LONDON--(BUSINESS WIRE)--The global metal organic chemical vapor phase deposition (MOCVD) market in power electronics is set to grow at a striking CAGR of over 40%, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global MOCVD market in power electronics for 2015-2019. To calculate the market size, Technavio’s analysts consider revenue generated through the global sales of MOCVD equipment used for power electronics.
Technavio’s research study segments the global MOCVD market in power electronics into the following regions:
APAC: Largest MOCVD market in power electronics
With a massive market share of about 91% in 2014, APAC became the largest market for MOCVD in power electronics and will continue to lead the market over the next five years. The high concentration of original equipment manufacturers (OEMs) and original design manufacturers (ODMs) in the region is driving market growth in APAC.
The growing demand for power electronic devices in renewable and utility applications in APAC is another factor expected to fuel the demand for power electronics. The availability of raw materials, low establishment and labor costs, and business-friendly government policies of various countries have encouraged many companies to launch their manufacturing units in this region. Technological advancements in MOCVD and power electronics, such as GaN power devices and GaN-on-Si platform are also adding to the market growth in this region.
“The rapid growth of the MOCVD market in the APAC is also because countries such as China, Japan, Taiwan, and South Korea have many firms with a strong presence in the electronics manufacturing industry,” says Asif Gani, Technavio’s lead semiconductor equipment industry analyst.
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Some of the top vendors in the global MOCVD market in power electronics highlighted in the report are:
- Taiyo Nippon Sanso Corp
- Veeco Instruments
Taiyo Nippon Sanso Corp is headquartered in Japan, while Aixtron is headquartered in Germany, and Veeco Instruments is headquartered in the US.
The global market share of the Americas is expected to fall gradually during the forecast period, due to rise in demand and procurement of MOCVD equipment used for power electronics in APAC. The Americas, especially the US and Canada, are mature markets for technology products as the consumers in this region are early adopters of any emerging technology. The shifting and development of existing and new manufacturing units and their expansion to APAC is affecting the market share of the Americas.
The MOCVD market in power electronics in Europe is expected to grow steadily in terms of revenue during the forecast period, with countries such as Germany, France, and UK playing pivotal roles in market growth. Aixtron SE, which is the second largest supplier of MOCVD equipment worldwide, is headquartered in Germany. Europe is the hub of the automotive industry and the demand for energy efficient power electronics is increasing significantly in the automotive industry.
“EMEA, like the Americas, will see a decrease in its global market share due to high demand and manufacturing of power electronics in APAC. However, the decrease is only from a global market share perspective and not in terms of revenue,” says Asif.
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