Thyristors Market 2023 Best Workable Strategy That Will Help to Boost your Revenue Till 2032
The global Thyristors market size was USD 9.5 Billion in 2022 and is expected to reach USD 12.8 Billion in 2032, and register a revenue CAGR of 5.6% during the forecast period. Demand for power electronics in a variety of sectors, including automotive, energy, consumer electronics, and Industrial Automation, is a major factor driving the IGBT and thyristor market revenue growth.
Demand for electric vehicles is one of the major factors driving the IGBT and thyristor market revenue growth. The adoption of electric vehicles as a way to lower carbon emissions and enhance air quality is predicted to cause the global Electric Vehicle (EV) market to expand at a rapid rate. IGBT and thyristor utilization is a crucial part of EVs because it increases the overall effectiveness of the power electronics systems of the car.
Moreover, demand for IGBT and thyristor in the energy sector is being driven by need for renewable energy sources such as wind and solar power. Power inverters for renewable energy sources benefit from effective power conversion and energy management provided by IGBT and thyristor use. In addition, it is expected that rising consumer electronics demand for devices such as laptops, tablets, and smartphones will drive revenue growth of the IGBT and thyristor market. The Battery life and efficiency of these devices is increased by inclusion of IGBT and thyristor in power management circuits.
The need for IGBT and thyristor is also being driven by increasing need for energy-efficient solutions across a variety of industries, including industrial automation and data centers. These parts aid in enhancing these systems' energy efficiency, which helps businesses save money. Also, the IGBT and thyristor market revenue growth is a result of rising need for electric trains and high-speed railroads. IGBT and thyristors used in train control systems contribute to the systems' increased energy efficiency, which lowers energy costs and consumption.
The IGBT and thyristor market is also expected to gain from growing use of Smart Grid technology. Utility costs can be reduced as a consequence of increased energy dependability and efficiency due to the use of IGBT and thyristor in smart grid systems. Furthermore, growing requirement for high-power electronics in numerous industries such as aerospace, defense, and medical is also driving the need for IGBT and thyristor. Many applications benefit from the usage of IGBT and thyristor by increasing the power density and efficiency of systems, which increases their dependability and lowers their cost.
Competitive Landscape:
ABB Ltd.
Mitsubishi Electric Corporation
Fuji Electric Co., Ltd.
Infineon Technologies AG
Toshiba Corporation
Renesas Electronics Corporation
IXYS Corporation
STMicroelectronics N.V.
Semikron International GmbH
ROHM Semiconductor
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