April 17, 2024
Global Rectifiers Market

The Global Rectifiers Market Is Experiencing Trends Through Enhanced Demand For Renewable Energy Sources

The Global Rectifiers Market encompasses rectifier devices that convert alternating current (AC) into direct current (DC). They are utilized in various consumer electronics and industrial equipment to obtain regulated DC voltages from an AC supply. Rectifiers are essential components for regulating the power supply in devices and play a vital role in technological advancements. Advantages of rectifiers include ease of conversion, ability to control DC output voltage, compact size, and low power consumption. With growing digitization and adoption of smart devices globally, the rectifier demand continues to experience robust growth.

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. These players are focusing on new product launches and strategic collaborations to gain a competitive advantage in the market.

The growing demand for rectifiers from various industries like automotive, consumer electronics, energy & power, mining, oil & gas, and transportation is a major factor driving the market growth. Rectifiers are integral components of motor control centers, UPS systems, chargers, DC power supplies and renewable energy infrastructure that are seeing multiplying installations globally.

The Global Rectifiers Market Trends is witnessing significant expansion in developing regions of Asia Pacific, Latin America, and Middle East & Africa. This can be attributed to rapid industrialization, growing population, urbanization, and rising disposable incomes in these regions. The increasing adoption of smart grid technology and focus on renewable energy integration is further propelling the regional market demand.

Market key Trends

The Global Rectifiers Market is characterized by the trend of enhanced demand for renewable energy sources like solar and wind. Rectifiers play an indispensable role in renewable energy applications by converting generated AC power to required DC form for storage or transmission purposes. Governments across the world are formulating supportive policies and offering subsidies to boost the solar and wind energy infrastructure development. This is expected to positively impact the rectifiers demand over the coming years.

Porter’s Analysis

Threat of new entrants: Rectifiers are a mature technology and significant capital is required to enter the market. It is dominated by a few large players who have strong hold in the market.Bargaining power of buyers: Many buyers are dependent on a few major suppliers for rectifiers. Also, rectifiers are commodity products with less scope for customization. This gives suppliers a edge over price-sensitive buyers.Bargaining power of suppliers: Suppliers have significant bargaining power over buyers due to the technology and capital intensive nature of rectifiers manufacturing. Also, the fragmented market structure gives them pricing leverage.Threat of new substitutes: Rectifiers technology remains core for many applications like power supplies, battery chargers. No direct substitutes can replace them completely though alternatives like other power electronic components compete on certain applications.Competitive rivalry: The market is dominated by a handful of large global players who spend significantly on R&D and have diversified product portfolio. Intense competition on pricing and new product development exists.

North America accounts for the largest share of global rectifiers market in terms of value. This is attributed to significant presence of manufacturing bases of major players and broad adoption across diverse industries like automotive, industrial and consumer electronics. Asia Pacific excluding Japan is poised to be the fastest growing regional market on back of swift industrialization, expanding manufacturing capacities and rising consumer goods market in China, India and Southeast Asian countries.

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