Diodes Market Size is Expanding Around USD 10.5 Billion by 2032
According to Precedence Research, the global diode market size was valued at USD 7.2 billion in 2022 and it is expanding around USD 10.5 billion by 2032 with a CAGR of 3.85% from 2023 to 2032.
Ottawa, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The global *diode market size* will reach at USD 7.48 billion in 2023. A diode is a semiconductor that exclusively conducts electricity in single direction and has two terminals. If reverse voltage falls outside of the permissible range, the reverse barrier breaks down, and the voltage at this breakdown takes place is referred to as the reverse breakdown voltage.A semiconductor material with a p-n junction is the type of diode semiconductor that is most frequently utilized. It has two electrical connections linked to it. Currently, silicon and other semiconductors like germanium & gallium arsenide are used to make diodes. The diode serves as a valve in electronic and electrical circuits because it may allow or prevent the passage of electricity.
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Diode demand is anticipated to increase quickly due to increased demand due to its crucial importance in electric circuits. Due to the region's expanding semiconductor output, the Asia Pacific region will hold a sizable market share and have sizable expansion potential.
*Regional Snapshots*
In 2022, Asia Pacific represented for 34% of the volume of the global diode market. The development is mostly attributable to the *consumer electronics* and automotive sectors, which accounted for a sizable share of Asia Pacific's total consumption. China accounts for a sizeable percentage of the Asia Pacific diode market. North America and Europe are two other key markets for diodes, with value shares of 31% and 24% of the global market, respectively, in 2021. Growing demand for laser diodes in the region's IT & communications and automotive industries is what is driving the market in North America. The Middle East & Africa has a larger market for diodes than Latin America, but it is anticipated that Latin America's market will grow more swiftly than that of the Middle East & Africa.
*Report highlights*
· The market for Schottky diodes is estimated to grow at a rate of 5.9% from 2023 to 2032.· The diodes market is expanding swiftly as a result of the high number of electronic and automotive manufacturers in Asia as well as rising consumer purchasing power.· Due to their ability to help doctors focus the beam more precisely on targeted areas, preventing unintended damage to the surrounding area, laser diodes have seen an increase in demand over the past few years in the healthcare industry.
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*Scope of the Report*
*Report Attributes* *Details*
Revenue Forecast by 2030 USD 10.5 Billion
CAGR 3.85% from 2023 to 2032
Largest Revenue Holder Asia Pacific
Fastest Growing Region North America
Base Year 2022
Forecast Year 2023 to 2032
Key Players LUPIN (India), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Pfizer Inc. (U.S.), Sanofi (France), Amgen Inc. (U.S.), Lilly (U.S.), AstraZeneca (U.K.), AbbVie Inc. (U.S.), Johnson & Johnson Private Limited (U.S.), LEO Pharma A/S (Denmark), Merck & Co., Inc. (U.S.), Bausch Health Companies Inc. (Canada), Bristol-Myers Squibb Company (U.S.) and Others
*Market **D**ynamics*
*Drivers*
Manufacturers in the automotive, electrical, and communication industries substitute integrated circuits employing discrete diodes for digital circuitry. Condensing discrete components to sizes in millimeters and micrometers improves power efficiency and speed because smaller components have lower parasitic capacitances, inductances, and resistors. Producers in end user markets, however, should be aware of the pros and cons of discrete diodes in order to effectively create products.
Diodes are used in clipper circuits, voltage regulators, surge suppressors, reference elements, and rapid change. The sector is anticipated to advance due to the adoption of numerous government initiatives on latest distribution networks and generating infrastructure. By 2021, the International Energy Agency predicts that 6.6 million *electric vehicles* will have been sold worldwide. 9% of all new automobiles sold worldwide were electric vehicles. The cooling fan in the battery management system of an electric car uses diodes. Electric cars are becoming more popular, which benefits the diode market. Additionally, as advanced driver systems are increasingly used, there is a rise in semiconductor demand in the automobile sector, which opens up new market potential. To improve the efficiency of charging electric vehicles, schottky diodes are also being offered by power diode producers in new and modified forms. As an improvement over current items, new ones are also being introduced. A development over silicon schottky diodes, which are typically restricted to 200 volts, is the introduction of schottky diodes with high voltage power.
*Restraints*
Due to its severe effects on the labor and supply chain of the market value chain, COVID 19 has a detrimental effect on the diodes market. Most businesses have put off hardware upgrades and other lengthy migration initiatives as a result of the epidemic. As an illustration, the rollout of the 5G plan has been delayed in numerous nations where the introduction of commercial 5G services has been delayed. Diverse diodes are needed for the infrastructures of *5G services*, and delays also slow the expansion of the demand for diodes.
*Opportunities*
Because of their low cost, wide availability, and tempting incentives that are increasing demand for consumer devices, the market for diode *semiconductors* is growing quickly. Additionally, the top market companies are making significant investments in R&D projects to produce cutting-edge consumer electronics. For instance, Renesas acknowledged its ownership of the open-source company Arduino in a new round of series B funding announced in June 2022. In accordance with the agreement, Renesas will offer a variety of products for its worldwide developer community to utilize with the Arduino technology platforms. In May 2022, Renesas reported a separate investment in Kai City, Japan's Kofu Factory. The investment aims to boost the business's capacity to manufacture power semiconductors. In an effort to encourage decarbonization, it is done. If the Kofu plant is successful in attaining mass production, Renesas' entire manufacturing capacity for power semiconductors will more than treble. Additionally, it is projected that these factors would stimulate market expansion. Market growth, however, can be limited by pricing and product design. All of these factors are thus positively affecting the global market for diodes.
*C**hallenge*
During the projected period, expansion of the worldwide diode market is anticipated to be constrained by the limitations of diodes as well as their high starting cost. Low output power is a common diode's main flaw. Single laser diodes are unable to produce the power output necessary for long-distance communication in deep space. In order to match the power needs for such applications, many lasers must be run concurrently, which raises the price of the laser system. Temperature has a significant impact on laser diode output, hence any rise in temperature results in greater power losses. Additionally, laser technology may be applied to a number of industrial activities, such as drilling, labeling, and cutting. However, the high starting prices of these equipment may make it difficult for the laser diode business to expand.
Hence, over the forecast period, it is anticipated that growing environmental concerns over the mining of precious earth elements would restrain the expansion of the worldwide diode market.
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*Recent developments*
· In May 2022, Semtech Corporation, a top global supplier of high-performance analog and mixed-signal semiconductors and cutting-edge algorithms, was acquired by Micross Components, Inc., a provider of high-reliability microelectronic product and service solutions for defense, space, aerospace, medical, and industrial applications and a portfolio company of Behrman Capital.
· The second-generation Silicon Carbide 1200V 80m Power MOSFET modules from SemiQ, Inc. will be made available in April 2022. The widely accepted SOT-227 packaging was used to build these modules. SemiQ's SiC MOSFETs provide outstanding efficiency to high-performance applications like as electric cars, power supply, and data centers. They are particularly developed and tested to work reliably in difficult situations. SemiQ's MOSFETs switch faster and with less losses than prior Silicon IGBTs, offering system-level advantages such decreased size, weight, and cooling needs.
*Segment Covered in the Report*
*By Indication Type*
· Schottky
· Zener
· Rectifier
· ESD
· Others
*By Application*
· Consumer Electronics
· Communication
· Automotive
· Manufacturing
*By Geography*
· North America
· Europe
· Asia-Pacific
· Latin America
· The Middle East and Africa
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