Solid State Relay Market : Technology Advancements, Industry Insights, Trends And Forecast 2033

Posted by Amruta Pritam on May 7th, 2024

Overview and Scope

Solid-state relays are semiconductors similar to electromechanical relays that can manage electrical loads without the use of moving parts. This relay has no moving parts and instead performs input-to-output isolation and switching operations by utilizing the electrical and optical features of solid-state semiconductors.

Sizing and Forecast

The solid state relay market size has grown strongly in recent years. It will grow from .35  billion in 2023 to .47  billion in 2024 at a compound annual growth rate (CAGR) of 8.2%.  The  growth in the historic period can be attributed to increasing demand for energy-efficient solutions, growing automation and industrialization, enhanced reliability and longevity, temperature and vibration resistance, wide operating voltage range, automotive and transportation sector..

The solid state relay market size is expected to see strong growth in the next few years. It will grow to .96  billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.  The growth in the forecast period can be attributed to renewable energy integration, electrification of vehicles, increasing in medical equipment applications, telecommunications infrastructure, data center applications, smart grid implementation.. Major trends in the forecast period include advancements in semiconductor technology, digital ssrs and intelligent control, high reliability and long lifecycle, integration of fault detection and diagnostics..

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Segmentation & Regional Insights

The solid state relay market covered in this report is segmented –

1) By Mounting Type: Panel, PCB, DIN Rail, Other Mounting Types (Plug-in)

2) By Output: AC SSR, DC SSR, AC/DC Output SSR

3) By Power Rating: Low(0-20A), Medium(20A-50A), High(>50A)

4) By Industry: Energy And Infrastructure, Industrial OEM, Building Equipments, Food And Beverages, Automotive And Transportation, Industrial Automation

Asia-Pacific was the largest region in the solid state relay market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the solid state relay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rise in demand for electric vehicles (EVs) is expected to propel the solid-state relay market. Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries. It operates on electric motors and charges its batteries with electricity rather than utilizing fossil fuels such as gasoline or diesel. Solid-state relays offer longer operating lives than mechanical relays while at the same time offering higher battery isolation capability in EVs. These adoptions lead to increased demand for EVs and hybrid vehicles, a change from petroleum products to more sustainable power vehicles. For instance, according to the May 2022 report published by the International Energy Agency, a Paris-based autonomous intergovernmental organization, the Global EV Outlook 2022 report, global electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 will have reached 6600000 units from 2980000 units. Therefore, increased demand for electric vehicles drives the solid-state relay market.

Key Industry Players

Major companies operating in the solid state relay market report are Crydom Inc., Omron Corporation, Carlo Gavazzi Holding AG, Vishay Intertechnology Inc., Omega Engineering, Rockwell Automation Inc., ABB Ltd., Alstom SA, Sensata Technologies Holding CO U.S. B.V., General Electric Company, Fujitsu Limited, Teledyne Relays  Inc., Broadcom Inc., Eaton Corporation, TE Connectivity, Avago Technologies Ltd., Celduc Relais, Infineon Technologies, IXYS Corporation, Panasonic Corporation, Sharp Electronics Corporation, Durex Industries, Crouzet Automatismes SAS, AC/DC Electronics Inc., Advanced Energy Industries Inc., Amphenol Borisch GmbH, HONGFA Technology Co. Ltd., Artesyn Embedded Technologies, Axicom Technology Co. Ltd., Bourns Inc.

The solid state relay market report table of contents includes:

1. Executive Summary

2. Market Characteristics

3. Market Trends And Strategies

4. Impact Of COVID-19

5. Market Size And Growth

6. Segmentation

7. Regional And Country Analysis

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27. Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

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