SCR Power Controller Market size is poised to reach USD 423 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of SCR power controller was USD 145 Million. The market growth is impelled by the increasing adoption of renewable energy sources. The acceptance and use of renewable energy are rising globally owing to its abundance and its ability to alleviate global warming. Moreover, grid integration of renewable energy necessitates the use of SCR power controllers to manage the power flow and maintain the stability of the grid. According to estimates, more than 90% of the expansion in the world's electricity capacity is anticipated to come from renewable sources by 2026.
The growing technological advancements are believed to fuel the SCR power controller market. For instance, in 2020 Advanced Energy introduced its new Thyro-A+ to provide next-generation SCR accuracy and significantly lower energy consumption, in precision heating applications.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 5% |
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Base Year Market Size (2023) |
~ USD 145 Million |
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Forecast Year Market Size (2036) |
~ USD 423 Million |
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Regional Scope |
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Phase (Three Phase, Single Phase)
SCR power controller market from the Single phase segment is estimated to gain a robust revenue share of 60% in the coming years. Single-phase power controllers have slim bodies that are only 55 mm wide, making them easy to install, and they also help prevent damage to valuable machinery and appliances.
Load (Resistive, Non-Resistive)
The non-resistive segment in the SCR power controller market is set to register substantial growth through 2036, on account of the growing need for low current applications. It is expected that the growing focus on energy efficiency in several industries has led to an increase in demand for low-current applications. Non-resistive load allows precise control over power delivery and helps in minimizing voltage spikes in low-current applications. Moreover, they ensure efficient energy consumption crucial for low current applications.
Our in-depth analysis of the global SCR power controller market includes the following segments:
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Phase |
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Load |
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Control Method |
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Industry |
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Current Rating |
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North American Market Forecast
SCR power controller market in North America is predicted to account for the largest share of 51% by 2036, impelled by the rising chemical sector. The US Chemical Industry is among the biggest producers in the world by a wide margin, and a substantially faster growth in chemical output in the United States was reported in 2022. This may increase the demand for SCR power controllers in the region since they are widely used in the chemical industry to control the level of temperature which is crucial in various chemical processes. In the United States, the chemical industry's production volume is anticipated to grow by over 4% in 2022.
APAC Market Statistics
The Asia Pacific SCR power controller market is estimated to be the second largest, during the forecast timeframe, led by growing awareness of environmental sustainability among consumers. This has led to an increase in focus on energy optimization in various industrial processes, leading to higher demand for SCR power controllers.
Author Credits: Rushikesh, Richa Gupta
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