Global Market Size, Forecast, and Trend Highlights Over 2025 – 2037
SCR Power Controller Market size was valued at USD 183.14 million in 2024 and is set to cross USD 328.62 million by the end of 2037, expanding at more than 4.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of SCR power controller is estimated at USD 189.88 million.
The market growth is impelled by the increasing adoption of renewable energy sources. The acceptance and use of renewable energy are rising globally owing to its abundance and its ability to alleviate global warming. Moreover, grid integration of renewable energy necessitates the use of SCR power controllers to manage the power flow and maintain the stability of the grid. According to estimates, more than 90% of the expansion in the world's electricity capacity is anticipated to come from renewable sources by 2026.
The growing technological advancements are believed to fuel the SCR power controller market. For instance, in 2020 Advanced Energy introduced its new Thyro-A+ to provide next-generation SCR accuracy and significantly lower energy consumption, in precision heating applications.
SCR Power Controller Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Adoption of Industry 4.0 – Industry 4.0 describes the growing trend towards automation can be defined as the integration of technology such as the Internet of Things (IoT), cloud computing and analytics, AI, and machine learning into their manufacturing processes. SCR power controller helps in controlling electric power for machinery and is considered an integral part of smart manufacturing.
- Growing Sales of Electric Vehicles - This has led to an increase in demand for charging infrastructure which necessitates the usage of SCR power controllers for fast charging. According to estimates, in 2022, more than 73 million vehicles were sold worldwide, with electric automobiles making up over 14% of those sales.
Challenges
- Supply Chain Disruptions – SCR power controller is made from various specialized components and materials that require precise manufacturing processes which are often sourced from different regions which may lead to disruptions in case of any vulnerability. Besides this, any delay caused by the transportation network can impact the supply of the materials.
- Concerns associated with Cybersecurity
- Lack of Awareness and Education
- Limited Raw Materials
SCR Power Controller Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
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CAGR |
4.6% |
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Base Year Market Size (2024) |
USD 183.14 million |
|
Forecast Year Market Size (2037) |
USD 328.62 million |
|
Regional Scope |
|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
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CAGR |
9.3% |
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Base Year Market Size (2024) |
USD 11.94 billion |
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Forecast Year Market Size (2037) |
USD 37.94 billion |
|
Regional Scope |
<ul> <li><strong>North America</strong> (U.S., and Canada)</li> <li><strong>Asia Pacific </strong>(Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)</li> <li><strong>Europe</strong> (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)</li> <li><strong>Latin America</strong> (Mexico, Argentina, Brazil, Rest of Latin America)</li> <li><strong>Middle East and Africa</strong> (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)</li> </ul> |
SCR Power Controller Segmentation
Phase (Three Phase, Single Phase)
SCR power controller market from the Single phase segment is estimated to gain a robust revenue share of 60% in the coming years. Single-phase power controllers have slim bodies that are only 55 mm wide, making them easy to install, and they also help prevent damage to valuable machinery and appliances.
Load (Resistive, Non-Resistive)
The non-resistive segment in the SCR power controller market is set to register substantial growth through 2037, on account of the growing need for low current applications. It is expected that the growing focus on energy efficiency in several industries has led to an increase in demand for low-current applications. Non-resistive load allows precise control over power delivery and helps in minimizing voltage spikes in low-current applications. Moreover, they ensure efficient energy consumption crucial for low current applications.
Our in-depth analysis of the global SCR power controller market includes the following segments:
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Phase |
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Load |
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Control Method |
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Industry |
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Current Rating |
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Customize this ReportSCR Power Controller Industry- Regional Synopsis
North American Market Forecast
SCR power controller market in North America is predicted to account for the largest share of 51% by 2037, impelled by the rising chemical sector. The US Chemical Industry is among the biggest producers in the world by a wide margin, and a substantially faster growth in chemical output in the United States was reported in 2022. This may increase the demand for SCR power controllers in the region since they are widely used in the chemical industry to control the level of temperature which is crucial in various chemical processes. In the United States, the chemical industry's production volume is anticipated to grow by over 4% in 2022.
APAC Market Statistics
The Asia Pacific SCR power controller market is estimated to be the second largest, during the forecast timeframe, led by growing awareness of environmental sustainability among consumers. This has led to an increase in focus on energy optimization in various industrial processes, leading to higher demand for SCR power controllers.
Companies Dominating the SCR Power Controller Landscape
- Schneider Electric
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Siemens
- Honeywell International, Inc.
- ABB
- Gefran
- Chromalox
- Avatar Instruments
- Jumo
- Solcon Industries
In the News
- Schneider Electric teamed up with STMicroelectronics to reduce energy consumption on ST's manufacturing sites, and aid in the following phase of its continuous initiatives to lessen its environmental impact on the world. Furthermore, the two parties will intensify their collaboration to create new products, technologies, and energy efficiency improvement solutions, and will focus in particular on the opportunities made possible by wide-bandgap semiconductors (SiC and GaN), AI-enabled sensors, and connectivity.
- Honeywell International, Inc. an American advanced-technology company acquired COMPRESSOR CONTROLS CORPORATION to boost its position as a leader in industrial control, automation, and process solutions, allow clients to move more quickly towards renewable energy, and also strengthen its growth sustainability portfolio.
Author Credits: Richa Gupta
- Report ID: 5227
- Published Date: Oct 09, 2024
- Report Format: PDF, PPT
