PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1311144
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1311144
Global Thyristor Market is valued at approximately USD 5.36 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2023-2030. Thyristor is an electronic switch used in power control and regulation, allowing current flow in one direction until turned off. It is widely used in power electronics and industrial applications. The Thyristor Market is expanding because of factors such as the increasing use of electric vehicles and rising demand for consumer electronics. Moreover, increasing use of electric vehicles drives the demand for thyristors in EV charging infrastructure and electric drivetrains, rising the demand of thyristor market.
According to the international energy agency, electric vehicles account for only 3% of global car sales in 2021. However, electric vehicles may account for 10% of global passenger vehicle sales in 2025 and may rise to 28% in 2030. The market's growth is attributed to the wide-scale adoption of thyristors in consumer electronics applications and increase in consumer electronics demand as well as low-carbon power system deployment. According to Statista in 2023, the consumer electronics industry is anticipated generate USD 1,028.00 billion in revenue. The market is anticipated to expand by 2.32% yearly CAGR from year 2023 to 2028. In addition, increasing preference towards the utilization of electric and hybrid electric vehicles and rising industrial automation would create lucrative growth opportunities. However, the complicated structure of firing circuits of thyristors and the high cost of infrastructure stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Thyristor Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia-Pacific is dominate the market during the forecast period owing to the, rising in technological advancements, increasing industrial applications and supportive government initiatives in the region. North America is the fastest growing region owing to factors such as the rising adoption of smart grid solutions is further estimated to accelerate the adoption of the thyristor market. Furthermore, the increasing adoption of the offshore wind farm is augmenting the demand in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable