Industrial Rectifier Market
Industrial Rectifier Market - By Panel type, By Type, By Application & Global Region - Market Size, Trends, Opportunity, Forecast 2021-2026Request Sample Request Discount
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A rectifier is an electrical device that converts alternating current (AC) into direct current (DC). While the industrial rectifiers are being used to convert AC power to DC power for various industrial applications. These rectifiers uses silicon diodes for uncontrolled applications and thyristors for controlled. For most of the industrial and high-power applications, three-phase rectifier circuits are mainly preferred.
These rectifiers are often installed in a metal-clad modular cabinet with a customer-specified protection level and installed as a unit. The rectifier utilizes forced air cooling (using a blower), convection cooling, or water cooling using a cooling tower. Industrial rectifiers are majorly being used in applications such as electroplating, electric arc furnace control, winding/hoist armature and field converters, and electroplating among other applications.
Covid Impact Analysis
COVID-19 has significantly impacted on the global economy through the consequences such as directly affecting production & demand, disrupting supply chains & marketplaces, and affecting enterprises & financial markets financially. For instance, the average share price of metal and mining industry decreased over 10%, as well as most of the standalone companies have lost 40-50% of their market value in the industry. In addition, the companies, such as Rio Tinto, BHP Billiton, and Anglo American, have reported partial shutdowns, resulting in a production loss of about 30%. Aforementioned factors have significantly hampered growth of the worldwide industrial rectifier market during a COVID-19 pandemic.
However, the situation has been stabilising in several regions, enabling the companies to reopen; hence, the worldwide industrial rectifier market is predicted to rise significantly in the post pandemic.
Top Impacting Factors
Upsurge in demand for industrial rectifiers in the United States and Europe is one of the major factors propelling the market. Growth of these regions is attribute to the increased smelting industry expenditures, retrofitting and rehabilitation of outdated technology, increased competition, and new product launches in industrial rectifiers industry. For instance, in May 2021, AEG Power Solutions, a provider of AC and DC power supply systems and solutions launched its new generation of switched mode modular DC charger, Protect RCS MIPe that are based on the new MIPe rectifier modules.
The market players such as ABB, AEG Power Solutions, Siemens, and other companies are actively introducing innovative industrial rectifiers and related services with excellent performance. This factor considerably boosts growth of the market.
In addition to this, upsurge in usage of power thyristors, used in welding machines and high voltage power-controlled applications is further expected to boost growth of the market.
Furthermore, increasing demand for industrial rectifier in a variety of end-use industries, such as smelting, chemical, and others drives growth of the market. Rectifier transformers are being used in industrial processes that require significant supply of direct current (DC). Typical processes include DC traction, smelting, and electrolysis operations.
On the basis region, the global industrial rectifier market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East and Africa. North America accounted for the largest share in the global industrial rectifier market. Growth of this region is primarily attributed to industrialization and urbanization which leads to the sizable growth in the demand of power and power-related conversion systems.
On the other hand, the Asia-Pacific is expected to grow at the highest growth rate during the forecast period. Growth of this region is mainly driven by the growing popularity and adoption of industrial rectifier products, mainly across China, India, Japan, South Korea, and Australia. In addition to this, factors such as improved power infrastructure, rising demand for energy-efficient as well as battery-powered portable equipment, and rising trend of technologies drives growth of the market.
There is rising trend among the market players to introduce innovative industrial rectifier products. For instance, AEG Power Solutions, a global manufacturer of power electronics systems and solutions offers the mSPRe, a new generation of compact rectifier for demanding industrial power supplies and renewable energy applications. In addition, the AEG Power Solutions has recently announced Protect RCS MIPe, a new generation of switch mode modular DC charger which is based on the new MIPe rectifier modules. This system is based on cutting-edge technology which combine rugged design with high efficiency and reliability.
On the other hand, in January 2019, Enedo, a European designer as well as producer of high quality electronic power supplies & systems for critical equipment launched MHE Rectifiers in the European market. These are the modern high efficiency rectifiers for critical backup power applications comprising of typical battery voltages from 24VDC to 220VDC. They are used in critical backup power applications in industrial, power utilities, rail, and telecom industries.
The global industrial rectifier market segmentation is classified into type and application. On the basis of type the market is divided into LCR, MCR and HCR. Further, based on end use industry it is subdivided into smelting industry, chemical industry, transportation and other end use industry. On the basis of application, the market is subdivided into electro-winning, arc-furnace control, haulage truck assist, winder/elevator armature & field converters, electro-plating and other applications.
The major players involved in the global industrial rectifier market are ABB, Siemens, AEG Power Solutions, Dawonsys, Powercon, Raychem RPG, Spang Power Electronics, Neeltran, Xi’an Zhongkai Power Rectifier, Controlled Power, GERE, Fuji Electric, DongAh and PNE SOLUTION.
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