July 20, 2024
Global Rectifiers Market

The Global Rectifiers Market Is Poised To Experience Trends Towards The Wide Adoption Of Silicon Carbide Power

The global rectifiers market includes diodes that convert alternating current (AC) power input into direct current (DC) power output, which are utilized in electronics circuits and power supplies. Owing to the ability of rectifiers to efficiently convert AC into stable DC power for countless digital and analog applications, the demand for rectifiers has grown considerably. The rectifying diodes help ensure the smooth flow of currents through circuits in numerous end-use verticals including telecommunications, automotive, industrial, consumer electronics and more. The key advantages of rectifiers include effective voltage regulation, protection against voltage surges and reverse currents, small size, and prolonged lifetimes.

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.

Rapid urbanization and industrialization along with the widespread adoption of smart grid technologies have majorly propelled the growth of the rectifiers industry.

Key Takeaways

Key players operating in the Global Rectifiers Market Demand 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 dominant players actively focus on introducing novel rectifier solutions equipped with advanced technologies to expand their market share.

The growing demand for rectifiers from consumer electronics, industrial machinery, electric vehicles and renewable energy systems is expected to drive the market growth over the coming years. Further, the rising deployment of next-gen wireless networks including 5G is supplementing the product demand.

Asia Pacific led by China, South Korea, Japan and India currently dominates the global rectifiers market and is anticipated to exhibit significant growth over the forecast period. This is mainly attributed to the growing electronics, automotive and telecommunications industries within the region. Europe and North America are also lucrative regional markets propelled by extensive research & development investments.

Market Key Trends

One of the key trends gaining traction in the Global Rectifiers Market is the rising adoption of Silicon Carbide power modules. Silicon Carbide semiconductors demonstrate several advantages over conventional silicon such as higher efficiency, faster switching, compact size and superior thermal conductivity. Leading players are extensively investing in developing advanced Silicon Carbide rectifying diodes, thyristors and transistors catering to diverse industry verticals. Owing to their high power densities, ruggedness and lower costs, the Silicon Carbide power devices are being increasingly deployed in applications including electric vehicle charging stations, EV powertrains, renewable energy converters, telecom base stations, and more, driving the rectifiers market growth.

Porter’s Analysis

Threat of new entrants: New players find it difficult to enter this market due to the presence of established global players and high initial investments required.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternatives in the market.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the presence of many raw material suppliers in the market.

Threat of new substitutes: Threat from substitutes is low as rectifiers have limited substitutes for use in various applications.

Competitive rivalry: The market is dominated by top players and there is high competition among them to gain market share.

Geographical Regions

North America accounts for the largest share in the global rectifiers market due to presence of major players and advanced electronic industry.

Asia Pacific is expected to grow at the fastest pace during the forecast period owing to rapid industrialization and increasing demand from major economies like China and India.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.