Industrial Rectifier Market: Global Size, Share, Trends, Growth and Forecast 2023-2032
Industrial Rectifier Market Overview
The global industrial rectifier market size is projected to grow at a CAGR of 7.9% during the forecast period 2023-2032. 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.
The industrial rectifier market refers to the demand for rectifiers used in various industrial applications such as aluminum smelting, electroplating, electro-chemical processes, and power conversion. These rectifiers are used to convert alternating current (AC) into direct current (DC), which is necessary for many industrial processes.
The growth of the industrial rectifier market is driven by factors such as increasing demand for electrification in various industries, growing investment in renewable energy sources, and increasing demand for high-efficiency rectifiers. The increasing demand for aluminum smelting and electroplating applications is also expected to drive the market growth.
Industrial Rectifier Market Key Drivers
The growth of the industrial rectifier market is driven by several factors, including:
Increasing demand for electrification: The increasing demand for electrification in various industries, including aluminum smelting, electroplating, and power conversion, is driving the growth of the industrial rectifier market.
Growing investment in renewable energy sources: The increasing investment in renewable energy sources, such as wind and solar power, is leading to a growing demand for industrial rectifiers, as these rectifiers are used to convert AC power into DC power for use in renewable energy systems.
Demand for high-efficiency rectifiers: The increasing demand for high-efficiency rectifiers, which are more energy-efficient and cost-effective compared to traditional rectifiers, is driving the growth of the market.
Growing demand for aluminum smelting and electroplating applications: The increasing demand for aluminum smelting and electroplating applications is expected to drive the growth of the industrial rectifier market.
Advancements in technology: The development of new technologies, such as advanced power electronics, is expected to increase the demand for industrial rectifiers, as these technologies improve the efficiency and performance of rectifiers.
Growing industrialization in emerging economies: The growth of industrialization in emerging economies, such as India and China, is expected to increase the demand for industrial rectifiers, as these countries are investing in infrastructure development and expanding their manufacturing capacities.
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.
Latest Trends
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.
Industrial Rectifier Market Challenges
The industrial rectifier market faces several challenges, including:
High cost: The high cost of rectifiers, due to the use of expensive materials and advanced technology, is a major challenge for the market.
Complex installation and maintenance: The complex installation and maintenance requirements of rectifiers are another challenge for the market, as they require specialized skills and equipment.
Alternative technologies: The availability of alternative technologies, such as AC-DC converters, may impact the demand for industrial rectifiers and pose a challenge for the market.
Stringent regulations: Stringent regulations regarding the use of certain materials and chemicals in the manufacturing of rectifiers may hinder the growth of the market.
Lack of standardization: The lack of standardization in the design and specifications of rectifiers may lead to compatibility issues and pose a challenge for the market.
Competition from low-cost producers: The market faces intense competition from low-cost producers in emerging economies, which may limit the growth of the market.
Industrial Rectifier Market Segmentation
The industrial rectifier market is segmented based on type, end-use industry, and region. Based on type, the market is segmented into single-phase rectifiers, three-phase rectifiers, and others. Based on end-use industry, the market is segmented into aluminum smelting, electroplating, electro-chemical processes, power conversion, and others.
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.
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Industrial Rectifier Market: Report Scope |
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Base Year Market Size |
2021 |
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Forecast Year Market Size |
2022-2032 |
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CAGR Value |
7.9% |
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Segmentation |
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Challenges |
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Growth Drivers |
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Industrial Rectifier Market Regional Synopsis
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.
Industrial Rectifier Market Recent Developments
The industrial rectifier market is witnessing several recent developments, including:
Partnership and collaborations: Companies in the industrial rectifier market are forming partnerships and collaborations with other players in the market, as well as with technology providers, to develop new and advanced rectifiers.
Expansion of production capacities: Companies are expanding their production capacities to meet the growing demand for industrial rectifiers, as well as to increase their market share.
Investment in research and development: Companies are investing in research and development to develop new and advanced rectifiers that are more energy-efficient, cost-effective, and easier to install and maintain.
Expansion into new markets: Companies are expanding into new markets, particularly in emerging economies, to tap into the growing demand for industrial rectifiers.
Mergers and acquisitions: Companies are engaging in mergers and acquisitions to strengthen their position in the market and to increase their market share.
Industrial Rectifier Market Key Players
- Siemens
- AEG Power Solutions
- Dawonsys
- Powercon
- Raychem RPG
- Spang Power Electronics
- Neeltran
- Xi’an Zhongkai Power Rectifier
- Controlled Power
- GERE
- Fuji Electric
- ABB
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- Publication date: 29th January 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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