Semiconductor for Alternative Energy Technology Market - Global Industry Analysis, Growth and Forecast, 2014 - 2020
Albany, NY -- (SBWIRE) -- 04/13/2018 -- Growth in electricity demand across the world is expected to boost demand for semiconductors for alternative energy technology market. Fossil fuel holds the major portion of the electricity generation mix. However, as fossil fuels are growing contributor to greenhouse gases, the governments are increasing their focus on policies and legislation to improve their energy efficiency.
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Demand for energy efficiency is expected to create new growth opportunities in the semiconductors market. Moreover, increasing oil prices are likely to act as a growth catalyst for the global semiconductor for alternative energy technology market. Growing consumer awareness and incentive schemes by the governments are likely to augment growth in the global semiconductor for alternative energy technology market.
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Semiconductors are the key components for optimized energy generation and connection to numerous renewable energy technologies including photovoltaic cells and wind-turbines. Technological advancement and development in high power semiconductors further boosts the global demand for semiconductors for alternative energy technologies.
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Improvements in the bipolar devices, with the introduction of Integrated Gate-Commuted Thyristor, are also anticipated to play a key role in growth of semiconductor for alternative energy technology market. The semiconductors are used for transmission of the power of the grid and conversion of the power in the plant.