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North America SCR Power Controller Market Trends

Report ID: GMI11678
Published Date: Oct 2024
Report Format: PDF

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North America SCR Power Controller Market Trends

North America SCR power controller industry is set to experience substantial expansion owing to increasing demand for temperature regulation systems across several industrial operations and growing focus on energy efficiency. Growing emphasis on minimizing energy intake, government regulations promoting energy efficient systems, robust investments in industrial development, stern regulatory framework aimed at reducing emissions are among the key factors augmenting the industry size. For instance, the Fiscal Responsibility Act of 2023 modernizes NEPA and environmental permitting regulations. The U.S. targets 40% emissions reduction by 2030, with additional reductions expected from state, federal, private sector, and civil society initiatives, focusing on transport, buildings, and industry sector.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

North American SCR power controller industry was valued at approximately USD 41.5 million in 2023, with a projected growth rate of 4.6% from 2024 to 2032.

The resistive load segment is expected to exceed USD 30 million by 2032 due to its ability to consistently regulate power across various resistive heating load banks, enhancing operational efficiency and control.

The U.S. market for power controllers is anticipated to surpass USD 50 million by 2032. This growth is driven by increasing demand for temperature regulation in industrial processes and a focus on reducing energy consumption.

Key players in the industry, including Advanced Energy, ABB, OMRON, Eurotherm, Vishay Intertechnology, and Watlow, are implementing strategies such as mergers, acquisitions, strategic partnerships, and joint ventures to strengthen their market position.