Portland, OR, Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global SCR power controller market generated $145.0 billion in 2021, and is projected to reach $223.2 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $145.0 billion |
| Market Size in 2031 | $223.2 billion |
| CAGR | 4.5% |
| No. of Pages in Report | 291 |
| Segments Covered | Type, load type, control method, application, and region. |
| Drivers | Extensive application of SCR power controllers to monitor and control thermal processes in a broad range of industries |
| Surge in industrialization | |
| Opportunities | Prevalence of government regulations related to effective electricity use in the industrial sector |
| Rise in emphasis on energy conservation | |
| Restrains | Lack of expertise in operating and maintaining SCR power controllers on a routine basis |
COVID-19 Scenario:
- The outbreak of the COVID-19 has had a negative impact on the growth of the global SCR power controller market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of SCR power controllers. In addition, adverse supply chain challenges of other industries also impacted the growth of the market.
- The chemical industry, for instance, was impacted mainly due to stock prices of chemical companies having unexpected hits and the competitive order of chemical products has changed instantaneously in many countries such as China, the U.S., etc.
- Apart from that, reduction in skilled workforce and shortage of raw materials due to ban on import and export of items further aggravated the impact on the market. These restrictions were imposed by the government to curb the spread of the virus during the pandemic.
The report offers detailed segmentation of the global SCR power controller market based on type, load type, control method, application, and region.
Based on type, the single phase segment held the dominating market share in 2021, holding three-fifths of the global SCR power controller market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 4.7% during the forecast period. The report also analyses other segments such as the three phase segment.
Based on load type, the resistive segment held the dominating market share in 2021, holding more than two-thirds of the global SCR power controller market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 4.8% during the forecast period. The report also includes non-resistive segment.
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Based on application, the chemical segment held the dominating market share in 2021, holding one-fourth of the global SCR power controller market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 4.9% during the forecast period. The report also analyses other segments such as Food and Beverage, Semiconductor, Metals, Oil and Gas, and others.
Based on region, the market across Asia-Pacific region held the largest market share in 2021, holding more than two-fifths of the global SCR power controller market share, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 4.8% during the forecast period. The report also analyses other regions such as North America, Europe, and LAMEA.
The key players analyzed in the global SCR power controller market report include ABB, Ltd, Advanced Energy industries, Avatar Instruments, Cd Automation S.r.l., Control Concepts Inc., Chromalox, Inc., Honeywell International Inc., JUMO India Pvt. Ltd., RKC Instrument Inc., Spang Power Electronics, SCR Elektroniks Pvt, Ltd., SCHNEIDER ELECTRIC, INC., Siemens AG, Unison Controls Pvt. Ltd., and Watlow Electric Manufacturing Company.
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The report analyzes these key players in the global SCR power controller market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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