Solid State Relay Market Research Report - Global Forecast till 2030

Solid State Relay Market Research Report - Global Forecast till 2030

ID: MRFR/SEM/7173-HCR | March 2023 | Region: Global | 111 pages

Impact of COVID-19 on the Solid-State Relays Market

The COVID-19 virus originated in China and is spreading across the globe. The pandemic has affected various industries, both positively and negatively. The healthcare sector has grown exponentially during the pandemic crisis; however, the manufacturing industry has been adversely affected. The health and safety of people have become the topmost priorities, for which governments of most countries have imposed nationwide lockdowns. According to MRF analysis, sales in China have dropped down by more than 20% during the first quarter of 2020. The spread of the coronavirus has halted the manufacturing sector. The exports of raw materials from China to other emerging countries have also stopped been affected. Solid-state relays are widely adopted in the manufacture of industrial machinery, home electronics, transportation, and medical and communications equipment. However, the COVID-19 pandemic has drastically hampered production in the consumer electronics and machinery industries.

Companies are investing heavily in the R&D of advanced solid-state relays. For instance, in November 2019, Sensata Technologies announced the release of two new 3-phase DIN-rail and panel-mount solid-state relays. The PM67 and DR67 relays are VDE, UL, and CE certified for global use in applications such as HVAC & R, pump controls, plastic injection, industrial ovens, molding, and packaging and food processing equipment. North America dominated the global solid-state relays market. It is expected to continue its domination over the forecast period owing to the presence of the food & beverage, automotive, building equipment, and manufacturing industries in the region. Post-lockdown, the new product launches are expected to boost the demand for solid-state relays in various industries.

COVID 19 Impact Solid State Relays Market Share

Impact Analysis
COVID 19 Impact Solid State Relays Market Outlook