Thyristor Electric Power Controller Market Size was valued at USD 125.8 million in 2022. The Thyristor Electric Power Controller Market industry is projected to grow USD 199.1349 million by 2032. exhibiting a compound annual growth rate (CAGR) of 4.70% during the forecast period (2024 - 2032). The growing demand for energy-efficient solutions and the increasing adoption of electric vehicles, which require precise power control and regulation are the key market drivers fueling the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for thyristor electric power controller is being driven by increasing energy efficiency concerns worldwide. As the demand for electricity continues to rise, there is a growing need for precise and efficient power control mechanisms. Thyristor-based electric power controllers offer a highly effective means to regulate voltage and current in electrical systems, reducing energy wastage and enhancing overall efficiency.
The adoption of electric vehicles is on the rise, driven by environmental concerns, government incentives, and advancements in battery technology. Thyristor electric power controllers play a critical role in EV charging infrastructure, as they provide precise control over the charging process, ensuring safety and efficient power delivery. Thyristor controllers enable the management of power flow in charging stations, helping to mitigate issues like grid congestion and load balancing. Moreover, they enhance the safety of high-power charging, preventing overheating and damage to both the EV and the charging equipment.
Additionally, industries are increasingly turning to automation to improve efficiency, reduce operational costs, and enhance product quality. Thyristor electric power controllers are integral to automation systems, regulating the power supplied to various industrial equipment such as motors and heaters. Thyristor controllers ensure stable voltage and current levels, preventing voltage spikes and other disruptions that could lead to equipment damage or product defects. This reliability is a significant driver in the adoption of thyristor controllers across industries.
According to the International Energy Agency (IEA), energy efficiency improvements can lead to a 40% reduction in global energy demand by 2040. The U.S. Department of Energy reports that industrial motor systems account for approximately 25% of global electricity consumption, highlighting the need for energy-efficient control solutions like thyristor controllers. Also, electric vehicle charging infrastructure is growing rapidly. In the U.S., the number of electric vehicle charging stations has increased from around 500 in 2011 to over 40,000 in 2021. As a result, the above factors are expected to drive the Thyristor Electric Power Controller market revenue.
The Thyristor Electric Power Controller Market segmentation, based on Type includes Single Phase, Three Phase, and Other. The three phase segment dominated the market, accounting for more than half of market revenue. This is linked to the common use of Three-phase power in industrial and commercial applications due to its higher power-carrying capacity and efficiency. Many industrial machines and equipment require three-phase power for operation.
The Thyristor Electric Power Controller Market segmentation, based on Application includes Plastic Processing, Industrial Furnace Construction, and Others. The industrial furnace construction segment dominated the market, accounting for more than half of the market revenue. This dominance is attributed to Industrial furnaces been used in a wide range of industries, including metal smelting, ceramics, and glass production. These processes require precise temperature control and power management to ensure product quality and energy efficiency.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Thyristor Electric Power Controller market area will dominate this market. The region's robust manufacturing, automotive, and aerospace industries demand precise power control solutions. Additionally, North America has been at the forefront of electric vehicle adoption, driving the demand for thyristor controllers in the EV charging infrastructure.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Thyristor Electric Power Controller market accounts for the second-largest market share because European countries have aggressive targets for reducing greenhouse gas emissions, which necessitates efficient power control solutions. Moreover, Europe is a leader in renewable energy adoption, particularly in wind and solar power generation. The integration of renewables into the power grid requires advanced power control systems, and thyristor controllers play a pivotal role in this. Further, the German Thyristor Electric Power Controller market held the largest market share, and the UK Thyristor Electric Power Controller market was the fastest-growing market in the European region
The Asia-Pacific Thyristor Electric Power Controller Market is expected to grow at the fastest CAGR from 2024 to 2032. The region hosts a significant portion of global manufacturing, including electronics, automotive and heavy machinery industries. These industries heavily rely on thyristor controllers for process control and energy efficiency. Moreover, China’s Thyristor Electric Power Controller market held the largest market share, and the Indian Thyristor Electric Power Controller market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product range to cater to a broader set of applications and customer needs. Offering a variety of thyristor electric power controllers for different power ratings, voltage requirements, and industrial sectors can help capture a larger market share. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, customization service, after-sales support, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Thyristor Electric Power Controller industry must offer a cost-effective solution.
Providing educational resources, such as training programs or webinars, to customers and industry professionals can build trust and credibility is a key business tactic that manufacturers in the global Thyristor Electric Power Controller industry can use to benefit clients and increase the market share. In recent years, the Thyristor Electric Power Controller industry has offered some of the most significant advantages to Consumers. Major players in the weight loss products market, including Omega, Chromalox, Watlow Electric, Mc Goff-Bethune, CD Automation, and others, are attempting to increase market demand by investing in product development to increase their product line and cater to diverse consumer needs.
Since its founding in 1962, OMEGA has undergone a remarkable transformation from its origins as a manufacturer of thermocouples to becoming a prominent global leader in the technical marketplace. Today, OMEGA stands at the forefront of innovation, boasting an extensive portfolio of over 100,000 cutting-edge products dedicated to the precise measurement and control of various critical parameters such as temperature, humidity, pressure, strain, force, flow, level, pH, and conductivity. OMEGA also caters to the diverse needs of its clientele by offering a full range of supplementary services. This includes data acquisition systems, electric heating solutions, and a suite of custom-engineered products, ensuring that customers have access to a holistic suite of resources tailored to their specific requirements. In June 2023, the company introduced the latest HANI Tank Temperature Sensor for metal tank applications, showcasing its enduring commitment to precision and non-invasive temperature sensing technology.
Chromalox, a leader in advanced thermal technology, specializes in addressing the most challenging industrial heating needs worldwide. With a century-long history of innovation, they pioneered electric heating technology, beginning with the invention of the first metal-sheathed resistance heating element. This groundbreaking advancement not only initiated a whole industry but also set the stage for their continued innovative journey. Their expertise shines in sectors with demanding requirements, where they are recognized for delivering solutions that surpass specifications, mitigate risks, and drive down operational costs. In December 2018, the company unveiled its latest range of boilers featuring the innovative DirectConnect heating technology during the Power Gen International event. These high-capacity steam boilers are tailor-made for extensive industrial use, boasting an impressive steam output of up to 21,353 lbs/hr and standard pressure capabilities of up to 450 psig. Notably, the product line accommodates voltage ranges reaching up to 6,600 volts, facilitating cost-effective installations while delivering exceptional operational efficiency.
Chromalox
Mc Goff-Bethune
Advanced Energy
Tempco Electric Heater Corporation
PAYNE ENGINEERING
Celduc Relais
Athena Controls
Eurotherm
Distech Controls
Kele
RKC Instrument Inc.
Deltat
CCI power
Cristal Controles
Viconics, NuWave
ISE
Maxwell Electrical
CD Automation
June 2022: Watlow Electric Manufacturing Company has recently entered into a partnership with Schneider Electric to complete the acquisition of Eurotherm. The strategic move is aimed at harnessing Eurotherm's specialized knowledge in power, process, and temperature control products, further strengthening Watlow's capabilities in these domains.
June 2021: Advanced Energy Industries Inc. has successfully acquired Tegam, Inc., strategically integrating complementary RF power instruments into its portfolio. This move enhances Advanced Energy's position as a leader in the power process domain.
Single Phase
Three Phase
Other
Plastic Processing
Industrial Furnace Construction
Other
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 125.8 million |
| Market Size 2032 | USD 199.1349 million |
| Compound Annual Growth Rate (CAGR) | 4.70% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Omega, Chromalox, Watlow Electric, Mc Goff-Bethune, Advanced Energy, Tempco Electric Heater Corporation, PAYNE ENGINEERING, Celduc Relais, Athena Controls, Eurotherm, Distech Controls, Kele, RKC Instrument Inc., Deltat, CCI power, Cristal Controles, Viconics, NuWave, ISE, Maxwell Electrical, and CD Automation. |
| Key Market Opportunities | Growing demand for energy-efficient solutions |
| Key Market Dynamics | Rising electric vehicle adoption is driving the market growth |
Frequently Asked Questions (FAQ) :
The Thyristor Electric Power Controller Market size was USD 125.8 million in 2022.
The global market is projected to grow at a 4.70% CAGR during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Omega, Chromalox, Watlow Electric, Mc Goff-Bethune, Advanced Energy, Tempco Electric Heater Corporation, PAYNE ENGINEERING, and Celduc Relais.
The Three phase category dominated the market in 2022.
The Industrial Furnace Construction had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
