Gallium Arsenide Germanium Solar Cell (Gaas) Market Report 2025

This Gallium Arsenide Germanium Solar Cell (Gaas) market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The gallium arsenide germanium solar cell (GaAs) market size has grown strongly in recent years. It will grow from $14.92 billion in 2024 to $16.22 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to reduced carbon emissions, increased demand for renewable energy sources, high efficiency of multi-junction Gaas solar cells, rise in the use of Gaas solar cells in space exploration, and increased focus on energy security.

The gallium arsenide germanium solar cell (GaAs) market size is expected to see strong growth in the next few years. It will grow to $22.45 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the surge in awareness regarding the adverse impact on the environment, rise in the installation of solar systems, growing demand for electronics among consumers, rising military and defense applications, and higher efficiency and durability of Gaas solar cells. Major trends in the forecast period include a focus on sustainability, demand for high-efficiency solar cells, advancements in solar panel technology, adoption of solar power, and demand for compact and efficient power supplies.

The growing adoption of renewable energy sources is expected to drive the expansion of the gallium arsenide germanium solar cell (GaAs) market in the coming years. Renewable energy sources are naturally replenishing resources that are continuously regenerated through natural processes. The increasing demand for renewable energy is largely driven by factors such as climate change concerns and sustainability goals. Gallium arsenide solar cells are known for their high efficiency and reliability, making them an essential component in the transition to renewable energy. Their unique characteristics make them especially valuable for specialized applications, supporting a more sustainable and resilient energy infrastructure. For example, in January 2024, the International Energy Agency (IEA), a France-based intergovernmental organization, reported that global renewable energy capacity additions surged by 50% in 2023, reaching nearly 510 gigawatts, surpassing 2022 levels. Therefore, the growing shift toward renewable energy sources is fueling the growth of the GaAs solar cell market.

Major companies in the gallium arsenide germanium solar cell (GaAs) market are innovating with technologies such as space solar cell technology to enhance energy efficiency and reliability for satellite and spacecraft applications. Space solar cell technology based on gallium arsenide and germanium (GaAs/Ge) uses semiconductor materials such as gallium arsenide (GaAs) and germanium (Ge) to convert sunlight into electricity. For example, in March 2023, Rocket Lab USA Inc., a US-based aerospace and defense company, launched a new space solar cell called IMM-β, currently the highest-efficiency space solar cell technology in high-volume production. IMM-β solar cells, using gallium arsenide germanium solar cells (GaAs) and materials such as indium gallium phosphide (InGaP), achieve high efficiencies with an average beginning of life (BOL) efficiency of 33.3%, surpassing the 32% efficiency of the IMM-α cell currently in production.

The growing adoption of the Internet of Things (IoT) is expected to accelerate the growth of the gallium arsenide germanium solar cell (GaAs) market. The Internet of Things (IoT) refers to the network of physical devices that are embedded with sensors, software, and other technologies, enabling them to connect and exchange data with other devices and systems via the Internet. The increasing adoption of IoT is largely driven by its ability to enhance operational efficiency, reduce costs through predictive maintenance, and improve decision-making. GaAs solar cells are particularly effective in low-light and indoor environments, making them ideal for powering IoT devices in shaded, indoor, or variable lighting conditions where traditional silicon-based cells may not perform as well. For example, in April 2024, Ericsson, a Sweden-based telecommunications company, reported that global IoT connections reached 15.7 billion in 2023, with projections showing a 16% increase to 38.8 billion by 2029. As a result, the growing adoption of IoT is driving demand for GaAs solar cells.

Major companies operating in the gallium arsenide germanium solar cell (Gaas) market are Emcore Corporation, Spectrolab Inc., AXT Inc., Anadigics Inc., Alta Devices Inc., Kopin Corporation, MicroLink Devices Inc., Azur Space Solar Power GmbH, JDS Uniphase Corporation, Xiamen Powerway Advanced Material Co. Ltd., Sumitomo Electric Industries Ltd., Advanced Wireless Semiconductor Company, MTI Corporation, Ibsen Photonics, Freiberger Compound Materials GmbH, Semiconductor Wafer Inc., Hanergy Holding Group Limited, Azur Space Solar Power GmbH, DOWA Electronics Materials Co. Ltd., Vital Materials Co. Limited.

Asia-Pacific was the largest region in the gallium arsenide germanium solar cell (Gaas) market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the gallium arsenide germanium solar cell (Gaas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gallium arsenide germanium solar cell (Gaas) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The gallium arsenide germanium solar cell (GaAs) belongs to the III-V semiconductor family and is renowned for its high electron mobility, direct bandgap, and exceptional heat resistance. These attributes make it ideal for applications requiring high-efficiency solar cells and operations in environments with elevated temperatures and radiation.

There are two primary types of gallium arsenide germanium solar cells (GaAs), liquid encapsulated czochralski (LEC) grown gallium arsenide (GaAs) and vertical gradient freeze (VGF) grown gallium arsenide (GaAs). Liquid encapsulated czochralski (LEC) growth involves the production of high-quality gallium arsenide single crystals using this method. GaAs finds extensive use in diverse applications such as radio frequency electronics, light emitting diodes, photovoltaic devices, photonic devices, wireless communication, optoelectronic devices, and other related fields.

The gallium arsenide germanium solar cell (Gaas) market research report is one of a series of new reports that provides gallium arsenide germanium solar cell (Gaas) market statistics, including gallium arsenide germanium solar cell (Gaas) industry global market size, regional shares, competitors with a gallium arsenide germanium solar cell (Gaas) market share, detailed gallium arsenide germanium solar cell (Gaas) market segments, market trends and opportunities, and any further data you may need to thrive in the gallium arsenide germanium solar cell (Gaas) industry. This gallium arsenide germanium solar cell (Gaas) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The gallium arsenide germanium solar cell (Gaas) market consists of sales of space-specified solar cells and hybrid solar cells. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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