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India Semiconductor Rectifier (Single Phase and Three Phase) Markets, Competition, Forecasts & Opportunities, FY2028 - Increased Application in Automotives & Development of Smart Grid Drives GrowthDUBLIN, March 27, 2023 /PRNewswire/ -- The "India Semiconductor Rectifier Market" report has been added to ResearchAndMarkets.com's offering.  The India semiconductor rectifier market is expected to witness steady growth in the forecast period, FY2024-FY2028 The market is primarily driven by support from the leading authorities in the form of policies and regulations to modernize the power generation and distribution infrastructure. Also, the announcement of projects focusing on the development of smart grids and the growing proliferation of smart devices in the country are expected to play a significant role in boosting the growth of the India semiconductor rectifier market over the next five years. The smart grid offers several advantages over the conventional grid system, such as lowering the transmission and distribution losses and improving the quality of service and reliability of the power supply. It also boasts better asset management, peak load management, and better accessibility to electricity. The government of India has allocated massive funds for the development of smart grids and announced projects like the Integrated Power Development Scheme, UDAY and NTP, and the National Smart Grid Mission to accelerate the construction of smart grids in the country. A semiconductor rectifier is a crucial electronic component of the smart grid. The growing construction of the smart grid and the announcement of projects is expected to fuel the growth of the India semiconductor rectifier market over the next five years. High disposable income and improved living standards enable the middle-class population to invest in the purchase of electric vehicles. With the rise in the sales of automobiles across the country for commercial, residential, and industrial usage, the demand for power electronics is expected to grow at a significant rate. Market players are actively using advanced semiconductor resisters in automobiles to control the peak and average power of the vehicles. The automotive market players have started to use semiconductor rectifiers along with electric power steering, central body control, braking system, and seat control which is expected to act as a positive factor for the India semiconductor rectifier market over the next five years. Also, the announcement of schemes like Production- linked incentive scheme (PLI) and the Scheme for promotion of manufacturing of components and semiconductors (SPECS) Electronics manufacturing cluster scheme (EMC2.0) by the leading authorities are expected to propel the manufacturing of semiconductor rectifiers. The booming electronics industry and the surge in the set-up of manufacturing plants for power electronics are expected to accelerate the growth of the India semiconductor rectifier market in the forecast period. Competitive Landscape
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