PUBLISHER: KBV Research | PRODUCT CODE: 1462002
PUBLISHER: KBV Research | PRODUCT CODE: 1462002
The Global Solid State Relay Market size is expected to reach $1.9 billion by 2030, rising at a market growth of 6.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 30,036.4 thousand units, experiencing a growth of 6.9% (2019-2022).
SSRs play a crucial role in smart manufacturing systems by providing reliable and precise control of electrical loads in automated machinery, robotics, conveyor systems, and production lines. Consequently, the Industrial Automation segment would generate approximately 27.86 % share of the market by 2030. Also, France would utilize 839.12 thousand units of PCB mount by 2030. As smart manufacturing adoption grows, the demand for SSRs to support automation and internet of things (IoT) integration increases.
SSRs offer much faster switching speeds compared to electromechanical relays. They can switch on and off in microseconds, making them ideal for applications requiring rapid response times and precise control of electrical loads. This feature is crucial in manufacturing, automation, and telecommunications industries, where high-speed switching is essential for efficiency and performance. Therefore, the above advantages of SSRs over electromechanical relays drive the market's growth.
Additionally, Consumer electronics devices, such as smartphones, tablets, laptops, and wearable gadgets, require compact and lightweight components to meet the demand for smaller, more portable designs. SSRs, with their solid-state construction and compact form factor, are well-suited for integration into these miniaturized electronic devices. Hence, the growing demand for SSRs in consumer electronics drives the market's growth.
However, SSRs typically have a higher initial cost compared to electromechanical relays. This higher upfront cost includes the price of the SSR device itself and associated installation and integration expenses. For businesses and industries operating on tight budgets or seeking cost-effective solutions, the higher initial investment required for SSRs may be a barrier to adoption. Thus, the high initial investment cost is hampering the market's growth.
By Type Analysis
On the basis of type, the market is segmented into AC, DC, and AC/DC. The AC segment recorded the 51.79 % revenue share in the market in 2022. In terms of volume, the AC/DC relays segment sold 2,185.1 thousand units in 2022. AC SSRs are versatile and can be used in various industries. They are commonly employed in heating, ventilation, air conditioning (HVAC) systems, industrial automation, lighting control, motor control, and power distribution applications. They can handle a wide range of AC voltages and frequencies, allowing them to be used in different regions with varying electrical standards.
By End User Analysis
Based on end user, the market is divided into energy & power, industrial automation, automotive, food & beverages, and others. In 2022, the food & beverages segment held a 10.43 % revenue share in the market. SSRs offer a hygienic and safe solution for controlling electrical loads in food and beverage processing equipment. As per the National Investment Promotion & Facilitation Agency, by 2025, the food processing sector in India is estimated to reach $535 Bn and grow at a rate of 15.2%.
By Mounting Type Analysis
By mounting type, the market is divided into panel mount, PCB mount, DIN rail mount, and others. In 2022, the PCB mount segment registered a 42.79 % revenue share in the market. PCB (printed circuit board) mount SSRs are compact and can be directly mounted onto the circuit board, saving space compared to traditional through-hole components. This cost-effectiveness makes them attractive for manufacturers looking to reduce production costs without compromising performance.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region generated a 27.82 % revenue share in market. North America is witnessing significant growth in renewable energy sources such as solar, wind, and hydroelectric power. SSRs are used in smart grid systems to facilitate grid automation, demand response, and energy management, contributing to their rising demand in the region.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Solid State Relay Market Report Segmentation
By Type (Volume, Thousand Units, USD Billion, 2019-2030)
By End User (Volume, Thousand Units, USD Billion, 2019-2030)
By Mounting Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)