Global Rectifiers Market is Estimated to Witness High Growth Owing to Heavy Reliance on Silicon Carbide and Gallium
The Global Rectifiers Market comprises devices which convert alternating current into direct current for various end use applications. Rectifiers are commonly used in power supply circuits to derive DC power from AC lines or circuits. They find wide usage in power supplies, electric vehicles, charging stations, communication infrastructure and other industrial applications.
Global Rectifiers Market Growth advantages of rectifiers include high power density, enhanced reliability, improved energy efficiency and lowered costs. With increasing adoption of electric vehicles and expansion of charging infrastructure globally, the demand for rectifiers is expected to rise significantly.
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 Global Rectifiers Market Size And Trends from renewable energy sector. Also, the increasing adoption of Silicon Carbide and Gallium Nitride based rectifiers owing to their superior characteristics over silicon will drive new opportunities.
Technological advancements like enhancement of switching speed, power density and thermal conductivity through Silicon Carbide and Gallium Nitride will boost the rectifiers market. These next generation materials allow compact designs and reduces cooling requirements.
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