The power diode market size has experienced robust growth in recent years, growing from $2.33 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The historical growth can be attributed to the emergence of automotive electronics, regulatory requirements for energy efficiency, the rise of renewable energy technologies, globalization and market liberalization, and the development of high-speed switching applications. Looking forward, the market is expected to maintain strong growth, reaching $3.07 billion in 2028 with a CAGR of 5.7%. This growth during the forecast period is driven by global connectivity and market access, technological innovations in packaging and thermal management, demand for high-frequency switching, electrification of transport infrastructure, and urbanization and infrastructure development. Major trends anticipated include the adoption of wide bandgap materials, advancements in 5G infrastructure, smart grid technologies, efficiency improvements, and the ongoing evolution of automotive electronics.
Major Driver In The Power Diode Market
The increasing adoption of electric vehicles (EVs) is expected to significantly drive the growth of the power diode market in the future. This trend is supported by advancements in battery technology and rising environmental concerns, resulting in enhanced efficiency and lower emissions. Power diodes are vital components in electric vehicles, serving key functions in rectification within charging systems and managing power flow in inverters and converters. For instance, according to the Internal Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of 2023, marking a 25% increase compared to the same period in 2022. By the end of 2023, EV sales are anticipated to reach 14 million, reflecting a 35% year-on-year increase, with growth expected to accelerate in the latter half of the year. Thus, the rising adoption of electric vehicles is driving the expansion of the power diode market.
Request A Free Sample Of The Power Diode Market Report
Power Diode Market Competitive Landscape
Major companies operating in the power diode market are Mitsubishi Electric Corporation, Toshiba Corporation, Texas Instruments, Kyocera Corporation, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices, Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology, Fuji Electric Co. Ltd., ROHM Co. Ltd., Sensata Technologies, Vishay Intertechnology Inc., Littelfuse, Hitachi ABB Power Grids, Nexperia BV, Diodes Incorporated, Microsemi, Semtech Corporation, MACOM, Semikron Danfoss, SanRex, Central Semiconductor Corp, Poseico S.p.A., SMC Diode Solutions LLC, SemiQ, Akela Laser Corporation
Key Power Diode Market Trend
Major companies in the power diode market are concentrating on developing advanced compact surface-mount package solutions to improve circuit protection. Compact surface-mount package solutions refer to small, flat packages designed to be directly mounted onto the surface of printed circuit boards (PCBs). For example, in May 2023, Littelfuse Inc., a U.S.-based industrial technology manufacturing company, introduced the LTKAK2-L Series High Power TVS (transient voltage suppression) diodes, featuring a compact, surface-mount package compatible with automated PCB assembly processes. This modified SMTO-218 package enables designers to achieve robust circuit protection while utilizing less PCB space compared to existing axial-leaded options. With a surge current rating of 2 kA, these diodes meet IEC-61000-4-5 Level 4 requirements, safeguarding various high-reliability AC and DC power supplies and their applications.
Purchase The Global Power Diode Market Report Directly And Get A Swift Delivery
Global Power Diode Market Segmentation
The power diode market covered in this report is segmented –
1) By Type: Schottky Diodes, Zener Diodes, Rectifier Diodes, Punch-Through Diode, Other Types
2) By Application: Metals Melting And Electrolysis, Voltage Clamping, Drives, Input Rectifier For AC-Drives, Voltage Multiplying, Power Conversion
3) By End-Use Industry: Automotive, Consumer Electronics, Telecommunications, Energy And Power, Industrial, Aerospace And Defense
By Geography:The regions covered in the power diode market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the power diode market in 2023. North America is expected to be the fastest-growing region in the forecast period.
The Power Diode Global Market Report 2024 furnishes information about the global power diode market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
