Thyristor market seen rising to $2.93 billion by 2035

The global thyristor market is projected to grow from $2.11 billion in 2026 to $2.93 billion by 2035, as utilities, industrial manufacturers and transportation developers increase demand for high-power semiconductor switching. HVDC grid buildouts, industrial electrification and EV charging are the main growth drivers.

Why it matters: - Thyristors are gaining importance as power grids, factories and transportation systems shift toward higher-voltage, faster-switching electronics. - The market’s growth ties directly to renewable integration, grid reliability and electrification projects that need robust power conversion hardware. - Global power infrastructure investment is expected to exceed $2.6 trillion through 2035, increasing demand for advanced semiconductor solutions.

What happened: - The global thyristor market reached an estimated $1.93 billion in 2025. - Market Research Future projects the market will grow from $2.11 billion in 2026 to $2.93 billion by 2035. - The forecast implies a 3.73% compound annual growth rate over the period. - The report was released from Seoul, South Korea, on Aug. 14, 2026. - A sample copy of the report is available.

The details: - HVDC transmission expansion is a major growth catalyst as utilities add long-distance links for renewable energy integration. - Electrification of industrial motor drives, traction systems and EV charging infrastructure is increasing demand for high-power semiconductor switching devices. - Legacy electromechanical switching systems are being replaced by thyristor-based power control platforms using gate turn-off thyristors, integrated gate-commutated thyristors and silicon-controlled rectifier arrays. - An IHS Markit power electronics study found top-quartile industrial facilities using modern thyristor-based motor drive systems and real-time power quality monitoring cut energy consumption by 21% to 26% versus peers using older variable-speed drive architectures. - Demand is rising in HVDC converter stations, flexible AC transmission systems and static VAR compensators. - Wide-bandgap semiconductor integration and advanced packaging are shaping the next phase of product development. - Silicon carbide-based thyristor variants and hybrid SiC-silicon power modules are pushing higher switching speeds and higher-temperature operation. - Next-generation IGCT and emitter turn-off thyristor platforms are reaching switching frequencies and blocking voltages that previously required multi-device IGBT stacks. - The report segments the market by device type, voltage rating, current rating, end use and geography. - Device categories include silicon controlled rectifier, gate turn-off thyristor, integrated gate-commutated thyristor, TRIAC, DIAC and light-triggered thyristor. - Voltage ratings include below 1 kV, 1-5 kV, 5-10 kV and above 10 kV. - Current ratings include below 100 A, 100-1,000 A and above 1,000 A. - End uses include power transmission and distribution, industrial motor drives, rail traction, renewable energy converters, EV charging infrastructure and consumer and industrial electronics.

Between the lines: - The market is shifting from simple switching components to intelligent power systems with digital gate control and condition monitoring. - Vendors are competing on SiC-enhanced devices, higher voltage blocking capability and tighter integration with gate drivers and monitoring tools. - Strategic partnerships with HVDC developers, rail OEMs and renewable energy integrators are becoming a competitive advantage. - Regulatory pressure around harmonic emissions is helping drive adoption of thyristor-based active front-end rectifiers and soft-start systems. - The strongest growth opportunity appears to be in infrastructure-heavy applications where reliability, efficiency and voltage stability matter most.

What's next: - Asia-Pacific is expected to remain the largest regional market with about 42% share. - Europe is projected to hold about 28% share, supported by offshore wind interconnections and rail investment. - North America is forecast to account for about 19% of the market, driven by grid modernization and EV charging. - The Middle East and Africa are projected to post the fastest CAGR at about 8.6% through 2035. - South America is expected to see demand tied to hydroelectric transmission, mining electrification and metro rail expansion. - The report’s detailed market description is available here.