SCR Power Controller Market Estimated to Surpass $175 Million Mark by 2026
Growing Industrialization in the Developing Economies and Technological Advancements is Driving the Growth of SCR Power Controller Market
Hyderabad, India – July 20, 2021 /MarketersMedia/ —
The global SCR Power Controller Market is estimated to surpass $175 Million mark by 2026 growing at an estimated CAGR of more than 4.0% during the forecast period 2021 to 2026. SCR Power Controllers are deployed across several industries including semiconductors, metals, glass and others for monitoring and controlling the thermal processes and heat sinks. SCR Power Controllers market is estimated to witness substantial growth over the forecast period primarily due to the rising industrialization with focus on the energy efficiency of electrical heating equipment which is attributed with the growth of the market. Steady supply of power, effective management of power surges, phase angle control, resistive load power controllers allow conservation of power and benefit for the extended lifetime, are the key features of which will boost the product deployment and in turn improve the market growth. .
SCR Power Controller Market Segment Analysis – By Phase
SCR Power controller Market is segmented into Single and Three Phase. The three phase SCR power controller is expected to grow at 5.2% during the forecasted period. High power loads like heating systems are focused on three phase controller as this has high current carrying capacity, thus providing power delivery at a steady and constant rate. This will boost the market growth for the SCR power controller. With these features many industries like Metal, oil& gas have adopted three phase SCR Power controllers.
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SCR Power Controller Market Segment Analysis – By End User Industry
The Oil & Gas sector has the highest market share at 18.5% in 2020. The Investments made in the crude oil is major factor for the penetration of SCR power controller. Boilers and Heaters have been integrated for certain mechanism for the production of oil & gas, this in turn reciprocates the adoption of SCR power controller for the efficient heating. Food & beverage industry deploys SCR Power Controllers for the cooking, baking and other process.
SCR Power Controller Market Segment Analysis – By Geography
APAC region is expected to grow exponentially in the forecast period with a CAGR of 5.9%. This is due to rapid industrialization across the developing countries like India, China, South East Asia and others. Glass, Metals, Food& Beverages are the developing industries in the region which are the basis of heating and temperature control products demand. Europe and North America follow APAC region in terms of growth of market during the forecasted period. RoW will also witness the growth due to its resources availability like hydrocarbon which uplifts the market for the installation of refineries and temperature control for the region.
SCR Power Controller Market Drivers
Growing industrialization in the developing economies
One of the major drivers of SCR Power Controllers market is growing industrialization in many developed countries. SCR Power Controller’s capability to limit the heating process is the major driving factor for the application of SCR power controller. Growing demand for digitized control system of heating process in various industries like metal, oil& gas is explicitly improving the market. Reduced operational downtime due to its advancement is other driving factor for the SCR power Controller.
Technological Advancements
As a result of the numerous advancements in technology and R&D in the electronics sector, power controllers are being used across for almost all electronic devices, even more so for those in the industrial sector. The substrate technology used in SCR Power controllers play a significant role in ensuring a more rugged device with a longer life-cycle. SCR Power controllers provide high efficiency, and better electrical properties to withstand numerous life-cycles which is perfectly apt for applications such as aerospace, industrial and power thus driving the market.
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SCR Power Controller Market Challenges
The major factor limiting growth is lack of expertise to operate and irregular maintenance of SCR Power Controller. Companies face issues with components and servicing the components. Inadequate knowledge of handling the SCR controller will interrupt the investments made to the industry and this will impact the growth of market.
SCR Power Controller Market Landscape
The major key players of SCR power controller market are Omron, Schneider Electric, ABB, Jumo, CD Automation, Control concepts, Advanced Energy industries, Honeywell, Siemens, Chromalox, Avatar Instruments, Solcon, RKC Instruments and others.
Acquisitions/Technology Launches/Partnerships
In November 2020, Advanced Energy Industries launched new SCR power Controller. New Thyro-A+ is the controller which will substantially increase control accuracy in the smallest design. New Thyro-A+ for precision industrial and semiconductor heating applications.
Key Takeaways
The SCR Power Controller market is estimated to witness substantial growth over the forecast period primarily due to the growing demand for digitization of industries which will complement the SCR power controllers market due to their excellent ability to control heating process.
Metal industry is one of the major driving factors for the growth of the SCR Power Controller market. Thermal processing in metal industry is majorly done with the SCR power controller and this industry holds the major share in the forecasted period.
SCR Power Controller market will have the growth in the APAC and RoW regions as the developing nations are involved with industrialization in the forecast period this in turn will increase the market share for the SCR power controller market
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