Wilmington, Delaware, United States, March 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc, The global solid state relays market stood at US$ 1.3 Bn in 2022 and is projected to reach US$ 2.3 Bn by 2031, expanding at a CAGR of 6.3% between 2023 and 2031. Rise in sales of electric vehicles globally and higher demand for energy-efficient and dependable switching devices are likely to drive global solid state relays business growth. Increase in demand for industrial automation in a number of industries, such as utility, food & beverage, automotive, and energy, is expected to propel market demand for solid state relays.
Usage of solid state relays is further fueled by the trend toward downsizing and requirement for a faster pace of switching. Asia Pacific is likely to account for leading market share from 2023 to 2031. Rapid industrialization and surge in usage of high-end electronic gadgets are likely to present lucrative business opportunities in the solid state relays market in Asia Pacific. Manufacturers are engaging in extensive research and development activities in order to produce various kinds of solid state relays that meet the changing demands of consumers. This entails the creation of more compact and smaller designs, faster switching, and higher energy efficiency. Furthermore, solid state relay producers are investing considerable resources into enhancing the quality and dependability of their offerings through stringent testing and quality control systems. This reduces the possibility of malfunction and downtime for clients, which is anticipated to drive market development.
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Solid state relays (SSRs) are superior to conventional relays in a number of ways, notably in durability, switching speeds, and dependability. Additionally, they produce less electromagnetic interference (EMI) and are more resistant to damage from vibration and shock. SSRs are often employed in process control, robotics, and industrial automation applications where fast switching rates and extended life are critical. Moreover, they are utilized in coffee makers, electric vehicles, refrigerators, vending machines, and ovens, as well as material handling and railway control equipment.
An increase in demand for energy-efficient and dependable switching devices and rise in demand for SSRs in industrial automation are anticipated to propel the global solid-state relays market between 2023 and 2021. SSRs are replacing conventional electromechanical relays as the preferred solution in automation equipment, such as industrial motor blowers, big manufacturing lines, and others. This is due to the fact that they have a prolonged lifespan and include no moving components. Usage of SSRs in industrial process control applications, including transformers, temperature control, solenoids, lights, motors, and valves, is also rising.
Key Findings of Market Report
- Usually, a PCB mount SSR has low power consumption, a small footprint, and stable performance, making it ideal for applications in various industries, including power electronics, robotics, and automation. Solid state relays for PCB mounting are utilized for different applications, including HVAC and appliance controls, vending machines, lighting, and motor switching. In comparison to traditional electromechanical relays, it has a longer lifespan, is smaller in size, and has no moving components. As a result, producers are widely adopting PCB mount solid state relays in applications, such as gaming, smart homes, battery-powered devices, building automation, and instrumentation.
- Based on output voltage, the DC segment accounted for 37% market share in 2022 due to simple design, fast switching speed, and affordability. Electric heaters with high power as well as low power lamps can utilize DC solid state relays. Small input can control considerably larger output signals using DC solid state relays, allowing for a wide range of applications spanning large industrial motors, temperature control, small consumer electronics products, automotive circuits for electric vehicles, and medical equipment.
- The telecom sector is rapidly moving toward the worldwide rollout of 5G services, which is anticipated to fuel demand for DC solid state relays, as communication equipment requires rapid and dependable switching of high current and voltage.
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Global Solid State Relays Market: Growth Drivers
- Manufacturers are focusing on usage of automation in several industries as a result of the adoption of Industry 4.0 globally. Industrial automation has been extensively used in material handling equipment, conveyor systems, as well as other applications in the past few years. This is one of the key factors driving the global solid state relays market.
- Better knowledge and awareness about the detrimental environmental effects of fossil fuel-powered automobiles and advancements in battery technology are likely to propel market demand for electric vehicles (EVs). As IC engines are a significant source of carbon emissions that contribute to global warming, electric vehicles are crucial in the effort to become carbon neutral. Moreover, governments across the globe are introducing policies to promote the usage of EVs. For instance, a number of countries provide tax benefits and subsidies for EV owners as well as funding for EV charging stations.
Global Solid State Relays Market: Regional Landscape
- Asia Pacific accounted for 36% share of the global market in 2022. This is ascribed to the industrial sector's widespread adoption of automation systems. Automation is becoming more popular among manufacturers as a superior technical substitute for human labor. Moreover, presence of large number of companies in the region is another factor fueling the expansion of the solid-state relays market in Asia Pacific.
Global Solid State Relays Market: Key Players
Key players in the global solid state relays market are:
- Texas Instruments Incorporated
- Anacon Electronic Sales, Inc.
- NOVUS Automation Inc.
- Vishay Intertechnology, Inc.
- Solid State PLC
- Sensata Technologies, Inc.
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Global Solid State Relays Market: Segmentation
Mounting Type
- Panel Mount
- PCB Mount
- Din Rail Mount
- Plug-in
Output Voltage
- AC
- DC
- AC/DC
Current Rating
- Up to 20 A
- 21 to 50 A
- 51 to 100 A
- Above 100 A
End-use Industry
- Industrial Automation
- Food & Beverage
- Automotive & Transportation
- Energy & Utility
- Healthcare
- Chemical
- IT & Telecommunication
- Building & Construction
- Others (Oil & gas, Metal & Mining, etc.)
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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