According to a new report published by Introspective Market Research, titled, Thyristor Market by Power Rating, Application, and End User, The Global Thyristor Market Size Was Valued at USD 1.50 Billion in 2023 and is Projected to Reach USD 2.24 Billion by 2032, Growing at a CAGR of 4.60%. The global Thyristor Market is gaining traction as industries increasingly adopt efficient semiconductor devices for power conversion and control. Thyristors, also known as silicon-controlled rectifiers (SCRs), are widely used in applications requiring high voltage and current handling, such as motor drives, power supplies, and industrial automation. Their ability to handle high power with minimal energy loss makes them a critical component in modern power electronics.
Compared to conventional switches and rectifiers, thyristors offer superior durability, cost-effectiveness, and operational efficiency, which contribute to their widespread adoption. They are extensively utilized in renewable energy integration, electric vehicles (EVs), HVDC transmission, and consumer electronics. As global demand for energy efficiency and smart power solutions rises, the thyristor market is expected to experience steady, long-term growth.
A key growth driver of the Thyristor Market is the increasing demand for renewable energy integration and efficient power transmission systems. Thyristors play a vital role in high-voltage direct current (HVDC) transmission lines, where they help minimize energy loss over long distances. Additionally, the rapid expansion of wind and solar power plants is driving the need for robust semiconductor devices that can manage variable loads and ensure grid stability. These factors collectively position thyristors as indispensable in the global transition toward sustainable energy.
One significant opportunity for the thyristor market lies in the rising adoption of electric vehicles (EVs) and industrial automation. Thyristors are key components in motor control and battery management systems, making them essential for efficient EV operations. Similarly, industries are automating processes at scale, requiring reliable power control devices. With governments worldwide promoting EV adoption and smart industry practices, the thyristor market is well positioned to benefit from increasing investment in next-generation mobility and Industry 4.0 technologies.
Thyristor Market, Segmentation
The Thyristor Market is segmented on the basis of Power Rating, Application, and End User.
Power Rating
- The Power Rating segment is further classified into Low Power, Medium Power, and High Power. Among these, the High Power sub-segment accounted for the highest market share in 2024. High-power thyristors are extensively used in energy transmission, industrial drives, and power generation systems due to their superior load-handling capacity. Their reliability in controlling high voltages and currents makes them the preferred choice in grid modernization projects and renewable power installations, driving consistent demand.
Application
- The Application segment is further classified into Motor Control, Power Conversion, Light Dimming, Pressure Control, and Others. Among these, the Motor Control sub-segment accounted for the highest market share in 2024. Thyristors are widely used in motor drives across industrial automation, automotive systems, and HVAC equipment, offering precise speed and torque control. Their role in enhancing efficiency and reducing power consumption has made them integral to industries seeking energy-efficient solutions and sustainability compliance.
Some of The Leading/Active Market Players Are-
- ABB Ltd. (Switzerland)
- Infineon Technologies AG (Germany)
- ON Semiconductor (United States)
- STMicroelectronics N.V. (Switzerland)
- Mitsubishi Electric Corporation (Japan)
- Toshiba Corporation (Japan)
- Renesas Electronics Corporation (Japan)
- Vishay Intertechnology, Inc. (United States)
- Littelfuse, Inc. (United States)
- Fuji Electric Co., Ltd. (Japan)
- Semikron Danfoss (Germany)
- Hitachi Energy (Switzerland)
- Microchip Technology Inc. (United States)
- NXP Semiconductors (Netherlands)
and other active players.
Key Industry Developments
In April 2024, Infineon Technologies launched a new range of high-power thyristors designed for HVDC applications.
This launch strengthens Infineon’s product portfolio and supports the growing demand for efficient power transmission solutions in renewable energy projects.
In August 2024, ABB announced its collaboration with a major utility provider to upgrade HVDC transmission systems using advanced thyristors.
This collaboration reflects ABB’s commitment to innovation and its role in supporting global efforts for sustainable and efficient energy distribution.
Key Findings of the Study
- High-power thyristors dominated the market in 2024.
- Motor control was the leading application segment.
- Asia-Pacific held the largest share due to rapid industrialization and EV growth.
- HVDC and renewable energy projects are key growth drivers.
- Industrial automation presents emerging opportunities.
