Solid State Relay Market Size, Share, Analysis, Trends, Growth, Forecasts 2032

Solid State Relay Market Industry Prospective

According to the report published by Zion Market Research, the global Solid State Relay Market size was valued at USD 1340.43 Million in 2023 and is predicted to reach USD 2402.83 Million by the end of 2032. The market is expected to grow with a CAGR of 6.7% during the forecast period. The report analyzes the global Solid State Relay Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Solid State Relay industry.

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Global Solid State Relay Market: Overview

Solid state relay is the semiconductor equivalent of electromechanical relay that allows controlling high current AC loads from DC control circuitry of lower voltage. For the output, no power supply is needed and they are on/off remotely controlled switches & have complete galvanic isolation from input to output. A solid state material with better features is used to compose a solid state relay that serves much better than the typical relays.

Global Solid State Relay Market: Growth Factors

The global solid state relay market is growing at a healthy rate. The growing use of relay in hybrid as well as electric vehicles, increase in the application of solid state relay in industrial process control, and heavy investment for installation of smart meters are the key factors that are primarily boosting the growth of the global market. Further, solid state relays offer a wide range of advantages over electromechanical relay which includes Stable contact resistance over life, Insensitivity to stray EMF, shock & vibration, High reliability with long operational life, high input sensitivity, fast response time, compact solution, no contact bounce, and silent operation. Additionally, different features of solid state relay such as no mechanical elements in the solid-state relay, zero-crossing technology, and very low voltage rise have led to its adoption for numerous applications such as programmable logic controllers, thermostats, industrial automation, instrumentation systems, automatic test equipment, and many more.

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All these factors are fueling the growth of the global solid state relay market. Moreover, the rapidly growing semiconductor and electronics industry is also fostering the growth of the global market. Furthermore, rapid adoption of solid state relay in industrial OEM and building equipment may create numerous opportunities for the growth of the global solid state relay market over the forecast period. However, the high cost of solid state relay and strict regulations associated with its use may impede the growth of the global solid state relay market.

The global solid state relay market has experienced a negative impact on growth during the pandemic period. Strict rules of complete lockdown and restrictions on the movement led to disruption in the global economy and businesses. The demand from end-users of solid state relays declined massively owing to a temporary halt in the manufacturing units in the pandemic period. Additionally, the change in consumer behavior affected the purchase of electronic devices. All such factors in addition to disruption in the supply chain slowed down the growth of the market. However, the businesses gaining momentum during the post-pandemic period will lead to steady growth of the market.

Solid State Relay Market: Report Scope

Global Solid State Relay Market: Segmentation

The global solid state relay market is split into the current rating, output voltage, mounting type, application, and region.

Based on the current rating, the global solid state relay market is bifurcated into 0A–20A (Low), 20A–50A (Medium), and more than 50A (High).

The output voltage comprises AC/DC, DC, and AC.

Based on the mounting type, the global market is divided into DIN rail, PCB, panel, and others.

The application segment is classified into industrial automation, food & beverages, medical, automotive & transportation, energy & infrastructure, industrial OEM, and building equipment.

Global Solid State Relay Market: Regional Analysis

Among the regions, Asia Pacific is projected to hold the topmost position in the global solid state relay market during the forecast period. Factors such as rapidly growing manufacturing and food & beverage industries in developing countries and the presence of industrial automation equipment in large numbers are augmenting the growth of the global market in this region. In addition to this, the growing use of electronic equipment has led to a surge in demand for solid state relay which in turn is fostering the growth of the market in Asia Pacific region. The European market is expected to contribute a significant share owing to the growing automation industry with the emergence of hybrid & electric vehicles.

Global Solid State Relay Market: Competitive Players and Segments

Some of the dominant players that are functioning in the global solid state relay market include

• Crydom
• Broadcom
• Omega Engineering
• Vishay Intertechnology
• Carlo Gavazzi
• Omron Corporation
• Celduc Relais
• Anacon Electronic Sales
• Rockwell Automation
• and Fujitsu among others.

By current rating

• 0A–20A (Low)
• 20A–50A (Medium)
• and more than 50A (High)

By output voltage

• AC/DC
• DC
• and AC

By mounting type

• DIN rail
• PCB
• panel
• and others

By application

• Industrial automation
• Food & beverages
• Medical
• Automotive & transportation
• Energy & infrastructure
• Industrial OEM
• and building equipment

Global Solid State Relay Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.