Global Thyristor Market Size, Share, and COVID-19 Impact Analysis, By Power Rating (500 MW, 500 MW-1000 MW, and 1000 MW), By End Use (Consumer Electronics, Telecommunication & Networking, Industrial, Automotive, Aerospace & Defense, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Thyristor Market Insights Forecasts to 2035

• The Global Thyristor Market Size Was Estimated at USD 1.54 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 3.92% from 2025 to 2035
• The Worldwide Thyristor Market Size is Expected to Reach USD 2.35 Billion by 2035
• North America is expected to grow the fastest during the forecast period.

According to a research report published by Spherical Insights and Consulting, the global Thyristor market size was worth around USD 1.54 Billion in 2024 and is predicted to grow to around USD 2.35 Billion by 2035 with a compound annual growth rate (CAGR) of 3.92% from 2025 to 2035. The replacement of outdated infrastructure, government initiatives, and thyristors superior dependability and cost savings over traditional alternatives will all continue to have an impact on the worldwide thyristor industry. The market is expected to be driven by the increasing use of thyristors in consumer electronics.

Market Overview

The global thyristor market involves the production and application of semiconductor devices used for controlling high-voltage and high current power, widely utilized in industrial, automotive, and consumer electronic systems. The worldwide thyristor market is expanding rapidly due to rising power consumption, quick industrialization, and advances in electrical technology. Thyristors, sometimes referred to as silicon-controlled rectifiers, are essential semiconductor devices that regulate high current and voltage in a variety of applications. Key growth factors are the modernisation of electricity infrastructure and the growing demand for energy efficient equipment. Growing investments in smart grids, the use of HVDC systems, and more industrial automation are all contributing to market expansion. Additionally, the use of thyristors in power conditioning and control applications is growing due to developments in Iot, AI, and smart manufacturing technologies. Market potential is increased by government measures to modernize outdated power infrastructure and the growing use of electric motors across industries. Growing populations and energy demands are driving up demand in developing nations, especially in the Asia Pacific area. The market's long term growth prognosis is supported by ongoing thyristor technology improvement to lower energy losses and increase efficiency.

The market for thyristors is being greatly boosted by the increasing production of electric vehicles, which is being driven by stringent pollution regulations such as EU Regulation 2019 631. Power electronic components like IGBTs and thyristors are in greater demand as manufacturers move towards producing electric vehicles. Thyristors are being used more frequently in power control and conversion applications as a result of significant investments made in charging infrastructure by businesses like Charge Point, Electrify America, and Volkswagen, as well as DOEs reported expansion of charging stations.

Report Coverage

This research report categorizes the thyristor market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the thyristor market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub segment of the thyristor market. 

Driving Factors

The ageing power infrastructure in developed countries and rising energy consumption are driving growth in the global thyristor industry. Thyristors are small semiconductor devices that effectively regulate current flow in a single direction. They have four alternating P and N type layers. They are vital in a variety of industries, including power, telecom, automotive, and healthcare, due to their low power consumption, robustness, and versatile use as switches, diodes, and rectifiers. The need for dependable, effective thyristors is growing as countries update their electrical systems, which will fuel market growth.

Restraining Factors

The growth of the global market for thyristor devices could be influenced by a number of variables. The high cost of production would be the main obstacle. The infrastructures costly implementation presents a clear obstacle to market share. Additionally, consumers and industry experts lack awareness. The advantages of thyristor modules are not shared by all. Future acceptance of amorphous metal ribbons may be impacted by these drawbacks.

Market Segmentation

The Thyristor market share is classified into power rating and end use.

• The 500 MW segment dominated the market in 2024, approximately 45% and is projected to grow at a substantial CAGR during the forecast period.

Based on the power rating, the thyristor market is divided into 500 MW, 500 MW 1000 MW, and 1000 MW. Among these, the 500 MW segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The markets growth is attributed to thyristors extensive use in consumer electronics applications. However, thyristors rated between 500 and 900 MW are expected to grow significantly during the course of the forecast period. The growing demand from power producers is driving the sector.

• The industrial segment accounted for the highest revenue market share in 2024, approximately 42% and is anticipated to grow at a significant CAGR during the forecast period.

Based on the end use, the thyristor market is divided into consumer electronics, telecommunication & networking, industrial, automotive, aerospace & defense, and others. Among these, the industrial segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Thyristors are widely used in industrial automation, power control systems, and motor drives, which accounts for their supremacy. Thyristors are used by industries for dependable performance in challenging conditions, effective energy management, and high voltage regulation. The segment's ongoing global expansion is further fuelled by the rising demand for energy efficient solutions and the expanding use of smart manufacturing.

Regional Segment Analysis of the Thyristor Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share with approximately 38% of the Thyristor market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the thyristor market over the predicted timeframe. The largest concentration of thyristor module manufacturers. Throughout the anticipated period, the focus of several established manufacturers on technological advancements in semiconductor goods would further support the growth of the thyristors market in the region. Asia Pacific is expected to dominate the global thyristor module market for the duration of the projected period due to the large number of thyristor module manufacturers operating in the region. Additionally, because of the growing potential, a number of well known manufacturers from the Asia Pacific region are focussing on technological advancements in semiconductor goods, which is expected to have a beneficial impact on the regions thyristor module market.

North America is expected to grow the fastest market share with approximately 28% at a rapid CAGR in the hyristor market during the forecast period. Growth in this region is driven by increasing adoption of electric vehicles, modernization of power infrastructure, and rising demand for energy efficient electronic systems. Additionally, advancements in industrial automation and strong presence of key semiconductor manufacturers further accelerate market expansion across the United States and Canada.

Europe is expected to grow at a rapid CAGR in the thyristor market during the forecast period. Motivated by rising investments in smart grid development, electric vehicle uptake, and renewable energy initiatives. The growing need for thyristors in industrial and automotive applications is further supported by the regions emphasis on energy efficiency, developments in power electronics, and government programs to update outdated power infrastructure.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations companies involved within the thyristor market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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
• NXP
• Power Semiconductors
• Bourns
• Others

Key Target Audience

• Market Players
• Investors
• End users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value Added Resellers (VARs) 

Recent Development

• In May 2021, Hitachi Energy introduced new Bipolar power modules under the 60Pak family, offering the lowest losses and highest operating temperatures in industry standard housings. Designed for demanding applications, these modules deliver superior performance, exceptional reliability, and enhanced overload capability, ensuring efficient power delivery and seamless operation in fans, industrial motors, and other critical systems.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the thyristor market based on the below mentioned segments:  

Global Thyristor Market, By Power Rating

500 MW

500 MW 1000 MW

1000 MW

Global Thyristor Market, By End Use

• Consumer Electronics
• Telecommunication & Networking
• Industrial
• Automotive
• Aerospace & Defense
• Others

Global Thyristor Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa