Thyristors Devices Market Size, Share, Growth, Forecast 2030

Thyristors Devices Industry Prospective:

The global thyristors devices market size was worth around USD 829.67 million in 2022 and is predicted to grow to around USD 1479 million by 2030 with a compound annual growth rate (CAGR) of roughly 7.7% between 2023 and 2030.

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The report delves deeper into several crucial aspects of the global thyristors devices market. It includes a detailed discussion of existing growth factors and restraints. Future growth opportunities and challenges that impact the thyristors devices market are comprehensively addressed in the report.

Thyristors Devices Market: Overview

Thyristors are a part of the larger semiconductor industry. They are four-layer devices that consist of alternating P-type and N-type semiconductor devices or P-N-P-N. A P-type semiconductor is doped with indium (In) and boron (B). Whereas N-type semiconductor is doped with arsenic (As), phosphorous (P), and antimony (Sb) as impurities. Both variants are intrinsic semiconductors. Thyristor devices, in their most basic forms, are made of three terminals including a cathode (negative terminal), anode (positive terminal), and gate (control terminal) which is also responsible for controlling the current flow between the anode and the cathode. Thyristor devices perform the role of controlling electric current and power by acting as a switch and are known to provide effective protection to circuits that run large currents or voltages up to 4500 A and 6000 V respectively. In current times, these devices have wound large-scale applications across rapidly growing industries such as computing & communications, and consumer goods.

Key Insights:

• As per the analysis shared by our research analyst, the global thyristors devices market is estimated to grow annually at a CAGR of around 7.7% over the forecast period (2023-2030)
• In terms of revenue, the global thyristors devices market size was valued at around USD 829.67 million in 2022 and is predicted to grow to around USD 1479 million, by 2030.
• The thyristors devices market is projected to grow at a significant rate due to the growing demand for electricity
• Based on application segmentation, industrial & power was predicted to show maximum market share in the year 2022
• Based on type segmentation, SCR was the leading type in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Thyristors Devices Market: Growth Drivers

Growing demand for electricity to drive market growth

The global thyristors devices market is expected to grow owing to the increasing demand for electricity across the globe. These P-N-P-N devices have shown excellent results when used with systems that run on high voltages and currents where the main application lies in controlling alternate currents (AC). Despite the compact size of the semiconductor, they are widely used in power-generation infrastructure including power plants and grids. Moreover, one of the main attributes of the thyristor devices leading to its higher adoption is its low maintenance cost. When used under the right conditions, the semiconductor device does not have to be replaced for a long time which helps in relocating essential resources to other important aspects of power generation. The world population is growing rapidly. Alongside, industrialization and urbanization are expanding at a rapid rate. With the growth in the number of commercial establishments and industrial units, the demand for constant electricity supply is higher than ever.

Reports indicate that in the last two decades, energy consumption has increased by three times. In 2021, electricity consumption reached over 25000 terawatt-hours. Rising demand for electricity as it is one of the most basic amenities in the modern world is expected to drive the consumption rate of thyristor devices. For instance, in March 2023, South Africa initiated the construction of the 4.8GW Kusile power station. This grid is projected to become one of the world’s largest coal-run power plants

Thyristors Devices Market: Restraints

Several functional limitations of thyristor devices to restrict market expansion

Although thyristor devices have showcased superior performance in various applications that work on extremely high electric current or voltage, the global thyristors devices market growth is expected to be restricted due to the existing functional limitations of certain thyristor-based devices. For instance, thyristor metal inert gas (MIG) welders can only be used with AC. They cannot be used with direct current (DC) which is currently required for some welding applications. Additionally, these MIG welders are more expensive when compared to other types as they are built with complex and more expensive components. This is further affected by the low-performance efficiency of thyristor MIG welders since they are known to use more power while producing more heat. Similarly, the silicon-controlled rectifier (SCR) which is the most common thyristor used, does not function on high frequencies as the maximum operation frequency for SCR is 400 Hz. There are several other functional limitations with thyristor devices that could impede the demand rate of these semiconductors.

Thyristors Devices Market: Opportunities

Changing global political partnerships in the global semiconductor industry to provide growth opportunities

The global thyristors devices industry can expect new growth avenues due to the changing political partnerships and dynamics specifically targeting the semiconductor industry. This is mainly related to the undertakings by the US and European governments to distribute the dominance held by China in the semiconductor sector to other nations including India, Japan, and South Korea. In March 2023, the Indian and the US counterparts of the Commerce and Industry ministries signed a deal based on semiconductors. Through this deal, the countries will focus on developing the semiconductor supply chain and fostering an innovation-oriented partnership. While on the other front, in May 2023, South Korea and China were in talks to strengthen cooperation and communication related to the regional semiconductor sector. Companies operating in the thyristors devices sector should keep an eye on these changes as they may benefit from the dynamic partnerships if handled correctly.

Growing consumer goods sector to create further expansion opportunities

Thyristors are used in several consumer goods including electric cars, power tools, washing machines, air conditioners, and televisions along with many other examples. As consumer purchasing power increases with the rise of middle-income families, the consumer goods sector will continue to grow. By 2030, the global consumer electronics sector will cross over USD 1070 billion mark as per reports and this can become crucial for the consumption rate of thyristor devices as well.

Thyristors Devices Market: Challenges

Confusions between transistors and thyristors along with the presence of low-quality thyristor devices in the market to challenge higher revenue

The physical appearance and functionality of transistors, another set of commonly used semiconductor devices, are similar to thyristors. This can lead to confusion between the two semiconductors and hence working with each of these devices requires a thorough understanding of the exact differences between thyristors and transistors. To add to the confusion, the thyristors devices industry is filled with several types of thyristors and there are extremely tiny details that set each thyristor type apart from the other. These are some of the major challenges faced by the global market players which also impact revenue streams.

Thyristors Devices Market: Segmentation

The global thyristors devices market is segmented based on application, type, and region.

Based on application, the global market segments are industrial & power, automotive & transportation, computing & communications, and consumer goods. The highest growth was observed in the industrial & power segment in 2022. Factors including ease of switching on, simplicity of triggering circuits, and higher control over power delivered to the load are reasons for surging applications of thyristor devices in the industrial & power sector. In 2022, the global power generation industry was reported to be worth USD 1.85 trillion.

Based on type, the thyristors devices industry segments are GCTs, SCR, IGCT, and GTO. GCT stands for Gate Commutated Thyristor, IGCT stands for Integrated Gate-Commutated Thyristor, and GTO stands for Gate Turn-Off Thyristor. The market was led by the SCR segment. The variants are the oldest controlled thyristors and are still significantly used due to their simplicity, reliability, and a higher rate of applications. The average range of SCR is 50 to 800 ampere/microseconds.

Thyristors Devices Market: Report Scope

Thyristors Devices Market: Regional Analysis

Asia-Pacific is the largest revenue contributor in the market

The global thyristors devices market is presently dominated by Asia-Pacific led by countries such as China, South Korea, India, and Taiwan. The primary reasons for higher regional growth are Taiwan and China acting as the hub for semiconductor manufacturing. Reports indicate that nearly 90% of all advanced semiconductors and 60% of the world’s total semiconductors are exported from Taiwan. China is the largest buyer of chips from Taiwan and the US has increased its export rate in the current year driven by the need for advanced semiconductors for all end-user verticals.

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The growing rate of industrialization and surging demand for electricity along with growth in the number of power plants are crucial contributors to regional expansion. In May 2023, the Indian government acknowledged receiving an investment proposal of USD 1.53 trillion from 5 international companies for its regional display manufacturing and electronic chip factories. Growth in North America is led by the US and Canada regions propelled by the growth in the consumer electronic sector along with existing and growing demand for applications in communication technology. Rising sales of electric vehicles and increased research & development (R&D) could further help growth in North America.

Thyristors Devices Market: Competitive Analysis

The global thyristors devices market is led by players like:

• ON Semiconductor Corporation
• ABB Ltd.
• STMicroelectronics N.V.
• Toshiba Corporation
• Infineon Technologies AG
• Mitsubishi Electric Corporation
• SEMIKRON International GmbH
• Fuji Electric Co. Ltd.
• Renesas Electronics Corporation
• Hitachi Ltd.
• IXYS Corporation
• Littelfuse Inc.
• Vishay Intertechnology Inc.
• ROHM Semiconductor
• Microsemi Corporation

The global thyristors devices market is segmented as follows:

By Application

• Industrial & Power
• Automotive & Transportation
• Computing & Communications
• Consumer Goods

By Type

• GCTs
• SCR
• IGCTs
• GTO

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa