The Asia Pacific Epitaxial Wafer for Compound Semiconductor Market would witness market growth of 13.6% CAGR during the forecast period (2023-2030).
Using epitaxial wafers to monitor and regulate temperature, flow, pressure, and level using robots is growing in the automotive industry. This is fueling the market's expansion along with the increasing sales of electric and autonomous vehicles, self-driving trucks, and the automotive industry. Aside from that, the demand for epitaxial wafers is being boosted by the increased emphasis on cutting down on power use and the general increase in awareness of green technologies. The use of light-emitting diodes (LEDs), which are expected to provide industry investors and end users with attractive growth prospects, is also being promoted by the governments of several countries.
The efficiency of sunlight-powered chargers has increased due to silicon wafers in solar cells; this means it produces more power per unit than solar cells made of conventional materials. Due to these benefits, silicon wafer utilization will increase to make solar cells. As a result, the growing demand for silicon wafers will push manufacturers to cover the silicon wafer in an epitaxial layer to increase the board's functionality. The coating on the epitaxial wafer considerably improves the performance of solar panels. As a result, these factors are expected to increase the demand for epitaxial wafers throughout the projected period.
Since the Make in India initiative in 2015, India has seen a huge increase in electronics production. A new era in electronics manufacturing was heralded with the announcement in April 2020 of three incentive programs for the industry totalling over $7 Billion. The growth narrative of this industry depends on semiconductors. India's demand for semiconductors was valued at about $ 24 billion in 2021, and by 2025, it is anticipated to reach $100 billion. The country now imports all of the semiconductors it needs. The need for semiconductor chips is increasing due to the development of technology, the emergence of IoT, and the introduction of 5G in India. By 2025, electronic manufacturing, IoT devices, and data center facilities are expected to increase demand in India. Thus, the region presents lucrative growth prospects for the market's growth.
The China market dominated the Asia Pacific Epitaxial Wafer for Compound Semiconductor Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,095.3 million by 2030. The Japan market is registering a CAGR of 12.8% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 14.7% during (2023 - 2030).
Based on Application, the market is segmented into CS Power Electronics, CS RF/Microwave, CS Sensing, CS Quantum, and CS Photonics. Based on End User, the market is segmented into Industrial, Energy & Power, Defense/Security, Digital Economy, Transport, Healthcare, Consumer Electronics, and Space. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Epitaxial Wafer for Compound Semiconductor Market is Projected to reach USD 7.8 Billion by 2030, at a CAGR of 13.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include II-VI Incorporated, WOLFSPEED, INC., Ennostar, Inc., GlobalWafers Co., Ltd. (Sino-American Silicon Products Inc.), SVT Associates, Inc., International Quantum Epitaxy, Plc., Masimo Semiconductor, Inc., Nichia Corporation, Siltronic AG and Sumitomo Electric Industries, Ltd.
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