Europe is anticipated to remain at the forefront in the near future in terms of the shunt voltage references market share. The presence of various manufacturers in the U.K., Italy, and Germany is projected to augur well for the regional market.
The global shunt voltage references market size is expected to reach US$ 3.6 Billion in 2022 and US$ 7.1 Billion in 2032. It is anticipated to exhibit astonishing growth at a CAGR of 5.4% in the forecast period from 2022 to 2032. The increasing advancement in the consumer electronics, communication technology, and automotive industries is likely to propel the sales of shunt voltage references in the future years.
Shunt voltage references have two terminals, namely, GND and OUT. These are similar to the concept of a zener diode, but have a much better specification. These require an external resistor just like a zener diode and operate in parallel with its load.
These can be regarded as a voltage-controlled current source between the GND and OUT terminals. The regulation is mainly achieved by adjusting the level of current so that the power-supply voltage drops.
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The shunt reference governs the reference voltage by acting as a variable current sink, thereby creating a variable resistor divider to deliver a constant voltage at the output node. The external resistor is needed for regulation, but there is no maximum voltage rating for the shunt reference.
Which are Some Prominent Drivers Spearheading Shunt Voltage References Market Growth
The increasing demand for shunt voltage references to accelerate efficient industrial automation in various end-use industries is a major factor that is set to bolster the global market. Factors, such as ease of use, minimized noise pollution, and low procurement cost are also expected to drive the growth in this market.
The ever-increasing integration of shunt voltage reference modules in various devices owing to their compact nature is another factor that is likely to bode well for the market. The rising usage of these references in battery-operated devices, wind- and solar-powered systems, automotive electronics, and portable electronics to ensure their optimal functionality and improve efficiency is also likely to augur well for the global market.
What are the Challenges Faced by the Shunt Voltage References Industry
Output voltage production is a very time-consuming process, which may hamper the shunt voltage references market size in the assessment period. Various components that are present in these references require regular replacement and maintenance. It is expected to surge the overall operational cost of these references, thereby obstructing the growth.
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Why is Europe Emerging as an Opportunistic Shunt Voltage References Market
Europe is anticipated to remain at the forefront in the near future in terms of the shunt voltage references market share. The presence of various manufacturers in the U.K., Italy, and Germany is projected to augur well for the regional market.
The presence of a well-established automotive industry in this region is another vital factor that is estimated to drive the market. According to the Society of Motor Manufacturers and Traders (SMMT), in 2019, more than 1.3 million cars (2.5 million engines and 78,270 commercial vehicles) were manufactured in the U.K. These numbers are projected to grow at a steady pace in future years, thereby propelling the Europe market.
How is Asia Pacific Contributing to Growth of the Shunt Voltage References Market
The rising demand for efficient industrial automation in India and China is estimated to propel the Asia Pacific shunt voltage references market growth in the upcoming years. The increasing number of large enterprises and SMEs in these countries is another significant factor that is expected to augment the growth in the regional market.
Companies are nowadays reducing the size of shunt voltage references for convenient usage and this factor is also set to fuel the growth. Besides, the rapid expansion of the consumer electronics industry owing to the high disposable income and changing lifestyles of people is anticipated to accelerate the Asia Pacific market.
Market Competition
Some of the renowned companies present in the global shunt voltage references market include Amphenol, NXP Semiconductors, Rohm Semiconductors, Texas Instruments Inc., Fairchild Semiconductor, Arrow Electronics, Inc., Infineon Technologies, Intersil Corporation, Diodes Incorporated, Methode Electronics, Inc., Analog Devices, Inc., and Maxim Integrated among others.
Leading companies are aiming to join hands with various prominent automotive and consumer electronics manufacturers across the globe. They are doing so to provide their in-house products to these manufacturers and gain a competitive edge. Meanwhile, a few other key players are increasingly focusing on acquisitions and new product developments to expand their portfolios and generate more shares in the global market.
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Key Segments Profiled in the Shunt Voltage References Industry Survey
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Nov 10, 2022
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