April 21, 2024
Global Rectifiers Market

Global Rectifiers Market Is Estimated To Witness High Growth Owing To Increasing Use Of Silicon Rectifiers

The global rectifiers market is largely dominated by silicon-based rectifiers owing to their high efficiency, reliability, and low cost. Silicon rectifiers are semiconductor devices that allow current to flow through them in only one direction. They are widely used in power supplies in various electronic devices such as smartphones, laptops, chargers, televisions and automotive electronics to convert alternating current (AC) to direct current (DC). The growing demand for consumer electronics and electric vehicles around the world has accelerated the need for rectifiers.

The Global Rectifiers Market is estimated to be valued at US$ 10.88 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 major opportunities in the rectifiers Global Rectifiers Market Trends  include growing demand for energy-efficient power electronics devices due to increasing focus on renewable energy technologies and electric vehicles. Rectifiers with advanced materials and configurations are being developed to enable faster switching speeds and higher efficiencies.

Technological advancements like silicon carbide (SiC) and gallium nitride (GaN) rectifiers offer higher efficiency, faster switching and reduced conduction and switching losses compared to silicon. They allow design of compact and lightweight power conversion systems. Advanced packaging technologies are also being explored to improve heat dissipation in high power rectifiers.

Market Drivers

The global rectifiers market is driven by the rising demand for consumer electronics and electric vehicles. Rectifiers play a vital role in power supplies and battery charging systems of these applications. The growing focus on renewable energy and increasing investments in energy infrastructure will further accelerate the adoption of power electronics and boost the need for rectifiers. Growing industrialization in emerging economies will also contribute to the revenue generation of rectifiers market.

Current Challenges in Global Rectifiers Market
The global rectifiers market is facing challenges such as increasing trade barriers globally, rising raw material prices, and supply chain disruptions. The Covid-19 pandemic severely impacted the production and supply chain of rectifiers across regions. Furthermore, manufacturing facilities were shut down temporarily due to lockdowns which led to delays in projects. Geopolitical tensions among major countries also pose a threat to the stable growth of the rectifiers market.

SWOT Analysis
Strength: Growing demand for power electronics in industries like automotive, consumer electronics boosting the rectifiers market. Wide applications of rectifiers in various end-use sectors create new opportunities.
Weakness: Availability of substitutes like zener diodes and Schottky diodes can hamper the rectifier market growth. Significant R&D investments required to develop new technologies.
Opportunity: Emergence of new rectifier technologies will drive innovations. Rising electrification trends worldwide will fuel the demand for rectifiers in power applications.
Threats: Trade restrictions by governments on certain countries affect global supply chains. Intense competition from local and global players squeezes profits.

Geographical Regions with High Market share
Presently, Asia Pacific holds the largest share in the global rectifiers market owing to high demand from industries like consumer electronics, automotive, industrial etc. in countries like China, India, Japan and South Korea. North America and Europe are also major markets for rectifiers due to established electronic and automotive industries.

Fastest Growing Regional Market
The rectifiers market in Central and South America is anticipated to witness the highest growth during the forecast period. This is attributed to rapid industrialization, growing population, rising disposable incomes in the region which is expanding the end-use applications of rectifiers in industries like oil & gas, power utilities, manufacturing etc. Government initiatives to develop infrastructure will further propel the rectifier demand from this region.

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