Silicon-Controlled Rectifier Market: Industry Outlook, Growth Prospects and Key Opportunities
Silicon-controlled rectifiers have multitude of applications including motor controls, pressure control regulators, light dimmers, liquid level regulators and electronic automotive ignition. From end use perspective, applications of SCR are found in industries such as semiconductor and consumer electronics, power transmission, clean energy, aerospace and defense, automotive, medical and oil and gas among others. Rise in applications of SCR in these industries is driving the growth of the market across different countries in the world.
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Increasing penetration of smart grids in developing countries, along with the substitution of aging power infrastructure in developed regions have conjointly created growth opportunity for SCR market. An increase in urbanization accompanied with rising governmental spending on modern power generation, distribution and transmission network in developing countries is estimated to positively impact the growth of SCR market during the forecast period.
SCR offers benefits such as relatively faster switching times as compared to mechanical switches, lower power losses in switching, and reduction in transmission losses. Due to such benefits, applications of SCR in motor controls, liquid level regulators and pressure control regulators have grown significantly in recent years.
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Apart from mentioned benefits, application of SCR offers advantages such as minimal thermal stress and extension of product lifecycle of the power electronic devices due to low switching loss. Such additional benefits boosted the penetration of application of SCR in industrial sector.
At present, a dominant share of the global electricity is consumed by power electronic devices, whose production is expected to increase during the forecast period to meet the growing demand for applications backed by power electronics components. In order to decrease electricity consumption and increase durability of power devices, applications of SCR are estimated to increase during the forecast period.
Miniaturization, cost-benefits, and reliability are some of the factors that is driving the applications of SCR in power electronics devices. Considering the above mentioned factors, it is estimated that global SCR market will grow significantly in coming years.
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Global SCR market is segmented on the basis of technology, application and geography. By technology, the market can be categorized as DC Gate Triggered SCR and AC Gate Triggered SCR. By application, the global SCR market is sub-segmented as light power control, motor control, light dimmer, liquid level regulator, pressure control system, and others. On the basis of geography, the market is sub-divided as North America, Asia-Pacific, Europe, and Rest of the World (RoW).
On the basis of geography, North America holds the leading position in terms of revenue share of the global SCR market. Besides the development and establishment of the smart power grid, the high penetration of flexible AC transmission system is driving the growth of SCR market in North America.
On the other hand, growth of SCR market in European countries is mainly driven by the replacement of the old power distribution infrastructure. Growth of applications in different industrial sectors is expected to significantly impact SCR market in Asia Pacific region. Rising investments in power grid expansion projects across different Asian countries such as India, Indonesia, China and Vietnam among others is alternatively fueling the growth of SCR market.
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