Thyristor Market Size valued at USD 1.5 Billion in 2022. The Thyristor market industry is projected to grow from USD 1.563 Billion in 2023 to USD 2.172 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.20% during the forecast period (2024 - 2032). Increased demand for energy-efficient and power-saving solutions across various industries, adoption of electric vehicles (EVs), and the expansion of EV charging infrastructure are the key market drivers enhancing the market growth.
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for thyristors is being driven by the rising demand for energy-efficient and power-saving solutions across various industries. Thyristors, also known as silicon-controlled rectifiers (SCRs), are semiconductor devices that play an important role in power electronics by controlling the flow of electrical current. In industries such as manufacturing, thyristors are extensively used in motor drives, heating systems, and other applications where precise control of electrical power is essential. The ability of thyristors to manage power flow efficiently enhances the overall energy efficiency of industrial processes, reducing energy consumption and operational costs.
As the global focus on renewable energy sources intensifies, thyristors are integral components in power electronics for renewable energy systems. They are employed in inverters and converters for solar and wind energy applications, facilitating the efficient conversion and distribution of clean energy. This drives the growth of the thyristor market in tandem with expansion of the renewable energy sector. Thyristors contribute to energy savings in heating, ventilation, and the air conditioning (HVAC) systems and the building automation. By precisely controlling the power supplied to HVAC components and other electrical devices within buildings, thyristors enable more efficient energy utilization, promoting sustainability and cost-effectiveness in commercial and residential settings. Thyristors play a vital role in enhancing power quality by regulating voltage and current levels. In applications like static VAR compensators (SVCs) and static synchronous compensators (STATCOMs), thyristors help maintain stable power distribution, reduce line losses, and improve the overall efficiency of power transmission and distribution systems.
The growth of the electric vehicles (EVs) is driving the demand for thyristors in battery chargers and motor drives. Thyristors efficiently control the charging and discharging of batteries, contributing to the overall energy efficiency of electric vehicles and supporting the transition to sustainable transportation. Thyristors are integral components in smart grid systems, enabling precise control and optimization of power flow. By facilitating efficient energy distribution and demand response capabilities, thyristors contribute to the development of intelligent and energy-efficient grid infrastructures. In the rapidly expanding data center industry, thyristors are used in the uninterruptible power supply (UPS) systems to ensure a stable and reliable power supply. Their role in controlling and regulating power flow contributes to energy efficiency and reliability in critical data center operations. Thus driving the Thyristor market revenue.
The Thyristor Market segmentation, based on power rating, includes 500 MV, 500 MV-1000 MV, and 1000 MV. The 500 MV segment dominated the market, accounting for the largest market revenue share due to the critical role it plays in high-power applications across various industries. As industries increasingly demand more powerful and efficient electronic components, the 500 MV power rating allows thyristors to handle substantial electrical loads, making them ideal for applications like high-capacity industrial drives, large-scale power transmission systems, and high-voltage direct current (HVDC) projects. The dominance of the 500 MV power rating signifies the capability of thyristors to support the growing energy needs of industries, offering a reliable and scalable solution for high-power applications. Further, the fastest-growing category of thyristors is 500 MV-1000 MV due to the increasing demand for thyristors in power generation and transmission applications. 500 MV-1000 MV thyristors are well-suited for these applications because their high power handling capabilities and reliability.
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
The Thyristor Market segmentation, based on end use, includes Consumer Electronics, Telecommunication and networking, Industrial, Automotive, Aerospace and defense, and Others. The consumer electronics category dominates the market due to the widespread use of thyristors in various devices and applications within this sector. Thyristors, specifically silicon-controlled rectifiers (SCRs), play a crucial role in power control and voltage regulation in consumer electronic devices such as TVs, audio systems, and home appliances. Their ability to efficiently control the flow of electrical current makes them essential for ensuring the reliability and performance of electronic products. As the demand for energy-efficient and high-performance consumer electronics continues to rise, the thyristor market experiences significant growth due to its integral role in powering and regulating these devices. Further, telecommunications & networking is the fastest growing category for thyristors. This is due to the increasing demand for wireless data services, which is driving the need for more telecommunications equipment.
By region, the study gives market insights into the North America, Europe, Asia-Pacific, and the Rest of the World. The North American Thyristor market area dominates this market due to the region's strong industrial base, extensive adoption of advanced technologies in sectors like manufacturing and energy, and a consistent demand for thyristors across diverse applications, from consumer electronics to industrial machinery.
Further, the prime countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil.
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Thyristor market accounts for the second-largest market share due to a growing emphasis on energy efficiency, increased adoption of renewable energy sources, and the integration of thyristors in industrial automation and power electronics applications across the continent. Further, the German Thyristor market held the largest market share, and the UK Thyristor market was the fastest-growing market in the European region.
The Asia-Pacific Thyristor Market is expected to grow at the rapid CAGR from 2023 to 2032. This is due to rapid industrialization, increasing demand for energy-efficient solutions, and the widespread adoption of electronics and power systems across diverse sectors in the region. Moreover, China’s Thyristor market held the largest market share, and the Indian Thyristor market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in the research and development in order to spread their product lines, which will help the Thyristor market grow even more. Market players are also undertaking a variety of strategic activities to spread their global footprint, with important market developments including mergers and acquisitions, new product launches, contractual agreements, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Thyristor industry must offer cost-effective items.
Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the global Thyristor industry to benefit the clients and increase the market sector. In recent years, the Thyristor industry has offered some of the most significant advantages to several industries. Major players in the Thyristor market, including Eaton Corporation, Siemens AG, Scheider Electric SE, Mitsubishi Electric Corporation, Hitachi Ltd., STMicroelectronics NV, Infineon Technologies AG, Power Semiconductors, Analog Devices, Inc., Semikron, and others, are trying to increase market demand by investing in the research and development operations.
Eaton Corporation, a multinational power management company, is a prominent player in the electrical, aerospace, hydraulics, and vehicle industries. Headquartered in Dublin, Ireland, with operational headquarters in the United States, Eaton boasts a global presence. Eaton's expertise spans electrical distribution and control, hydraulics components, aerospace systems, vehicle drivetrain and powertrain systems, and industrial automation. With a commitment to sustainability and innovation, Eaton addresses the complex power challenges faced by industries worldwide, emphasizing solutions that enhance energy efficiency, safety, and reliability. Eaton Corporation plc announced on October 4, 2023, that it had acquired Cooper Bussmann for US$5.9 billion. Cooper Bussmann is a leading provider of electrical protection and power distribution products, including thyristors. The acquisition is expected to expand Eaton's product portfolio and geographic reach.
Schneider Electric SE is the leader globally in the energy management and automation, offering a comprehensive range of products, solutions, and services across various industries. Headquartered in Rueil-Malmaison, France, Schneider Electric operates on a broad scale, providing innovative technologies for energy efficiency, sustainability, and automation. The company has evolved into a key player in the digital transformation of energy management and the automation. Schneider Electric's diverse portfolio spans power distribution, industrial automation, building management systems, data centers, and renewable energy solutions. Schneider Electric SE announced on September 27, 2023, that it has formed a partnership with ABB Ltd. to develop and manufacture thyristors. The partnership is expected to bring together the two companies' expertise in thyristor technology to develop innovative and reliable products for the market.
September 2023: Mitsubishi Electric Corporation announced that it has formed a partnership with Fuji Electric Co., Ltd. to develop and manufacture thyristors. The partnership is expected to bring together the two companies' expertise in thyristor technology to develop innovative and reliable products for the market.
September 2023: Hitachi, Ltd. announced that it had acquired ABB Power Grids AB for US$7 billion. ABB Power Grids is a leading provider of electrical protection and power distribution products, including thyristors. The acquisition is expected to expand Hitachi's product portfolio and geographic reach.
September 2023: GE Transportation announced that it had acquired Kawasaki Heavy Industries, Ltd. for US$5.2 billion. Kawasaki Heavy Industries, Ltd. is a leading provider of thyristor electric locomotives. The acquisition is expected to expand GE Transportation's product portfolio and geographic reach.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.5 Billion |
| Market Size 2023 | USD 1.563 Billion |
| Market Size 2032 | USD 2.172 Billion |
| Compound Annual Growth Rate (CAGR) | 4.20% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Power Rating, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Eaton Corporation, Siemens AG, Scheider Electric SE, Mitsubishi Electric Corporation, Hitachi Ltd., STMicroelectronics NV, Infineon Technologies AG, Power Semiconductors, Analog Devices, Inc., Semikron |
| Key Market Opportunities | Increasing adoption of the electric vehicles (EVs) and the expansion of EV charging infrastructure. |
| Key Market Dynamics | Increased demand for energy-efficient and power-saving solutions across various industries. |
Thyristor Market Highlights:
Frequently Asked Questions (FAQ) :
The Thyristor Market size valued at USD 1.5 Billion in 2022.
The global market is foreseen to surge at a CAGR of 4.20% during the forecast period, 2024-2032.
North America held the biggest share of the global market
The prime players in the market are Eaton Corporation, Siemens AG, Scheider Electric SE, Mitsubishi Electric Corporation, Hitachi Ltd., STMicroelectronics NV, Infineon Technologies AG, Power Semiconductors, Analog Devices, Inc., and Semikron.
The 500 MV category dominated the market in 2022.
Consumer electronics had the biggest share of the global market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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