SCR Power Controller Market Trends

Growth Drivers

Rising Adoption of Industry 4.0 – Industry 4.0 describes the growing trend towards automation can be defined as the integration of technology such as the Internet of Things (IoT), cloud computing and analytics, AI, and machine learning into their manufacturing processes. SCR power controller helps in controlling electric power for machinery and is considered an integral part of smart manufacturing.
Growing Sales of Electric Vehicles - This has led to an increase in demand for charging infrastructure which necessitates the usage of SCR power controllers for fast charging. According to estimates, in 2022, more than 73 million vehicles were sold worldwide, with electric automobiles making up over 14% of those sales.

Challenges

Supply Chain Disruptions – SCR power controller is made from various specialized components and materials that require precise manufacturing processes which are often sourced from different regions which may lead to disruptions in case of any vulnerability. Besides this, any delay caused by the transportation network can impact the supply of the materials.
Concerns associated with Cybersecurity
Lack of Awareness and Education
Limited Raw Materials

SCR Power Controller Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	~ 5%
Base Year Market Size (2023)	~ USD 145 Million
Forecast Year Market Size (2036)	~ USD 423 Million
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa

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 Trends