ID: MRFR/SEM/7173-HCR | February 2021 | Region: Global | 111 pages
The Global Solid State Relay Market was valued at USD 1.09 Billion in 2018 and is expected to reach USD 1.78 Billion by the end of the forecast period with a compound annual growth rate (CAGR) of 7.23%.
Solid-state relays are designed to switch both AC or DC currents by using a silicon controlled rectifier (SCR), triode for alternating current (TRIAC), or switching transistor output instead of the usual mechanical normally-open (NO) contacts. These relays are ideal for a wide range of switching applications since they have no moving parts, no contact failures, and generate little or negligible noise. The adoption of solid-state relays has largely been witnessed in home electronics, industrial machinery, medical equipment, communication equipment, and transportation. Advancement in automation across industry verticals is one of the major factors attributing to the growth of the global solid-state relays market. In addition to this, long operating life and less maintenance of solid-state relays have encouraged manufacturers to replace electromechanical relays with solid-state relays. However, demand for heat sinks to manage thermal load and the differences in quality standards across regions is expected to hamper the growth of the global market.
The Global Solid State Relay Market has been segmented on the basis of Mounting Type, Output Voltage, Current Rating, Application, and Region.
By mounting type, the global solid state relay market has been segmented into panel mount, PCB mount, DIN rail mount, and others.
Based on output voltage, the global solid state relay market has been segmented into AC solid state relay, DC solid state relay, and AC/DC solid state relay.
On the basis of current rating, the market has been segmented into low (0–20A), medium (20A–50A), and high (50A & Above).
Based on application, the market has been segmented into industrial automation, building equipment, industrial OEM, energy & infrastructure, automotive & transportation, medical devices, food & beverages, and others.
By region, the global market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America.
The global market for solid-state relays is estimated to grow at a significant rate during the forecast period from 2019 to 2025. The geographic analysis of the solid-state relay market has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. As per MRFR analysis, the North American region dominated the global solid state relay market in 2018. The market has witnessed a strong presence of automotive, food & beverages, building equipment, and manufacturing industries. This has increased the demand for solid-state relays for use in various industrial process control applications. On the other hand, the Asia-Pacific region is expected to witness the fastest growth in the solid-state relay market during the forecast period. Increasing automation and industrialization in China, Japan, India, and South Korea has attributed to the growth of the global solid state relay market.
Global Solid State Relay Market, USD Billion
Source: MRFR Analysis
The manufacturers in the global solid state relay market are primarily focused on improving their portfolio of solid-state relays to stay competitive in the market. To accomplish this, these companies have invested a significant share of their revenues in research & development of their products. Rising demand to manage thermal dissipation from machines has encouraged manufacturers to develop solid-state relays to prevent the machines from heating. Also, the need for miniaturization of devices has encouraged the manufacturers to research on minimizing the size of PCBs and therefore, stay abreast in the market. As a part of their market development strategy, the companies also focus on inorganic growth approaches such as acquisitions, partnerships, joint ventures, and collaborations to expand their geographic presence and gain a competitive advantage in the global solid state relay market.
MRFR has identified a few companies as prominent players in the Global Solid State Relay Market. These include 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). These companies are analyzed on the basis of their geographic presence, origin, product portfolio, key developments, and expertise in laser projection technology. Apart from the aforementioned players, 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) too have a significant presence in the global solid state relay market.
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.