Market Trends of Thyristor Industry
This section covers the major market trends shaping the Thyristor Market according to our research experts:
Increasing Demand for Thyristor in Power Industry
- Thyristor modules play a vital role in power applications, owing to their low statistical failure rate. Thyristor modules are primarily used in the power industry to convert electrical energy from one form to another for various electrical applications.
- A thyristor module provides wide-range voltage control efficiently and cost-effectively by utilizing an optimal combination of on-load tap-changers and saturable reactors. Thyristor rectifier systems provide smooth step-less control via thyristor gate control from zero to the rated voltage.
- The growing use of thyristors in automobile ignition systems has also contributed to the market's expansion. In 2021, the global automotive industry will grow by double digits. Following an 18% drop in 2020, new car sales will increase by 15% in 2021. Commercial vehicle sales will rise by 16% in 2021, following a 16% drop in 2020.
- Thyristors are used in power supplies for digital circuits as a kind of "circuit breaker" or "crowbar" to prevent a power supply failure from damaging downstream components. Moreover, manufacturers of thyristor modules are continually engaged in developing such components.
- Due to these factors, demand for thyristor modules for long-distance power transmission is growing, with an increase in investment by various governments across the globe, which is expected to drive the global thyristor module market during the forecast period. Moreover, technologically advanced thyristor modules for various electrical uses. Thus, increasing focus on developing thyristor modules in the power industry is expected to bolster the market's growth.
- Additionally, thyristors have been used as lighting dimmers in television, film, and theatre for decades, replacing inferior technologies such as autotransformers and rheostats. They have also been used in photography as an important component of flashes (strobes).
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Asia-Pacific is Fastest Growing Region for the Thyristor Market
- The global thyristor module market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Because of the large number of thyristor module manufacturers in Asia-Pacific, it is the fastest-growing market for thyristors. Furthermore, many well-established players are focusing on technological advancements in semiconductor products, which will further boost the growth of the region's thyristors market during the forecast period.
- Asia-Pacific is anticipated to dominate the global thyristor module market throughout the forecast period, as many manufacturers of thyristor modules operate in the region. Additionally, due to the growing opportunity, many well-established players from the Asia Pacific region are focusing on technological advancement in semiconductor products, which is expected to boost the thyristor module market in the region during the forecast period.
- The increasing adoption of HDVAC in developing countries is also boosting the thyristors market. For example, according to Powerline Magazine, India is focusing on direct high-voltage current (HVDC) transmission systems because they allow electricity to be transmitted over long distances with minimal loss. Currently, HVDC transmission lines account for 4% of total transmission line length. Additionally, in 2020, India's predominant voltage type of electricity transmission line is 400 kV, accounting for 43% of the total line length. With 42%, it is followed by 220 kV transmission lines.
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