High-power Thyristors Market

Increasing demand for efficient power control solutions is driving the market growth

Market CAGR for high-power thyristors is being driven by escalating demand for efficient power control solutions across various industries. As technological advancements continue to shape the global industrial landscape, there is a growing emphasis on optimizing energy consumption and enhancing overall operational efficiency. High-power Thyristors play a crucial role in power electronics, enabling precise control of electrical power in systems such as motor drives, voltage regulators, and inverters. In industrial applications, where power consumption is often substantial, the deployment of High-power Thyristors facilitates effective power management.

These components are particularly vital in heavy industries such as manufacturing, where large electric motors and machinery require controlled power distribution for seamless operation. The ability of High-power Thyristors to handle high voltage and current levels makes them essential for applications demanding robust and reliable power control.

Additionally, ongoing research and development efforts are leading to the evolution of thyristor technology, enhancing key performance parameters such as switching speed, power density, and reliability. The development of advanced materials and innovative manufacturing processes contributes to the production of High-power Thyristors with improved efficiency and reduced losses.

According to the International Energy Agency (IEA), the global electric car stock surpassed 10 million in 2020, with sales continuing to rise. Moreover, there has been a rise in the adoption of renewable energy with global renewable energy capacity crossing 2799 GW in 2020. As a result demand for High-power Thyristors will increase due to the growing automotive sector and increased adoption of renewable energy. Thus, driving the High-power Thyristors market revenue.

The Global High-power Thyristors Market Industry is experiencing a surge in demand driven by the increasing adoption of renewable energy sources. As countries strive to meet sustainability targets, the integration of solar and wind energy into power grids necessitates advanced power electronics. High-power thyristors play a crucial role in managing the conversion and control of electrical energy from these sources. For instance, the global renewable energy market is projected to grow significantly, with high-power thyristors being essential for efficient energy management. This trend is expected to contribute to the market's growth, with a projected value of 355.2 USD Million in 2024.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American High-power Thyristors market area will dominate this market due to its advanced industrial infrastructure and the presence of key industries such as manufacturing, automotive, aerospace, and defense. The region is at the forefront of technological innovations and has a high adoption rate for advanced power control solutions.

Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: HIGH-POWER THYRISTORS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe High-power Thyristors market accounts for the second-largest market share owing to its strong focus on sustainable energy practices and industrial automation. The European region has been actively investing in renewable energy projects, including wind and solar power installations, driving the demand for High-power Thyristors in power electronics systems. Further, the Germany High-power Thyristors market held the largest market share, and the UK High-power Thyristors market was the fastest-growing market in the European region

The Asia-Pacific High-power Thyristors Market is expected to grow at the fastest CAGR from 2023 to 2032 due to its rapid industrialization, large-scale manufacturing activities, and the burgeoning demand for consumer electronics. Moreover, China’s High-power Thyristors market held the largest market share, and the Indian High-power Thyristors market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in R&D to introduce innovative High-power Thyristor products. This includes improvements in performance, efficiency, and the ability to handle higher power ratings. Market participants are also adopting a variety of strategic activities to expand their global footprint, with significant market developments including new product launches, Customization for Specific Applications, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations and research institutes. To foster growth and survive in a more competitive and rising market climate, High-power Thyristors industry must offer customized solution.

Establishing subsidiaries, distribution networks, and strategic alliances with local partners helps companies navigate regulatory environments and better understand regional customer needs. Hence many global player have adopted these tactics to increase their market share in global High-power Thyristors industry. In recent years, the High-power Thyristors industry has offered some of the most significant advantages to Consumers.

Major players in the High-power thyristors market, including ABB Ltd., Siemens AG, Schneider Electric SE, Honeywell International Inc., Analog Devices, Inc., and others, are attempting to increase market demand by investing in product development to increase their product line and cater to diverse consumer needs.

Siemens is a prominent technology company, specializing in industry, infrastructure, transport, and healthcare solutions. With a focus on resource-efficient factories, resilient supply chains, and advanced healthcare technologies, Siemens creates purpose-driven innovations that bring tangible value to its customers. By seamlessly integrating the physical and digital realms, Siemens empowers industries to undergo transformative changes, shaping the everyday experiences of billions worldwide. Siemens Healthineers, in which Siemens holds a majority stake, is a leading global medical technology provider shaping the future of healthcare. Additionally, Siemens holds a strategic minority stake in Siemens Energy, a key player in electrical power transmission and generation.

In September 2021, Digi-Key Electronics has announced a distribution partnership with Siemens, expanding its product offerings to include Siemens' extensive range of automation and control products.

ST is a prominent global semiconductor leader renowned for providing intelligent and energy-efficient products that serve as the backbone of everyday electronics. With a pervasive presence across diverse applications, ST's semiconductor solutions empower smarter driving, factories, cities, homes, and the evolution of mobile and Internet of Things devices. Collaborating closely with clients, ST plays a pivotal role in advancing technology to enhance the quality of life. The company's commitment to "life. augmented" reflects its dedication to maximizing the potential of technology, contributing to the seamless integration of intelligent solutions into various aspects of modern life.

In June 2022, STMicroelectronics has introduced AEC-Q101 Qualified SCR Thyristors designed for battery chargers, addressing power loss dissipation challenges. With applications in electric vehicle on-board chargers (3.7 to 22 kW range), these Thyristors boast a surge current capability of 600 A and a reliable 200 A/s turn-on performance. Specifically engineered for managing capacitor discharges, they offer compatibility with battery management systems, enhancing their applicability in electric vehicles.