In a recent published report, Kenneth Research has updated the market report for SCR Power Controller Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2024, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2024. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2024. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2024. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2024 till March 2024 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for SCR Power Controller Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on SCR Power Controller Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2024 2030. The SCR Power Controller Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
The Global SCR Power Controller Market was valued at USD 128.35 million in 2016 and is projected to reach USD 191.73 million by 2025, growing at a CAGR of 4.56% from 2017 to 2025.
SCR Power Controller (Silicone Controlled Rectifiers Power Controller) is a switching device consisting of thyristors which controls power or voltage supplied to a load and can provide fast, infinitely variable proportional control of electric power. The advantages of using an SCR are – more precise control of the heating process, extended heater life, improved product quality at faster production speeds and reduced maintenance costs.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Rising need of suppliers of SCR power controller across various industries
1.2 Increasing demand for digitization of SCR power controllers
2. Market Restraints
2.1 Coping up with rapidly changing technologies in the market
2.2 Lack of expertise for operations and maintenance of SCR power controllers
Market Segmentation:
The Global SCR Power Controller Market is segmented on the load type, type, control method, vertical, and region.
1. Load Type:
1.1 Resistive
1.2 Non-resistive
2. By Type:
2.1 Single Phase
2.2 Three Phase
3. By Control Method:
3.1 Integral Cycle Switching
3.2 Phase Angle Control
4. By Vertical:
4.1 Chemicals
4.2 Glass
4.3 Food & Beverages
4.4 Plastics
4.5 Semiconductor
4.6 Oil & Gas
4.7 Metals
4.8 Textile
4.9 Others
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Schneider Electric
2. Siemens
3. Honeywell
4. ABB
5. Gefran
6. Omron
7. Chromalox
8. Avatar Instruments
9. Jumo
10. Solcon
11. Advanced Energy Industries
12. RKC Instrument
13. Control Concepts
14. REO
15. CD Automation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global SCR Power Controller Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team.
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
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