SCR Power Controller Market Size

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.