Fast Rectifier Market Projected to Exhibit a High Single-Digit CAGR through 2018-2026
Fast Rectifiers, in the era of fast changing market of electronic and semi-conductor industry, have a noteworthy impression on the time-to-market of any product in circulation. Growing adoption of fast rectifiers in strobe applications that require high surge resistance is one of the prime factors which is driving the growth of the global market. Moreover, industrial, commercial, and automotive sectors are identified to significant support market growth. The increasing number of vehicles and rise in electrification have created potential opportunities for the market players to capitalize on.
"According to the report published by Persistence Market Research (PMR), the global fast rectifier market is projected to exhibit a CAGR of US$ 4.9% from 2018 to 2026. It is expected to touch approximately US$ 2,719 Mn by the end of 2026 rising from a valuation of over US$ 1,792 Mn in 2017".
Vehicle Electrification to Trigger Demand for Fast Rectifiers
The increasing electrification in vehicles such as the emergence of hybrid and electric vehicles. This factor is influencing the expansion of the market for fast rectifiers in various regions such as North America, Europe both Western and Eastern, and Asia Pacific. These hybrid and electric vehicles have relatively a higher semiconductor content as compared to conventional vehicle models. With the surging demand for fuel and operational efficiency, electrification is an attractive option for construction, commercial, and agricultural vehicles. Fast rectifiers are integrated in electric and hybrid vehicles to significantly reduce the commutation losses in output rectification circuits. These dynamics are forecasted to fuel the growth of the fast rectifier market across the globe.
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Fast Rectifiers are deployed in several areas such as power generation systems, factory automation, industrial motion control, and transportation and railways systems. At present, industries in countries such as India, Japan, Germany, U.S. and China are moving towards robust digitization and are creating ideal conditions for software-based embedded systems, automation, and manufacturing which is expected to generate huge demand for fast rectifiers across the globe. Moreover, the rising demand for smart ICT-based machines, networks, and systems is expected to give rise to incremental opportunities for the market in the coming years.
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Changing Taxation and Tariff Policies for Electronic Equipment to Inhibit Market Growth
In the recent past, it has been observed that, countries in various regions such as North America, Asia Pacific, and Western Europe are changing import tariffs and taxes imposed on electronic instruments and consumer electronic products, which is an aspect negatively impacting the sales of semiconductors and related electronic devices in these regions. The decreasing sales of the equipment owing to the taxation policies and tariffs might slow down the growth of the global fast rectifier market in the near future.
Recommendation: Collaboration with automobile manufacturers is the need of the hour for the vendors of Fast Rectifiers.