According to the 2016 thyristor market report, the aging power infrastructure in developing nations needs upgrading to incorporate technological advances in the transmission and distribution (T&D) of electricity. Rising global population and urbanization have resulted in increased demand for electricity, especially in developing nations. Thyristors are used in the inverters to convert electricity to drive an AC appliance. Also, the establishment of offshore wind farms will drive the global thyristor market during the forecast period because of their ability to generate more energy using fewer turbines.
The analysts forecast global thyristor market to grow at a CAGR of 7.16% during the period 2016-2020. Many developed and developing countries have announced investments in smart grids due to aging power infrastructure. Smart grids employ modern electronic systems for advanced T&D of power through the grid. The growing demand for a low carbon emission power system has led to the growth of renewable energy such as wind, solar, geothermal, and hydropower. This rise in demand will drive the thyristor market during the forecast period.
Global Thyristor Market 2016-2020 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global thyristor market for 2016-2020. To calculate the market size, the report considers revenue generated from the following applications of thyristors: Industrial electronics, Consumer electronics, and Communications and Automotive electronics.
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SOURCE Sandler Research