Thyristor Market is Driven by the Supportive Government Initiatives for HVDC system

According to a new market research report published by Brisk Insights “Global Thyristor Market (Power Rating (Below 500MW, 500-900MW, Above 1000MW); Application (Industrial Electronics, Consumer Electronics, Communications, Automotive Electronics)) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the thyristor market is set to grow with a CAGR of 7.3% during the forecast period.

Market Insights

The market is driven by the supportive government initiatives to promote the use of HVDC grid. As the urbanization and industrialization is increasing, the demand for energy is also rising. The majority of the countries are relying on the electric grids for the transmission of high voltage current from the source of the generation to the cities.

However, due to the growing concern towards the environment, the governments across the globe started to focus on the more sustainable method for power and transmission. The governments are switching from the traditional electrical grids to the high voltage direct current (HVDC) system due to its higher efficiency, stability and cost effective nature.

The HVDC system cannot replace the traditional electric grid system; rather it augments the capability of the system for long distance transmission. Furthermore, the HVDC system enables the government authorities to take full advance of the power generated from the renewable sources of energy. Additionally, it enables the deployment of the smart grid solution, which is acting as a major driver for the thyristor market.

The thyristor market is segmented based on the applications into industrial electronics, consumer electronics, communications, and automotive electronics. Consumer electronics accounted for more than 65% of the market share in 2018. The market is driven by the wide scale adoption of the thyristor due to its higher reliability and cost effective nature. Industrial electronics is estimated to grow significantly during the forecast period due to the growing demand for thyristor among the smart grid applications.

Browse the full report at https://www.briskinsights.com/report/thyristor-market

The Global Thyristor Market is Segmented into:

*Complete segmentation list is on report page

Asia Pacific's thyristor market is anticipated to grow considerably over the forecast period. The market is driven by the wide scale adoption of the thyristor across the consumer electronics applications. The increasing deployment of the smart grid solution is also acting as a major driver for the growth of the market. Additionally, the growing focus of the governments for the deployment of HVDC system across the region is also accelerating the adoption across the region.          

The prominent vendors of the thyristor market are Danfoss A/S, ABB Ltd, SEMIKRON International GmbH, Fairchild Semiconductor International Inc, Hitachi Ltd, Fuji Electric Co. Ltd, Infineon Technologies AG, Renesas Electronics Corp., Mitsubishi Electric Corp., and Toshiba Corp.