Regulator Rectifier Market Size

Regulator Rectifier Market size is expected to reach USD 10 Billion by the end of 2036, growing at a CAGR of 11% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of regulator rectifier was USD 4 Billion. The increasing need for electricity will primarily drive the regulator rectifier market during the forecast period. Moreover, the world's electricity utilization has constantly increased over the past half a century, touching roughly 25,500 terawatt-hours in 2022. Between 1980 and 2022, electricity utilization was over tripled, while the international population touched almost eight billion people. Expansion in industrialization and electricity availability over the world have further accelerated electricity demand.

Another reason behind the growth of the regulator rectifier market during the forecast period is the increasing need for electricity in the industrial sectors. Furthermore, in line with MECS, the mixed energy utilization by six energy-concentrated manufacturing subsectors-chemicals, petroleum and coal products, paper, basic metals, food, and nonmetallic minerals products-similar to 16.9 quadrillion Btu, or 87% of total manufacturing energy utilization. The three biggest energy-using manufacturing subsectors-chemicals, petroleum and coal products, and paper-mixed used approximately 70% of complete manufacturing energy utilization. Inside the industrial sector, manufacturing contributes to the biggest share of yearly industrial energy utilization, usually trailed by mining, construction, and agriculture. Mining comprises extraction of minerals, and nonmineral materials like stone and gravel, coal, oil, and natural gas.