/C O R R E C T I O N -- Credence Research Inc./

In the news release 'Gas Thyristor Market to Reach USD 2,172.33 Billion by 2032 Globally – Credence Research' issued on Jan. 27, 2026 by Credence Research Inc. over PR Newswire, we are advised by the company that the original version contained incorrect information. The complete, corrected release follows:

Thyristor Market to Reach USD 2,172.33 Million by 2032 Globally – Credence Research

LONDON, Jan. 29, 2026 /PRNewswire/ -- According to Credence Research, the global thyristor market continues to expand at a stable pace. The market was valued at USD 1,350.00 million in 2018. Revenue increased to USD 1,521.77 million in 2024. The market is projected to reach USD 2,172.33 million by 2032, growing at a CAGR of 4.62% during the forecast period.

Thyristors play a critical role in high-power control applications. These components manage voltage regulation, current control, and switching operations. Power utilities, railway systems, and industrial facilities rely heavily on thyristor-based solutions. Rising electricity demand and ongoing infrastructure upgrades continue to support market growth.

Regional Market Insights

Asia Pacific leads the global thyristor market with nearly 44% share. Large-scale power infrastructure projects drive strong demand across the region. High manufacturing capacity and cost advantages further strengthen regional output. China and India remain the key contributors to overall market expansion.

North America holds around 26% market share. Grid modernization initiatives are boosting demand for advanced power semiconductors. Renewable energy integration and utility upgrades support sustained market development. Industrial automation also contributes to stable consumption.

Europe accounts for approximately 20% of global demand. Widespread industrial automation supports steady market activity. Rail electrification programs across major economies enhance long-term demand. Stringent energy efficiency regulations promote adoption of advanced semiconductor technologies.

Asia Pacific also leads in growth momentum, registering a CAGR of 5.4% over the forecast period. Expanding rail networks increase traction power needs. Continuous grid capacity additions reinforce long-term market potential.

Browse the report and understand how it can benefit your business strategy -  https://www.credenceresearch.com/report/thyristor-market/ 

Market Driver

Rising investment in power infrastructure is driving the global thyristor market. Governments are prioritizing grid expansion and system stability. Aging transmission networks across developed economies require large-scale upgrades.

Emerging economies are investing heavily in new power generation capacity. Thyristors support high-voltage direct current transmission systems. These systems enable long-distance power transfer with lower energy losses.

Renewable energy integration further strengthens demand. Wind and solar plants require robust power control devices. Thyristors provide reliable switching under variable load conditions.

Industrial electrification also supports market growth. Heavy industries are adopting automated power control systems. Thyristors deliver precise control in motor drives and industrial furnaces.

Market Trends

The growing use of thyristors in rail electrification is a key market trend. Urban transit networks are expanding rapidly across Asia and Europe. Electric locomotives require dependable traction power control systems.

Thyristor-based converters meet strict reliability and safety standards. Manufacturers are focusing on improving thermal performance and voltage ratings. Advanced packaging technologies enhance heat dissipation and operating efficiency.

Demand for compact power modules is also increasing. Space constraints are driving integrated thyristor solutions. Modular designs simplify maintenance and reduce downtime for industrial users.

Read in your language –

https://www.credenceresearch.com/es/report/mercado-de-tiristores/ 

https://www.credenceresearch.com/de/report/thyristormarkt/ 

https://www.credenceresearch.com/ko/report/thyristor-market-ko/ 

https://www.credenceresearch.com/ja/report/thyristor-market-ja/ 

https://www.credenceresearch.com/sv/report/thyristormarknad/ 

https://www.credenceresearch.com/fr/report/marche-des-thyristors/ 

https://www.credenceresearch.com/zh/report/thyristor-market-zh/ 

Market Challenge

Competition from alternative power semiconductor devices remains a key challenge. Insulated gate bipolar transistors gain traction in mid-power applications. Faster switching speeds drive substitution in selected use cases.

Cost sensitivity limits adoption in developing regions. High initial system costs restrict penetration in smaller projects. Pricing pressure also impacts supplier margins across competitive markets.

Complex installation and control requirements further restrain adoption. Skilled personnel are required for system integration. Limited technical expertise slows deployment in some regions and increases operating costs.

Market Segmentation by Triggering Type

Electrical gate triggered thyristors account for nearly 55% of the global market. These devices are widely used in industrial power control systems. Motor drives and standard grid applications support strong demand.

Light triggered thyristors hold around 30% market share. These devices are preferred in high-voltage applications. Optical triggering minimizes electrical noise and improves system reliability.

Pulse transformer triggered thyristors represent close to 15% share. Demand comes from noise-sensitive power environments. High isolation requirements sustain adoption in specialized industrial systems.

Preview the report with a detailed sample and understand how it can benefit your business strategy. Request a free sample today – https://www.credenceresearch.com/report/thyristor-market/

Competitive Landscape

The global thyristor market features established multinational suppliers. These companies invest in product reliability and performance. Long-term supply contracts support stable revenue streams. Technical expertise remains a core competitive factor.

Key players maintain global manufacturing footprints. Regional production supports cost control and supply stability. Research and development focuses on efficiency improvements. Product differentiation centers on voltage ratings and thermal management.

Key Player Analysis

• ABB Ltd
• Siemens AG
• Schneider Electric SE
• Eaton Corporation Plc.
• Honeywell International Inc.
• Analog Devices, Inc.
• STMicroelectronics N.V.
• Infineon Technologies AG
• ON Semiconductor
• Fuji Electric Co., Ltd.
• Mitsubishi Electric
• Nihon Inter Electronics Corporation

Outlook

The global thyristor market is expected to maintain steady expansion through 2032. Ongoing infrastructure investment will continue to support long-term demand. Regional growth patterns are expected to remain consistent over the forecast period.

Technological advancements will enhance product competitiveness and system efficiency. Asia Pacific is projected to retain its market leadership position. Rail electrification and grid expansion projects will sustain higher growth rates in the region.

North America and Europe are expected to record stable market expansion. Industrial modernization will support replacement and upgrade demand. Manufacturers will focus on performance optimization and cost control to strengthen market positioning. 

Recent Developments:

July 2025:
Littelfuse introduced the Pxxx0S3H SIDACtor® Protection Thyristor Series. The device supports 2 kA surge protection in a compact DO-214AB package. The launch targets smaller designs with improved surge endurance.

September 2025:
Hitachi Energy, at PCIM Asia 2025, showcased new thyristor products. Highlights included a next-generation 6.5 kV, 3.8 kA phase-control thyristor with an explosion-protected housing option. The lineup also covered variants for HVDC and heavy industrial conversion systems.

January 2026:
Hind Rectifiers reaffirmed its expansion and diversification plans through public updates. The company highlighted continued investment in high-power electronics platforms. These platforms serve rail and industrial power conversion applications using thyristor-based rectifiers.

April 2024:
Mitsubishi Electric Corporation partnered with Fuji Electric Co., Ltd. to jointly develop and manufacture thyristors. The collaboration combines both firms' technical expertise. The goal is to deliver reliable and advanced thyristor solutions.

May 2024:
Hitachi, Ltd. announced the acquisition of ABB Power Grids AB for USD 7 billion. ABB Power Grids supplies electrical protection and power distribution products, including thyristors. The deal strengthens Hitachi's global reach and portfolio.

September 2024:
GE Transportation announced the acquisition of Kawasaki Heavy Industries, Ltd. for USD 5.2 billion. Kawasaki is known for thyristor-based electric locomotive systems. The move aims to expand GE Transportation's product scope and market presence.

April 16, 2024:
ABB supplied a thyristor rectifier system to Mitsubishi Heavy Industries' SOEC test platform. The system supports hydrogen production research. The project advances solid oxide electrolysis technology.

June 6, 2024:
Panasonic Connect expanded its AV solution portfolio at InfoComm 2024. The new offerings focus on flexible and reliable visual technologies. Target sectors include entertainment, education, corporate, and worship environments.

Segmentation:

By Power Rating

• 500 MV
• 500 MV–1000 MV
• 1000 MV

By Device Type

• Silicon-Controlled Rectifier (SCR)
• Gate Turn-Off Thyristor (GTO)
• Bidirectional Triac
• Reverse Conducting Thyristor
• Asymmetric Thyristor (ASCR)

By Mounting and Package

• Stud-Type
• Capsule/Disc
• SMD and Clip-mount
• Module

By Triggering Method

• Electrical Gate Triggered
• Light Triggered (LTT)
• Pulse Transformer Triggered

By End User

• Consumer Electronics
• Telecommunication & Networking
• Industrial
• Automotive
• Aerospace & Defence

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• South-east Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

 

Tailor the report to align with your specific business needs and gain targeted insights. Request Here – https://www.credenceresearch.com/report/thyristor-market/

Discover additional reports tailored to your industry needs-

Switchgear Monitoring System Market https://www.credenceresearch.com/report/switchgear-monitoring-system-market/

Land Mobile Radio (LMR) Systems Market https://www.credenceresearch.com/report/land-mobile-radio-systems-lmr-market/

Industrial Annunciators Market https://www.credenceresearch.com/report/industrial-annunciators-market/

Predictive Maintenance Market https://www.credenceresearch.com/report/predictive-maintenance-market/

Mobile Wallet And Payment Market https://www.credenceresearch.com/report/mobile-wallet-and-payment-market/

Artificial Intelligence Platform Market https://www.credenceresearch.com/report/artificial-intelligence-platform-market/

Head-Up Display (HUD) Market          https://www.credenceresearch.com/report/head-up-display-market/

Converged Infrastructure Market https://www.credenceresearch.com/report/converged-infrastructure-market/

Spear Phishing Protection Market https://www.credenceresearch.com/report/spear-phishing-protection-market/

Corporate Training Market https://www.credenceresearch.com/report/corporate-training-market/

U.S. IT Staffing Market https://www.credenceresearch.com/report/us-it-staffing-market/

Serverless Apps Market          https://www.credenceresearch.com/report/serverless-apps-market/ 

Contact Us
Credence Research Inc, 
Tower C-1105 , S 25, Akash Tower,
Vishal Nahar, Pimple Nilakh,
Haveli,
Pune – 411027, India
Europe - +44 7453 598 606
North America - +1 304 308 1216
Australia - +61 4192 46279
Asia Pacific - +81 5050 50 9250
+64 22 017 0275
India - +91 6232 49 3207 sales@credenceresearch.com www.credenceresearch.com

Logo - https://mma.prnewswire.com/media/2562161/Credence_Research_Logo.jpg