Global Solid State Relay Market Size By Mounting Type (Panel Mount, PCB Mount, DIN Rail Mount), By Applications (Building Equipment, Energy and Infrastructure, Industrial Automation), By Geographic Scope And Forecast

Solid State Relay Market Size And Forecast

Solid State Relay Market size was valued at USD 1.44 Billion in 2023 and is projected to reach USD 2.08 Billion by 2030, growing at a CAGR of 4.74% from 2024-2030.

The demand for small-size, accurate, low-cost, long self-life and bounce-less operation protective systems have increased over the last decade in automotive, industrial, energy and infrastructure, building equipment, and healthcare. Increased demand to promote the power infrastructure in developed nations to decrease heat generation through thermal dissipation with solid-state relays is anticipated to drive the solid state relay market. The Global Solid State Relay Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Solid State Relay Market Drivers

The market drivers for the Solid State Relay Market can be influenced by various factors. These may include

• Industrial AutomationOne important factor is the growing use of SSRs in applications related to industrial automation. SSRs are superior to conventional electromechanical relays in that they have a longer lifespan, higher reliability, and faster switching speeds. The need for SSRs is increasing as industries automate procedures to increase productivity and accuracy.
• Energy EfficiencyCompared to electromechanical relays, SSRs have lower power consumption and heat dissipation, which helps to improve energy efficiency. Industries are rapidly substituting SSRs for traditional relays in order to save energy costs and environmental effect, in line with the global focus on sustainability and energy saving.
• Growth in Renewable EnergyThe demand for SSRs is driven by the growth of renewable energy sources like wind and solar power generation. SSRs are used to efficiently switch high-voltage and high-current loads in inverters and power control systems for renewable energy applications.
• Automotive SectorSSRs are used in hybrid cars, electric cars, and automotive electronics for tasks like power distribution, motor control, and battery management. An expanding market for SSRs is presented by the automotive sector because to the increased popularity of electric and hybrid vehicles.
• Consumer ElectronicsSSRs are finding more and more use in consumer electronics for functions including temperature control, power management, and audio amplification. The market for SSRs in this industry is driven by the rising need for electronic devices with increased efficiency, dependability, and compactness.
• Medical EquipmentSSRs are essential parts of medical equipment, including imaging, patient monitoring, and diagnostic instruments. SSRs are in high demand in the medical industry because of their dependability, quick switching speed, and noiseless operation, which make them ideal for important medical applications.
• HVAC and Building AutomationSSRs are used for temperature control, lighting control, and motor control in HVAC (heating, ventilation, and air conditioning) systems and building automation. SSRs are becoming more and more necessary in HVAC and building automation systems as buildings get smarter and more energy-efficient.
• SSRs are used in telecommunications equipment to manage power and perform switching tasks. There are potential for SSRs in this industry due to the growth of telecommunications networks, especially the development of 5G infrastructure.
• Aerospace and DefenceSSRs are employed in military equipment, spaceships, and aeroplanes for power distribution and switching purposes. The need for premium SSRs is driven by these applications’ strict reliability and performance requirements.
• Technological AdvancementsBy broadening the range of applications and enhancing performance characteristics, ongoing technological advancements such as the development of SSRs with higher power handling capabilities, improved thermal management, and enhanced integration with control systems, further propel market growth.

Global Solid State Relay Market Restraints

Several factors can act as restraints or challenges for the Solid State Relay Market. These may include

• Expensive Initial CostCompared to electromechanical relays, SSRs may be more expensive initially, which may put off buyers who are price conscious, especially in sectors with narrow profit margins.
• Limited Load CapacityThe greatest load that conventional SSRs can manage may be limited, which may prevent them from being used in applications that demand high power handling.
• Problems with Heat DissipationSSRs produce heat while they work, and if this heat is not adequately controlled, it may shorten their lifespan and performance. It might be necessary to have sufficient cooling and heat sinking devices, which would increase the system’s complexity and expense.
• Limitations on Voltage and CurrentSSRs may only be able to switch a limited range of voltages and currents with reliability, which may limit their use in some commercial or industrial applications.
• Compatibility IssuesIt can be difficult to guarantee SSRs and the devices they are controlling are compatible, particularly in complex systems. This includes making sure appropriate isolation and protection against electrical noise are in place.
• Durability and dependabilitySSRs are not impervious to failure, although they do often have longer lifespans and greater dependability than electromechanical relays. Their dependability and durability may be impacted by problems such voltage spikes, insulation failure, and heat cycling.
• Regulatory ComplianceIn order to employ SSRs in specific applications or industries, compliance with regulatory norms and certifications, such as UL (Underwriters Laboratories) certification, may be required. Developing and deploying products may take longer and cost more money if these standards are met.
• Perception and EducationCompared to traditional relays, SSR technology may not be well-known to some potential users, or they may have false beliefs about its dependability and performance. It might take education and awareness campaigns to get beyond these obstacles.

Global Solid State Relay Market Segmentation Analysis

The Global Solid State Relay Market is segmented on the basis of Mounting Type, Applications, And Geography.

Solid State Relay Market, By Mounting Type

• Panel Mount
• PCB Mount
• DIN Rail Mount

Based on Mounting Type, The market is bifurcated into Panel Mount, PCB Mount, and DIN Rail Mount. PCB Mount accounted for the significant market share in the Solid State Relay market. The PCB mount SSR is mounted on a printed circuit board utilizing surface mount technology. They are used in various applications such as professional food equipment, laboratory ovens, etc. Their demand is constantly increasing owing to the need for compactness and ease of transportation.

Solid State Relay Market, By Applications

• Building Equipment
• Energy and Infrastructure
• Industrial Automation
• Automotive & Transportation
• Others

Based on Applications, The market is bifurcated into Building Equipment, Energy and Infrastructure, Industrial Automation, Automotive & Transportation, and Others. The Automotive & Transportation segment held the largest market share over the forecasted period, as it offers a wide range of applications in automobiles, such as hybrid electric vehicles, battery electric vehicles, commercial trucks, charging stations, and even combustion engine vehicles. This market is projected to grow at the fastest pace over the forecast period.

 Solid State Relay Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

The Global Solid State Relay Market is segmented on the basis of geography into North America, Europe, Asia Pacific, Rest of the World. Asia Pacific accounted for the largest market in the global Solid State Relay market in 2021. The increasing demand for solid-state relays in transportation and automotive industry in countries such as India and China is the major driver of the development of the market in this region. The energy consumption in such countries is constantly growing in healthcare, manufacturing and other industrial applications, thus boosting the growth of solid-state relays market. Although the industrial sector is rising in this region, the global demand, due to the growing population, dominates the production capabilities.

Key Players

The “Global Solid State Relay Market” study report offers a valuable insight with an emphasis on the global market including some of the major players such as Omron, Carlo Gavazzi, Omega Engineering, Rockwell Automation, Vishay, Celduc Relais, IXYS, Fujitsu, Avago Technologies, Crydom, Broadcom, Phoenix Contact, Schneider Electric, TE Connectivity, Littelfuse, Panasonic, STMicroelectronics, Teledyne Relays, Toshiba.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2021, Solid State has acquired Willow Technologies, a manufacturer and value-added distributor of electromechanical products. The acquisition complements Solid State’s existing value-added distribution activity, adding the Durakool range of own-brand electromechanical relays and contactors
• In July 2021, Infineon Technologies partnered with California-based Amber Solutions to commercialize solid-state technology to digitize electricity control in silicon with embedded intelligence.
• In February 2020, Celduc Relais launched a new range of two-phase solid-state relays in okpac housing with push-in spring power terminals.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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