Market Size of Thyristor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 0.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thyristor Market Analysis
The thyristor market is expected to witness a CAGR of 4.7% during the forecast period (2022 - 2027). The thyristor market is witnessing significant growth attributed to replacing aging power infrastructure, particularly in developed economies. In addition, the increasing deployment of smart grids is further expected to foster market growth. Thyristors are integrated into power electronics such as controllers, inverters, and power supplies to fulfill the demand for solid-state switching devices. Some of the significant factors influencing the market's growth are:
- Electricity demand is constantly increasing in developing economies due to the rising population. Thyristors are used for low switching losses and short switching times of metal-oxide-semiconductor field-effect transistor (MOSFET) to meet current electricity demands. Thus, they are highly in demand across developing economies.
- Moreover, In India, the monthly electricity demand in 2022 is expected to peak at around 132 billion kWh, 15% higher than the average monthly demand, similar to 2021 and 2019, when peak monthly demand was 15% and 19% higher, respectively than average monthly demand. Pandemic-related lockdowns dampened demand in 2020, but peak monthly demand was 6% higher than average monthly demand.
- However, the high cost of infrastructure deployment is impeding the market growth. Furthermore, the declining deployment of turbines and PV and the development of high-speed trains pose a significant challenge to the market.
- The coronavirus pandemic has disrupted the global production and supply chain system (COVID-19), negatively impacting the thyristor market. Most industrial managers and policymakers look for appropriate strategies and policies to restructure production patterns and meet consumer demand. Mainly the raw materials are imported from China and other Asian developing countries from the global supply chain standpoint. The COVID-19 pandemic has disrupted most transportation and distribution links between suppliers, manufacturing facilities, and customers.
