Thyristors Devices Market Size, Share, Growth, and Industry Growth by Type (SCR, GTO, IGCTs, GCTs, and Others), By Application (Automotive & Transportation, Industrial & Power, Consumer Products, Computing & Communications, and Others), Regional Insights, and Forecast To 2031

Thyristors Devices Market REPORT OVERVIEW

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The global thyristors devices market size is predicted to value at USD 831.1 million in 2022 to USD 1475.65 million by 2031, exhibiting a CAGR of 5.9% from 2022 to 2031.

Having four layers of alternately used P- and N-type materials, a thyristor is a high-power solid-state semiconductor device. It solely performs the function of a bistable switch, opening upon receiving a current trigger at the gate and remaining open until the device's voltage is reverse biased or the voltage is gone. Two separate designs each have their own conducting state induction methods. Thyristors can control a significant amount of power and voltage with a small piece of equipment.

Thyristors devices are frequently used to manage alternating currents, where the change in polarity of the current causes the device to automatically shut off, and are typically utilized where high currents and voltages are involved. Thyristors devices have a wide range of uses in electric power management, from high-voltage direct-current power transmission to light dimmers and electric motor speed control. They can be used in circuits for power switching, relay replacement, inverters, oscillators, level detectors, chopper circuits, light dimming, low-cost timer circuits, logic circuits, speed control, and phase control.

COVID-19 Impact: Lockdowns and Other Restrictions Hampered Market Growth

COVID-19 had a life changing impact globally. The global electrical insulation paper market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for electrical insulation paper experienced a drop in demand.

The disruptions in supply chain caused a hamper in the production units. This was led due to lack of raw materials and inaccessibility to manufacturing hubs. Also, the work force in this industry saw a major decline. Due to the social distancing norms and laws put forth by the governments, people were confined out of the factories. This caused a decline in the global thyristors devices market share.

There was a surge in electricity usage across the globe. The need for it increased due to ventilators usage, lights for multiple operations and so on. To keep up with the electricity needs, power switching, inverters and oscillators saw a rise in demand across multiple areas to ensure no power cut in a hospital or neighborhood. This led to an increase in usage high current and high voltage circuits as they would last long and were ideal for usage. With the surge of electricity requirements, the global thyristors devices market is set for robust growth.

LATEST TRENDS

"Spontaneous Testing to Broaden Market Growth"

Research Gate have identified thyristors devices having high voltage direct current [HVDC] applications. The devices have been tested to improve transmission efficiency at ever increasing line voltages. The experiment focused on ultra-high voltage series connected asymmetric thyristors and diodes as a ‘cost-effective’ solution. These proved to be a more efficient device that phase controlled thyristors. In order to meet the higher performance objectives, it is predicted that this device will exhibit "best-in-class" electrical and reliability performance, with low temperature bonding serving as the primary "enabling" technology.

Article published by EEPower suggested methods to manufacture fast power thyristors. This was being achieved with the help of low temperature junction of silicon chips with molybdenum discs. With this technique, a stable silicon chip-molybdenum disc connection is produced, one that has a high cycling capacity and a low heat resistance. Thermal contact must be secured by external installation force from the cathode side. The fact that silicon's surface layers do not disintegrate is another significant benefit of free-floating silicon technology. These factors are expected to drive thyristors devices market development.

Thyristors Devices Market SEGMENTATION

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• By Type

Based on type, the market is divided into SCR, GTO, IGCTs, GCTs, and Others. SCR holds a major share of the global market.

• By Application

Based on application, the market is bifurcated Automotive & Transportation, Industrial & Power, Consumer Products, Computing & Communications, and Others. Automotive & Transportation as application holds a major share of the global market.

DRIVING FACTORS

"Opportunistic Avenues to Propel Market Sales"

With the growing economy, it opens several opportunistic avenues for the global thyristors devices market share. Increased consumer electronics demand is a definitive market for a boost in the market. The global consumer electronics market size was USD 729.11 billion in 2019.  According IEA, sales of electric vehicles doubled in 2021 from 2020 with a record 6.6 million. Starting with just 120,000 vehicles sold in 2012. Smart grid developments, low carbon power system deployment, replacement of MOSFET with IGBT in EVs/HEVs are stipulated to drive the global thyristors devices market share.

"Increasing Urbanization to Increase Need for Electricity  "

Urbanization has a major development goal globally across continents. According to the United Nations, 55% of the world’s population resides in urban areas. But projections indicate there will be a gradual shift of the population from rural to urban areas. The population that resides in urban areas is expected to increase to 68% by 2050. As the population shifts, there would be a need for infrastructure. This would directly result in need for electrical appliances and electrical circuitry within the infrastructure. This is expected to boost the global thyristors devices market share.

RESTRAINING FACTORS

"High Manufacturing Costs to Lessen Market Availability "

There are several factors that could affect the global thyristors devices market growth. The major hindrance would be caused due to the massive manufacturing costs. Since implementation of the infrastructure is expensive; it poses as a definite hinder to the market share. Furthermore, the lack of awareness amongst industry specialists and consumers. The benefits of thyristors modules are not spread across the people. These shortcomings could impact the adoption of amorphous metal ribbons in the future.

Thyristors Devices Market REGIONAL INSIGHTS

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"Presence of Prominent Manufacturer to Foster Growth in Asia Pacific"

Asia Pacific countries are the largest market shareholder for thyristors devices. This is built upon factors such as huge investments of the governments in the developing countries. These investments are planned for large-scale infrastructure projects. Adding on to this, is the rising purchasing power of people, rapid urbanization and growing population in this region. Due to this, the government aims to provide an affordable standard of living for its citizens. Europe is the second major shareholder of the global thyristors devices market.

KEY INDUSTRY PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.

LIST OF TOP Thyristors Devices COMPANIES

• STMicroelectronics [Switzerland]
• WeEn Semiconductors [China]
• Infineon [Germany]
• ON Semiconductor [U.S.]
• Mitsubishi Electric [Japan]
• Vishay Intertechnology [U.S.]
• JieJie Microelectronics [China]
• Renesas Electronics [Japan]
• Littelfuse [U.S.]
• Fuji Electric [Japan]
• Toshiba [Japan]
• Semikron [Germany]
• Sanken [Japan]
• ABB [Switzerland]
• SanRex [Japan]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.