The global thyristor market was valued at US$ 4,035.0 Mn in 2017 and is projected to register compound annual growth rate (CAGR) of over 7.0% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Thyristor Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” The report suggests that the rising population and urbanization is likely to spur the demand for thyristors in the coming years (2018 to 2026). Other factors such as replacement of aging infrastructure and government initiatives are also expected to help the market expand rapidly.
As key players introduce new thyristors and features in developed markets such as North America, Europe, and Asia Pacific, these regions are likely to account for dominating share of the global thyristor market. Growing demand for thyristors from the consumer electronics sector in emerging markets such as China and India is likely to boost growth of the Asia Pacific thyristor market at a growth rate of around 8.4% from 2018 to 2026.
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.