Thyristor Market Future Looks Bright for Big Revenues as Market Size Expands | Fuji Electric Co., Ltd., Analog Devices

The Global Thyristor Market was valued at USD 5.2 billion in the year 2021 with the APAC region leading the regional market share. With an increase in population and rapid technological advances in the electronics industry (particularly in consumer electronics and industrial electronics), the rate of power consumption has increased. This consequently necessitates an increase in the construction of power grids. Additionally, the emergence of the Internet of Things (IoT) and artificial intelligence (AI) is providing ample opportunities for market development. In addition, rising government initiatives for HDVC installations are likely to stimulate market demand in the future.

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Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War. The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations' armed forces. Due to Russia's invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.

The growing need for power-efficient products is one of the major factors driving the demand for high power electronics products across the industrial sector. Moreover, the use of robotics and computers at smart factories requires voltage above 1000 MW, which is driving the thyristor market. Countries in APAC such as China is focusing on the adoption of HVDC systems for its high population that needs a substantial power supply which is expected to boost the thyristor market.

Increased customer demand for smart devices and innovation in smart manufacturing is driving the market for industrial electronics. As a branch of electronics dealing with power electronic switches, sensors, actuators, meters, intelligent electronic devices (IEDs), automation equipment, semiconductors, nanotechnology, etc., the current emphasis is placed on power conditioning using power semiconductor devices in modernizing industry technology. Such initiatives is expected to boost the growth of thyristor.

Moreover, market players are focusing on continuous development in the thyristor market. For instance, ABB Ltd was the first company to introduce 6 thyristor devices for HVDC applications, and the company has the most comprehensive portfolio of high power thyristors in the global thyristor industry. New thyristor devices are still being developed with the goal of lowering total losses and maximising the device's power rating.

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Scope of the Report:

The companies analysed in the report include ABB Ltd., ON Semiconductor Corporation, Infineon Technologies AG, STMicroelectronics, Mitsubishi Electric Corporation, Siemens AG, Fuji Electric Co., Ltd., Analog Devices, Inc., Vishay Intertechnology, Inc., Semikron.

The report presents the analysis of Thyristor for the historical period of 2017-2021 and the forecast period of 2022-2027.

By Power Rating (Below 500 MW, 500-999MW, Above 1000 MW).

By Application (Industrial Electronics, Consumer Electronics, Communication, Automotive Electronics).
by countries (United States, Canada, United Kingdom, France, Germany, China, Japan, India, Brazil, GCC).

The key insights of the report have been presented through the frameworks of Porters Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Power Rating, By Application.

Key Target Audience
Semiconductor Industry Vendors
Power Industry
Consulting and Advisory Firms
Government and Policy Makers
Regulatory Authorities

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This release was published on openPR.