Thyristor Market Size (2024 - 2029)

The thyristor market is experiencing growth driven by the replacement of outdated power infrastructure and the increasing deployment of smart grids, particularly in developed economies. This growth is further supported by the rising electricity demand in developing countries, where thyristors are favored for their low switching losses and quick switching times. However, challenges such as high infrastructure costs, reduced deployment of turbines and PV, and disruptions caused by the COVID-19 pandemic, which affected global supply chains, are impacting the market's expansion.

Market Size of Thyristor Industry

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CAGR
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 0.00 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration High

Major Players

Thyristor Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thyristor Market Analysis

The thyristor market is expected to witness a CAGR of 4.7% during the forecast period (2022 - 2027). The thyristor market is witnessing significant growth attributed to replacing aging power infrastructure, particularly in developed economies. In addition, the increasing deployment of smart grids is further expected to foster market growth. Thyristors are integrated into power electronics such as controllers, inverters, and power supplies to fulfill the demand for solid-state switching devices. Some of the significant factors influencing the market's growth are:

  • Electricity demand is constantly increasing in developing economies due to the rising population. Thyristors are used for low switching losses and short switching times of metal-oxide-semiconductor field-effect transistor (MOSFET) to meet current electricity demands. Thus, they are highly in demand across developing economies.
  • Moreover, In India, the monthly electricity demand in 2022 is expected to peak at around 132 billion kWh, 15% higher than the average monthly demand, similar to 2021 and 2019, when peak monthly demand was 15% and 19% higher, respectively than average monthly demand. Pandemic-related lockdowns dampened demand in 2020, but peak monthly demand was 6% higher than average monthly demand.
  • However, the high cost of infrastructure deployment is impeding the market growth. Furthermore, the declining deployment of turbines and PV and the development of high-speed trains pose a significant challenge to the market.
  • The coronavirus pandemic has disrupted the global production and supply chain system (COVID-19), negatively impacting the thyristor market. Most industrial managers and policymakers look for appropriate strategies and policies to restructure production patterns and meet consumer demand. Mainly the raw materials are imported from China and other Asian developing countries from the global supply chain standpoint. The COVID-19 pandemic has disrupted most transportation and distribution links between suppliers, manufacturing facilities, and customers.

Thyristor Industry Segmentation

Thyristors are semiconductor devices with four layers of alternating P-type and N-type materials. It comes in three categories: anode (positive terminal), cathode (negative terminal), and gate (control terminal). A thyristor, a semiconductor device with four layers of alternating P- and N-type materials, acts exclusively as a bistable switch, conducting when the gate receives a current trigger and continuing to conduct until the voltage across the device is reversed biased or until the voltage is removed.

By Power Rating
500 MW
500 MW-1000 MW
1000 MW
By Application Industry
Consumer Electronics
Telecommunication & Networking
Industrial
Automotive
Aerospace & Defense
Others
By Geography
North America
Europe
Asia-Pacific
Latin America
Middle-East and Africa
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Thyristor Market Size Summary

The thyristor market is experiencing notable growth, driven by the need to replace aging power infrastructure in developed economies and the increasing deployment of smart grids. Thyristors, integral to power electronics such as controllers, inverters, and power supplies, are in high demand due to their low switching losses and rapid switching times, particularly in developing economies where electricity demand is rising. Despite challenges such as high infrastructure costs and disruptions caused by the COVID-19 pandemic, which affected global supply chains, the market is poised for expansion. The growing use of thyristors in various applications, including automobile ignition systems and power supplies for digital circuits, further supports market growth. Additionally, advancements in thyristor module technology and increased investment in long-distance power transmission are expected to drive the market forward.

Regionally, the Asia-Pacific market is anticipated to dominate the global thyristor module market, supported by a large number of manufacturers and a focus on technological advancements in semiconductor products. The adoption of high-voltage direct current (HVDC) transmission systems in developing countries, such as India, is also contributing to market growth. The thyristor market is highly fragmented, with numerous key players focusing on technological innovations and strategic partnerships to meet the rising demand. Recent product developments, such as those by Hitachi Energy and Proton-Electrotex, highlight the industry's commitment to enhancing performance and reliability. As the market continues to evolve, these factors are expected to bolster the thyristor market's expansion during the forecast period.

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Thyristor Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Intensity of Competitive Rivalry

      5. 1.3.5 Threat of Substitutes

    4. 1.4 COVID-19 Impact on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Power Rating

      1. 2.1.1 500 MW

      2. 2.1.2 500 MW-1000 MW

      3. 2.1.3 1000 MW

    2. 2.2 By Application Industry

      1. 2.2.1 Consumer Electronics

      2. 2.2.2 Telecommunication & Networking

      3. 2.2.3 Industrial

      4. 2.2.4 Automotive

      5. 2.2.5 Aerospace & Defense

      6. 2.2.6 Others

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle-East and Africa

Thyristor Market Size FAQs

The Thyristor Market is projected to register a CAGR of 0% during the forecast period (2024-2029)

STMicroelectronics, Vishay Intertechnology, Schneider Electric, TSMC and Sensata Technologies are the major companies operating in the Thyristor Market.

Thyristor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)