The Increasing Demand to Replace the Aging Infrastructure is Driving the Growth of Thyristor Market

Globally, the thyristor market is expected to grow with a CAGR of 7.3% during the forecast period from 2023 to 2030. The market is driven by the increasing demand among the developed countries to replace the aging infrastructure and wide scale deployment of smart grids. The thyristor are widely used across the power electronics applications ranging from power supplies to inverters to controller due to its low switching losses and high energy efficiency. Thyristor works on the short switching times and low switching losses to carter the growing electricity demand. Furthermore, the thyristor are more reliable and longer durability, which makes it an ideal option for the smart grids.

The growing demand for thyristor among the communication network is also acting as a major driver for the growth of the market. Furthermore, the supportive government initiatives for the HDVC installation are further accelerating the adoption of the thyristor market. However, the high infrastructure deployment cost is inhibiting the market growth. Moreover, the declining deployment of the turbines & PV and development of high speed trains is also acting as a major challenge in the market. 

500-900MW is Estimated to Grow Significantly During the Forecast Period  

The thyristor market is categorized based on the power rating into below 500W, 500 to 900MW, and above 1000MW. The below 500MW rating thyristor accounted for more than 45% share in the overall thyristor market revenue in 2021. The growth of the market is attributed to the wide scale adoption of the thyristor in the consumer electronics applications. On the other hand, 500-900MW rated thyristors are estimated to gain significant traction during the forecast period. The market is driven by the its growing demand among the power power generators.   

North America is Leading the Thyristor Market                                              

North America led the global Thyristor market in 2021 with the market share of more than 33%. The growth of the market is driven by the growing demand in the region to replace the aging infrastructure. The rising adoption of the smart grid solutions is further estimated to accelerate the adoption of the thyristor market. Furthermore, the increasing adoption of the offshore wind farm is augmenting the demand in the market.  

The major vendors in the thyristor market are Danfoss A/S, ABB Ltd, SEMIKRON International GmbH, Fairchild Semiconductor International Inc, Hitachi Ltd, Fuji Electric Co. Ltd, Infineon Technologies AG, Renesas Electronics Corp., Mitsubishi Electric Corp., and Toshiba Corp.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Thyristor market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Thyristor market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Thyristor market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Thyristor market?
• Which is the largest regional market for Thyristor market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Thyristor market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Thyristor market worldwide?