The Global Epitaxial Wafer Market Growth Accelerated By Explosive Growth In Semiconductor Applications
Epitaxial Wafer Market Growth |
Market key trends:
One of the key trends driving growth in the epitaxial wafer market is the
explosive growth in applications of semiconductors. Almost every facet of
modern life depends on semiconductors used in various devices. There is rising
demand for semiconductors from emerging applications such as Internet of Things
(IoT), electric and hybrid vehicles, renewable energy infrastructure, and cloud
computing. Semiconductors have become crucial for advanced technologies of the
future such as artificial intelligence, 5G networks, autonomous vehicles, and
quantum computing. As semiconductors become more complex with shrinking device
sizes, the need for high quality epitaxial wafers with precise specifications
will also rise. This increasing reliance on semiconductors globally is expected
to propel the demand for epitaxial wafers over the forecast period.
Segment Analysis
The global epitaxial wafer market is divided into different segments based on
technology, application and geography. Based on technology, the market is
bifurcated into Si epitaxial, GaAs epitaxial, InP epitaxial, SiC epitaxial, and
others. Among these, the Si epitaxial wafer segment dominates the market owing
to its widespread adoption in applications such as LED lighting, infrared
sensor, and laser diodes. Based on application, the market is categorized into
LED, power semiconductor, MEMS, and others. The LED application segment
accounts for the largest share of the epitaxial wafer market as these wafers
are used in the production of LED chips responsible for energy-efficient
lighting and displays.
Key Takeaways
The global epitaxial
wafer market scope is expected to witness high growth over the forecast
period of 2023 to 2030. The global Epitaxial Wafer Market is estimated to be
valued at US$ 938.32 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over
the forecast period 2023 to 2030.
Regional analysis shows that the Asia Pacific region holds the highest share of
the global epitaxial wafer market currently. This can be attributed to presence
of major electronics manufacturing hubs and wafer foundries in countries such
as China, Taiwan, Japan and South Korea. Growing demand for consumer
electronics and smartphones in Asia Pacific countries is expected to drive the
regional market over the forecast period.
Key players operating in the epitaxial wafer market include EpiWorks Inc.,
Global Wafers Japan Co. Ltd., Nichia Corporation, SHOWA DENKO K.K. These
companies dominate the market with their technical expertise in production of
different wafer materials and sizes as per application requirements. They are
focusing on expansion of wafer manufacturing capacities to leverage future
growth opportunities.
Get more insights on this topic: https://www.newswirestats.com/epitaxial-wafer-market-industry-insights-trendsepitaxial-wafer-market-2023-2030/
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