Thyristors Market Forecasts from 2023 to 2028

The global thyristors market is estimated to grow at a CAGR of 2.06% to reach US$1, 062.515 million in 2028 from US$921.319 million in 2021.

In the projected period, the use of thyristors is expected to increase as aging infrastructure is to be replaced with new technologies, especially in developed countries. The integration of thyristors can be seen in power electronics such as inverters, power supplies, and controllers to fulfill the demand for solid-state switching devices. The increasing use of thyristors in different applications among different end-user industries is expected to contribute to market growth.

Increasing Energy Demand

These thyristors are used for short switching times of metal-oxide-semiconductor field effect transistors and for low switching losses these are used on a large scale to meet the current need for electricity that is growing globally. For instance, as per the International Energy Agency, the electricity demand is expected to grow at a faster pace of 3% per year throughout 2023-2025 compared to the growth in 2022. Additionally, these thyristors are also used in films, television, and theatre for a very long time. Also, they have found a place in photography as well as it is an important component of flashes.

Increasing Adoption of Thyristors in the Power Industry

The increasing use of thyristors in control devices in the power industry is expected to contribute to market growth. The growing penetration of HDVAC in developing countries is one of the main reasons for boosting the market growth of thyristors. India has started focusing on a high-voltage current (HVDC) transmission system as it allows electricity to be transmitted over a large distance with minimal loss. Currently, only 4% of the lines in the country use HDVC transmission but in the projected period different countries are expected to adopt this technology for power transmission. These devices are also used in various single phrases voltage AC/DC converters. The growth of thyristors can be attributed to their varied use in the power industry.

Increasing Industrial Automation

Industrial automation stands as a significant growth driver for the thyristors market. As reported by the US Department of Commerce, in 2022, the manufacturing sector contributed a substantial $2.3 trillion in value added to the economy. Within this sector, the USA ranks 1st in 7 out of 16 industries, underscoring its robust industrial capabilities. In the context of automation technologies, thyristors play a pivotal role in motor control, lighting systems, and heating elements, fueling the rising demand for these power semiconductor devices.

Substantial Increase in BEV Sales

The substantial increase in BEV sales, with figures rising from 240, 000 units in 2019 to 800, 000 units in 2022, signifies a significant demand for power electronics components like thyristors. Thyristors are crucial in controlling and managing electrical power in BEVs, playing a pivotal role in motor control and battery charging applications. As the adoption of electric vehicles continues to accelerate, the demand for thyristors is expected to escalate further, thereby driving the expansion of the thyristors market.

North America is Expected to Grow Considerably

North America is expected to hold a significant share of the global thyristors market during the forecast period. Growth in the USA is driven by rising investments in the renewable energy sector, electric vehicle infrastructure, and advancements in power transmission and distribution systems. With a growing emphasis on sustainable energy solutions, solar and wind power installations have surged, creating a significant demand for power electronics devices like thyristors. Key players such as Infineon Technologies AG, Eaton Corporation, ON Semiconductor Corporation, and Littelfuse, Inc., stand out as industry leaders, offering a comprehensive portfolio of power semiconductor solutions, including thyristors, for diverse applications.

Key Market Developments

• STMicroelectronics, in June 2022 launched AEC-Q101 Qualified SCR thyristors that can be used in battery chargers to regulate current flow and to manage capacitor discharges. The above thyristors can be used to resolve power dissipation issues and can be used in electric vehicles' board charges that range from 3.7 kW to 22 kW.
• The SMCP0080SC thyristor, introduced by Eaton in 2021, is a versatile semiconductor device catering to various applications, including consumer electronics, telecommunications, computing, servers, and networking equipment. Featuring a low-profile SMB package, lower capacitance, and low on-state voltage, this thyristor exhibits exceptional capabilities in absorbing transient surges with quick response time at the nanosecond level.

Segmentation:

By Type

• Silicon Controller Thyristor
• Gate Turn Off Thyristor
• Emitter Turn Off Thyristor
• Reverse Conducting Thyristor
• Others

By Power Rating

• Below 500 MW
• 500-900 MW
• Above 999 MW

By End-User Industry

• Consumer Electronics
• Telecommunications
• Automotive
• Industrial
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others