New York, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The global thyristor market size is slated to expand at ~7% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 72 billion by the end of 2036, up from a revenue of ~USD 10 billion in the year 2023.The market size is attributed to the use of control gadgets such as thyristors in control management. The lightweight, less expensive, compact size, upkeep driving, fast reaction, and ability to decrease time slack features are propelling the market growth. Proton-Electrotex launched the single component diode and thyristor modules B0 to enhance the electrical and thermal parameters and to achieve IFAV/ITAV values up to 700 A.
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Additionally, the rise in the rate of population and multiplying demand for electricity in developing economies is estimated to boost the market size. The thyristor helps to reduce loss of switching, and short switch time for semiconductor field effect in metal oxide transistors to meet the electricity demand. The energy consumption of the U.S. in 2022 reached 100 quads while the production was 103 quads recording[MK1] an all-time high with 14 times greater than that consumed since 1950.
The Strict Regulation on Emissions and Growing Electric Vehicle Usage is Driving the Growth of the Thyristor Market
The development of fuel-efficient vehicles such as hybrid vehicles, hydrogen fuel vehicles, and electric vehicles is fueling the market size. The pressure on automobile firms to manufacture more electric vehicles to meet the market demand is proliferating the market growth. Further, the requirement for charging stations for the battery power for these electric vehicles is reckoned to hike the market trends. Over 24,000 units of hybrid cars were sold in India in 2023 surpassing[MK2] the electric vehicles sales of 21,4000 units respectively.
Thyristor Market: Regional Overview
Presence of Prominent Key Players and a Surge in Thyristor Producers is Fostering Market Growth in Asia Pacific Region
Asia Pacific region thyristor market is intended to register a revenue share of 33% in the coming years. The percentage of firms producing thyristors in the region is growing and the presence of dominant key players especially in the advancement of semiconductor items is flourishing the market growth. The adoption of HDVAC (heating, direct air capture, ventilation, and air conditioning) in developing nations of the region is boosting the market growth. The increasing count of[MK3] Indian cities will grow from 40 to 70 with the growing population of one million is estimated to raise the demand for HVAC systems.
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Demand for Energy Saving Electronic Systems in Various Sectors is Propelling the Market Expansion in the North America Region
The market of thyristors in the North America region is envisaged to secure the second largest share during the forecast period on account of the growing demand for energy-efficient systems in various end-user sectors. Escalating growth of end-user verticals such as power transmission, motor vehicles, and consumer electronics is propagating the market size. Deployment of smart grid systems and focus on renewables is predicted to fuel the market trends. With the expansion of digitalization, mobile phones will be the most popular consumer electronics device across the globe in 2023 with[MK4] almost 98% of the population owning a mobile.
Thyristor, Segmentation by Application
- Industrial
- Home Appliances
- Electronic Sector
- Automotive
The automotive segment from the thyristor market is protruding to secure a significant market share of 40% during the coming years owing to its use in power applications on account of its low failure rate. The increasing ratio of use in the power sector to convert energy into different forms for various purposes is assessed to fuel the market segment size. The STMicroelectronics automotive thyristors provide 1200[MK5] V blocking ability at a junction temperature of 150º C with target OBC and BMS applications needing high voltage and temperature ability.
Thyristor, Segmentation by Type
- Low Voltage
- Medium Voltage
- High Voltage
The low voltage segment of the thyristor is analyzed to dominate the market during the projected period with a share of 40%. The escalating trend of automation in various industries is expected to strengthen the market segment size owing to the applications of thyristors in electric motors. Over half of the businesses across the world will be automated[MK6] by the end of 2024 owing to its high production, and efficiency rates. The low-voltage thyristors are used for material handling, pumps, fans, and conveyor belts to control speed and torque.
A few of the well-known industry leaders in the global thyristor market that are profiled by Research Nester are STMicroelectronics, Vishay Intertechnology, Schneider Electric, TSMC, Sensata Technologies, Porton-Electrotex, ABB Ltd, Analog Devices, Inc., Eaton Corporation Plc, Fuji Electric Co., Ltd, and others.
Recent Development in the Market
- STMicroelectronics introduced the AECQ101 Qualified SCR Thyristors for battery charges to provide control of inrush current and management of capacitor discharges. The Thyristors are of automotive grade with a qualification or use in electric vehicles ranging from 3.7 to 22 kilowatts. The product has the capability of 600A surge current, 200 A of turn-on reliability with less power loss, and can fit battery management systems.
- ProtonElecyrotex revealed the introduction of new thyristor and thyristor-diode modules MT3-700-18-A2 with high power density by advancing the semiconductor design with minimal changes. The module was developed with a new topology to enhance the active cathode area by 10% reducing the thickness of the diffusion element and improving the efficiency.
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