Thyristor Market Trends

Growth Drivers

• Growing Penetration of EVs Due to Strict Emission Norms and Changing Charging Infrastructure - The fabrication of fuel-efficient automobiles is anticipated to endure as a result of this regulation's execution. Given this, the automakers need to extend the number of electric vehicles they create, which can dynamically increment the utilization of IGBTs. Similar to this, developing ventures and exercises to set up extra charging stations by critical companies like Charge Point, Zap America, and Volkswagen are significantly boosting the advertising for charging stations for electric vehicles. With a USD 2 billion speculation, Charge Point and Zap America joined in 2019 to introduce 30,000 Level 2 and DC quick charging stations over the US by 2023. 
• Government Initiatives Supporting the Use of Electric Motor - The initiatives taken by governments in several countries to replace aging power infrastructure are major factors that are expected to fuel the growth of the thyristor market over the forecast period. The growth of the market is also expected to be stimulated by an increase in electric motor adoption for business, industry, and home use. 

Challenges

• High in Cost - Thyristor are relatively expensive compared to alternative technologies such as insulated-gate bipolar translators. This initial investment cost can be a barrier for some applications, especially in cost-sensitive sectors.
• Threat from Substitute Technologies is Anticipated to Hamper the Thyristor Market Growth in the Upcoming Period
• Environmental Concerns Associated with it are Expected to Pose Limitation on the Market Growth in the Forecast Period.