Thyristor Market Size & Share, by Application (Industrial, Home Appliances, Electronic Sector, Automotive); Type (Low Voltage, Medium, High Voltage) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5620
  • Published Date: Feb 07, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Thyristor Market size is projected to cross USD 72 Billion by the end of 2036, expanding around 7% CAGR during the forecast period i.e., 2024-2036. In the year 2023, the industry size of the thyristor was over USD 10 Billion. The expanding utilization of thyristor control gadgets in control applications is boosting the development of the thyristor industry. Electric engines are utilized in a wide run of control applications, traversing many watts to thousands of kilowatts. Thyristors are broadly utilized to control voltage utilizing different single-phase AC/DC converters. Thyristor-controlled gadget reacts quicker, due to its capability of decreasing the time slack caused by the generator field and alternator. Thyristor-controlled gadgets are smaller in estimate, lighter in weight, less costly, and require less space & upkeep driving to their expanding application in an assortment of gadgets. In June 2021, Proton-Electrotex propelled B0 Diode & Thyristor with moved forward electrical and warm parameters which empowered IFAV / ITAV values of up to 700 A. 

Due to the growing population, electricity demand continues to rise in emerging economies. Thyristor are used to reduce the loss of switching, as well as a short switch time for metal oxide semiconductor field effect transistors that satisfy current electricity demand. Consequently, in developing economies, there is a high demand for them.


Thyristor Market overview
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Thyristor Market: Key Insights

Base Year

2023

Forecast Year

2024 - 2036

CAGR

~7%

Base Year Market Size (2023)

~USD 10 Billion

Forecast Year Market Size (2036)

~USD 72 Billion

Regional Synopsis

  • 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)
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Thyristor Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Growing Penetration of EVs Due to Strict Emission Norms and Changing Charging Infrastructure - The fabrication of fuel-efficient automobiles is anticipated to endure as a result of this regulation's execution. Given this, the automakers need to extend the number of electric vehicles they create, which can dynamically increment the utilization of IGBTs. Similar to this, developing ventures and exercises to set up extra charging stations by critical companies like Charge Point, Zap America, and Volkswagen are significantly boosting the advertising for charging stations for electric vehicles. With a USD 2 billion speculation, Charge Point and Zap America joined in 2019 to introduce 30,000 Level 2 and DC quick charging stations over the US by 2023. 
  • Government Initiatives Supporting the Use of Electric Motor - The initiatives taken by governments in several countries to replace aging power infrastructure are major factors that are expected to fuel the growth of the thyristor market over the forecast period. The growth of the market is also expected to be stimulated by an increase in electric motor adoption for business, industry, and home use. 

Challenges

  • High in Cost - Thyristor are relatively expensive compared to alternative technologies such as insulated-gate bipolar translators. This initial investment cost can be a barrier for some applications, especially in cost-sensitive sectors.
  • Threat from Substitute Technologies is Anticipated to Hamper the Thyristor Market Growth in the Upcoming Period
  • Environmental Concerns Associated with it are Expected to Pose Limitation on the Market Growth in the Forecast Period.


Thyristor Segmentation

Application (Industrial, Home Appliances, Electronic Sector, Automotive)

Based on application segmentation, the automotive segment in the thyristor market is anticipated to hold the largest revenue share of 40% by 2036. Thyristor are crucial in power applications because of their low statistical failure rate. Thyristor are utilized extensively in the power industry to convert electrical energy between different forms for a variety of electrical applications. A thyristor manages wide-range voltage effectively and affordably by utilizing the optimum on-load tap-changer and saturated reactor architecture. Using thyristor gate control, systems with thyristor rectifiers provide smooth, step-less regulation from zero to the recommended voltage. Increased usage of thyristor in vehicle ignition systems has contributed to the segment’s expansion. After declining by 18% in 2020, new automobile sales are expected to increase by 15% in 2021. Commercial vehicle sales will rise by 16% in 2021 following a 16% decrease in 2020.

Type (Low Voltage, Medium, High Voltage)

Based on type, the low voltage segment is estimated to dominate the thyristor market registering a growth of 40% by the end of the forecast timeframe. Low voltage thyristors are employed in variable frequency drives for controlling the speed and torque of electric motors in various industrial applications like material handling, conveyor belts, pumps, and fans. This demand is fueled by the growing trend of automation across industries. Besides, low-voltage thyristors are employed in various power electronics circuits such as rectifiers, choppers, and inverters used in UPS systems, battery chargers, and traction drives for electric vehicles. The burgeoning demand for reliable and efficient power electronics solutions accelerates the market growth.

Our in-depth analysis of the global thyristor market includes the following segments:

          Application

  • Industrial
  • Home Appliances
  • Electronic Sector
  • Automotive

          Type

  • Low Voltage
  • Medium Voltage
  • High Voltage

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Thyristor Industry - Regional Synopsis

APAC Market Forecasts

The thyristor market in the Asia Pacific region is anticipated to hold the largest revenue share of 33% during the time period between 2024 – 2036. Because of the expansive number of thyristor producers in Asia-Pacific, it is the fastest-growing showcase for thyristor. Besides, numerous well-established players are centering on innovative progressions in semiconductor items, which can assist boost the development of the region's thyristors advertise amid the estimated period. The increasing adoption of HDVAC in creating nations is additionally boosting the thyristors showcase. For case, agreeing to Powerline Magazine, India is centering on coordinating high-voltage current (HVDC) transmission frameworks since they permit power to be transmitted over long separations with negligible misfortune. Right now, HVDC transmission lines account for 4% of transmission line length. Moreover, in 2020, India's transcendent voltage sort of electricity transmission line was 400 kV, bookkeeping for 43% of the entire line length. With 42%, it is taken after by 220 kV transmission lines. 

North American Market Statistics

The thyristor market in the North America region is estimated to grow significantly during the studied period. Demand for thyristor in a variety of sectors, including power transmission, motor vehicles, and consumer electronics is driven by the increasing demand for energy-saving electronic systems. In addition, market growth is anticipated to be driven by a growing focus on renewables and the deployment of smart grid systems in North America.

Research Nester
Thyristor Market size
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Companies Dominating the Thyristor Market

top-features-companies
    • STMicroelectronics
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Vishay Intertechnology
    • Schneider Electric
    • TSMC
    • Sensata Technologies
    • Proton-Electrotex
    • ABB Ltd
    • Analog Devices, Inc
    • Eaton Corporation Plc

In-the-news

In The News

  • In June 2022, STMicroelectronics launched the AECQ101 Qualified SCR Thyristors for the regulation of current and the management of Capacitor Discharges for battery chargers. These Thyristors, which range from 3.7 to 22 kW, can reduce the loss of power and are useful for electric vehicles on board chargers. It is capable of 600A of current surge, 200A of turnon reliability, and is compatible with battery management systems leading to their widespread use in electric vehicles.
  • ProtonElectrotex has announced the launch of new thyristor and thyristordiode modules 3-700-18,2 with increased power densities. The upgrade of the semiconductor element with minimal changes to additional design elements has led to an increase in power density. In particular, the module has been designed with a new topology which increases the operational area of the cathode by 10 %, reduces the thickness of the diffusion element and enhances its diffuse profile.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5620
  • Published Date: Feb 07, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing demand in EVs and increasing demand in renewable energy are some of the major factors anticipated to drive the growth of the thyristor market.

The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2024-2036.

The major players in the market are of Sensata Technologies, Proton-Electrotex, ABB Ltd, Analog Devices, Inc, Eaton Corporation Plc, Fuji Electric Co., Ltd, and others.

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

The market in Asia Pacific is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Thyristor Market Report Scope
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