Zener Diodes Market Trends

Growth Drivers

• Rising of Global Manufacturing Hub – According to statistics, by the end of 2030, India's manufacturing hub could add over ~USD 490 billion to the global economy. Moreover, India has the potential to become a global manufacturing hub.
• Growth of Automobile Industry – With the increased adoption of electric and hybrid vehicles along with various innovations like autonomous car technology, regenerative braking is surging demand for Zener diodes in the automotive industry. According to International Energy Agency (IEA), around 10% of global car sales were made up by the electric vehicle segment in 2021, which is about 4 times the market shares in 2019.
• Increased Research & Development Expenditure - As per data by the World Bank, global research and development expenditure in proportion with gross domestic product (GDP) was around 2.63% in 2021, up from 2.2% in 2018.
• Increasing Government Support Through Various Schemes and Policies – According to statistics, in 2019, the Government of India launched the National Policy on Electronics (NPE), which aims to provide a turnover of around ~USD 390 billion in domestic manufacturing by the end of 2025.
• Growth of Telecommunication Industry – The increasing trend of device miniaturization coupled with the continuous demand for Zener diodes for this purpose is anticipated to fuel the market growth in the coming years. According to the data, in India, around USD 11 billion was allocated to the Department of Telecommunications in the Union Budget for 2022-23.

Challenges 

• Associated Design Complexities Hampers the Market Growth
• Zener Diodes are Unable to Resist High Load Currents
• Shortage in Supply of Zener Diodes