Global Thyristor Market to Cross USD 2.172 Billion By 2032
Apr 16, 2024
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Global Thyristor Market Overview:
The study documents by MRFR state that the Thyristor Market Research Report Information by Product, End Users, Application, and Region - Forecast Till 2032, the Thyristor market is likely to grow considerably throughout the valuation period from 2022 to 2032 at a distinguished CAGR of nearly 4.20%. The research reports provide predictions regarding the global market's rising revenue data, which is anticipated to acquire a market worth of USD 2.172 Billion by the end of 2032. The reports also tell that the market was worth nearly USD 1.563 Billion in 2023. The Thyristor market has recently advanced. The main factor causing a rise in market performance is the increased demand for energy-efficient and power-saving solutions across several industry sectors. Furthermore, the expansion of EV charging infrastructure and adoption of electric vehicles (EVs) are also anticipated to have a positive impact on the development of the global market over the coming years.
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Competitive Analysis
- Semikron
- Eaton Corporation
- Scheider Electric SE
- Siemens AG
- Hitachi Ltd.
- Mitsubishi Electric Corporation
- STMicroelectronics NV
- Power Semiconductors
- Infineon Technologies AG
- Analog Devices, Inc.
Market Drivers
The Thyristor market has recently advanced. The main factor causing a rise in market performance is the increased demand for energy-efficient and power-saving solutions across several industry sectors. Furthermore, the expansion of EV charging infrastructure and adoption of electric vehicles (EVs) are also anticipated to have a positive impact on the development of the global market over the coming years.
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Market Restraints
However, several parameters may impede Thyristor's performance in the global market. One of the main parameters limiting the development of the market is the elevated prices associated with raw materials.
Segment Analysis
The global Thyristor market has been segregated into various segments based on Power Rating, end user, and region.
Based on the Power Rating, the global Thyristor market is divided into 1000 MV, 500 MV-1000 MV, and 500 MV.
Based on End-Use, the global Thyristor market is divided into Aerospace and Defense, Automotive, Telecommunication and networking, Consumer Electronics, Industrial, and Others.
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Regional Analysis
The data reports by MRFR state that The North American Region ensured the primary spot across the Thyristor market in 2021. The region has substantial development participants, such as the U.S., Canada, and Mexico. The primary parameters beginning a rise in the performance of the regional Thyristor market are the region's strong industrial base, consistent demand for thyristors across diverse applications, and extensive adoption of advanced technologies.
The European Region will grow substantially across the Thyristor market from 2023 to 2032. The region has substantial development participants, such as Germany, France, and the UK. The primary constraints causing a surge in the performance of the regional Thyristor market are the integration of thyristors in industrial automation and power electronics, increased adoption of renewable energy sources, and growing emphasis on energy efficiency.
The Asia-Pacific region is estimated to grow at the highest pace, with a CAGR across the Thyristor market over the assessment period. The region has substantial development participants, such as China, India, and Indonesia. The primary parameters causing a surge in the performance of the regional Thyristor market are the increasing demand for energy-efficient solutions, the widespread adoption of electronics and power systems, and rapid industrialization.
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