The Business Research Company’s Gallium Global Market Report 2024 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Gallium Global Market Report 2023 evaluates gallium market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global gallium market is expected to grow from $1.85 billion in 2023 to $2.32 billion in 2024 at a compound annual growth rate (CAGR) of 25.5%. The growth in the historic period can be attributed to electronics industry, medical applications, solar energy, aerospace and defense. The gallium market size is expected to see exponential growth in the next few years. It will grow to $5.38 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%.
The increasing adoption of solar panels is expected to propel the growth of the gallium market going forward. Solar panels, also known as photovoltaic (PV) panels, convert sunlight into energy via a process known as the photovoltaic effect that generates electricity directly from sunlight. Gallium is an essential element in manufacturing thin-film solar panels, which convert a more significant proportion of the sun into energy than other solar cells and provide a flexible and lightweight alternative to standard silicon-based solar panels. For instance, in September 2021, according to the Energy Information Administration, a US-based energy organization, the United States added 13.2 gigawatts (GW) of utility-scale solar power in 2021, an annual record and 25% higher than the 10.6 GW added in 2020. Furthermore, small-scale solar capacity installation in the United States climbed by 5.4 GW in 2021, a 23% increase over 2020 (4.4 GW). Therefore, the increasing adoption of solar panels will drive the gallium market.
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The gallium market segments in the report are:
1) By Product: Gallium Nitride (GaN) Radio Frequency Devices, Opto-Semiconductors, Power Semiconductors
2) By Component: Transistors, Diodes, Rectifiers, Power Integrated Circuits, Other Components
3) By Wafer Size: 2-Inch, 4-Inch, 6-Inch, 8-Inch
4) By End-User: Automotive, Consumer Electronics, Defense And Aerospace, Healthcare, Industrial And Power, Information And Communication Technology, Other End-Users
The table of contents in TBRC’s gallium market report includes:
- Executive Summary
- Gallium Market Characteristics
- Gallium Market Trends And Strategies
- Gallium Market – Macro Economic Scenario
- Global Gallium Market Size and Growth
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- Global Gallium Market Competitive Benchmarking
- Global Gallium Market Competitive Dashboard
- Key Mergers And Acquisitions In The Gallium Market
- Gallium Market Future Outlook and Potential Analysis
- Appendix
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