Report ID: SQMIG55F2021
Report ID:
SQMIG55F2021 |
Region:
Global |
Published Date: March, 2024
Pages:
182
|
Tables:
65 |
Figures:
76
Gallium Arsenide (GaAS) Solar Cells Market size was valued at USD 15.78 Billion in 2023 and is poised to grow from USD 17.11 Billion in 2024 to USD 32.74 Billion by 2032, growing at a CAGR of 8.45% during the forecast period (2025-2032).
The Gallium Arsenide solar cells market is expected to grow significantly in the coming years, driven by factors such as the higher efficiency and lower manufacturing costs of GaAs solar cells compared to traditional silicon-based solar cells. Gallium Arsenide solar cells are typically used in applications that require higher efficiency, such as space applications and military applications, as well as in niche markets such as consumer electronics. In January 2021, Alta Devices announced that it had been awarded a contract by the US Air Force Research Laboratory to develop a lightweight, flexible solar cell for use in space applications. The contract was valued at $7.1 million. Solar cells made of gallium, arsenide, and germanium (Gaas) also have a zinc blended crystal structure. For the growth of other semiconductors, these elements are mostly used as a substrate material. For usage in high-efficiency and multijunction solar cells, gallium arsenide (GaAs) is regarded as the optimal material. For Instance, August 2021, Azur Space Solar Power announced that it had developed a new solar cell that achieved an efficiency of 30.3%, setting a new world record for a triple-junction GaAs solar cell.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG55F2021