Semiconductor Rectifier Market Size, Share & Trends Analysis Report By Product (Single Phase, Three Phase), By Type (Low Current Rectifier, Medium Current Rectifier, High Current Rectifier), By Industry Vertical (Automotive, Consumer Electronics, Power and Utility, IT and Telecom) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The Global Semiconductor Rectifier Market Size was valued at USD 4.2 billion in 2021. It is projected to reach USD 11.1 billion by 2030, growing at a CAGR of 11.4% during the forecast period (2022–2030).

The rectifier is a two-lead semiconductor that allows just one direction of current flow. It is a semiconductor diode that is utilized for rectification and power regulation. Utilizing the features of a junction produced from two inversely doped semiconductor materials, it conducts current preferentially in one direction and blocks current flow in the opposite direction. These are essential components in applications involving power supplies, which convert AC electricity to DC voltage.

Controlling the magnitude of a signal, separating signals from the power supply, rectifying a voltage, and serving as a voltage reference are some of its functions in electrical components. Due to these characteristics, it is mainly utilized as guards in the circuits of electronic components to eliminate the risks of unintentional supply voltage reversal.

The semiconductor rectifier market is undergoing a massive transition and expansion. The quest for increased power efficiency is one of the primary causes of the widespread usage of semiconductor rectifiers. Additionally, the shrinking of electronic components drives the semiconductor rectifier market. Rectifier diodes, which are used to convert AC voltage to DC voltage and are of small size, are an essential component of the power supply.

In addition, the semiconductor rectifier is utilized in several DC power supplies, radio signal or detector systems, and high voltage power transmission systems. In addition, numerous home equipment, such as televisions and video game consoles, computers, and notebooks, require power rectifiers to generate electricity. Furthermore, the demand for semiconductor rectifiers rises as electronic devices such as televisions, mobile phones, and computers become more popular.

Market Dynamics

Market driving factors

• Increasing adoption of smart grids to augment market growth prospect

Some nations, including India, China, and Brazil, are making significant headway in the planning and developing of smart grid technologies. These technologies help create a more flexible power grid, which makes it possible to include various forms of renewable energy. Additionally, it improves service reliability and service level provided to end customers by integrating information and communications technology at multiple stages of the power generation, consumption, and delivery processes. The spread of smart grid technology in developing countries aids in the coordination of the needs and capabilities of all generators, end-users, grid operators, and other stakeholders in the electricity market to run all parts of the system as efficiently as possible, minimizing costs and environmental impacts while maximizing system reliability, stability, and resilience. One of the essential components necessary to ensure the successful application of smart grid technology is semiconductor rectifiers. This factor is driving the need for semiconductor rectifiers.

• Increased government spending on modern electricity generating and distribution infrastructure in emerging nations

The provision of dependable and affordable power is essential to the functioning of the global economy. As a result, governments worldwide are increasing their investments in modern infrastructure for power generation and distribution, particularly in less developed countries. In addition, the emissions that result from many different methods of producing energy create environmental concerns that can potentially adversely affect national security, the economy, and the health of humans. As a result, governments in developing countries around the world are implementing cutting-edge technologies to ensure a reduction or elimination of emissions throughout the power generation process. 

• Increase in the number of telecommunication services and consumer electronics

The industrial industry is undergoing digitization, increasing telecommunication services, and consumer electronic devices, contributing to the need for semiconductor rectifiers. The growing prevalence of the trend toward electrification in the automotive industry is another factor helping the expansion of the market for semiconductor rectifiers. This trend is one of the primary drivers of market growth. In addition, it has been seen worldwide that there has been an enormous surge in demand for smartphones and autos equipped with modern technical features. As a result of this factor, there has been a notable rise in the production of smartphones and automobiles equipped with cutting-edge technical characteristics, which has further pushed the demand for semiconductor rectifiers.

Market restraining factors

• Technical challenges and high prices related to semiconductor rectifiers to restrict market growth

The rectifiers are usually used in electrical components to rectify a voltage, adjust the signal's size, isolate signals from the supply, and voltage reference. As a result of these features, semiconductor rectifiers are utilized in the circuits of electronic components to defend against the risks associated with the accidental reversal of supply voltage. Therefore, if connected incorrectly or inappropriately, it might damage the equipment or be a safety concern. Failure of the rectifier can be caused by various factors, including a battery that is either loose or weak, improper grounding, or a connection to the battery that has worn out. For instance, the failure of the regulator rectifier in an automobile might result in hassle and money when the component needs to be replaced. However, the high cost of obtaining semiconductor rectifiers is a significant factor acting as a restraint that may slow market expansion. A bridge rectifier, for example, requires four diodes; as a result, the cost of this component is higher.

Key market opportunities

• Growing demand for rectifier diodes in a variety of automotive and power sector applications

Recent years have seen an explosion in the number of applications for power electronics in automotive power generation and control. For instance, the automotive industry has implemented a brand-new load-matching method. This method uses a straightforward switched-mode rectifier to dramatically increase peak and average power output from a conventional Lundell alternator and significantly improve inefficiency. Incorporating power electronic components into automobiles and the entire power control and management system paves the way for developing a new set of prospects for using a rectifier. In addition, there is an expectation that attractive chances may present themselves in-vehicle electronics. Examples of potential opportunities in this sector include modern electric power steering, central body control, braking system, and seat control.

Regional Analysis

The global semiconductor rectifier market is primarily classified into three regions, namely North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is the major contributor to the global semiconductor rectifier market and is expected to grow at a CAGR of 13.5% during the forecast period. The Asia-Pacific region is one of the world's top semiconductor rectifiers markets. In Asia-Pacific, demand and manufacturing for cellphones and consumer electronics have increased over the past few years. Also, expanding smart grid technologies and rising power consumption and production in growing Asia-Pacific nations are anticipated to present market opportunities. China, India, and Japan are expected to account for a sizeable portion of the worldwide semiconductor rectifier market.

North America consists of the United States, Canada, and Mexico. The landscape of the semiconductor sector in this region is constantly changing. In the U.S. and Canada, semiconductor rectifier expenditures continue to increase rapidly. This region encourages massive spending in semiconductors and electronics and is home to market leaders such as Texas Instruments Inc. and Microchip Technology Inc. In North America, the primary reason driving the growth of the semiconductor rectifier market is the increase in the development of new technologies and the region's relatively greater dominance due to numerous essential companies. The European market is evaluated for the United Kingdom, Germany, France, Italy, and the rest of Europe. Due to the region's fast-expanding electronics and electrical sectors, there has been a significant increase in semiconductor rectifier usage. The expansion of the semiconductor rectifier market is aided by a rise in government spending and favorable policies in Europe to enhance urban infrastructure.

Segmental Analysis

The global semiconductor rectifier market is segmented by Type and Industry Verticals.

By type:

Based on type, the global semiconductor rectifier market is classified into Single-Phase and Three-Phase.

The three-phase is the major contributor to the global semiconductor market and is expected to grow at a CAGR of 12.4% during the forecast period. Three-phase rectifiers convert A.C. input to D.C. output, and the difference is that three single-phase rectifiers have been combined or connected to a single three-phase generator. It promotes electrical balance in the power loads, hence increasing its efficiency. Most devices used in daily life are D.C. items, and as the need for automobile electrification, consumer electronics, household appliances, and other industries increase, the demand for rectifiers increases. Three-phase rectifiers are most commonly found in high-power appliances.

Over the past several years, a change in demand from the automotive, solar, and industrial sectors has led to a considerable increase in demand. Due to new technologies such as Tesla's electric automobiles, the market will see an increase in demand for rectifier items such as charging stations, transformers, and other products. Using a single-phase transfer secondary coil, single-phase rectifiers are used in solid devices such as chargers and inverters to convert A.C. (alternating current) to D.C. (direct current). Standard power supply in homes and commercial institutions provides alternating current, but most electronics used in these locations are designed to operate on D.C. (direct current). Half-wave rectification is more compatible with current electronics in a single-phase rectifier, expanding its market. Single-phase supply used in homes and offices generates an alternating voltage, making it accessible to various gadgets.

By industry verticals:

Based on Industry verticals, the global semiconductor rectifier market is classified into Automotive, I.T. and Telecom, Power and Utility, and Consumer Electronics.

The automotive category owns the highest market share and is expected to grow at a CAGR of 15.7% during the forecast period. The automotive sector comprises numerous enterprises designing, producing, and selling motor vehicles. The car company uses a semiconductor rectifier in its vehicles to provide direct current to charge the batteries and power all electronic components. With growing innovations in the automotive industry, items such as electronic scooters, electronic automobiles, and electronic charging stations require D.C. power supplies. In addition, the rising need for cars will affect the high-power semiconductor industry, whose products, such as full-wave rectifier diodes, are used to power the motor and other electrical components in autos.

Due to next-generation vehicles such as plug-in hybrid and battery electric vehicles, the semiconductor rectifier demand in the automotive sector has been steadily expanding. The automotive electronic market consists of batteries, charging stations, and power control units. The electricity and utility sector is one of the world's leading industries, and it generates, distributes, and transmits electricity. There is a present growth in demand for hydropower, nuclear power, and windmill due to the global increase in energy consumption. In addition, these plants require high-power rectifier circuits. In addition, the power rectifier circuit monitors the apparatus by converting A.C. to D.C.

Recent Developments

• May 2022- ABB Process Automation Capital Markets Day: Supporting energy transition and digital transformation across industries.
• May 2022- Infineon introduced new high-performance XENSIV™ MEMS microphones with outstanding audio capturing for consumer electronics.
• May 2022- Microchip Introduced Fully Integrated Precise Time Scale System.
• May 2022- Mitsubishi Electric Developed World's First Laser Communication Terminal Integrating Space Optical Communication and Spatial Acquisition.