Epitaxial growth is used today for siliconbased devices as well as in the III-V compound semiconductor industry. This demand is expected to increase and strongly driven by microLEDs, power devices and laser diode applications.
In terms of semiconductor substrate, GaN material represents the major epitaxy market after silicon substrates, mostly driven by the traditional LED GaN-devices.
On the other hand, wide band gap materials like SiC substrates have found opportunities in the power electronics market. Despite the high market price of SiC, such substrates are a strong asset for high-voltage applications, and thus are considered as a technology choice for some MOSFET and diode products.
The Epitaxial Growth Equipment for SiC and GaN market looks promising during the forecast period. The key factor driving its market is the continuous introduction of new LED devices, which are increasingly used in the power industry.
The global Epitaxial Growth Equipment for SiC and GaN market was valued at 868.34 million in 2021 and is projected to reach US$ 1.34 billion by 2028, at a CAGR of 5.50% during the forecast period.
The development of GaN, SiC to replace non-silicon substrates is expected to bring lucrative opportunities to its market. In addition, wide-bandgap materials such as SiC are increasingly used in power electronics to reduce power consumption, which is critical in renewable energy, power applications, motor drives, and transportation electrification.
The Epitaxial Growth Equipment for SiC and GaN market is dominated by large companies, and new entrants need strong technology and capital to enter the market. The global key manufacturers of Epitaxial Growth Equipment for SiC and GaN include NuFlare, Tokyo Electron Limited, NAURA, Veeco, Aixtron, Advanced Micro, Taiyo Nippon Sanso, Applied Material, and ASMI, etc. In 2021, the global top five players had a share approximately 60.58% in terms of revenue.
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