Thyristor Market Size

Thyristor Market Revenue Analysis

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The Thyristor Market size was valued at USD 1.6 billion in 2023 and is estimated to reach USD 2.31 billion by 2031 and grow at a CAGR of 4.21% over the forecast period of 2024-2031.

The thyristor market is booming due to two main factors. Firstly, the aging power infrastructure in developed economies needs replacing. Second, the growing deployment of smart grids is fueling market expansion. As always, thyristors remain crucial components in power electronics devices like controllers, inverters, and power supplies, fulfilling the need for solid-state switching devices.

Thyristors play a vital role in enhancing power quality by regulating voltage and current levels. In applications like static VAR compensators (SVCs) and static synchronous compensators (STATCOMs), thyristors help maintain stable power distribution, reduce line losses, and improve the overall efficiency of power transmission and distribution systems. With the world's shift towards renewable energy, thyristors are playing an increasingly vital role.  

Thyristor Market Overview:

Report Attributes Details
Key Segments • By Power Rating (500 MV, 500 MV-1000 MV And 1000 MV)
• By Application (Static VAR Compensators SVCs, Static Synchronous Compensators (STATCOMs)
• By End Use (Consumer Electronics, Telecommunication And Networking, Industrial Automotive, Aerospace & Defence, Healthcare, Manufacturing And Others)
Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles Mitsubishi Electric Corporation, Hitachi Ltd., STMicroelectronics NV, Infineon Technologies AG, Power Semiconductors., Analog Devices Inc , Semikron, Vishay Inter technology, Center Semiconductor, Diodes Incorporated




  • Power Grid Modernization Fuels Demand for Thyristors

As countries worldwide modernize their aging power grids, thyristors are becoming increasingly sought after.  Their dependable and robust design makes them ideal for handling the high currents and voltages needed for efficient power transmission in these upgraded systems. They have ability to precisely control motor speeds, regulate heating elements, and efficiently convert power makes them a critical component in applications like motor speed control for production lines, temperature control in furnaces, and power conversion for large machinery.

  • Beyond power transmission, thyristors find themselves embedded within the backbone of various industrial processes.


  •  Thyristors are reliable and well-established, advancements in alternative semiconductor technologies

Thyristors have carved a niche for themselves with their reliability and established technology. However, advancements in alternative semiconductors like Silicon Carbide (SiC) and Gallium Nitride (GaN) present a challenge. These newer materials boast potentially higher efficiency, faster switching speeds, and improved thermal performance, threatening to take over thyristors in specific applications.

  • Thyristor integration presents a greater design complexity compared to simpler switching devices


  • Modernization of power  grid Infrastructure

As the world grapples with rising electricity demands and the integration of renewable energy sources, a crucial opportunity emerges for the thyristor market.  Aging power grids around the globe are in dire need of modernization to meet these challenges.  Fortunately, thyristors, renowned for their ability to handle high currents and voltages, are ideally suited for these grid upgrade projects.  Manufacturers can capitalize on this by strategically focusing on developing thyristor solutions that directly address the specific needs of power grid modernization.

  • The burgeoning electricity demand in developing economies presents a significant growth opportunity for the thyristor market.


  • The rise of new contenders casts a shadow over the thyristor market

The thyristor face rising challenges from newer semiconductor materials like Silicon Carbide (SiC) and Gallium Nitride (GaN). These next-gen technologies boast superior efficiency, faster switching, and improved thermal management, making them attractive for applications demanding peak performance. To stay competitive, thyristor manufacturers will need to innovate and refine their technology to address these challenges.

  • Compared to simpler alternatives like relays, some thyristor devices carry a higher price tag


The war in Ukraine casts a dark cloud over the thyristor market. Disruptions in the supply chain, a hallmark of the conflict, are causing shortages of essential materials and delays in production. This can lead to limited availability of thyristors and potentially inflated prices.  Furthermore, the overall economic uncertainty breeds hesitation in businesses. Companies may postpone or reduce investments in projects that rely on thyristors, leading to a decline in demand. Finally, sanctions imposed on Russia by various countries could further restrict supply and impact specific market segments, as some manufacturers may struggle to source materials or conduct business with Russian companies. Companies should be prepared for potentially severe supply chain disruptions as the war persists. Reviewing business continuity plans, finding alternative sources for crucial materials like neon and palladium, and employing forward pricing strategies are all crucial steps to mitigate these challenges.


The ongoing war in Ukraine throws gasoline on the fire of the existing semiconductor supply chain woes. This conflict threatens to worsen the global chip shortage that has plagued the industry for the past two years.

An economic slowdown could throw a wrench into the thyristor market's growth trajectory. During downturns, businesses tighten their belts, delaying or reducing capital expenditures on large-scale projects, a prime application area for thyristors in industries like manufacturing and power transmission. This translates to a decrease in demand for thyristors. Furthermore, economic uncertainty breeds investor hesitation, potentially leading to a decline in investments for renewable energy and smart grid development – both sectors heavily reliant on thyristors.


By Power Ratings

  • 500 MV

  • 1000 MV

  • 500 MV-1000 MV

The thyristor market caters to a range of power needs, with devices categorized by their power rating. Lower power thyristors (below 500 MW) are commonly used in consumer electronics. The mid-range segment (500 MW-1000 MW) is poised for growth due to its versatility in industrial applications like motor control and power conversion for large machinery. Low-power thyristors (under 500W) captured the majority (over 47%) of the thyristor market in 2023.


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By Application

  • Static VAR Compensators SVCs,

  • Static synchronous Compensators (STATCOMs

These devices help regulate voltage fluctuations and improve power transmission efficiency in electricity grids. Thyristors play a crucial role in managing reactive power within SVCs. STATCOMs offer a more advanced solution compared to SVCs, providing both reactive power compensation and dynamic voltage control.

By End Use

  • Consumer Electronics,

  • Telecommunication and Networking,

  • Industrial Automotive,

  • Aerospace & Defence,

  • Healthcare,

  •  Manufacturing

  •  Others  

The thyristor market caters to a diverse range of applications, segmenting users by their end use. Consumer electronics reign supreme, driven by the extensive use of thyristors in various devices. Here, thyristors, particularly silicon-controlled rectifiers (SCRs), are critical for power control and voltage regulation. From TVs and audio systems to home appliances, their ability to efficiently manage electrical current ensures reliable and performant electronics. As the demand for energy-efficient and high-performance consumer electronics surges, the thyristor market thrives due to its role in powering and regulating these devices.

The International Energy Agency (IEA) forecasts a significant rise in electric vehicles. While they only made up 4% of global car sales in 2023, their market share is expected to jump to 11% by 2025 and potentially reach 29% by 2031. This surge is driven by factors like government incentives, falling battery costs, and a growing focus on low-carbon transportation.


The Asia-Pacific region is secure  for a remarkable rise in the thyristor market. Analysts predict a rapid Compound Annual Growth Rate (CAGR) from 2023 to 2031, fueled by several key drivers. The region's rapid industrialization creates a surging demand for thyristors in various industrial processes. Additionally, a growing focus on energy-efficient solutions is propelling the adoption of thyristors across diverse sectors.  Furthermore, the widespread adoption of electronics and power systems throughout Asia-Pacific further strengthens the need for this technology.  Within the region, China unsurprisingly holds the largest market share, while India emerges as the fastest-growing market, showcasing immense potential for future growth

The Europe stands out as a major player in the thyristor market, holding the second-largest global share. This dominance is driven by a trifecta of factors: a growing focus on energy efficiency, a surge in renewable energy adoption, and the widespread integration of thyristors in industrial automation and power electronics across the continent.  Within Europe, Germany reigns supreme with the largest market share, while the UK exhibits the most dynamic growth.



North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America      

Key players

Some of the major key players are Mitsubishi Electric Corporation, Hitachi Ltd., STMicroelectronics NV, Infineon Technologies AG, Power Semiconductors., Analog Devices Inc , Semikron, Vishay Inter technology, Center Semiconductor, Diodes Incorporated and others .

Mitsubishi Electric Corporation-Company Financial Analysis

Company Landscape Analysis


  • In September 2023 in a move to bolster its offerings, Hitachi Ltd. announced a significant acquisition in September 2023. The company acquired ABB Power Grids AB, a leader in electrical protection and power distribution products, including thyristors, for US$7 billion. This strategic move is expected to expand Hitachi's product portfolio and potentially strengthen their position in the thyristor market.

  • In September 2023 GE Transportation announced the acquisition of Kawasaki Heavy Industries, Ltd. for US$5.2 billion.  Kawasaki Heavy Industries is a prominent player in the market for thyristor electric locomotives, a technology utilizing thyristors for efficient power conversion. This strategic acquisition is expected to bolster GE Transportation's product portfolio, particularly in the thyristor electric locomotive segment, and potentially expand their geographic reach, positioning them for further growth in the market.

Thyristor Market Report Scope:

Report Attributes Details
Market Size in 2023 US$ 1.6 Billion
Market Size by 2031 US$ 2.31 Billion
CAGR CAGR of 4.21 % From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Drivers • Power Grid Modernization Fuels Demand for Thyristors
• Beyond power transmission, thyristors find themselves embedded within the backbone of various industrial processes.
Challenges • The rise of new contenders casts a shadow over the thyristor market
• Compared to simpler alternatives like relays, some thyristor devices carry a higher price tag

Frequently Asked Questions

Ans: The Thyristor  Market is expected to grow at a CAGR of 4.21%

Ans: Thyristor  Market size was USD  1.6 billion in 2023 and is expected to Reach USD 2.31 billion by 2031.

Ans: Beyond power transmission, thyristors find themselves embedded within the backbone of various industrial processes.

Ans: Thyristors are reliable and well-established, advancements in alternative semiconductor technologies.

Ans: The Asia-Pacific dominating the Thyristor Market By 40.2 %.


1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges

5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8. Pest Analysis

9. Thyristor  Market Segmentation, By Power Rating
9.1 Introduction
9.2Trend Analysis
9.3 500 MV
9.4  1000 MV
9.5 500 MV-1000 MV

10. Thyristor  Market Segmentation, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Static VAR Compensators SVCs,
10.4  Static synchronous Compensators (STATCOMs)

11. Thyristor  Market Segmentation, By End Use
11.1 Introduction
11.2 Trend Analysis
11.3Consumer Electronics,
11.4  Telecommunication and Networking,
11.5 Industrial Automotive,
11.6 Aerospace & Defence,
11.7 Healthcare,
11. 8 Manufacturing
11.9 Others

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Thyristor  Market By Country
12.2.3 North America Thyristor  Market By Power Rating
12.2.4 North America Thyristor  Market By Application
12.2.5 North America Thyristor  MarketBy End Use
12.2.6 USA USA Thyristor  Market By Power Rating USA Thyristor  Market By Application USA Thyristor  MarketBy End Use
12.2.7 Canada Canada Thyristor  Market By Power Rating Canada Thyristor  Market By Application Canada Thyristor  MarketBy End Use
12.2.8 Mexico Mexico Thyristor  Market By Power Rating Mexico Thyristor  Market By Application Mexico Thyristor  MarketBy End Use
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe Eastern Europe Thyristor  Market By Country Eastern Europe Thyristor  Market By Power Rating Eastern Europe Thyristor  Market By Application Eastern Europe Thyristor  MarketBy End Use Poland Poland Thyristor  Market By Power Rating Poland Thyristor  Market By Application Poland Thyristor  MarketBy End Use Romania Romania Thyristor  Market By Power Rating Romania Thyristor  Market By Application Romania Thyristor  MarketBy End Use Hungary Hungary Thyristor  Market By Power Rating Hungary Thyristor  Market By Application Hungary Thyristor  MarketBy End Use Turkey Turkey Thyristor  Market By Power Rating Turkey Thyristor  Market By Application Turkey Thyristor  MarketBy End Use Rest of Eastern Europe Rest of Eastern Europe Thyristor  Market By Power Rating Rest of Eastern Europe Thyristor  Market By Application Rest of Eastern Europe Thyristor  MarketBy End Use
12.3.3 Western Europe Western Europe Thyristor  Market By Country Western Europe Thyristor  Market By Power Rating Western Europe Thyristor  Market By Application Western Europe Thyristor  MarketBy End Use Germany Germany Thyristor  Market By Power Rating Germany Thyristor  Market By Application Germany Thyristor  MarketBy End Use France France Thyristor  Market By Power Rating France Thyristor  Market By Application France Thyristor  MarketBy End Use UK UK Thyristor  Market By Power Rating UK Thyristor  Market By Application UK Thyristor  MarketBy End Use Italy Italy Thyristor  Market By Power Rating Italy Thyristor  Market By Application Italy Thyristor  MarketBy End Use Spain Spain Thyristor  Market By Power Rating Spain Thyristor  Market By Application Spain Thyristor  MarketBy End Use Netherlands Netherlands Thyristor  Market By Power Rating Netherlands Thyristor  Market By Application Netherlands Thyristor  MarketBy End Use Switzerland Switzerland Thyristor  Market By Power Rating Switzerland Thyristor  Market By Application Switzerland Thyristor  MarketBy End Use Austria Austria Thyristor  Market By Power Rating Austria Thyristor  Market By Application Austria Thyristor  MarketBy End Use Rest of Western Europe Rest of Western Europe Thyristor  Market By Power Rating Rest of Western Europe Thyristor  Market By Application Rest of Western Europe Thyristor  MarketBy End Use
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Thyristor  Market By Country
12.4.3 Asia-Pacific Thyristor  Market By Power Rating
12.4.4 Asia-Pacific Thyristor  Market By Application
12.4.5 Asia-Pacific Thyristor  MarketBy End Use
12.4.6 China China Thyristor  Market By Power Rating China Thyristor  Market By Application China Thyristor  MarketBy End Use
12.4.7 India India Thyristor  Market By Power Rating India Thyristor  Market By Application India Thyristor  MarketBy End Use
12.4.8 Japan Japan Thyristor  Market By Power Rating Japan Thyristor  Market By Application Japan Thyristor  MarketBy End Use
12.4.9 South Korea South Korea Thyristor  Market By Power Rating South Korea Thyristor  Market By Application South Korea Thyristor  MarketBy End Use
12.4.10 Vietnam Vietnam Thyristor  Market By Power Rating Vietnam Thyristor  Market By Application Vietnam Thyristor  MarketBy End Use
12.4.11 Singapore Singapore Thyristor  Market By Power Rating Singapore Thyristor  Market By Application Singapore Thyristor  MarketBy End Use
12.4.12 Australia Australia Thyristor  Market By Power Rating Australia Thyristor  Market By Application Australia Thyristor  MarketBy End Use
12.4.13 Rest of Asia-Pacific Rest of Asia-Pacific Thyristor  Market By Power Rating Rest of Asia-Pacific Thyristor  Market By Application Rest of Asia-Pacific Thyristor  MarketBy End Use
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East Middle East Thyristor  Market By Country Middle East Thyristor  Market By Power Rating Middle East Thyristor  Market By Application Middle East Thyristor  MarketBy End Use UAE UAE Thyristor  Market By Power Rating UAE Thyristor  Market By Application UAE Thyristor  MarketBy End Use Egypt Egypt Thyristor  Market By Power Rating Egypt Thyristor  Market By Application Egypt Thyristor  MarketBy End Use Saudi Arabia Saudi Arabia Thyristor  Market By Power Rating Saudi Arabia Thyristor  Market By Application Saudi Arabia Thyristor  MarketBy End Use Qatar Qatar Thyristor  Market By Power Rating Qatar Thyristor  Market By Application Qatar Thyristor  MarketBy End Use Rest of Middle East Rest of Middle East Thyristor  Market By Power Rating Rest of Middle East Thyristor  Market By Application Rest of Middle East Thyristor  MarketBy End Use
12.5.3 Africa Africa Thyristor  Market By Country Africa Thyristor  Market By Power Rating Africa Thyristor  Market By Application Africa Thyristor  MarketBy End Use Nigeria Nigeria Thyristor  Market By Power Rating Nigeria Thyristor  Market By Application Nigeria Thyristor  MarketBy End Use South Africa South Africa Thyristor  Market By Power Rating South Africa Thyristor  Market By Application South Africa Thyristor  MarketBy End Use Rest of Africa Rest of Africa Thyristor  Market By Power Rating Rest of Africa Thyristor  Market By Application Rest of Africa Thyristor  MarketBy End Use
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Thyristor  Market By country
12.6.3 Latin America Thyristor  Market By Power Rating
12.6.4 Latin America Thyristor  Market By Application
12.6.5 Latin America Thyristor  MarketBy End Use
12.6.6 Brazil Brazil Thyristor  Market By Power Rating Brazil Thyristor  Market By Application Brazil Thyristor  MarketBy End Use
12.6.7 Argentina Argentina Thyristor  Market By Power Rating Argentina Thyristor  Market By Application Argentina Thyristor  MarketBy End Use
12.6.8 Colombia Colombia Thyristor  Market By Power Rating Colombia Thyristor  Market By Application Colombia Thyristor  MarketBy End Use
12.6.9 Rest of Latin America Rest of Latin America Thyristor  Market By Power Rating Rest of Latin America Thyristor  Market By Application Rest of Latin America Thyristor  MarketBy End Use

13. Company Profiles
13.1 Mitsubishi Electric Corporation

13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2  Hitachi Ltd
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3  STM icroelectronics NV
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Infineon Technologies AG
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5  Power Semiconductors
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13. 6 Analog Devices Inc.
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Semikron
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Vishay Inter technology
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Center Semiconductor.
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10  Diodes Incorporated
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View

14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions

15. Use Case and Best Practices

16. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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