Integrated Gate-Commutated Thyristors (IGCT) in Thailand Trends and Forecast
The future of the integrated gate-commutated thyristors (IGCT) market in Thailand looks promising with opportunities in the Tmedium voltage drives, marine drives, wind power converters, dynamic voltage restorer, battery energy storage systems, traction power compensators, solid state breakers, and DC traction line boosters markets. The global integrated gate-commutated thyristors (IGCT) market is expected to grow with a CAGR of 8.0% from 2025 to 2031. The integrated gate-commutated thyristors (IGCT) market in Thailand is also forecasted to witness strong growth over the forecast period. The major drivers for this market are the high adoption of IGCT in high-power applications, high demand for HVDC transmission, and high adaption for industrial applications.
• Lucintel forecasts that, within the type category, reverse conducting IGCT is expected to witness the highest growth over the forecast period due to the high need for blocking reverse voltage.
• Within the application category, solid state breakers will remain the largest segment due to fast switching speed, compact size, and lightweight.
Emerging Trends in the Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand
The market for integrated gate-commutated thyristors (IGCT) has been expanding rapidly as a result of surging investments in renewable energy, modernization of the grid, new electric vehicles, and industrial automation. IGCTs are increasingly becoming important for power control, conversion, and grid stability across various sectors, and are also enabling advancements in the efficiency of Thailand’s energy systems, as the shift towards sustainability and economic growth occurs simultaneously in the region.
• Implementation of Renewable Energy: The growing capacity of renewable energy sources like solar and wind in Thailand makes it necessary to have IGCTs to effectively harness the power from these sources. It provides the ability to integrate the energy supply with the grid while also smoothing the power flow, which is critical for Thailand’s renewable energy integration.
• Transition to Smart Grid: Thailand is spending heavily on the development of smart grid infrastructure, which requires the use of IGCTs for improved voltage regulation and power management distribution on the smart grids. With the modernization of smart grid technologies, the use of IGCTs in Thailand’s energy system is expected to increase.
• Industrial Automation: IGCTs have been steadily increasing in popularity owing to their use in motor drives and control systems. These changes have and will continue to optimize power use while increasing operational efficiency in Thailand. Consequently, this has a direct impact on the growth of Thailand’s economy along with energy usage optimization.
• Electric Vehicle Expansion: The expansion of electric vehicle (EV) infrastructure in Thailand calls for new energy conversion systems. IGCTs are instrumental in the adoption of electric mobility by enabling fast EV charging stations and thus helping in the proliferation of the charging infrastructure industry.
• Energy Storage Systems: The increased adoption of IGCTs for energy storage systems stems from the growing need for reliable energy storage to handle unstable renewable energy supply. With IGCTs, power conversion between batteries and the grid is managed in these energy storage systems, rendering increased reliability and efficiency for Thailand.
The shifts in the IGCT market in Thailand have been brought about by the active adoption of renewable energy, smart grids, industrial automation, the active use of electric vehicles, and the creation of power storage systems. With more renewable energy sources, IGCTs will become more efficient, and in turn, sustainable and stable energy will be feasible for the country.
Recent Developments in the Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand
Thailand continuously employs new technologies, and the IGCT market remains in tandem with the country’s initiatives towards sustainability, industrial modernization, and the integration of renewable energy sources. Improvements such as this are expanding the utilization of IGCTs in power generation, grid management, and electric vehicle infrastructure development.
• Integration of Renewable Resources: Thailand has increased its capacity in renewable resources, especially solar and wind. IGCTs provide effective electricity conversion from renewables to the grid, ensuring a dependable connection to the grid while meeting the country’s renewable energy objectives.
• Smart Grid Projects: Thailand is implementing investments in smart grids that incorporate new technologies for enhanced power distribution and increased grid stability. IGCTs are used in smart grids for voltage control and power flow regulation, which increases the demand for them in the market.
• Energy Efficiency Policies: Vertical integration of energy-efficient technologies in Thailand is being carried out by using policies and incentives. In Thailand, IGCTs are mostly used in the industrial sector for power conversion efficiency (PCE) improvement to conserve energy and cut carbon emissions.
• Electric Vehicles Market Expansion: To adapt to Thailand’s expanding EV marketplace, IGCTs are being employed to facilitate effective power conversion at high-power charging stations. Along with Thailand’s efforts to build its EV charging network, IGCTs make a significant mark in the electric vehicle market sphere.
• Storage Energy Systems Development: Thailand’s progression towards balancing its renewable energy output relies on its advancements in energy storage systems. In light of Thailand’s integration of renewable energy, IGCTs play an important role in controlling the energy between the storage system and the grid.
The combination of changes in renewable energy utilization, smart grid implementation, government energy incentives, electric vehicle facilities, and energy retention systems makes the need for IGCTs in Thailand more pressing. These changes accentuate the necessity for integrated gate-commutated thyristors in the country’s transition toward clean energy.
Strategic Growth Opportunities for Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand
Various industries in Thailand may benefit from the adoption of IGCTs, as the market for Integrated Gate-Commutated Thyristors has considerable growth potential. Modernizing the region’s energy infrastructure, alongside the increased integration of smart technologies, boosts the demand for IGCTs from various innovative sectors.
• Thailand’s Renewable Energy Development: In turn, these technologies will boost the economic growth potential of Thailand, further increasing the need for IGCTs out of fostered return on investment. Such aid can also help lessen the mounting energy problems in Thailand as other Southeast Asian countries have already begun pioneering renewable energy sources.
• Smart Grid Technologies: New smart technologies will be needed to improve the management and integration of renewable energy sources into the power system, which will also increase the demand for IGCTs. Smart grid technologies encompass advanced power regulation and conversion systems, both of which IGCTs provide. This is opening up several new markets.
• Industrial Automation: The Thai industrial sector is bringing in new technologies in order to be more productive. IGCTs are used in motor drives and industrial control systems, which help in economical energy utilization and optimization of the processes that are automated.
• Electric Vehicle Charging: The deployment of electric vehicles in the country leads to an increase in the demand for IGCTs. These devices are utilized in greater power charging stations enabling faster and easier charging of electric vehicles, aiding the country’s shift towards electric vehicles.
• Energy Storage: The rising use of renewable energy sources in Thailand requires increased energy storage capacity in order to maintain energy supply stability. IGCTs serve an important purpose in managing the flow of energy in storage systems as well as with the grid. This translates to a great need for IGCTs in energy storage systems.
In Thailand, the IGCT market is being transformed by a considerable increase in the adoption of renewable energy sources, new smart technologies such as electric vehicle chargers, implementation of industrial automation, and efficient energy storage systems. These developments offer promising prospects for the adoption of IGCTs towards more balanced industrial development and an efficient energy system.
Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Driver and Challenges
Thailand is facing newer technological developments and governmental policies that have been facilitating the growth of the IGCT market. Like other sectors, Thai power electronics have performance inhibitors that govern these adoptions and growth, which are so vital for them.
The factors responsible for driving the integrated gate-commutated thyristors (IGCT) market in Thailand include:
• Increasing Demand for Renewable Sources: The enhancement of solar and wind energy throughout Thailand directly drives IGCT demand. The implementation of energy conversion, integration with the power grid, and intelligent distribution of renewable energy through the power system makes it certain that the sources rely on IGCTs.
• Expansion of Smart Grid: Investment in smart grid technology is significant in Thailand. As with most advanced technologies, smart grids cannot perform optimally without IGCTs. The reason is obvious: their primary purpose is to manage and subordinate power distribution and voltage regulation at the smart grid substations.
• Other Policies Related to Energy Efficiency: Thai government policies that promote energy efficiency with economic incentives have driven greater uptake of IGCTs. Advanced Integrated Gate-Commutated Thyristors inverters have been developed to enhance energy efficiency at multiple levels thanks to the optimization of power conversion processes.
• Industrial Growth: An overarching goal is greater efficiency achievement through increased automation expanding the industrial base. IGCTs are often used in drives and controls, which are the core of automation control of electric machines, therefore they will be in demand in these fields.
• Revival of IGCT Electric Vehicle Charger Transitions: Boosting the IGCT market for Thailand is its growing investment in smart grids, IoT, integrating automation, advanced electric vehicles, and the adoption of renewable energy. However, significant barriers such as high initial costs for equipment, complexity of integration with the existing grid structure, and regulatory risks threaten the progress.
Challenges in the integrated gate-commutated thyristors (IGCT) market in Thailand are:
• Developing Electric Charger Infrastructure Systems: In Thailand, where electric vehicles are gaining traction, there is an increased need for IGCTs. In Thailand’s EV infrastructure, IGCTs are a part of the high-power EV charging stations as they assist power conversion for the facility.
• Absence of Acceptance Due to the Exorbitant Expense for Installation: Especially in smaller or cost-sensitive markets, the adoption of IGCTs may be hindered because of the expense involved in the upfront cost. That said, their prolonged ingrained cost-effectiveness will eventually prevail.
• Acceptance Resistance Due to the Complexity of Technology Integration: The integration of existing systems with IGCTs can be long and difficult for people without the needed understanding. In particular, those industries that lack proper infrastructure for technology may face adoption entry barriers.
• Failure of Micromanagement: Vague and fluid energy micromanagement can hold risks in the IGCT market. Policies set regarding renewable energy sources for the grid and their efficiency in the process can act counterproductively.
While the IGCT market in Thailand is spurred by obstacles such as expensive upfront charges, intricate integration of existing structures, or fluctuating policy risks, grid technology changes with the increasing adoption of energy efficiency steps, and automation in industries enable overcoming these barriers.
List of Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies, integrated gate-commutated thyristors (IGCT) companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the integrated gate-commutated thyristors (IGCT) companies profiled in this report include:
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand by Segment
The study includes a forecast for the integrated gate-commutated thyristors (IGCT) market in Thailand by type, end use industry, and application.
Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand by Type [Analysis by Value from 2019 to 2031]:
• Asymmetric IGCT
• Reverse Blocking IGCT
• Reverse Conducting IGCT
Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand by End Use [Analysis by Value from 2019 to 2031]:
• Power Transmission and Distribution
• Industrial
Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand by Application [Analysis by Value from 2019 to 2031]:
• Tmedium Voltage Drives
• Marine Drives
• Wind Power Converters
• Dynamic Voltage Restorer
• Battery Energy Storage Systems
• Traction Power Compensators
• Solid State Breakers
• DC Traction Line Boosters
Features of the Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand
Market Size Estimates: Integrated gate-commutated thyristors (IGCT) in Thailand market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends and forecasts by various segments.
Segmentation Analysis: Integrated gate-commutated thyristors (IGCT) in Thailand market size by type, end use industry, and application in terms of value ($B).
Growth Opportunities: Analysis of growth opportunities in different type, end use industry, and application for the integrated gate-commutated thyristors (IGCT) in Thailand.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the integrated gate-commutated thyristors (IGCT) in Thailand.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q.1 What are the major drivers influencing the growth of the integrated gate-commutated thyristors (IGCT) market in Thailand?
Answer: The major drivers for this market are the high adoption of IGCT in high-power applications, high demand for HVDC transmission, and high adaption for industrial applications.
Q2. What are the major segments for integrated gate-commutated thyristors (IGCT) market in Thailand?
Answer: The future of the integrated gate-commutated thyristors (IGCT) market in Thailand looks promising with opportunities in the Tmedium voltage drives, marine drives, wind power converters, dynamic voltage restorer, battery energy storage systems, traction power compensators, solid state breakers, and DC traction line boosters markets
Q3. Which integrated gate-commutated thyristors (IGCT) market in Thailand segment will be the largest in future?
Answer: Lucintel forecasts that reverse conducting IGCT is expected to witness the highest growth over the forecast period due to the high need for blocking reverse voltage.
Q4. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 10 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the integrated gate-commutated thyristors (IGCT) market in Thailand by type (asymmetric IGCT, reverse blocking IGCT, and reverse conducting IGCT), end use industry (power transmission and distribution and industrial), and application (tmedium voltage drives, marine drives, wind power converters, dynamic voltage restorer, battery energy storage systems, traction power compensators, solid state breakers, and DC traction line boosters)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.4. What are the business risks and competitive threats in this market?
Q.5. What are the emerging trends in this market and the reasons behind them?
Q.6. What are some of the changing demands of customers in the market?
Q.7. What are the new developments in the market? Which companies are leading these developments?
Q.8. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.9. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.10. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand, Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Size, Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Growth, Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Analysis, Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Report, Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Share, Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Trends, Integrated Gate-Commutated Thyristors (IGCT) Market in Thailand Forecast, Integrated Gate-Commutated Thyristors (IGCT) Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.