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【Market Research Report】Global Market for Gallium Arsenide (GaAs) Solar Cells

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The global gallium arsenide (GaAs) solar cell market size was valued at $14.55 billion in 2022, and it is projected to grow at a CAGR of 8.45% during the forecast period (2024-2031), increasing from $15.78 billion in 2023 to $30.19 billion by 2031. The gallium arsenide (GaAs) solar cell market is expected to experience significant growth in the coming years due to several key factors. GaAs solar cells are becoming increasingly attractive for various applications because they are more efficient and have lower manufacturing costs compared to traditional silicon-based solar cells. These applications range from high-efficiency space and military uses to niche markets such as consumer electronics, where efficiency is crucial.

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