Projected Growth: Thyristor Market Anticipated to Hit USD 72 Billion Valuation by 2036
Anticipated Expansion of the Thyristor Industry with a CAGR of 7% from 2024 to 2036
Forecasts reveal that the global thyristor industry is projected to witness a growth rate of nearly 7% annually from 2024 to 2036. A comprehensive study by Research Nester indicates that the sector's revenue is set to climb to USD 72 billion by the close of 2036, a substantial increase from the recorded ~USD 10 billion in 2023. This expansion is largely due to thyristors being increasingly utilized in control management applications. Key factors driving this growth include their lightweight design, cost-efficiency, compactness, low maintenance requirements, rapid responsiveness, and the capacity to minimize time delays.
Proton-Electrotex's latest launch of the B0 series featuring standalone diode and thyristor modules is engineered to improve electrical and thermal properties, achieving enhanced IFAV/ITAV values of up to 700 A.
Moreover, the escalating need for electricity in burgeoning economies, coupled with their growing populations, is expected to propel market growth. Thyristors contribute to reducing switching losses and provide swift semiconductor field-effect transitions in metal oxide transistors, catering to surging electricity demands. US energy consumption in 2022 reached 100 quads, overtaking its production, which stood at 103 quads. This consumption rate marked an all-time peak, surging to 14 times the amount used since 1950.
The Rise in Electric Vehicle Adoption and Emission Regulation Tightening Expand Thyristor Applications
Market growth is invigorated by the advancement of fuel-efficient vehicles, including hybrids, hydrogen fuel cell vehicles, and electric vehicles. Increased production of electric vehicles to match market demand places pressure on automakers and stimulates the thyristor market. The further demand for battery charging stations for these vehicles is anticipated to elevate market trends. In 2023, hybrid car sales in India hit over 24,000 units, surpassing electric vehicle sales which amounted to 21,400 units.
Thyristor Market: Geographical Insights
Asia Pacific Takes Lead with Robust Market Growth Backed by Prominent Manufacturers
Predicted to command a 33% revenue share in the coming period, the Asia Pacific is home to a growing number of thyristor manufacturers and key industry players, especially within the semiconductor field, spearheading market advancement. The adoption of HDVAC systems in developing nations of the region is also contributing to market growth, with the number of Indian cities boasting populations of over one million poised to increase from 40 to 70, thereby heightening the demand for HVAC systems.
North America's Focus on Energy Efficient Electronics Spurs Thyristor Demand
Thyristors in North America are forecasted to secure a considerable market portion during the evaluation timeframe, driven by the demand for energy-saving electronics across multiple sectors. The upward trajectory of end-user verticals like power transmission, motor vehicles, and consumer electronics furthers the market size. Investments in smart grid technology and a shift toward renewable energy sources are likely to augment market trends. By 2023, nearly 98% of the population is expected to own mobile phones, the most sought-after consumer electronics device due to digitalization.
Thyristor, Categorized by Application
Industrial
Consumer Electronics
Automotive
Home Appliances
The automotive segment is positioned to capture a substantial 40% market share in the upcoming years, given thyristors' reliability in power applications. Their widespread use in the energy sector to transform power for various needs is set to enhance market segment size. STMicroelectronics' automotive thyristors offer a 1200V blocking capacity at 150ºC, ideally suited for high voltage and temperature needs in OBC and BMS applications.
Thyristor, Segmented by Voltage
Low Voltage
Medium Voltage
High Voltage
Dominating the market during the projection period is the low voltage segment, with a 40% share, driven by the rising automation in various industries. Thyristors' deployment in electrical motors is expected to bolster market segment size with over half of global businesses predicted to automate by the end of 2024 for superior production and efficiency rates. Thyristors in the low-voltage range are critical for controlling the speed and torque of material handling equipment, pumps, fans, and conveyor belts.
Prominent players in the global thyristor market, as profiled by Research Nester, include STMicroelectronics, Vishay Intertechnology, Schneider Electric, TSMC, Sensata Technologies, Porton-Electrotex, ABB Ltd, Analog Devices, Inc., Eaton Corporation Plc, Fuji Electric Co., Ltd, among others.
Recent Market Developments
STMicroelectronics has rolled out AECQ101 Qualified SCR Thyristors designed for battery chargers to manage inrush currents and capacitor discharges efficiently. Made with automotive-grade specifications, these Thyristors are approved for electric vehicle applications ranging from 3.7 to 22 kilowatts, capable of withstanding 600A surge currents, providing 200A of reliable turn-on with minimized power losses, and are suitable for battery management systems.
ProtonElectrotex has unveiled new thyristor and thyristor-diode modules, MT3-700-18-A2, boasting high power density due to advancements in semiconductor design with minimal modifications. The module's new topology increases the active cathode area by 10%, reduces the thickness of the diffusion element, and enhances efficiency.
