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

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

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 significant impact on leading market participants. Contrariwise, rise in demand for electric vehicle solution in emerging countries such as India, France and Mexico is expected to have an impact to the high electron mobility transistor market trends post pandemic. However, 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.

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, the gallium nitride (GaN)  accounted for 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 for the major share in the High Electron Mobility Transistor (HEMT) market, accounting for around 51.3% share 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.