The North America Epitaxial Wafer for Compound Semiconductor Market would witness market growth of 12.4% CAGR during the forecast period (2023-2030).
For usage in microelectronics, photonics, spintronics, and photovoltaics, among other things, a compound semiconductor epitaxial wafer is composed of epitaxial growth (epitaxy). Wafers made of compound semiconductor epitaxial materials make it possible to switch at greater rates while using less power, improve energy efficiency, and provide improved performance. Since semiconductors have special qualities, including a wide band gap, high current & voltage holding capacity, high operating temperatures, and the potential to produce microwave signals, they are crucial parts of most electronic circuits.
The use of semiconductors in numerous electronic applications across industry verticals can be credited with the growing demand for epitaxial wafers. The rise in IoT-linked devices is boosting the demand for power electronics, which is why they are used in producing many semiconductor components. This is due to growing industrialization, technological innovation, and rising disposable incomes. Thus, introducing an epitaxial wafer or semiconductor in consumer electronics is fueling the expansion of the industry.
The US government is providing numerous growth prospects for the semiconductor industry. For example, the CHIPS for America initiative funds companies aiming to produce semiconductor chips nationwide. Recently funding announcement by the National Institute of Standards and Technology was expanded till June 2023 to include requests for proposals for facilities that will be used to manufacture semiconductor materials and materials-related equipment, for which the cost of capital will be $300 million or more. The Canadian Photonics Fabrication Centre (CPFC) of the National Research Council of Canada will get $90 million in financing. Therefore, the growing government support for the semiconductor industry's growth is aiding in the expansion of the regional market.
The US market dominated the North America 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 $1,500.5 million by 2030. The Canada market is experiencing a CAGR of 15% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 14% 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 U.S., Mexico, Canada, and Rest of North America.
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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