Thyristor Market is predicted to reach at a CAGR of 4.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Thyristor Market”.

The Thyristor market is estimated to register a CAGR of 4.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Thyristor market— Eaton Corporation, Siemens AG, Scheider Electric SE, Mitsubishi Electric Corporation, Hitachi Ltd., STMicroelectronics NV, Infineon Technologies AG, Power Semiconductors, Analog Devices, Inc., Semikron.

Market Highlights

The global Thyristor market is accounted to register a CAGR of 4.20% during the forecast period and is estimated to reach USD 2.172 billion by 2032.

The thyristor market is experiencing notable growth, driven by the increasing demand for reliable and energy-efficient power control solutions in diverse applications. Key market highlights include a surge in the adoption of thyristors in power electronics, motor drives, and voltage regulation systems to enhance efficiency and precision. Additionally, the renewable energy sector is contributing to market expansion, with thyristors playing a vital role in controlling power flow in wind turbines and solar inverters.

Segment Analysis

The global Thyristor market has been segmented based on power rating and end use.

On the basis of power rating, the market is segmented into 500 MV, 500 MV-1000 MV and 1000 MV. The 500 MV segment was attributed to holding the largest market share in 2022, due to the critical role it plays in high-power applications across various industries.

Based on end use, the global Thyristor market has been segmented into Consumer Electronics, Telecommunication & Networking, Industrial, Automotive, Aerospace & Defense and Others. The consumer electronics segment was expected to hold the largest market share in 2022, due to the widespread use of thyristors in various devices and applications within this sector.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Thyristor Market Research Report

Regional Analysis

The global Thyristor market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Thyristor market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Thyristor market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Thyristor market comprises of Middle East, Africa, and Latin America.

The largest market share for Thyristor was maintained by the North American regional sector. This increase is attributed to the region's emphasis on upgrading and modernizing its power infrastructure, leading to increased adoption of thyristors in power electronics and voltage regulation systems. The growing demand for energy-efficient solutions and the integration of thyristors in renewable energy projects, such as wind and solar power installations, further contribute to market growth.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Thyristor is driven by the region's focus on renewable energy initiatives and the growing demand for energy-efficient solutions in industrial applications, where thyristors play a crucial role in power control and regulation. Additionally, the emphasis on upgrading and modernizing the existing power infrastructure further contributes to the growth of the thyristor market.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the region's robust industrialization and increasing adoption of energy-efficient technologies, where thyristors find extensive use in power control systems and motor drives. Additionally, the growing demand for renewable energy solutions in countries like China and India is propelling the use of thyristors in applications such as wind power and solar inverters.

Furthermore, the rest of the world's Thyristor market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's increasing investments in infrastructure development, particularly in power generation and transmission projects, where thyristors play a crucial role in efficient and controlled power delivery. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global Thyristor market is expected to reach USD 1.5 billion by 2032, at a CAGR of 4.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the region's rapid industrialization, increased investments in power infrastructure, and the growing adoption of energy-efficient technologies across diverse sectors.


• Based on power rating, the 500 MV segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.


• Eaton Corporation, Siemens AG, Scheider Electric SE, Mitsubishi Electric Corporation, Hitachi Ltd., STMicroelectronics NV, Infineon Technologies AG, Power Semiconductors, Analog Devices, Inc., Semikron.