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| Global Rectifiers Market |
The global rectifiers market
involves products that convert alternating current (AC) power to direct current
(DC) power. Rectifiers are commonly used in various power electronic circuits
and devices such as switching power supplies, battery chargers, solar chargers,
welders, and motor control equipment. Key types of rectifiers include silicon
rectifiers, germanium rectifiers, copper sulfide rectifiers, and mercury arc
rectifiers. Rectifiers offer benefits such as low forward voltage drop, fast
switching speeds, high temperature tolerance, and compact size. With the
increasing demand for efficient power management and rising adoption of
renewable energy sources globally, rectifiers have become an integral component
in power electronic devices and circuits.
The Global rectifiers market is estimated to be valued at US$ 5.30 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period
2024 to 2031.
Key Takeaways
Key players operating in the Global Rectifiers market are ON Semiconductor,
Vishay Intertechnology, Inc., Infineon Technologies AG, STMicroelectronics,
Fuses Unlimited Inc., Toshiba Corporation, Diodes Incorporated, NXP
Semiconductors, Renesas Electronics Corporation, and Mitsubishi Electric
Corporation.
The key opportunities in the Global
Rectifiers Market Demand include growing demand for fast switching and
compact rectifiers in industrial applications and power electronics. With
manufacturing technologies advancing rapidly, rectifier producers are coming up
with innovative product designs with improved efficiencies.
On the global expansion front, rectifier manufacturers are focusing on emerging
economies in Asia Pacific and Latin America. Countries like China, India,
Brazil, and Mexico offer high growth potential due to flourishing industries
and rising demand for power management solutions from industrial, commercial,
and residential sectors.
Market Drivers
The key driver for the global rectifiers market is the rising demand for power
electronics from various end-use industries. Rectifiers constitute a vital
component in power electronic devices used across industries like consumer
electronics, automotive, energy & power, transportation, and
telecommunications. Growing investments in industries globally are expected to
surge the consumption of power electronics and fuel the rectifiers market.
Market Restrain
Availability of alternatives like schottky diodes and thyristors can pose a
challenge for rectifier market growth. These alternatives offer minor benefits
over rectifiers like lower forward voltage drop and faster switching in specific
applications. With continuous R&D, alternatives may capture some share from
traditional rectifier applications.
Segment Analysis
Schottky diodes segment dominates the global rectifiers market accounting for
more than 30% share, as they have low forward voltage drop and fast switching
speeds. They are widely used in power supplies, RF tuned circuits, and
detectors. PIN diodes segment is expected to witness fastest growth during the
forecast period, owing to their increasing usage in applications such as power
rectification, switching, voltage regulation and signals processing. Being made
of silicon with intrinsic layer between P-type and N-type semiconductors, PIN
diodes have faster switching speeds than standard diodes.
Global Analysis
Regionally, Asia Pacific dominates the global rectifiers market and is
estimated to account for more than 40% share of the overall market by 2024.
Rapid industrialization and growing electronics industry in countries such as
China, India, Japan, South Korea is driving the rectifiers market growth in the
region. North America is expected to witness significant growth during the
forecast period, due to presence of established automotive and
telecommunication industries in the region. Rectifiers find increasing usage in
automotive applications such as motor drivers, ignition systems and
alternators. Growth of IoT and 5G technology is further expected to fuel the
demand.
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