Triacs Market Comprehensive Analysis, Growth Forecast from 2021 to 2030

 

• Triac as a semiconductor device has gained traction in the past few years due to its applications in small utility electronic gadgets and motors for speed control of electric fans, light dimmers, and a number of small and major computerized household appliances. The primary reason to look at this market is the involvement of triacs in small-scale utility products, which boosts the growth of the global triacs market.
• The primary and foremost feature for the use of triacs over its competitors such as triode and SCRs is that triac is bi-directional, which is not the case for triodes and SCRs. Triac, abbreviated as Triode for Alternating Current, is not only used for alternating current (AC), but also direct current (DC).
• Triac is a three terminal solid-state power-switching device, which can be triggered in conduction by both positive and negative voltage applied to its anode and gate, making it a two-quadrant switching gate controlled device. This feature of triac has gained it various applications in the market.

Triacs Market: Dynamics

• The primary driver of the global triacs market is the cost factor associated with using one triac in place of two thyristors. Manufacturers opt for a triac in place of two thyristors to cut down cost of production. Another driver would be the increase in use of household and utility products in the market, most of which contain a triac for functioning.

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• The major challenge faced by the global triacs market is that switching in triac is not symmetrical, which leads to a number of problems such as high level of harmonics and EMI problems. These drive manufacturers to either opt for some extra circuitry or keep the triac use to certain applications.

Merger, Acquisitions, and Tie-ups to offer Significant Opportunities

• Companies are expanding product portfolios and strive to meet customer requirements. Manufacturers enter into tie-ups and collaborations for business expansion. This is expected to offer significant opportunities to new and established players in the market.
• In November 2016, Central Semiconductor Corp. announced a distribution agreement with Avnet, Inc., a technology distributor. Central Semiconductor Corp’s. product portfolio including diodes and triacs will be available for purchase by customers in North America through Avnet group.

Asia Pacific to Lead the Global Market

• The global triacs market can be segmented into five major regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
• The triacs market in North America is expected to witness strong growth during the forecast period owing to the adoption of triacs by several industries to implement household and utility products. North America is expected to be followed by Europe and Asia Pacific.
• Growth of the market in North America and Europe is attributed to the presence of small and large household and utility device manufacturers.

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• Asia Pacific is likely to be a leading market for triacs in terms of revenue during the forecast period due to the presence of a number of players and increase in applications

Key Players in the Global Market

The global triacs market was highly fragmented in 2018. Prominent players operating in the global market focus on technological developments and expansion to meet the growing demand for triacs. Moreover, manufacturers enter into partnerships for the development of innovative products and boost revenue.