Austin, Jan. 20, 2025 (GLOBE NEWSWIRE) -- Market Size & Growth Analysis:
The SNS Insider report indicates that,“The Solid State Relay Market Size was valued at USD 1.13 Billion in 2023 and is expected to reach USD 1.82 Billion by 2032 and grow at a CAGR of 5.51% over the forecast period 2024-2032.”
Solid State Relays Driving Efficiency and Precision in Renewable Energy, Healthcare, and Automotive Sectors
The demand for efficient and productive manufacturing has positioned solid-state relays (SSRs) as essential components in modern machinery, offering reliable and effective switching solutions. The global shift toward renewable energy has significantly boosted SSR adoption in solar inverters and wind energy systems, driven by their durability, high-speed switching, and voltage-handling capabilities. With solar power capacity expected to reach 4,500 GW and wind energy 1,700 GW by 2028, SSRs are set to play a pivotal role in these sectors. In healthcare, SSRs ensure precise control in medical instruments for patient safety, while in the automotive sector, they enhance electrical load control and vehicle performance. Compact SSRs, designed for miniaturized electronics, have further expanded their use in consumer devices and smart technologies, enabling broader market penetration.
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Dominant Market Players with their Products Listed in this Report are:
- Omron Corporation (G3NA, G3MB)
- Crydom (Sensata Technologies) (D1D, D2D)
- Panasonic Corporation (AQH3213, AQH3214)
- Siemens AG (SIRIUS 3RF, 3UG4511)
- Schneider Electric (ZB5AA3, ZB5AA1)
- TE Connectivity (DIP, EFF)
- Fujitsu Limited (FTR-B3, FTR-B4)
- IXYS Corporation (MOC3063, MOC3041)
- STMicroelectronics (MOC3063, MOC3041)
- Broadcom Inc. (H11L1, H11L2)
- Vishay Intertechnology (VO216L, VO222L)
- Mitsubishi Electric (G3F, G3S)
- NEC Corporation (PS2501-1, PS2502-1)
- Bourns, Inc. (BTS5400-1, BTS5400-2)
- NTE Electronics (NTE1505, NTE1508)
- Littelfuse, Inc. (V23080A, V23084A)
- Solid State Devices, Inc. (SDD-70, SDD-100)
- Omni Pro Electronics (RSL, RS)
- Honeywell International Inc. (DC410, DC411)
- Apcos GmbH (S82, S83).
Solid-State Relay Market Trends: Dominance of Panel Mounts, Growth in DC SSRs, and Rising Demand in Industrial Automation and Healthcare Applications
By Mounting Type
In 2023, the Panel Mount segment led the Solid-State Relay (SSR) market, capturing 42% of the total market share due to its ease of installation and reliability in industrial settings like motor control and automation. Fast-switching capabilities and energy efficiency make Panel Mount SSRs ideal for supporting the shift towards increased industrial automation.
The DIN Rail Mount segment is the fastest-growing, with a projected CAGR of 6.13%. This growth is driven by the rise of modular electrical systems and the demand for components that seamlessly integrate into smart manufacturing and Industry 4.0 environments, offering enhanced flexibility and space optimization.
By Output Voltage
In 2023, AC solid-state relays (SSRs) held the largest market share at 53%, dominating industries such as manufacturing, lighting, and HVAC systems due to their high voltage resistance, fast switching, and reliability in harsh conditions. As demand for energy-efficient solutions rises, AC SSRs are favored for their reliable performance and energy management capabilities.
the DC SSR segment is set to grow at a projected CAGR of 5.99%, driven by the increasing adoption of renewable energy, electric vehicles, and battery storage systems, offering compact designs and quick response times for electrification and sustainable energy solutions.
By Application
In 2023, the Industrial Automation segment led the Solid-State Relay (SSR) market with a 39% share, driven by the need for efficient, cost-effective automation solutions in industries. SSRs are crucial for controlling motors, sensors, and other key components in automated systems, with trends like smart factories and Industry 4.0 boosting demand.
The healthcare application segment is projected to grow fastest, with a CAGR of 6.45%, fueled by rising demand for advanced medical equipment requiring precise control and reliability, driving greater adoption of SSRs in medical devices and monitoring systems.
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Key Market Segments:
By Mounting type
- Panel mount
- DIN rail mount
- PCB mount
By Output voltage
- AC solid-state relay
- DC solid-state relay
- AC/DC solid-state relays
By Application
- Automotive and Transportation
- Food and Beverages
- Industrial Automation
- Healthcare
- Building Equipment
- Energy and Infrastructure
North America Leads SSR Market, While Asia Pacific Shows Robust Growth in Automation and Renewable Energy
In 2023, North America dominated the SSR market with 33% of the market share, driven by a strong industrial base and increased focus on automation and advanced manufacturing technologies. Companies like Omron and Rockwell Automation have heavily invested in R&D, fueling the demand for SSRs in industrial automation, energy management, and consumer electronics.
The Asia Pacific region is set to grow at a CAGR of 6.03%, driven by rapid industrialization and infrastructure investments like India’s USD 1.4 trillion National Infrastructure Pipeline. Major economies, including China and India, are advancing in smart manufacturing and renewable energy, further boosting SSR adoption for automation and energy management solutions.
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Recent Development
- March 2024, Siemens has launched the SENTRON ECPD, an innovative circuit protection device offering ultra-fast, wear-free switching up to 1,000 times faster than conventional solutions. It combines multiple functions in one device, allowing customization for enhanced safety, energy efficiency, and cost savings.
- October 2024, Vishay Intertechnology has introduced the VORA1010M4, the industry’s first 1 Form A solid-state relay with AEC-Q102 qualification and a 100 V load voltage. Packaged in the space-saving SOP-4, it offers fast 0.1 ms turn-on and turn-off times, ideal for automotive, industrial, and energy applications, including EVs, motor controls, and datacenters.
Table of Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Solid State Relay Manufacturing Output, by Region, (2020-2023)
5.2 Solid State Relay Utilization Rates, by Region, (2020-2023)
5.3 Solid State Relay Technological Adoption Rates, by Region
5.4 Solid State Relay Export/Import Data, by Region (2023)
6. Competitive Landscape
7. Solid State Relay Market Segmentation, by Mounting type
8. Solid State Relay Market Segmentation, by Output voltage
9. Solid State Relay Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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