SCR Power Controller Market Share

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.

Frequently Asked Questions (FAQ)

Increasing adoption of renewable energy sources and growing technological advancements are the major factors driving the growth of the market.

The market size of SCR Power Controller is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024 â€“ 2036.

The major players in the market are Siemens, Honeywell International, Inc., ABB, Gefran, Omron Corporation, Chromalox, Avatar Instruments, Jumo, and others.

The single phase segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

SCR Power Controller Market Share