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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2036 |
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CAGR |
~7% |
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Base Year Market Size (2023) |
~USD 10 Billion |
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Forecast Year Market Size (2036) |
~USD 72 Billion |
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Regional Synopsis |
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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:
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Application |
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Type |
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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.
Author Credits: Abhishek Verma, Hetal Singh
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