New York, June 07, 2023 (GLOBE NEWSWIRE) -- SCR Power Controllers Market are projected to grow at a CAGR of 7.1% between 2023 and 2033 to reach US$ 166.5 million in 2023. Global awareness about energy efficiency and the growing demand for electric vehicles have contributed to the market's growth.
Power controllers used in electrical heating processes play a crucial role in most industrial manufacturing processes. Various industries, including chemical, industrial furnaces, glass and crystal, metals, oil, and gas, are predicted to increase their use of SCR power controllers in the future.
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The high accuracy, flexibility, small footprint, and energy efficiency of SCR power controllers make them an excellent choice for high quality and cost-effectiveness. SCR power controllers are expected to grow substantially in the coming years. New and more efficient methods of integrating SCR power controllers into existing systems are expected to be among the key innovations in this market.
Power controllers with SCR technology not only offer multiple modes of operation and communication, but they also have a wide range of versatility and efficiency that makes them ideal for integrating into any process and achieving optimal performance.
Energy prices in both the public and industrial sectors have increased in a dramatic way over the past few years, as both sectors used to be low-cost. Through the use of the latest production technologies, capital and operating costs can be reduced, especially when it comes to energy-intensive applications.
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Key Takeaways from the Market Study
- According to the forecast, the non-resistive load type will hold 6.9% of the market by the end of the forecast period.
- From 2023 to 2033, the single phase market is expected to grow at a compound annual growth rate of 6.7%.
- Sales of SCR power controllers in the United States are expected to reach US$ 106.3 million by 2033.
- According to the forecast, the Japanese SCR power controller will be worth US$ 21.2 million by 2033.
- South Korean SCR power controller sales will grow at a CAGR of 7.5% by 2033.
- According to forecasts, the Chinese market will be worth US$ 25.1 million by 2033.
“SCR power controller sales are predicted to grow as single phase SCR power controllers and energy-efficient products gain traction in the market,” says an analyst at Persistence Market Research.
Market Segmentation
- By Load Type (Resistive, Non-resistive)
- By Type (Single Phase, Three Phase)
- By Control Method (Integral Cycle Switching, Phase Angle Control)
- By Vertical (Chemicals, Glass, Food & Beverages, Plastics, Semiconductor, Oil & Gas, Others)
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Competitive Landscape
A global expansion involves the development of new products, the acquisition or merger of companies, investments, and partnerships. With a highly competitive market, the industry will be able to offer a variety of cost-effective SCR power controllers. With technological advancements, the market will become more competitive.
Some of the leading companies include Schneider Electric, Siemens, Honeywell, ABB, Gefran, Omron, Chromalox, Avatar Instruments, Jumo, Solcon
- In May 2023, Watlow, a manufacturer of complete industrial heating and cooling systems, and Eurotherm, an industry leader in automation, data management, and process control, will participate in SPS Italia at Fiere di Parma. As part of the exhibit, the companies will demonstrate the benefits of a more sustainable, environmentally-friendly energy management system at booth E stand 073B. A pair of digital engineered solutions (DES) will also be displayed by the companies. An innovative approach to managing laboratory fume hood life cycle is enabled by the Digital Fume Hoods VAV kit, which enables IIoT digitization.
- In May 2023, Trystar, the Fairbault, Minn., company that manufactures power electronics and commercial power conversion products, announced that it would acquire Oztek Corp, a Minneapolis-based company specializing in power electronics and power conversions for commercial and industrial applications. In addition to broadening its electrical power solutions portfolio, Trystar will enhance its capabilities in wind energy and battery energy storage.
Know More about Report Inclusions
Persistence Market Research published a new market report on the SCR power controller market, covering a global industry analysis of 2018-2022 and forecasts for 2023 to 2033. This research report provides compelling insights on the basis of product type, application outlook, and sales channel, across all major regions.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
For additional information on how SCR power controller sales will increase in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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