Driven by Increasing Demand for Smart Grids and the rising government expenses on Modern Power Generation and Distribution Infrastructure, the Global Semiconductor Rectifier Market is Forecasted to Cross $10 Bn by 2028 says Ken Research Study.
A semiconductor rectifier is a part of the electrical system with two leads which allows current to flow exclusively in one direction. The device changes alternating current (AC) to direct current (DC) and is a component of the power supplies used in electrical devices.
Ken Research shares 3 key insights on this high opportunity market from its latest research study.
1. Increasing Demand for Telecommunication Equipment to Propel the Market Growth
According to Research estimates, the Global Semiconductor Rectifier Market – which was valued from around US$ 3 Bn in 2017 to nearly US$ 5 Bn by 2022 – is expected to grow further to more than US$ 10 Bn opportunity by 2028.
Key drivers pushing the growth of the Semiconductor Rectifier Market are the rising electrification trend in automobiles, the increasing number of consumer electronic devices and telecommunication services, and the digitization of the industrial sector.
In addition, rising Internet usage and the use of telecommunications equipment in developing nations like China, Brazil, India, and Japan are creating chances for the expansion of the Semiconductor Rectifier Market in the upcoming years.
2. Increasing Adoption of Semiconductor Rectifier in Smart Grid to Propel the Market Growth
The traditional, centralized electricity supply networks are in the process of being replaced with a “smart grid.” This “smart grid” can be thought of as a set of systems or the total of connected mini-grids that have greatly decentralized energy production, storage, and consumption.
The transformation enables more efficient use of an increasing number of renewable energies, replacing the utilization of fossil fuels and nuclear power, even though large-scale power plants remain the major backbone of these networks for the years to come. In addition to power generation and transmission, this transformation will also affect energy storage, communication, and security concerns, making semiconductor rectifiers a dominant and critical component of these new mega-structures in all ranges.
3. Reduced Semiconductor Manufacturing Impacted the market Negatively
The semiconductor industry was compelled to operate at a significantly reduced capacity due to weak demand and COVID safety concerns, which resulted in utilization rates that were historically low. Parallel to this, the semiconductor industry’s major customer, the automobile sector, opted to cancel their backlog and burn through both their completed goods inventory as well as their semi-finished inventory in order to construct what they could. It has in turn negatively impacted the Global Semiconductor Rectifier Market.
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Top Companies in Semiconductor Rectifier Industry
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