Gas Thyristor Market to Reach USD 2,172.33 Billion by 2032 Globally - Credence Research

LONDON, Jan. 27, 2026 /PRNewswire/ -- The global thyristor market shows stable expansion across power and industrial systems. The market size stood at USD 1,350.00 million in 2018. Revenue reached USD 1,521.77 million in 2024. Market value is projected to reach USD 2,172.33 million by 2032. The forecast period reflects a compound annual growth rate of 4.62%.

Thyristors serve as core components in high power control circuits. These devices regulate voltage, current, and switching functions. Power utilities, rail systems, and industrial plants rely on thyristor-based solutions. Growth reflects rising power demand and infrastructure upgrades across major economies.

Regional Market Overview

Asia Pacific holds the leading position with about 44% market share. Large-scale power infrastructure drives demand across the region. Manufacturing capacity and cost efficiency strengthen regional output. China and India remain primary contributors to regional growth.

North America accounts for nearly 26% market share. Grid modernization projects drive demand for power semiconductors. Utility upgrades and renewable integration support market expansion. Industrial automation further sustains consumption levels.

Europe represents around 20% of the global market. Industrial automation adoption supports steady demand. Rail electrification programs across key economies contribute to market stability. Power efficiency regulations encourage advanced semiconductor adoption.

Asia Pacific also leads growth momentum. The region records a CAGR of 5.4% during the forecast period. Expanding rail networks increase traction power requirements. Continuous grid capacity additions reinforce long-term demand.

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Market Driver

Rising investment in power infrastructure drives the global thyristor market. Governments prioritize grid expansion and stability. Aging transmission networks require upgrades across developed economies. Emerging economies invest heavily in new power capacity.

Thyristors support high voltage direct current transmission systems. These systems enable long-distance power transfer with lower losses. Renewable energy integration increases demand for robust power control devices. Wind and solar plants rely on controlled switching solutions.

Industrial electrification also supports market growth. Heavy industries adopt automated power control systems. Thyristors enable precise control in motor drives and furnaces. Stable performance under high load conditions strengthens adoption.

Market Trend

Increased deployment of thyristors in rail electrification reflects a key market trend. Urban transit systems expand rapidly across Asia and Europe. Electric locomotives require reliable traction power control. Thyristor-based converters meet high reliability standards.

Manufacturers focus on improving thermal performance and voltage ratings. Advanced packaging improves heat dissipation. Higher efficiency reduces system losses. These improvements extend device lifespan under harsh conditions.

Demand for compact power modules also rises. Space constraints drive integrated thyristor solutions. Modular designs simplify maintenance and replacement. Industrial users favor standardized modules for operational efficiency.

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Market Challenge

Competition from alternative power semiconductor devices presents a key challenge. Insulated gate bipolar transistors gain traction in mid-power applications. These devices offer faster switching speeds. Some applications shift away from traditional thyristor solutions.

Cost sensitivity affects adoption in developing regions. High initial system costs limit penetration in smaller projects. Price pressure impacts supplier margins. Manufacturers face challenges balancing cost and performance.

Complex installation and control requirements also restrain adoption. Skilled personnel remain necessary for system integration. Limited technical expertise slows deployment in certain regions. Training requirements add to operational costs.

Market Segmentation by Triggering Type

Electrical gate triggered thyristors account for nearly 55% market share. These devices see wide use in industrial power control. Motor drives and standard grid applications rely on this category. Proven reliability supports dominant adoption.

Light triggered thyristors hold around 30% share. These devices serve high voltage applications. Optical triggering reduces electrical noise interference. Power transmission systems favor this configuration.

Pulse transformer triggered thyristors contribute close to 15% share. Demand comes from noise-sensitive power systems. High isolation requirements support adoption. Specialized industrial systems sustain steady demand.

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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 reflects steady expansion through 2032. Infrastructure investment supports long-term demand. Regional growth patterns remain consistent across forecast years. Technology improvements enhance product competitiveness.

Asia Pacific will retain market leadership. Rail and grid projects sustain high growth rates. North America and Europe will record stable expansion. Industrial modernization will support replacement demand.

Manufacturers will focus on performance optimization and cost control. Product reliability will remain a decisive factor. The market outlook remains stable under current power investment trends.

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

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