Selbyville, Delaware, Sept. 26, 2022 (GLOBE NEWSWIRE) --
The SCR power controller market is expected to record a valuation of USD 225 million by 2030, according to the latest research study by Global Market Insights Inc.
The strong demand for reliable and efficient temperature management devices is one of the key factors fostering the industry expansion. Thyristor power controllers or SCR controllers are designed to offer efficiency ratings of over 99.5% and regulate the flow of power to the industrial heater, maintaining the performance of the industrial manufacturing process output. These favorable product attributes will create a strong demand for the product in the ensuing years.
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Rising availability of SCR power controllers for resistive load
In terms of load, the SCR power controller market from resistive segment is set to hold a considerable revenue share during the forecast period. This growth is attributed to the availability of SCR power controllers that can perform a continuous and smooth regulation of power dissipated by varied heating elements for resistive heating load banks. The availability of controllers suited for resistive loads for metal, glass, and ceramic manufacturing has also increased, thereby positively influencing business expansion.
Favorable usage attributes to drive demand for three phase SCR power controllers
The three phase SCR power controller market is poised to register substantial by 2030, credited to the capability of these controllers to be configured seamlessly through software for virtually any application. This power controllers can also be utilized in varied heater types, further fueling industry progression.
Integrated cycle switching to become a popular SCR power control method
In terms of control method, the SCR power controller market from integrated cycle switching segment will depict a high growth rate through 2030, driven by the availability of zero cross-over SCR firing cards designed to replace electromechanical contactors. These cards can eliminate the generation of voltage transients due to the zero cross-over power switching technique with no arcing observed, in turn contributing to the popularity of the integrated cycle switching power control method.
>50 to 500 A SCR power controllers demand to gain traction
In terms of the current rating, the >50 to 500 A segment in the SCR power controller market is projected to witness significant growth by 2030. This type of power controller can offer optimized operational characteristics over a longer working life, wider temperature range, and enhanced diagnostics and control features.
Expansion of semiconductor manufacturing plants to boost the industry development
In terms of end-use, the semiconductor segment is predicted to observe substantial gains through 2030, owing to the robust demand for consumer electronics. The high emphasis of several administrations on the extensive deployment of electric vehicles will further support the development of semiconductor and SCR power controllers. Governments have also implemented favorable policies to expand semiconductor manufacturing plants, stimulating industry progress from the segment.
Introduction of strict emission norms to push the industry growth across Europe
The Europe SCR power controller market is slated to depict a high CAGR by 2030, on account of the introduction of strict emission reduction norms and regulatory frameworks to increase the use of energy-efficient systems. Moreover, the increasing initiatives to replace conventional heating power control products will further augment regional industry demand.
Mergers and acquisitions to remain key growth strategies
Top players operating in the SCR power controller market are Advanced Energy Industries, Inc., Siemens, ABB, Gefran, Control Concepts Inc., Watlow Electric Manufacturing Company, Sichuan Yingjie Electric Co., Ltd., Avatar Instruments, and others. These companies are focusing on merger and acquisition strategies to expand their footprint across the global market.
For instance, in June 2022, Watlow Electric Manufacturing Company inked an agreement with Schneider Electric to acquire Eurotherm. This initiative was intended to allow Watlow to leverage Eurotherm’s expertise in power, process, and temperature control products.
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Partial Table of Contents (ToC) of the report:
Chapter 3 SCR Power Controller Market Insights
3.1 Industry ecosystem analysis
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Growing manufacturing bases across developing nations
3.5.1.2 Optimized and economical operational characteristics
3.5.1.3 Increasing demand for digitalized controllers
3.5.2 Industry pitfalls & challenges
3.5.2.1 Availability of alternative technologies
3.6 Growth potential analysis
3.7 Porter's Analysis
3.8 Competitive landscape, 2021
3.9 PESTEL Analysis
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
