ID: MRFR/SEM/7173-HCR | February 2021 | Region: Global | 111 pages
The Solid State Relay Market was valued at USD 1.09 Billion in 2018 and is expected to reach USD 1.78 Billion by 2025 with a compound annual growth rate (CAGR) of 7.23%. Solid state relays were considered as the electronic devices which are used in switching the power supply to the electrical equipment. The solid-state relays consist of sensors that help in efficiently allocating the high voltage electrical signal or turning off the switch appropriately. The sensors in the relay help in the automated functioning of the relay and prevent electrical short circuits. Other potential advantages of the Solid-state relays include lower maintenance, a simpler design which means low costs incurred in manufacturing the solid-state relays, a longer lifetime, producing very minimal noise, and so on. The increasing end-user applications are also impacting the overall growth of the Solid State Relay industry.
On the other hand, the manufacturers of the Solid State relays are adopting higher quality wiring which is capable of delivering higher amperage that is required for some applications. The higher quality wiring helps in eliminating the issues like melting of wires and other issues. Such factors are also presenting opportunities for the overall growth of the Solid State Relays industry.
COVID 19 Analysis:
The significant decline of the market value for the automotive, as the demand for the transportation and other industrial sectors, have lost their priority during the pandemic, which has significantly affected the Solid State Relay market demand. On the other side, food, beverages, packaging, have been utilizing industrial automation during the pandemic due to growing demand during the pandemic, which has propelled the Solid State relay market growth.
However, the manufacturing of key components used in the Solid State Relays such as optocouplers which are manufactured in the United States was blocked and have not been able to reach other parts of the world due to the interruptions in the logistics. The key raw materials required for the manufacturing of the Solid State Relays were primarily manufactured in China which has reduced their overall production rate due to COVID-19. These are all some factors that hindered the Solid State Relay market growth.
The potential advantages of the Solid-state relays over other types, which includes higher lifetime and minimal maintenance, simpler designs as there are no coils, efficient control of vibration as they are insensitive to the vibration, the compact design have attracted several end-user industries in deploying the Solid-state relays in their applications.
The manufacturers of Solid-state relays are incorporating organic and inorganic strategies to promote the overall growth of the Solid-state relays industry by developing the product design, infrastructure, creating acquisitions, strengthening their offerings, and so on. Such factors are increasing the Solid State Relay market growth.
The advancement in the semiconductor industries in the Asia-pacific region and increasing consumer base for the electronic devices are presenting lucrative opportunities for Solid State Relay market growth.
The increasing adoption of automated technologies and industrial robots in the industrial processes are propelling the solid-state relay market demand since solid-state relays are intensively used in such applications.
The requirement of heat sinks in the structure of the Solid State Relays is complicating the overall structure of the Solid State Relays and thereby hinders the overall Solid-state relays market growth.
The major drawbacks of the solid-state relays are hindering the solid state relay market growth which includes, costs incurred in manufacturing the solid-state relays are higher due to the complex structure comparatively. Additionally, the loss of heat generated during the ON mode is equivalent to the voltage drop.
The manufacturers of Solid-State relays have to comply with the regulations imposed by the associations working in the respective countries. For instance, the association for Electrical and Electronics in Europe named, VDE has imposed regulations on the manufacturers of electrical equipment to ensure the safety and efficiency of their products. On the other side, UL certification must be acquired by the manufacturers of SSR in Canada which features the instances such as fire incidents, casualty, and performance in a specific environment to make sure they perform well in varied applications. The stringent regulations imposed by such associations are hindering the overall growth of the Solid State Relay industry.
The heat dissipation and power dissipation issues associated with the SSR installation are hindering the overall growth of the Solid State Relays industry. The heat dissipation is based on the amount of surface area provided for the installation of the Solid State Relays.
The increasing demand for consumer electronics which include, beverage dispensing machines, AC, microwaves, refrigerators, and the changing attitude of the customer towards easy-to-use, smart technologies are propelling the Solid State Relay market demand. Since the electrical appliances require protection against electrical surges, the SSRs are utilized in such electrical appliances.
The market value for the Solid State Relay industry was at USD 1.09 billion in the year 2018 and is expected to surpass USD 1.78 billion by the year 2025 while registering a CAGR of 7.23%. In the automotive industry, the solid-state relays are intensively used to serve in varied, harsh environmental conditions. The automotive solid-state relays are designed with specialized plug-ins so that they are not replaced with electromechanical types. The Solid State relays can withstand extreme conditions, protect against vibration, overloads, reverse battery, and other issues. Therefore the development and increasing investment in the automotive industry highly influence the overall growth of the Solid State Relay industry.
Solid State Relays are considered as the fast and reliable switching devices which can be used in equipment that requires high current and is flexible to mount on a metal plate. The advent of flexible control options with LED input indicators is driving the Solid State Relay market demand. The role of Solid-State relay in automated control equipment which is connected to crucial industrial procedures where switches play important role in the production and other applications like industrial automation, building equipment, medical imaging devices are further driving the Solid State Relay industry.
The rising demand for industrial robots and material handling equipment that operates efficiently without human error, while increasing the production rates are considered as the primary growth-stimulating factor for the Solid State Relay industry. On the other hand, the miniature sensors embedded into the solid-state relays help in reducing/preventing the electric shock risks while handling the high voltage loads. Such potential advantages of Solid-State relays are propelling the industrial units to deploy the Solid State Relays for the electrical equipment in their industries.
Based on Mounting Type:
Based on Output Voltage:
Based on Current Rating:
Based on Application:
The Asia-pacific region is considered as the electronic hub owing to the huge number of electronic devices is getting manufactured in the Asia-pacific region. Countries such as China, India, Japan, South Korea, Taiwan are rising their demand for electronic devices owing to the increasing consumer base in these regions. Additionally, the leading manufacturers of electronic devices and pieces of equipment such as Samsung, SK Hynix, Toshiba are considered as the primary driving factor in the overall growth of the Solid State Relays industry. The growth of the Solid State Replay industry is highly influenced by the growth of the consumer electronics industry.
On the other hand, the other major end-user applications such as automotive, food and beverage, building equipment, industrial automation, manufacturing industries are also driving the Solid State Relay market. Several leading market players in North America are expanding their business related to the automotive, food packaging, and beverages and overall the industries are turning into automated as they have intended to increase the production, post-pandemic. Such factors in North America are presenting lucrative opportunities for Solid State Relays market growth.
One of the leading market players, Vishay Intertechnology who is known for the production of resistive foils and related technology has announced an annual investment of approximately over 3% in R&D and has recently adopted the strategies of product launches.
In the year 2019, Carlo Gavazzi has launched the RGC3 48 series which is compatible with panel mounting and Through-wall mounting and integrated with natural convection heat sink which eliminates the requirement of additional supply voltage for the device. Additionally, the company has recently announced the increase of investment in R&D with about 5.9% in the year 2019 and therefore the company has been delivering product launches in recent times.
This Report Has Covered:
|Market Size||USD 1.78 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Mounting Type, Output Voltage, Current Rating, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Omron Corporation (Japan), Fujitsu Limited (Japan), Rockwell Automation, Inc. (US), Teledyne Relays, Inc. (US), ABB Ltd (Switzerland), General Electric (US), Avago Technologies, Ltd (US), Omega Engineering Inc. (US), Crydom Inc. (US), Celduc Relais (France), Infineon Technologies AG (Germany), Carlo Gavazzi Holding AG (Switzerland), Vishay Intertechnology (Siliconix) (US), Fairchild Semiconductor (US), and STMicroelectronics (Switzerland), Texas Instruments Incorporated (US), Linear Technology (US), Ametek (US), Eaton (Ireland), Broadcom Ltd (US), Arico Technology (Taiwan), Ixys Integrated Circuits Division (US), and TE Connectivity (Switzerland)|
|Key Market Opportunities||Long operating life and less maintenance of solid-state relays have encouraged manufacturers to replace electromechanical relays with solid-state relays.|
|Key Market Drivers||Advancement in automation across industry verticals.|
Frequently Asked Questions (FAQ) :
The factor of advancement in automation across industry verticals is the major one accrediting to the development of the global solid-state relays market.
The demand for heat sinks to manage thermal load and the differences in quality standards are impeding the growth of the global market during its progression period.
Mounting Type, Output Voltage, Current Rating, Application are the segments included in the study of the market’s segmental analysis.
global market for solid-state relays will be growing period from 2020 to 2027.
The Asia-Pacific region is going to witness the fastest growth in the solid-state relay market in the coming years.