According to the research report titled ‘Global Thyristor Market (2022 Edition) - Analysis By Power Rating, Application, By Region, By Country Market Insights and Forecast with Impact of COVID-19 (2022-2027)’, available with MarketStudyReport, global thyristor market was worth USD 5.2 billion in 2021 and is expected to showcase decent growth during the period 2022-2027.

Growing population and technological innovations in the electronics sector have resulted in an increase in power consumption, necessitating the establishment of power grids. This, combined with soaring government measures to incorporate high-voltage direct current (HDVC) systems are factors propelling global thyristor market expansion.

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For the unversed, a thyristor is a four-layered semiconductor device that converts and fixes signals. It only permits current to move in one direction. It is similar to a transistor but since transistors cannot be used in all applications due to their inadequacy to deal with high currents, thyristors have become more popular.

The advent of cutting-edge technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI), combined with the skyrocketing demand for energy-efficient high-power electronic items across multiple manufacturing sectors are ramping up industrial growth.

In terms of power rating, the above 1000 MW segment of worldwide thyristor market is projected to witness remarkable development during the study period, given the substantial utilization of computers and robotics in smart factories.

Concerning application realm, the industrial electronics vertical is anticipated to yield significant gains during the forecast period, due to extensive demand for smart systems like intelligent electronic devices (IED), nanotechnology, automation equipment, etc., combined with rapid innovation in smart manufacturing, and greater emphasis placed on power conditioning using semiconductors to revamp the operational processes.

Regionally, Asia Pacific market is poised to retain a notable revenue share during the assessment period, given the change in focus from conventional to HDVC systems to meet the surging power demand of emerging nations like China's growing population.

The notable companies in global thyristor industry are Siemens AG, Semikron, Fuji Electric Co. Ltd., ABB Group, ON Semiconductor Corporation, Vishay Intertechnology Inc., Mitsubishi Electric Corporation, Analog Devices Inc., Infineon Technologies AG, and STMicroelectronics among others.