Research Nester assesses the growth and market size of global SCR power controller market which is anticipated to be on account of the growing popularity of industry 4.0.
New York – September 06, 2023 - Research Nester’s recent market research analysis on “SCR Power Controller Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global SCR power controller market in terms of market segmentation by phase, load, control method, current rating, industry and by region.
Growing Need for Digitalized Controllers to Promote Global Market Share of SCR Power Controller
The global SCR Power Controller market is estimated to grow majorly on account of the increasing demand for digitalized controllers. This has increased the demand for SCR power controllers as they can be integrated with digital controllers to minimize the environmental impact and offer an optimized supply of power for various applications.
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Some of the major growth factors and challenges that are associated with the growth of the global SCR power controller market are:
Growth Drivers:
• Surge in Demand for Renewable Energy Sources Globally
• Rising Industrial Activities across the Globe
Challenges:
The rising concern for risks associated with cybersecurity with SCR Power Controller, and the integration challenges are some of the major factors anticipated to hamper the global market size of SCR Power Controller. As more and more industries are getting digitalized the risk of cybersecurity has increased. SCR power controllers are more vulnerable to such types of risks.
By phase, the global SCR power controller market is segmented into three phase, and single phase. The three phase segment is to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. A three-phase SCR power controller offers variable-voltage phase-angle control for a variety of applications in industrial and commercial settings. Moreover, it can be used to control the speed of AC motors and also to provide fast charging in electric vehicles. Besides this, it is also used to control power supplied to pumps and compressors in industries.
Further, based on industry the market is segmented into metals, glass, chemicals, semiconductor, textiles, and food & beverages. Out of which the glass industry is estimated to gain a robust market share. In the glass sector, SCR power controllers are used to track and manage heat processes and control the furnace's power supply, which is used to melt glass and other materials.
By region, the Europe SCR power controller market is to generate the highest revenue by the end of 2036. This growth is anticipated by growing demand for energy efficiency. Owing to Europe's large reliance on energy imports, many steps have been adopted by EU countries to increase energy efficiency. As a result, a huge demand for SCR power controllers can be witnessed in the region. For instance, The European Union pledged to increase energy efficiency, with more than 15% aim for 2020 and a target of over 32% for 2030.
Additionally, the oil and gas sector has played a key role in meeting rising energy demand for many decades, in Europe, and ongoing research is being done to find new sources of petrol and oil. Many oil and gas drilling rigs employ SCR power controllers to convert AC power from near-rig generators and also help in reducing emissions and achieving efficient power management.
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In addition, the SCR power controller market in North America is set to account for the largest share during the forecast timeframe. The growth can be attributed to the growing demand for HVAC systems in the region. In North America, there were more than 17 million unit demand for air conditioning equipment in 2022. These systems necessitate the use of SCR power controllers since they are solid-state switching devices that can control electric power quickly and with an infinite range of proportions, can give the most control over the heating process, and can significantly increase the lifespan of the heater.
Additionally, since 2014, the U.S. has seen a major uptick in investments and the growth of petrochemical capacity, and owing to the recent increase in demand for plastics and resins, the North American petrochemical industry will keep expanding. This may significantly drive the demand for SCR power controllers in the region.
This report also provides the existing competitive scenario of some of the key players of the global SCR power controller market which includes company profiling of Siemens, Honeywell International, Inc., ABB, Gefran, Chromalox, Avatar Instruments, Jumo, Solcon Industries, and others.
Access our detailed report at: https://www.researchnester.com/reports/scr-power-controller-market/5227
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