Global Solid State Relay Market

 Global Solid State Relay Market was valued US$ XX Bn in 2018 and is expected to reach US$ 2.01 Bn by 2026, at CAGR of XX% during forecast period.

The significant factors driving the growth of the solid state relay market include increasing digitization and automation in the consumer electronics industry, growing modernization of electric vehicles, robust features of solid-state relay, such as high switching frequency and resistance to shock and vibration, and low noise while operating, long operating life, and low maintenance and compact size of solid-state relay. However, the requirement of a heat sink to manage thermal load, higher cost of SSR than EMR, and current leakage during switching OFF solid state relay are the key restraining factors for market growth. Based on the mounting type, the market for PCB-mount solid state relay is expected to grow at the highest CAGR of XX% during the forecast period. Additional, a PCB-mount solid state relay is ideal to use in applications where a small, power-dense package is required as is the case with a lot of commercial and industrial equipment. Growing demand for miniaturization of electrical circuits is driving demand for PCB-mount solid-state relays in automotive on account of their smaller size and lightweight properties. Regionally, Asia Pacific is expected to lead the solid-state relay market, in terms of size, during the forecast period. China and Japan are the countries driving the growth of the SSR market in the Asia Pacific. The Asia Pacific has huge growth potential for the solid-state relay market. The market growth in this region can be attributed to the tremendous growth of automotive, food & beverages, building equipment, and manufacturing industries in developing economies such as China, Japan, India, and South Korea. China is a key contributor to the growth of the solid-state relay market in the Asia Pacific on account of its huge industrial and manufacturing sectors. It is also the fastest-growing market for the solid-state relay in the Asia Pacific. Japan is also witnessing a steady growth in the solid-state relay market because of the presence of key manufacturers of solid-state relays such as Omron and Fujitsu. The report covers a recent development in the market for solid-state relay like, in November 2018, Carlo Gavazzi launched the newest addition to its portfolio of 3-phase RGC3 SSRs. The RGC3 48 Series is a 48 Amps per phase rated device, which can be panel mounted or thru-wall mounted. The new 48 AAC rated 3-phase relay uses a larger, natural convection heat sink that removes the need for additional supply voltage, if system monitoring is not required. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global solid state relay market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global solid state relay market.

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Scope of the Global Solid State Relay Market

Global Solid State Relay Market, By Mounting Type

• Panel • PCB • DIN Rail • Others (plug-in, SO4, and DIP)

Global Solid State Relay Market, By Output Voltage

• AC • DC • AC/DC

Global Solid State Relay Market, By Current Rating

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

Global Solid State Relay Market, By End User

• Industrial • Commercial • Residential

Global Solid State Relay Market, By Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Key players operating in Global Solid State Relay Market

• ABB • Avago Technologies, Ltd. • Celduc Relais • Crydom Inc. • Fujitsu Limited • General Electric • Omega Engineering Inc. • Omron Corporation • Rockwell Automation, Inc. • Teledyne Relays, Inc.

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