Thyristor Market

• Growing demand for energy-efficient and power-saving solutions across various industries is driving the market growth

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.

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 Global Thyristor Market Industry is projected to experience substantial growth over the next decade. With an estimated market value of 1.7 USD Billion in 2024, the industry is set to expand significantly, reaching approximately 2.67 USD Billion by 2035. This growth trajectory indicates a compound annual growth rate of 4.18% from 2025 to 2035. Such projections highlight the increasing reliance on thyristor technology across various sectors, including renewable energy, industrial automation, and electric vehicles. The anticipated growth underscores the importance of thyristors in meeting the evolving demands of modern power systems.

The burgeoning electric vehicle market is a significant driver for the Global Thyristor Market Industry. As governments and consumers prioritize sustainable transportation solutions, the demand for electric vehicles is surging. Thyristors are essential in power management systems within electric vehicles, facilitating efficient energy conversion and battery management. The increasing production of electric vehicles is likely to bolster the thyristor market, as automakers seek reliable and efficient components. This trend aligns with the broader movement towards electrification in transportation, positioning thyristors as critical enablers of this transition.

The Global Thyristor Market Industry is benefiting from the rising trend of industrial automation across various sectors. Industries are increasingly adopting automated systems to enhance productivity and reduce operational costs. Thyristors are integral components in motor control and automation systems, enabling precise control of electrical power. This trend is particularly evident in manufacturing and process industries, where the demand for efficient power management solutions is escalating. As industries continue to invest in automation technologies, the thyristor market is poised for growth, reflecting the broader shift towards smart manufacturing and Industry 4.0.

Technological advancements in power electronics are significantly influencing the Global Thyristor Market Industry. Innovations in semiconductor materials and circuit design enhance the performance and efficiency of thyristors, making them more appealing for various applications. These advancements are particularly relevant in industrial automation and electric vehicle sectors, where high efficiency and reliability are paramount. As a result, the market is expected to grow at a compound annual growth rate of 4.18% from 2025 to 2035, reaching approximately 2.67 USD Billion by 2035. This growth underscores the importance of continuous innovation in maintaining competitive advantages within the industry.

The Global Thyristor Market Industry is experiencing a notable surge in demand driven by the increasing adoption of renewable energy sources. As countries strive to meet sustainability goals, the integration of solar and wind energy systems has become paramount. Thyristors play a crucial role in power conversion and control within these systems, facilitating efficient energy management. For instance, the global shift towards renewable energy is projected to propel the market to an estimated value of 1.7 USD Billion in 2024. This trend indicates a growing reliance on thyristor technology to optimize energy generation and distribution.

The expansion of smart grid technologies is reshaping the Global Thyristor Market Industry. Smart grids enhance the efficiency and reliability of electricity distribution, necessitating advanced power electronics for effective management. Thyristors are pivotal in smart grid applications, enabling rapid switching and control of electrical power. As countries invest in modernizing their energy infrastructure, the demand for thyristors is expected to rise. This trend reflects a broader commitment to improving energy efficiency and integrating renewable energy sources into the grid, further solidifying the role of thyristors in the evolving energy landscape.

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.

Figure 2: THYRISTOR MARKET SHARE BY REGION 2022 (USD Billion)

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.