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Based on load, the resistive load segment is expected to grow over USD 30 million by 2032 owing to the ability of these units to consistently regulate power across various resistive heating load banks, leading to improved operational efficiency and control. These units outperform in managing power output and minimizing current spikes, which is crucial for operations requiring smooth performance. Furthermore, the precise control capabilities of these units, together with ongoing industrial modernization projects support the increasing demand for advanced power control solutions across glass, metal, and ceramic manufacturing sectors.
Single phase segment is set to a witness a CAGR of over 4.5% by 2032. The increasing need for accurate power regulation and the capability to manage high voltage loads and currents in commercial and light industrial establishments is complementing the industry landscape. In addition, the ongoing expansion of small-scale industries across various countries, combined with a growing focus on energy efficiency and automation in sectors such as manufacturing and HVAC systems.
U.S. SCR power controller market is anticipated to surpass 50 million by 2032. Rising demand for temperature regulations across several industrial processes along with increasing inclination toward reducing energy consumption will complement the business landscape. Authorities are implementing stringent measures to enhance industrial energy efficiency, prompting a shift from traditional heating power control devices to more advanced and environmentally friendly alternatives. For instance, as per the IEA, the U.S. observed a remarkable 4% decrease in energy intensity in 2023. This achievement aligns with the global efforts to double energy efficiency enhancements to 4% annually by 2030. Moreover, mounting focus on digitization across sectors including petrochemical, oil & gas, food processing, and rising investments in infrastructure.