High Electron Mobility Transistors Market to Garner $9.3 Bn, Globally, by 2031 at 4.2% CAGR: Allied Market Research

Developments of HEMTs by market players and heavy investments have boosted the growth of the global high electron mobility transistors market.

PORTLAND, Ore., Aug. 31, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "High Electron Mobility Transistor Market by Type (Gallium Nitride (GaN), Silicon Carbide (SiC), Gallium Arsenide (GaAs), Others), by End User (Consumer Electronics, Automotive, Industrial, Aerospace and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global high electron mobility transistors industry accounted for $6.2 billion in 2021, and is expected to reach $9.3 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

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Major Determinants of the Market Growth

Developments of HEMTs by market players and heavy investments have boosted the growth of the global hydraulic power market global high electron mobility transistors market. However, dearth of standard techniques to produce and develop HEMT devices hinder the market growth. On the contrary, high demand for new HEMT technologies in aerospace & defense and automotive industry would open lucrative opportunities in the future.

Covid-19 Scenario:

• The pandemic created concerns and economic adversity across the supply and value chain. The prolonged lockdown imposed by various governments disrupted the supply chain and production units.
• However, as the world is slowly getting back on track, the demand for new and innovative productions is expected to increase in the future.

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The Gallium Nitride (GaN) Segment Dominated the Market Growth

By type, the gallium nitride (GaN) segment held the largest share in 2021, accounting for more than two-fifths of the global high electron mobility transistors market. In addition, the segment is expected to manifest the highest CAGR of 4.87% during the forecast period, due to its high breakdown voltage and power efficiency as compared to others. The report includes analysis of silicon carbide (SiC), gallium arsenide (GaAs), others.

The Aerospace and Defense Segment to Manifest the Highest CAGR Through 2031

By end user, the aerospace and defense segment are projected to register the highest CAGR of 5.01% during the forecast period. HEMT circuits have been currently witnessing an increasing demand in spacecraft, as they offer reduction in size of associated components, such as inductors, transformers, resistors, and capacitors, owing to their high internal frequency switching. However, the consumer electronics segment held the largest share in 2021, contributing to more than one-fourth of the global high electron mobility transistors market, owing to increase in demand for consumer electronics products and rise in technological awareness. Furthermore, advancements in artificial intelligence technology and its integration with consumer electronics have led to the development of a variety of products such as smart speakers, smart lamps, and other smart home devices.

North America Held the Largest Share

By region, the global high electron mobility transistors market across Asia-Pacific held the largest share in 2021, accounting for more than half of the market. In addition, the region is expected to showcase the highest CAGR of 4.47% during the forecast period, owing to availability of huge power stations for high voltage power, increase in demand for power modules, and surge in population. Moreover, around 70% of the total electrical energy is estimated to be processed by power electronic systems that incorporate power components including HEMTs. These devices are extensively adopted in applications such as automotive, renewable energy stations, and electric grid infrastructures. These organizations take various initiatives to build power infrastructure with advanced technologies.

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Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the high electron mobility transistor market analysis from 2021 to 2031 to identify the prevailing high electron mobility transistor market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the high electron mobility transistor market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global high electron mobility transistor market forecast, trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

Type

• Gallium Nitride (GaN)
• Silicon Carbide (SiC)
• Gallium Arsenide (GaAs)
• Others

End User

• Others
• Consumer Electronics
• Automotive
• Industrial
• Aerospace and Defense

By Region

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Rest of Europe)
• Asia-Pacific (Rest of Asia-Pacific, China, Japan, India, South Korea)
• LAMEA (Latin America, Middle East, Africa)

Major Market Players

• Qorvo
• Infineon
• Mitsubishi
• Microsemi
• Wolfspeed
• NXP SEMICONDUCTORS
• ST Microelectronics
• Texas Instruments
• Intel Corporation
• Renesas Electronics

The report analyzes these key players of the global high electron mobility transistors market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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