North America SCR Power Controller Market Size – By Load, By Phase, By Control Method, By Current Rating, By End-Use, Analysis, Share, Growth Forecast, 2024 - 2032
Report ID: GMI11678
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Published Date: October 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 17
Tables & Figures: 14
Countries covered: 3
Pages: 80
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North America SCR Power Controller Market Size
North America SCR power controller market size was estimated at USD 41.5 million in 2023 and is set to experience a growth rate of 4.6% from 2024 to 2032. Increasing adoption of automation in industrial processes is enhancing precision and efficiency coupled with a growing focus on energy efficiency, is shaping the industry landscape.
Ongoing technological advancements in semiconductor materials and improved manufacturing processes is positively influencing the business dynamics. For instance, in September 2024, the U.S. Department of Energy allocated USD 142 million to fund 123 projects across 34 states. These initiatives focus on key national priorities, including clean energy, cybersecurity, fusion energy, and nuclear non-proliferation. Moreover, growing need to regulate accurate temperature across various industrial operations and a shifting focus on energy conservation will augment the product deployment.
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.
North America SCR Power Controller Market Analysis
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.
North America SCR Power Controller Market Share
Key players operating in the industry are implementing various strategies to enhance their market position including mergers, acquisitions, strategic partnerships, and joint ventures. Major players including Advanced Energy, ABB, OMRON, Eurotherm, Vishay Intertechnology, and Watlow collectively hold a majority market share. These strategic moves aim to strengthen their competitive advantage and expand their presence across the North America industry.
North America SCR Power Controller Market Companies
Some of the major industry players operating across the industry consist of:
North America SCR Power Controller Industry News
North America SCR power controller market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032 for the following segments:
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Market, By Load
Market, By Phase
Market, By Control Method
Market, By Current Rating
Market, By End Use
The above information has been provided for the following countries: