LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global metal organic chemical vapor deposition (MOCVD) market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Sunil Kumar Singh, a lead analyst from Technavio, specializing in research on semiconductor equipment sector, says, “There are different factors driving the global MOCVD market growth, of which the increasing demand for high-brightness LEDs in the global LED Lighting market is the major one. The rapid decline in the ASP of LEDs has led to an increase in the adoption of LEDs for lighting applications.”
The MOCVD market is likely to grow at a CAGR of around 14% during the predicted period. Since MOCVD technique is used to produce high-brightness LEDs, it is expected that the increasing demand for high-brightness LEDs will fuel the growth of the market. Furthermore, the increasing demand for renewable sources of energy such as solar energy is another major driver for this market. Semiconductor manufacturers are using the MOCVD process to manufacture high-efficiency triple junction photovoltaic cells that can maximize the efficiency of photovoltaic cells in converting sunlight to electricity.
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The top three emerging trends driving the global MOCVD market according to Technavio research analysts are:
Need for energy conservation
The vendors offer different power electronic devices for use in a range of applications. The main focus of the vendors is energy conservation. Many vendors are engrossed in increasing power density, thereby affecting the cost of power electronic devices and associated applications. The cost is expected to increase during the forecast period.
“The increase in power density leads to an increase in the power efficiency of the devices, thus helping end-users conserve energy. Depletion and rising cost of fossil fuels make energy conservation a requirement and a trend that can trigger the market growth over the next few years,” according to Sunil.
Emergence of high-powered electronic devices
The consumers of electronic devices have high expectations. They want products that are fast, innovative, lightweight, energy-efficient, and small. For silicon, all these demands are tough to achieve without compromising on performance. It has already reached its saturation stage.
GaN-based semiconductor devices have opened new opportunities for customers and vendors alike. For customers, GaN offers high-powered electronics that are mobile, prompt, energy-efficient, and save on time.
Increasing MOCVD equipment utilization rate in APAC
Increasing lighting demands and the subsidies offered by the local government on MOCVD equipment in APAC, particularly in China, present strong growth potential for the global MOCVD equipment market. The increasing demand for LED-based components and accessories such as LED-based displays along with the increasing demand for LEDs in the general lighting segment has increased the MOCVD equipment utilization rate in APAC.
For instance, Chinese LED manufacturers such as Tsinghua Tongfan, HC SemiTek, Hangzhou Silan Azure Technology, and Zhongke Semiconductor Lighting have production capacity expansion plans in the country by 2020.
The key vendors are as follows:
- Taiyo Nippon Sanso
- Veeco Instruments
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