Industrial Rectifiers Market Size is projected to reach USD 1380 million by 2030, growing at a CAGR of 4.9%: Straits Research

The global industrial rectifiers market is estimated to grow to USD 1380 million by 2030, at a CAGR of 4.9%, from USD 898 million in 2021, The Asia-Pacific is the strongest industrial rectifiers market and is likely to grow quickly over time.

 | Source: Straits Research Straits Research

New York, United States, June 20, 2023 (GLOBE NEWSWIRE) -- A rectifier is an electrical device that only lets electricity flow in one direction. It is made of things that do not let electricity flow through them or the things which are bad conductors of electricity. Most of the time, these things are used to fix voltage in electrical parts. Industrial rectifiers convert AC power to DC power, which can be used in a lot of different ways. Silicon diodes are used for things that cannot be controlled, while thyristors are used for things that can be controlled. 

There are many kinds of industrial rectifiers, like the Silicon-controlled rectifier (SCR) and the switch-mode power supply (SMPS). These Rectifiers could be cooled by convection, forced air cooling (with blowers), or water cooling with a cooling tower. They are usually put in modular, metal-clad enclosures with a protection rating (IPxx) chosen by the customer and as a self-contained, open-frame unit in a safe (interlocked) area.

Industrial rectifiers are used for things like electrowinning, arc-furnace control, haulage truck assistance, winder/elevator armature and field converters, electroplating, soft starters, and heater control, among other things. The steel industry's growing need for a reliable and efficient power supply, the growth of the industrial footprint around the world, and the rapid spread of the smart grid are boosting market growth.


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Rise in Demand for Industrial Rectifiers in the Steel Industry Driving the Market Forward

In the iron and steel business, a lot has changed in the last 35 years. In 1980, 716 million tons of steel were made, which seemed like an incredible amount at the time. The former Soviet Union made 21% of the world's steel, Japan made 16%, the United States made 14%, Germany made 6%, China made 5%, Italy made 4%, France and Poland each made 3%, and Canada and Brazil each made 2%. In 2020, the world made a total of 1,864 million tons of steel, according to the World Steel Association (WSA), and for producing steel, the industrial rectifiers have contributed a lot.

An industrial rectifier has the most stable arc, the best power quality, independent voltage and current control, a fast return on investment, and the most options for different kinds of raw materials. Due to these benefits, many of the biggest names in the steel industry around the world use industrial rectifiers in their production processes. 

Growing Industrial Footprints Boosting Market Growth

In the last ten years, the industrialization of the world has happened very quickly. The OECD says that the world uses about 90 billion tons of raw materials every year. By 2060, the amount will be almost doubled, reaching 167 Giga tons. This is because the world's population will have grown to almost 10 billion, the world's economy will have quadrupled, and the average income per person will reach the level of the OECD, which is about USD 40,000 a year. This will stress the industries that make things twice as much as it does now.

Due to these things, industrialization has moved quickly around the world, especially in emerging economies with a lot of people, like China and India. Also, the fast growth of small, medium and large businesses in this area is likely to increase the need for industrial rectifiers.

Increase in Demand for Industrial Rectifiers in the Transport Industry to Create Huge Opportunities in the Global Market

In the railway business, rectifiers are very important. For example, silicon diodes and aluminum heatsinks are used in traction rectifiers to change alternating current (AC) to direct current (DC) for use in railway traction. Most of the time, naturally cooled silicon diode rectifiers are used for this because they are easy to make, can handle overloads well, do not need much maintenance, and last for a long time. 

The underground power grid of the subway is designed to make the most of the available energy by converting it to alternating current and sending it back into the urban power grid. Due to these improvements, transportation now uses more rectifiers, which is eventually driving the market forward.

Rising Demand for Smart Transformers Creates Numerous Opportunities for Market Growth

Most of the time, getting energy from sources other than fossil fuels is better for the environment. They can also help people's health and the environment in the area by making the air cleaner. Some sources of renewable energy, like wind and solar power, do not need water to work. This means that they do not pollute the water or put a strain on the water supplies.

More grid instability is likely to happen when more non-linear equipment is used to help renewable energy systems. There is a chance that the electrical grid could fail or that the electronic equipment that makes these renewable energy systems work could be broken. By controlling the voltage of the power they send into the grid, smart transformers help keep the frequency of the grid stable.


Report Scope

Report MetricDetails
Market SizeUSD 1.38 billion by 2030
CAGR4.9% (2022-2030)
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredType, Power
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/VendorsABB, Siemens AG, AEG Power Solutions, Fuji Electric, Diodes Incorporated, Raychem PRG Pvt. Ltd., Dawonsys, etc.
Key Market OpportunitiesIncrease in Demand for Industrial Rectifiers in the Transport Industry
Rising Demand for Smart Transformers
Key Market DriversRise in Demand for Industrial Rectifiers in the Steel Industry
Growing Industrial Footprints

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Regional Segmentation of the Global Industrial Rectifiers Market

The global industrial rectifiers market is primarily divided into three regions, North America, Europe, and Asia-Pacific; where the Asia-Pacific region has the major market share among the other two regions and dominates the overall revenue generation of the global market.

Asia-Pacific is the biggest market for industrial rectifiers, and this market is likely to grow quickly in the future. India and China, which both have economies that are still growing, are working hard to build smart grid technology in their countries. These countries really want to find smart ways to make their electricity grids flexible so they can use renewable energy. The industrial rectifier is one of the most important parts of making smart grid applications work. Also, growing industries like transportation, chemicals, and steel are a big reason why the demand for industrial rectifiers is going up and is expected to grow at a compound annual growth rate (CAGR) of 5.69% over the next few years.

The steel industry in Europe is using industrial rectifiers more and more, which has led to a lot of growth in the market for them. It is expected that the market in Europe will reach USD 337.4 million by 2030, at a CAGR of 4.45%. In 2019, the steel industry in Europe made almost 9% of all the crude steel made in the world. Europe is home to some of the biggest names in the steel business, which helps the area grow. The main industries in Europe that use steel are building, making machines, and automotive manufacturing.

Since the chemical industry is growing quickly in North America, so is the market for industrial rectifiers. North American key players have come back from the crisis by focusing on operational efficiency, asset optimization, and cost management. The chemical industries of several countries in the area, like the US, Mexico, and Canada, have grown a lot. The US chemical industry is growing because energy and raw materials are cheap, and the country has a competitive edge in many key product areas. Because of this, big US companies are spending a lot of money on making chemicals. It has become one of the largest manufacturing markets in the US, serving both the growing domestic market and the growing international market.


Key Highlights

  • The global industrial rectifiers market size is estimated to grow to USD 1380 million by 2030, at a CAGR of 4.9%, from USD 898 million in 2021.
  • The SMPS segment dominates the market with major share at an estimated growth rate of 5.34% during the forecast period.
  • By power, the industrial rectifiers market is dominated by the high current rectifiers which is predicted to grow at a CAGR of 4.96% by 2030.
  • Asia-Pacific is the most dominant region among the top three regions in the global industrial rectifiers market, which is anticipated to grow at a CAGR of 5.69% by 2030.


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Competitors in Industrial Rectifiers Market

  • ABB
  • Siemens AG
  • AEG Power Solutions
  • Fuji Electric
  • Diodes Incorporated
  • Raychem PRG Pvt. Ltd.
  • Dawonsys

Segmentation of Industrial Rectifiers Market

By Type

  • SCR 
  • SMPS

By Power

  • Low to medium current
  • High current

By Region

  • North America
  • Europe
  • Asia-Pacific


TABLE OF CONTENT

  1. Executive Summary
  2. Research Scope & Segmentation
    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. Market Opportunity Assessment
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  4. Market Trends
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  5. Market Assessment
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Raw Material Analysis
    4. Sales And Distribution Channel Analysis
    5. Trade Analysis
    6. Average Pricing Analysis
    7. Case Study Analysis
    8. Patent Analysis
    9. M & A Agreements & Collabration Analysis
    10. Export Import Analysis
    11. Cost Structure Analysis
  6. ESG TRENDS
  7. Global Industrial Rectifiers Market Size Analysis
    1. Global Industrial Rectifiers Market Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. SCR 
        1. By Value
      3. SMPS
        1. By Value
    3. By Power
      1. Introduction
        1. Power By Value
      2. Low To Medium Current
        1. By Value
      3. High Current
        1. By Value
  8. North America Market Analysis
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. SCR 
        1. By Value
      3. SMPS
        1. By Value
    3. By Power
      1. Introduction
        1. Power By Value
      2. Low To Medium Current
        1. By Value
      3. High Current
        1. By Value
    4. U.S.
    5. Canada
  9. Europe Market Analysis
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. SCR 
        1. By Value
      3. SMPS
        1. By Value
    3. By Power
      1. Introduction
        1. Power By Value
      2. Low To Medium Current
        1. By Value
      3. High Current
        1. By Value
    4. U.K.
    5. Germany
    6. France
    7. Spain
    8. Italy
    9. Russia
    10. Nordic
    11. Benelux
    12. Rest Of Europe
  10. APAC Market Analysis
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. SCR 
        1. By Value
      3. SMPS
        1. By Value
    3. By Power
      1. Introduction
        1. Power By Value
      2. Low To Medium Current
        1. By Value
      3. High Current
        1. By Value
    4. China
    5. Korea
    6. Japan
    7. India
    8. Australia
    9. Taiwan
    10. South East Asia
    11. Rest Of Asia-Pacific
  11. Middle East And Africa Market Analysis
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. SCR 
        1. By Value
      3. SMPS
        1. By Value
    3. By Power
      1. Introduction
        1. Power By Value
      2. Low To Medium Current
        1. By Value
      3. High Current
        1. By Value
    4. UAE
    5. Turkey
    6. Saudi Arabia
    7. South Africa
    8. Egypt
    9. Nigeria
    10. Rest Of MEA
  12. LATAM Market Analysis
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. SCR 
        1. By Value
      3. SMPS
        1. By Value
    3. By Power
      1. Introduction
        1. Power By Value
      2. Low To Medium Current
        1. By Value
      3. High Current
        1. By Value
    4. Brazil
    5. Mexico
    6. Argentina
    7. Chile
    8. Colombia
    9. Rest Of LATAM
  13. Competitive Assessment
    1. Adoption Matrix
    2. Industrial Rectifiers Market Share By Manufacturers
    3. Industrial Rectifiers Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  14. Market Players Assessment
    1. ABB
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developments
    2. Siemens AG
    3. AEG Power Solutions
    4. Fuji Electric
    5. Diodes Incorporated
    6. Raychem PRG Pvt. Ltd.
    7. Dawonsys
  15. Research Methodology
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      2. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  17. DISCLAIMER


Table of Content and Figure @ https://straitsresearch.com/report/industrial-rectifiers-market/toc


Recent Developments

  • In June 2022, ABB e-mobility division opened its largest DC fast charger production facility in Italy.
  • In June 2022, Siemens AG introduced new IoT-enabled products and solutions in the market to strengthen Siemens fire safety portfolio.
  • In January 2022, AEG Power Solutions introduced a new generation of UPS with versatile phase configuration.
  • In January 2022, Fuji Electric established a new Plant Systems Center to expand the systems business and take it to the next level.


News Media

Advanced Electrical Steel and Their Applications in Emerging Technologies will propel the Growth of the Global Electrical Steel Market

Large-Scale Residential Construction and Infrastructure Projects Account for the Lion’s Share of Consumption in the Steel Market

Increasing Applications of the Dead Burned Magnesia to Drive Markets


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Tags

Industrial Rectifiers Market AC to DC power supply electrical equipment Silicon-controlled rectifier Ignitron rectifiers SMPS

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