like Japan, South Korea, and China. The main reason was the huge focus in the Asian Pacific regions in terms of innovation and technology advancements in the automotive sector globally.
North America is expected to register the highest CAGR in the Automotive GaN Technology market during the projected period. Increased usage of electric vehicles, advanced automotive technology, and the availability of major GaN technology players and research institutes are factors driving this wake. The rapid growth in demand for efficient power electronics solutions in the automotive sector is likely to be observed within the Automotive GaN Technology market in North America.
Infineon, Transphorm, Texas Instruments, EPC, and Power Integrations are some of the leading players and firms in the Automotive GaN Technology Market, working together to drive industry innovation and growth. These businesses are currently developing GaN-based solutions for applications such as automotive power electronics, on-board chargers, ADAS systems, and more. They prioritize research and development, strategic collaborations, and product innovation, all of which contribute significantly to creating the competitive landscape of the automotive GaN technology market.
In October 2023, Infineon carried out an expansion plan by investing EUR 5 billion in its semiconductor facility in Kulim, Kedah, Malaysia.
GLOBAL AUTOMOTIVE GAN TECHNOLOGY MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Infineon
Transphorm
Texas Instruments
EPC
Power Integrations
Navitas
Nexperia
Innoscience
Others