Home > Energy & Power > Electrical Equipment > Electrical Infrastructure > SCR Power Controller Market
SCR Power Controller Market was valued at USD 186.1 million in 2023 and is anticipated to experience a CAGR of 5.3% between 2024 and 2032. Growing adoption of automation to enhance the precision and efficiency of industrial processes along with shifting inclination toward energy efficiency will complement the industry landscape.
For instance, in March 2023, the EU introduced Net-Zero Industry Act, aims to streamline regulations for producing key technologies, set 2030 targets for EU industrial capacity, expedite permitting processes, develop European standards for key technologies, and encourage public procurement of clean energy technologies. Moreover, ongoing technological advancements across semiconductor materials and shifting focus toward enhanced manufacturing processes will positively influence the business dynamics.
Report Attribute | Details |
---|---|
Base Year: | 2023 |
SCR Power Controller Market Size in 2023: | USD 186.1 Million |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 5.3% |
2032 Value Projection: | USD 294.8 Million |
Historical Data for: | 2021 - 2023 |
No. of Pages: | 80 |
Tables, Charts & Figures: | 51 |
Segments covered: | Load, Phase, Control Method, Current Rating, End Use and Region |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
SCR power controller industry is anticipated to witness significant growth owing to rapidly growing industrialization and urbanization that has led to increase in energy consumption across various industrial applications. Flourishing investments for development of industries across developing nations and stringent regulatory landscape for building infrastructure to curb emissions is shaping the industry dynamics. Furthermore, rising implementation of energy efficiency mandates and standards coupled with growing inclination toward energy efficiency is set to complement the business landscape.
Non-resistive segment is anticipated to surpass over USD 155 million by 2032. Ongoing establishment and expansion industrial infrastructure along with rising demand for industrial automation has complement the business landscape. The phase angle control method in SCR power controllers regulates power for non-resistive loads by controlling load voltage and reducing current spikes. This precise control is ideal for smaller electrical heating equipment, along with refined control capabilities further driving the product adoption.
Phase angle control segment is anticipated to grow owing to increasing industries reliant on heat processes across various applications including food processing and metallurgy along with precise adjustment of the voltage phase angle. The ability of these units to effectively managing power output and reducing current spikes, critical for applications requiring smooth operation along with enhanced efficiency and reduction in energy consumption are some of major parameters augmenting the industry landscape.
Single phase segment is set to witness a CAGR of over 5% through 2032. Ongoing urbanization across several nations along with and expansion small scale industrial infrastructure will complement the business landscape. Rising demand for low current rating components across industrial operations coupled with rising consumer disposable incomes and growing demand for processed foods is set to accelerate the demand for these controllers, further augmenting the business landscape.
Asia Pacific SCR power controller market is likely to exceed USD 150 million by 2032. Rapidly growing industrialization across emerging nations across the region along with shifting inclination toward reducing emissions and increasing energy efficiency is set to complement the business landscape. For instance, according to India Brand Equity Foundation, the country has outlined infrastructure plan to allocate USD 1,723 trillion for energy infrastructure and industrial development between 2024 and 2030. Moreover, accelerating development across industries including oil &gas, petrochemical, food processing among others along with the growing focus on digitization and flourishing investment from financial institutions for infrastructure development will further positively influence the business landscape.
Key players operating across the SCR power controller industry are focusing on mergers & acquisitions, forming strategic collaborations and partnerships, joint ventures, to strengthen their competitive market share. Key players including, Advanced Energy, OMRON Corporation, Eurotherm, Vishay Intertechnology, Inc., Gefran SpA, and Watlow Electric Manufacturing Company, among other, holds majority of the market share across the industry.
Major manufacturers operating across the market comprising of:
Click here to Buy Section of this Report
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 regions and countries: