Selbyville, Delaware, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the SCR Power Controller Market was estimated at $150 million in 2019 and is slated to exceed $165 million by 2026, registering a CAGR of 3.4% from 2020 to 2026. The report provides a detailed analysis of the drivers and opportunities, market estimations as well as size, wavering industry trends, competitive scenarios, major winning strategies, and key investment avenues.
SCR power controller market from resistive loads is anticipated to grow on account of its efficient voltage optimization and superior current conversion characteristics. A steady supply of power, prevention of potential brownouts, and effective management of power surges are some of the key features offered by SCR power controllers, which will boost the product deployment. Moreover, resistive load power controllers allow conservation of power and benefits in extending the equipment life, which in turn augments the product penetration across the globe.
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Three-phase SCR power controllers are anticipated to be adopted across various industries on account of its growing applications across several industries. Effective accommodation of higher loads and delivery of power at a steady & constant rate are some of the paramount features fueling the product demand of three phase controllers. Furthermore, the growing demand for digitalized and reliable control systems in industrial heating processes across metal and oil & gas industries will positively influence the SCR power controller market landscape.
Heating equipment in the food & beverage industry is primarily deployed for extrusion, drying, sterilization/pasteurization, cooking, baking and browning processes. The SCR power controllers provide precise control of heating elements, which is a very important aspect in the food industry. For instance, in a tunnel furnace for baking croissants, the SCR power controllers provide precision and accuracy in temperature control, which enables a consistent finish in a bake. In addition, It can be easily installed even in a small machine owing to its compact size and provide reliable operations, which will drive the SCR power controller market demand across the small & medium scale facilities.
Asia Pacific region will witness substantial growth in the SCR power controller market on account of ongoing industrialization across emerging nations including China, India, South Korea, and Japan. A positive outlook toward the development of new industrial bases has significantly increased the regional heating and temperature control products demand. Governments of several other nations are introducing policies to attract more foreign participation in the industrial sector, providing a positive impact in SCR power controller installations.
Some major findings in the SCR power controller market report include:
- Reduction in operational downtime owing to an early indication of maintenance requirement will favor the product adoption.
- Reduced material cost for monitoring and controlling devices across industrial heating processes on account of the compact structure of the controller will drive the industry growth.
- Increasing manufacturing industries across developing nations will boost product demand.
- Ongoing process digitalization across industries will complement the SCR power controller adoption over the traditional equipment.
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Key players operating in the SCR power controller industry include Eurotherm by Schneider Electric, Advanced Energy Industries, Watlow, and Control Concepts amongst others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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