The international market for metal organic chemical vapour decomposition equipment is poised for high growth in the forecast timeframe of 2017 to 2025. The market is forecasted to experience growth owing to growing demand for renewable source of energy.
With an increasing effort to save electricity cost, consumers are more and more encouraged to install and make use of photovoltaic cells. Solar energy is produced with the help of these cells. Solar energy is a renewable source of energy. The energy thus obtained from photovoltaic cells not only comes with diminished cost but also with high efficiency. This factor inspires the manufacturers of semiconductor to make foray into the photovoltaic industry. The semiconductor manufacturers that are operational in the industry of photovoltaic cells are increasingly making use metal organic chemical vapour decomposition equipment to produce highly efficient photovoltaic cells or triple junction solar cells. This renders optimum efficiency to the photovoltaic cells so as to convert sunlight into electricity. This will, as such, bolster the demand for metal organic chemical vapour decomposition equipment for the purpose of development and manufacture of photovoltaic cells.
Increase in usage of metal organic chemical vapour decomposition equipment in Asia Pacific is estimated be one of the major trends that is expected gain traction in the market. Furthermore, there is an increasing number of subsidies that are being provided by the local government for the metal organic chemical vapour decomposition equipment industry. It is, as such, stimulating the adoption of the equipment in countries like China. In addition to that, the growing demand for various accessories like displays that are based on light-emitting diode (LED) based are also foreseen to bolster the demand for the equipment from the APAC region.
Metal Organic Chemical Vapour Decomposition (MOCVD) equipment is used in the manufacturing process of complex multilayer semiconductor structure that are used across various optoelectronic or electronic equipment. MOCVD is a device used by different semiconductor manufacturers for depositing thin layer of semiconductor compound material on semiconductor wafers. MOCVD equipment is primarily used in various manufacturing process of type III to V compound semiconductor especially that uses gallium nitride (GaN). These semiconductors are used extensively as the basic material in the manufacturing process of LEDs, power transistors, lasers, electronic devices and photovoltaic cells among others. Application of advanced MOCVD equipment in the manufacturing process of a semiconductor device not only increases the performance but also delivers higher switching speed and efficiency. Thus, the global metal organic chemical vapour decomposition (MOCVD) equipment market is anticipated to experience an exponential growth rate during the forecast period from 2016 to 2024.
In order to provide in-depth analysis, the global metal organic chemical vapour decomposition (MOCVD) equipment market can be segmented on the basis of application and geography. By application, the market can be classified into semiconductor and electronics and research and development facilities. The semiconductor and electronics segment can be further bifurcated into barrier layers, integrated circuit (IC) applications, solar panels, display panels and sensors among others. In addition, current market synopsis as well as future trend of all the above mentioned segment is also provided in this report across various regions such as North America, Europe, Asia Pacific, Middle-East and Africa and Latin America.