Global SCR Power Controller Market Poised to Reach $274.4 Mn by 2034, Driven by Renewable Energy Expansion

Increased Renewable energy projects and Innovations in the integration of SCR controllers are set to drive significant growth in the SCR Power Controller Market, States Fact.MR

The global SCR power controller market is set to reach a valuation of US$ 178.8 Mn in 2024 and further expand at a CAGR of 4.4% to end up at US$ 274.4 Mn by 2034.

With the growth in renewable energy projects and new technological developments, the SCR power controller market is gaining momentum. growing demand for renewable sources, such as solar and wind, accelerates the need for critically controlled power systems. The SCR controllers are designed to hold voltage and current accurately so that renewable energies work with stability and efficiency, ensuring global sustainability.

SCR power controllers are capable of excelling in very precise power management and voltage regulation two of the very important parameters that have to work critically for stabilizing variable outputs from renewable energy resources. Their adaptability, efficiency, and integration capabilities make them essential for modern energy and industrial applications.

According to the International Energy Agency, rapid growth in renewable energy will drive robust demand for SCR power controllers since both are important technologies in controls that manage and optimize growing renewable energy output.

• 2024: SCR controllers will become critical to the balancing of electricity generation from wind and solar PV as they overtake conventional generation from hydropower.
• 2025: Growing Demand for SCR Controllers—As Renewables Surpass Coal, Power Needs to Be Managed Accurately.
• 2026: Wind and solar PV will outcompete nuclear energy; SCR controllers to be called for stabilizing renewable power grids.
• 2028: Renewables at over 42 percent of global electricity, SCR controllers playing a very critical role in grid stability and efficiency.

The values are further enhanced by technological advancements in the integration of SCR controllers with IoT and smart grid technologies. This provides seamless connectivity options, predictive maintenance, and optimization of energy consumption, thereby increasing productivity and reliability in industrial processes and finding a place for companies to meet future demands regarding smart energy solutions.

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Key Takeaways from the Market Study:

• The global SCR power controller market is projected to grow at 4.3% CAGR and reach US$ 274.4 billion by 2034
• The market created an opportunity of US$ 20.7 million growing at a CAGR of 3.2% between 2019 to 2023
• North America is a prominent region that is estimated to hold a market share of 31.3% in 2034
• HVAC and Building Systems under the industry vertical are estimated to grow at a CAGR of 4.7% between 2024 and 2034
• North America and East Asia are expected to collectively create an absolute $ opportunity of US$ 56.1 million.

“Integration with smart grid and micro grid systems and Expansion in electric vehicle charging infrastructure will drive the Market opportunity for SCR power controller market,” says a Fact.MR analyst.

Leading Players Driving Innovation in the SCR Power Controller Market:

ABB Ltd.; Advanced Energy Industries, Inc.; Chromalox (Spirax Group plc); Fuji Electric; Gefran; Honeywell International Inc.; Maxwell Technologies ; Omron Automation Pvt. Ltd.; Schneider Electric ; Spang Power Electronics; Other Prominent Players.

Market Growth Stratagems

Companies in the market are witnessed to have collaborative partnerships and innovative product integration. As to improve the performance and quality of their products, which can lead to increased demand and higher sales. Players are expanding their presence in emerging markets such as China and India, which are experiencing high growth rates due to the increasing demand for high-quality products in the automobile and architectural industries.

• In February 2024, ABB announced its agreement to acquire the SEAM Group, thereby expanding its portfolio of Electrification Service offerings into the realm of industrial asset management and advisory services across 3,000 customer sites in the United States. The buyout aims at meeting heightened demands for safer, more sustainable operations and is expected to close in Q3 2024.

• On August 2023—Fuji Electric Co., Ltd. announced that it will release the P633C Series 3rd-generation small IPM, an all-important module that contributes to reduced power consumption and electromagnetic noise for applications in home appliances and machine tools so that society decarbonizes with better efficiency.

SCR Power Controller Market News:

• July 2024 - Advanced Energy launched the PowerPro Dongle, adding high-power AC-DC supply capability with intelligent monitoring and digital control. The new hardware accessory provides real-time diagnostics and control, compatible with the Evergreen™ and NeoPower™ power supplies. The dongle is CANBUS and PMBus enabled, enabling easy configuration and programming via a MODBUS GUI. This innovation is focused on simplifying design cycles and enhancing integration with networked devices to eventually optimize power management for industrial and medical applications.
• On July 10, 2023 - Fuji Electric Co., Ltd. has introduced a new high-power capacity power supply (UPS) system, which adds a 2,400 kVA unit to its 7500WX Series. This solution responds to the growing requirement from data centers for power-saving solutions. The UPS boasts 98.5% power conversion efficiency, enabling lower CO2 emissions and fewer operating expenses. Its space-saving and installation time-saving design makes it suitable for hyperscale data centers and semiconductor manufacturing plants, promoting overall energy management.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the SCR power controller Market, presenting historical market data (2019-2023) and forecast statistics for the period of 2024 to 2034.

The study reveals essential insights based on the By Type (Single Phase, Three Phase.), By Load Type (Resistive, Non-Resistive.), By Supply Voltage (Low Voltage (up to 600V), Medium Voltage (600V to 35kV), High Voltage (above 35kV).), By Control Method (Phase Angle Control, Integral Cycle Switching), By Current Rating (Low Current (up to 100A), Medium Current (100A to 1000A), High Current (above 1000A)), By Industry Vertical (Industrial Manufacturing (Metal Processing, Plastic, and Rubber Manufacturing, Glass Production), HVAC and Building Systems (Electric Heating Systems, Climate Control Equipment), Food and Beverage Processing (Industrial Ovens and Dryers), Chemical Processing (Heating Elements for Reactors and Vessels), Power Generation and Distribution (Power Control in Electrical Systems), Oil & Gas, Others (Semiconductor, Automobile, Machine Building, etc.)) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).

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