Global Solid State Relay Market Research Report Information By Type, By Mounting, By Output Voltage, By Current Rating (Low, Medium, and High ), By Application, and By Region -Forecast Till 2032

Description

List of Tables

Global Solid State Relay Market Research Report Information By Type (DC to AC, DC to DC, AC to DC, and AC/DC to AC), By Mounting (El Panel Mount, PCB Mount, Din Rail Mount, and Others), By Output Voltage (DC Solid State Relay {Constant Current and Resistive Current} and AC Solid State Relay {Single Phase and Three-Phase}), By Current Rating (Low (0-20A), Medium (20A-50A), and High (50A and Above)), By Application (Industrial Automation, Building Equipment, Energy & Power, Automotive & Transportation, Food & Beverage, Military & Defense, and Others), and By Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) -Forecast Till 2032

Market Overview

In 2023, the solid state relay market was estimated to be worth USD 1.26 million. The Solid State Relay industry is anticipated to experience a compound annual growth rate (CAGR) of 4.48% from USD 1.3245 Million in 2024 to USD 1.88 Million by 2032 during the forecast period (2024-2032). The Solid-State Relay market is being driven by a combination of key market drivers, including the increasing demand for medical devices to support market growth, the surging demand for temperature control solutions, and the expanding applications across the food and beverage industry.

The solid-state relay market is experiencing growth as a consequence of product releases and innovations. While the market is being assessed, market participants are strategically reducing the demand pool and increasing their profit margins. For instance, in May 2022, new solid-state relays were introduced. The TPSI3050-Q1 isolated switch driver, which features an integrated 10-V gate supply, and the TPSI2140-Q1 1,400-V, 50-mA isolated switch have revolutionized power and signal isolation by employing a novel strategy to enhance overall reliability.

Market segment insights

The Solid State Relay Market segmentation is categorized by type, including DC to AC, DC to DC, AC to DC, and AC/DC to AC.

Panel Mount, PCB Mount, Din Rail Mount, and Others comprise the market segmentation, which is determined by mounting.

DC Solid State Relay and AC Solid State Relay comprise the market segmentation, which is determined by output voltage.

The Solid State Relay Market segmentation is divided into three categories: Low (0-20A), Medium (20A-50A), and High (50A and Above) based on the current rating.

The market segmentation is categorized into the following based on application: Industrial Automotion, Building Equipment, Energy & Power, Automotive & Transportation, Food & Beverage, Military & Defense, and Others.

Regional Perspectives

In 2022, the Asia Pacific Solid State Relay market comprised approximately 35.1% of the total. During the forecast period, the Asia-Pacific market is anticipated to expand at a compound annual growth rate (CAGR) of 9.1%. In the coming years, the given market participants will have immense growth opportunities across the country due to the surging government investment in military and defense, as well as the growing industrial automation industry. For example, the Ministry of Finance in China plans to increase defense spending by 7.2% to 230 USD billion in 2023. Last year, China's defense budget expanded by 7.1%, surpassing the 6.8% increase in 2021 and the 6.6% increase in 2020.

The region's market development will be fueled by the increasing government investment in energy and power. For example, the Canadian government has disclosed its intention to allocate 130.23 USD million to 12 renewable energy initiatives situated in Alberta. Additionally, the United States is on the brink of investing over half a trillion dollars in climate action and renewable energy initiatives over the next decade. Furthermore, the Foreign Ministry of Mexico has announced that Mexico is on the brink of implementing 30 gigawatts of renewable energy capacity by 2030. Therefore, the SSR market is expected to experience significant growth opportunities in the region in the future as a result of the increasing investment in renewable energy initiatives. In the energy and power sector, SSR is employed for a variety of purposes, including voltage regulation and power factor.

Major Players

Crydom Inc. (Sensata Technology), Omron Corporation, Schneider Electric, ABB Ltd., IXYS Corp. (Littelfuse), STMicroelectronics, Rockwell Automation Inc., General Electric, Vishay Intertechnology (Siliconix), Fujitsu Limited, Carlo Gavazzi Holding AG, Honeywell International Inc., and Texas Instruments Inc. are among the key companies in the Solid-State Relay market.

Product Code: MRFR/SEM/7173-CR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 HIGH DEMAND FOR MEDICAL DEVICE TO SUPPORT MARKET GROWTH
- 4.2.2 SURGING DEMAND FOR TEMPERATURE CONTROL SOLUTIONS
- 4.2.3 GROWING APPLICATIONS ACROSS FOOD AND BEVERAGE INDUSTRY
4.3 RESTRAINTS
- 4.3.1 LAGGING CAPACITY TO WITHSTAND LARGE MOMENTARY OVERLOAD
- 4.3.2 GOVERNMENT STANDARDS AND REGULATORY NORMS TO AFFECT GROWTH
- 4.3.3 HIGH COSTS OF SOLID-STATE RELAY
4.4 OPPORTUNITY
- 4.4.1 INTRODUCTION OF SMART SSR TO PULLULATE MARKET GROWTH
- 4.4.2 GROWING DEMAND FROM CONSUMER ELECTRONICS
4.5 TREND
- 4.5.1 TECHNOLOGY ADVACENMENT AND RELATED INFRASTRUCTURE DEVELOPMENT
4.6 COVID-19 IMPACT ANALYSIS

5 MARKET FACTOR ANALYSIS

5.1 VALUE CHAIN ANALYSIS
- 5.1.1 RAW MATERIAL SUPPLIERS
- 5.1.2 MANUFACTURERS
- 5.1.3 DISTRIBUTORS
- 5.1.4 END USERS
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 THREAT OF SUBSTITUTES
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 MARKET SWOT ANALYSIS
5.4 MARKET PESTEL ANALYSIS
- 5.4.1 POLITICAL
  - 5.4.1.1 GOVERNMENT STABILITY
  - 5.4.1.2 TAX POLICY
  - 5.4.1.3 COMPETITION REGULATION
  - 5.4.1.4 TRADE BLOCKS
- 5.4.2 ECONOMIC
  - 5.4.2.1 INFLATION RATE
  - 5.4.2.2 INTEREST RATE
  - 5.4.2.3 CONSUMER SPENDING TRENDS
  - 5.4.2.4 UNEMPLOYMENT TRENDS
- 5.4.3 SOCIAL
  - 5.4.3.1 DEMOGRAPHICS
  - 5.4.3.2 EDUCATION
- 5.4.4 TECHNOLOGICAL
  - 5.4.4.1 TECHNOLOGICAL INFRASTRUCTURE
  - 5.4.4.2 INVESTMENT IN R &D
- 5.4.5 ENVIRONMENTAL
- 5.4.6 LEGAL
  - 5.4.6.1 HEALTH AND SAFETY LAW
  - 5.4.6.2 EMPLOYMENT LAWS
  - 5.4.6.3 ANTI-DISCRIMINATION LAW

6 GLOBAL SOLID STATE RELAY MARKET, BY TYPE

6.1 OVERVIEW
6.2 DC TO AC
6.3 DC TO DC
6.4 AC TO DC
6.5 AC/DC TO AC

7 GLOBAL SOLID STATE RELAY MARKET, BY MOUNTING

7.1 INTRODUCTION
7.2 PANEL MOUNT
7.3 PCB MOUNT
7.4 DIN RAIL MOUNT
7.5 OTHERS

8 GLOBAL SOLID STATE RELAY MARKET, BY OUTPUT VOLTAGE

8.1 INTRODUCTION
8.2 DC SOLID STATE RELAY
- 8.2.1 CONSTANT CURRENT
- 8.2.2 RESISTIVE CURRENT
8.3 AC SOLID STATE RELAY
- 8.3.1 SINGLE PHASE
- 8.3.2 THREE-PHASE

9 GLOBAL SOLID STATE RELAY MARKET, BY CURRENT RATING

9.1 INTRODUCTION
9.2 LOW (0-20A)
9.3 MEDIUM (20A-50A)
9.4 HIGH (50A AND ABOVE)

10 GLOBAL SOLID STATE RELAY MARKET, BY APPLICATION

10.1 INTRODUCTION
10.2 INDUSTRIAL AUTOMATION
10.3 BUILDING EQUIPMENT
10.4 ENERGY & POWER
10.5 AUTOMOTIVE & TRANSPORTATION
10.6 FOOD & BEVERAGE
10.7 MILITARY & DEFENSE
10.8 OTHERS

11 GLOBAL SOLID STATE RELAY MARKET, BY REGION

11.1 OVERVIEW
- 11.1.1 GLOBAL SOLID STATE RELAY MARKET, BY REGION, 2024 & 2032 (USD MILLION)
- 11.1.2 GLOBAL SOLID STATE RELAY MARKET, BY REGION, 2024-2032 (000' UNITS)
11.2 NORTH AMERICA
- 11.2.1 US
- 11.2.2 CANADA
- 11.2.3 MEXICO
11.3 EUROPE
- 11.3.1 GERMANY
- 11.3.2 UK
- 11.3.3 FRANCE
- 11.3.4 ITALY
- 11.3.5 SPAIN
- 11.3.6 REST OF EUROPE
11.4 ASIA-PACIFIC
- 11.4.1 CHINA
- 11.4.2 INDIA
- 11.4.3 JAPAN
- 11.4.4 SOUTH KOREA
- 11.4.5 REST OF APAC
11.5 MIDDLE EAST & AFRICA
- 11.5.1 SAUDI ARABIA
- 11.5.2 UAE
- 11.5.3 SOUTH AFRICA
- 11.5.4 REST OF MEA
11.6 SOUTH AMERICA
- 11.6.1 BRAZIL
- 11.6.2 ARGENTINA
- 11.6.3 REST OF SOUTH AMERICA

12 COMPETITIVE LANDSCAPE

12.1 INTRODUCTION
12.2 MARKET SHARE ANALYSIS, 2022
12.3 COMPETITOR DASHBOARD
12.4 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 12.4.1 PRODUCT LAUNCH/PRODUCT APPROVAL/PRODUCT DEVELOPMET
- 12.4.2 MERGER AND ACQUISITION
- 12.4.3 PARTNERSHIP/INVESTMENT

13 COMPANY PROFILE

13.1 HONEYWELL INTERNATIONAL INC.
- 13.1.1 COMPANY OVERVIEW
- 13.1.2 FINANCIAL OVERVIEW
- 13.1.3 PRODUCTS OFFERED
- 13.1.4 KEY DEVELOPMENTS
- 13.1.5 SWOT ANALYSIS
- 13.1.6 KEY CUSTOMERS
- 13.1.7 KEY STRATEGIES
13.2 TEXAS INSTRUMENTS
- 13.2.1 COMPANY OVERVIEW
- 13.2.2 FINANCIAL OVERVIEW
- 13.2.3 PRODUCTS OFFERED
- 13.2.4 KEY DEVELOPMENTS
- 13.2.5 SWOT ANALYSIS
- 13.2.6 KEY CUSTOMERS
- 13.2.7 KEY STRATEGIES
13.3 STMICROELECTRONICS
- 13.3.1 COMPANY OVERVIEW
- 13.3.2 FINANCIAL OVERVIEW
- 13.3.3 PRODUCTS OFFERED
- 13.3.4 KEY DEVELOPMENTS
- 13.3.5 SWOT ANALYSIS
- 13.3.6 KEY CUSTOMERS
- 13.3.7 KEY STRATEGIES
13.4 ABB LTD.
- 13.4.1 COMPANY OVERVIEW
- 13.4.2 FINANCIAL OVERVIEW
- 13.4.3 PRODUCTS OFFERED
- 13.4.4 KEY DEVELOPMENTS
- 13.4.5 SWOT ANALYSIS
- 13.4.6 KEY STRATEGIES
13.5 ROCKWELL AUTOMATION INC.
- 13.5.1 COMPANY OVERVIEW
- 13.5.2 FINANCIAL OVERVIEW
- 13.5.3 PRODUCTS OFFERED
- 13.5.4 KEY DEVELOPMENTS
- 13.5.5 SWOT ANALYSIS
- 13.5.6 KEY STRATEGIES
13.6 GENERAL ELECTRIC
- 13.6.1 COMPANY OVERVIEW
- 13.6.2 FINANCIAL OVERVIEW
- 13.6.3 PRODUCTS OFFERED
- 13.6.4 KEY DEVELOPMENTS
- 13.6.5 KEY STRATEGIES
13.7 OMRON CORPORATION
- 13.7.1 COMPANY OVERVIEW
- 13.7.2 FINANCIAL OVERVIEW
- 13.7.3 PRODUCTS OFFERED
- 13.7.4 KEY DEVELOPMENTS
- 13.7.5 SWOT ANALYSIS
- 13.7.6 KEY STRATEGIES
13.8 FUJITSU LIMITED
- 13.8.1 COMPANY OVERVIEW
- 13.8.2 FINANCIAL OVERVIEW
- 13.8.3 PRODUCTS OFFERED
- 13.8.4 KEY DEVELOPMENTS
- 13.8.5 SWOT ANALYSIS
- 13.8.6 KEY STRATEGIES
13.9 VISHAY INTERTECHNOLOGY (SILICONIX)
- 13.9.1 COMPANY OVERVIEW
- 13.9.2 FINANCIAL OVERVIEW
- 13.9.3 PRODUCTS OFFERED
- 13.9.4 KEY DEVELOPMENTS
- 13.9.5 SWOT ANALYSIS
- 13.9.6 KEY STRATEGIES
13.10 CARLO GAVAZZI HOLDING AG
- 13.10.1 COMPANY OVERVIEW
- 13.10.2 FINANCIAL OVERVIEW
- 13.10.3 PRODUCTS OFFERED
- 13.10.4 KEY DEVELOPMENTS
- 13.10.5 SWOT ANALYSIS
- 13.10.6 KEY STRATEGIES
13.11 IXYS CORP. (LITTELFUSE)
- 13.11.1 COMPANY OVERVIEW
- 13.11.2 FINANCIAL OVERVIEW
- 13.11.3 PRODUCTS OFFERED
- 13.11.4 KEY DEVELOPMENTS
- 13.11.5 SWOT ANALYSIS
- 13.11.6 KEY CUSTOMER
- 13.11.7 KEY STRATEGIES
13.12 SCHNEIDER ELECTRIC
- 13.12.1 COMPANY OVERVIEW
- 13.12.2 FINANCIAL OVERVIEW
- 13.12.3 PRODUCTS OFFERED
- 13.12.4 KEY DEVELOPMENTS
- 13.12.5 SWOT ANALYSIS
- 13.12.6 KEY CUSTOMERS
- 13.12.7 KEY STRATEGIES
13.13 CRYDOM INC. (SENSATA TECHNOLOGIES, INC.)
- 13.13.1 COMPANY OVERVIEW
- 13.13.2 FINANCIAL OVERVIEW
- 13.13.3 PRODUCTS OFFERED
- 13.13.4 KEY DEVELOPMENTS
- 13.13.5 SWOT ANALYSIS
- 13.13.6 KEY STRATEGIES