Solid-state Relay Market Size & Share, by Mounting Type (Panel Mount, PCB Mount, DIN Rail Mount); Output (AC Solid State Relay, DC Solid State Relay, AC/DC Output Relay, Current Rating); Industry (Energy & Infrastructure, Industrial OEM, Building Equipment, Food & Beverages, Healthcare, Automotive & Transportation, Industrial Automation) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5200
  • Published Date: Aug 29, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Solid-state Relay Market size is projected to cross USD 5 billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of the solid-state relay was USD 2 billion. The major factor driving the market expansion is the growth in demand for electricity. During the previous 50 years, the amount of power utilized worldwide has risen steadily, and in 2021, it was expected to reach over 25,299 terawatt-hours. Multiple lights may be controlled by solid-state relays in conjunction with the computer system, and sophisticated lighting effects may be employed to enhance the ambience of the stage.

Further, owing to its ability to control multiple lights they are extensively used in office spaces. Therefore, with the growing construction of office spaces, the market is estimated to grow further. In 2022, there were estimated to be about 93,000 office buildings all across the world.


Solid-state Relay Market
Get more information on this report: Request Free Sample PDF

Solid-state Relay Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Utilization of Solid-state Relay in Remote Control System: Small current signals are frequently required by remote control systems for controlling high-power machinery including electric motors, pulse valves, and other machinery. Solid state relays are frequently employed in remote control systems to serve as electronic switching components without mechanical contacts since they have many great benefits, including high reliability, flexible control, no spark, no noise, fast switching, high operating frequency, high durability, and strong anti-interference ability.
     
  • Rising Need to Control Cooling/Heating System: Solid-state relays (SSR), thyristor modules (SCR modules), and AC contactors are typically among the three techniques employed to control heating and cooling systems. Solid-state relays and SCR modules are both widely used in cooling and heating equipment nowadays; however, SCR modules are less common since they are more expensive. As a result, solid-state relays are more frequently used in heating and cooling equipment including electric ovens, coffee makers, food vending machines, griddles, fryers, air conditioners, refrigerators, and so on.
     
  • Surge in Adoption of Integrated Thermal Protection System: Solid-state relays (SSRs) produce heat when they operate. The component may become damaged from overheating brought on by a continual high level of operation, which could further lead to a halt in production. In order to prevent such occurrences, solid state relays are being manufactured with integrated thermal protection mechanisms that shut off the circuit in the event of overheating, shielding both the component and the parent system from any potential damage or shut down.

Challenges

  • High Cost of Solid-state Relay - A major obstacle to the market's expansion in the near future is anticipated to be the price of purchasing a solid-state relay, which is much more than the cost of an electromechanical relay. However, the solid-state relay market will expand tremendously as a result of the decrease in procurement costs. But although electromechanical relays are less expensive, the total cost of various maintenance tasks over time, including downtime, repair costs, and manual labor, will roughly be comparable to that of solid-state relays.
  • Tough to Manage the System
  • Lack of Efficiency

Solid-state Relay Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2035)

~ USD 5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Solid-state Relay Segmentation

Output (AC Solid State Relay, DC Solid State Relay, AC/DC Output Relay, Current Rating)

The DC solid-state relay market is expected to capture a share of approximately 40% over the projected period. These solid state relays are applied to thyristors and transistors to lessen electrical noise and the back-EMF that is linked to inductive loads. They are typically utilized in instrumentation, telecommunications, data communications, manufacturing, medical, electronic, and industrial appliances, automation, lighting, fire & and security systems, and other devices.

Industry (Energy & Infrastructure, Industrial OEM, Building Equipment, Food & Beverages, Healthcare, Automotive & Transportation, Industrial Automation)

Solid-state relay market frim the healthcare segment is projected to hold the highest share of 30% over the coming years. The elements of medical equipment should function well (high precision, durability, and more) since the equipment in this field has a rigorous operating frequency and accurate operation criteria. Most medical equipment requirements may be satisfied using solid-state relays.

Our in-depth analysis of the global market includes the following segments:

 

  Mounting Type

  • Panel Mount
  • PCB Mount
  • DIN Rail Mount

 

  Output

  • AC Solid State Relay
  • DC Solid State Relay
  • AC/DC Output Relay
  • Current Rating

 

 

 

  Industry

  • Energy & Infrastructure
  • Industrial OEM
  • Building Equipment
  • Food & Beverages
  • Healthcare
  • Automotive & Transportation
  • Industrial Automation

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Solid-state Relay Industry- Regional Synopsis

APAC Market Forecast

The Asia Pacific solid-state relay market is expected to grow at a share of 35% over the forecast period. This growth could be attributed to growing rail projects. For instance, as of April 1, 2022, there were 183 new line projects underway across the Indian Railways, totaling 20,937 km (including elevated railway track/corridor) and costing roughly USD 0.04 billion. Of these, 2,831 km (or roughly USD 0.0113) had been completed and commissioned as of March 2022. Hence, the demand for solid state relay is growing since, it is extensively used in rail to make them function well in extreme condition.

North American Market Analysis

The solid-state relay market in North America is also expected to have significant growth over the forecast period. This growth could be owing to a rise in the number of people travelling by plane. Solid-state relay is extensively used in lighting aircraft runways since it provides multiple lighting solutions. Therefore, since airplane passenger is growing the demand for construction of aircraft runway is also rising further boosting market growth in this region. Additionally, growing digital transformation such as the adoption of implementation of 5G is also expected to drive the market in this region.

Research Nester
Solid-state Relay Market Size
Get more information on this report: Request Free Sample PDF

Top Featured Companies Dominating the Solid-state Relay Landscape

top-features-companies
    • Texas Instruments Incorporated
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Schneider Electric
    • Carlo Gavazzi Holding AG
    • OPTO 22
    • TE Connectivity
    • Sensata Technologies
    • Celduc Relais
    • Siemens
    • ABB
    • Rockwell Automation

In-the-news

In The News

  • With innovative solid-state relays that offer industry-leading dependability, Texas Instruments Incorporated advances isolation technology. The TPSI2140-Q1 1,400-V, 50-mA isolated switch and the TPSI3050-Q1 isolated switch driver both integrate power and signal isolation across a single barrier using a novel method that increases dependability.
  • The multinational electronics company Carlo Gavazzi Holding AG, which engages in the design, production, and marketing of electronic equipment, today introduces the NRG with Modbus TCP connection as a new communication interface for its NRG series of digital solid state relays.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5200
  • Published Date: Aug 29, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growing utilization of solid-state relay in remote control system, rising need to control cooling/heating system, and surge in adoption of integrated thermal protection system.

The market size of solid-state relay is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Texas Instruments Incorporated, Schneider Electric, Carlo Gavazzi Holding AG, OPTO 22, and others.

The DC solid state relay segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Solid-state Relay Market Report Scope
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying