Thyristor Market – Snapshot
According to a new market report published by Transparency Market Research titled “Thyristor Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global thyristor market is expected to reach US$ 7,225.9 Mn by 2026. The market is projected to expand at a CAGR of 7.0% during the forecast period from 2018 to 2026. According to the report, the global thyristor market will continue to be influenced by a range of factors such as their better reliability and cost savings compared to conventional solutions, replacement of aging infrastructure, and government initiatives. Growing usage of thyristors in consumer electronics is anticipated to drive Asia Pacific to the forefront of global demand, with the market in the region holding bulk of the share of the global thyristor market throughout the forecast years.
500-999MW segment expected to be more lucrative
The global thyristor market is segmented by power rating into below 500MW, 500-999MW, and above 1000MW. 500-999MW segment is expected to surpass US$ 2950 Mn by 2026. Thyristors are being extensively used across all power rating segments around the globe.
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Consumer electronics segment expected to dominate the market around the globe
On the basis of application, the thyristor market is segmented into industrial electronics, consumer electronics, communications, and automotive electronics. The consumer electronics segment is expected to hold the major share of the market throughout the forecast period because of Asia Pacific’s increasing demand for thyristors in consumer electronics.
Asia Pacific to continue to hold significant share in the overall market
Asia Pacific is expected to hold higher market share for thyristors during the forecast period. The growth is mainly due to the increased adoption of thyristors with the presence of well-established players across the region, especially in China and Japan. Asia Pacific is also expected to emerge as the region showcasing the highest CAGR. Furthermore, Asia Pacific is witnessing high adoption of thyristors due to the increasing demand for energy to support the local manufacturing units.
Major players in the thyristor market include ABB Ltd, Siemens AG, Schneider Electric SE, Eaton Corporation Plc., Honeywell International Inc., Analog Devices, Inc., STMicroelectronics N.V., Infineon Technologies AG, ON Semiconductor, and Fuji Electric Co., Ltd.
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Rising Demand for Advanced Power Infrastructure in Developed Economies fuels Thyristor Market
Increasing reliance of electricity brings challenges for the traditional and aging power infrastructures in many developed countries. Low power operations and multiple function characteristics of thyristors draw attention to global thyristor market. Thyristor is a semiconductor device that houses four layers of alternating P- and N- type materials. It is a unidirectional device that conducts current only in single direction. They operate as a switch to control electric power and current. Products in global thyristor market are applied in various devices including high power circuits such as electricity transmission lines and simple circuits such as home or commercial burglar alarms. They are compact in size, require lesser maintenance, and are utilized in numerous industry vertical including but not limited to, power and energy, networking, industrial electronics, medical and healthcare, telecommunications, aerospace and defense, automotive, and consumer electronics.
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Powerful yet compact design of thyristors and increasing requirement of advanced electrical power infrastructure in various developed nations are key motivators for global thyristor market. Increasing population burdens age-old power infrastructure as the usage of electrical energy also increases with the population. Thyristors require lesser power and emit lesser amount of heat as compared to mechanical switches used in the majority of conventional power infrastructures. Thyristors can also be used as switch, diodes, and rectifier. These flexible qualities of thyristors is expected to spur growth in global thyristor market in coming years. However, easy control and high current handling capabilities of insulated gate bipolar transistor that promote its usage can impede the global thyristor market in near future. Players in global thyristor market are engaged in expanding their product offerings to effectively compete against their rivals. Other strategy implemented by major vendor in the market is collaborating and forming long-term strategic partnerships with their existing clients. Mergers and acquisitions are also observed as key strategies for business and clientele expansion by players in global thyristor market.
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