Austin, Aug. 01, 2024 (GLOBE NEWSWIRE) -- The Thyristor Protectors Market Size was Valued at USD 0.70 billion in 2023 and is estimated to Reach USD 1.006 billion by 2032 and grow at a CAGR of 4.11% over the forecast period of 2024-2032.
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Key players
- Unicron Technologies Corporation
- Diodes Incorporated
- STMicroelectronics
- Microchip Technology
- ON Semiconductor
- ProTek Devices
- TE Connectivity
- CYG Wayon
- Shenzhen Ruilongyuan Electronics Co., Ltd
- SSG Semiconductor
The rising electronics sector, especially in areas such as Vietnam, is leading to an increased need for Thyristor protectors. Given Vietnam's electronic exports surged from USD 47.3 billion in 2015 to USD 114.4 billion in 2022, and mobile phone exports alone hitting USD 57.9 billion in 2022, the importance of strong power protection is crucial. The Thyristor protectors market has a major opportunity for growth, fueled by factors like trade agreements, government policies, and a competitive labor market. As companies depend more on electronics for their activities, the need for dependable power protection to protect delicate equipment will grow, leading to an increase in market size.
Foreign companies, particularly multinational corporations, dominate Vietnam's energy and infrastructure sector. Notably, LG and Apple have shifted some parts of their production operations to Vietnam. Fox Conn's injection of USD246 million into new Vietnamese facilities in 2022 further supports the pattern, as a key supplier to Apple. The increasing adoption of electronic devices and the government's initiatives to draw in foreign investments suggest a promising outlook for the Thyristor protectors industry in Vietnam.
In addition to Vietnam, multiple factors in different countries are driving the global market for Thyristor protectors. The growth of automated systems, Internet of Things (IoT), and Industry 4.0 leads to an increased number of connected devices in various sectors, rendering them more susceptible to electrical disturbances. The higher risk necessitates more Thyristor protectors to safeguard these systems. The rise in sustainable energy sources like solar and wind power is posing challenges in power distribution due to voltage fluctuations and lightning-induced surges. Thyristor protectors are crucial for ensuring the reliable operation of delicate electronic components in renewable energy systems. Data centers, with their large collection of electronic devices, are a significant factor in the demand for Thyristor protectors because they are prone to power interruptions.
The significant increase in IoT investment within the US manufacturing sector, expected to reach USD 45.3 billion by 2022 from USD 12.6 billion, is an illustration of the worldwide movement towards connected devices and sustainable energy sources. The increase in electronic devices and intricate power systems requires strong protection, highlighting the essential need for Thyristor protectors in maintaining trustworthy operations.
Thyristor Protectors Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 0.70 billion |
| Market Size in 2032 | USD 1.006 billion |
| CAGR (2024-2032) | 4.11% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
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Segment Analysis
By Type
By Type, Direct type dominated the Thyristor protector market with 65% of revenue share in 2023. Direct type Thyristor protectors are the top pick for protecting delicate electronics because of their exceptional ability to manage voltage spikes. Their rapid response rate and efficient energy absorption make them perfect for essential tasks such as data centers and industrial automation. Littelfuse and STMicroelectronics are at the forefront of creating advanced Thyristor protectors to cater to the growing needs of modern electronic systems.
By Application, Utility and power distribution dominated the Thyristor protector market with 42% of revenue share in 2023. The power distribution industry is a significant user of Thyristor protectors because of the essential requirement for dependable power protection in contemporary electrical grids. The growing complexity of power systems and the emphasis on improving infrastructure are leading to an increased need for these devices. Thyristor protectors are essential for protecting power distribution networks and guaranteeing a consistent and continuous power supply.
Regional Analysis
North America Dominated the Thyristor protector market with 30% of revenue share in 2023. North America dominates the Thyristor protectors market because of its advanced infrastructure, strong industrial foundation, and emphasis on technological advancement. The region's vast power distribution systems require dependable protection, leading to a high demand for such devices. This dominance in the market illustrates North America's dedication to grid reliability and its influence on future electrical protection technologies.
Europe is the fastest in the Thyristor protector market with 25% of revenue share in 2023. Europe is quickly embracing Thyristor protectors due to modernizing infrastructure, expanding renewable energy, and strict regulatory standards. The strong industrial sector in the area, along with smart grid technology investments, results in a high need for dependable surge protection. Siemens, Schneider Electric, and ABB are at the forefront of developing innovative Thyristor protectors to address the changing power distribution requirements in Europe.
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Key Takeaways
- Explore new markets and segments for growth opportunities.
- Be well-informed when making choices about developing products, marketing strategies, and sales tactics.
- Evaluate the strong points and areas for improvement of rivals in order to achieve a competitive advantage.
- Give importance to investments and distribute resources efficiently.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Thyristor Protectors Market Segmentation, By Type
- Direction Type
- Mounting Type
8. Thyristor Protectors Market Segmentation, By Application
- Consumer Electronics
- Medical Equipment
- Telecommunication
- Utility and Power Distribution
- Others
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. Use Case and Best Practices
13. Conclusion
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