Rectifiers find widespread applications in power supplies, battery chargers, motor controls, and renewable energy systems. They offer advantages such as lower conduction losses, compact size, higher efficiency and reliability compared to vacuum tubes. The growing renewable energy sector is one of the key drivers promoting the adoption of rectifiers.
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 energy sources across the globe is propelling the Global Rectifiers Market Growth Rectifiers have wide applications in solar charge controllers, DC power generation, and other equipment related to solar, wind and fuel cell power systems.
Geographically, the Asia Pacific region dominates the global rectifiers market led by countries like China, India with rapidly increasing renewable energy installations. Manufacturers are expanding their production capacities and distribution networks in North America and European countries to leverage growth opportunities.
Market Key Trends
One of the key trends gaining traction in the global rectifiers market is the adoption of silicon carbide (SiC) and gallium nitride (GaN) based rectifiers. SiC and GaN offer advantages like lower conduction and switching losses compared to standard silicon. They allow designing of more compact and highly efficient rectifiers suitable for fast charging EV stations, solar micro-inverters, and other high power conversion applications. This trend is expected to accelerate over the forecast period with continued technological advancements.
Porter’s Analysis
Threat of new entrants: Global Rectifiers Market Size And Trends Bargaining power of buyers: There are a large number of established manufacturers of rectifiers globally, giving buyers more bargaining power in terms of pricing and quality. Bargaining power of suppliers: The raw materials used for manufacturing rectifiers such as silicon, copper and other metals have numerous global suppliers, reducing individual supplier power. Threat of new substitutes: While alternative technologies are being researched, there are currently no cost-effective substitutes that can match rectifier functionality. Competitive rivalry: The market is dominated by a few large players and competition is based mainly on technology leadership, pricing and customer support.
Geographical Regions
The global rectifiers market is concentrated in Asia Pacific region in terms of value. The region accounts for more than 40% of the total market value due to presence of numerous manufacturing units of rectifier manufacturers as well as end use industries in countries such as China, Japan, South Korea and India.
North America is expected to be the fastest growing region for the global rectifiers market during the forecast period. This can be attributed to increasing investments in renewable energy generation projects in the region as rectifiers help ensure proper functioning of solar panel arrays and wind turbines by regulating voltage fluctuations.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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