Solid State Relay Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Mounting Type (Panel Mount, Din Rail Mount, PCB Mount), Output Type (AC Relay, DC Relay, Others), By End-User Industry (Healthcare, Food And Beverage, Automotive, Manufacturing, Construction, Energy And Power, Others), And By Geography - Forecasts From 2021 To 2026
- Published : Sep 2021
- Report Code : KSI061610280
- Pages : 112
The solid state relay market is evaluated at US$1,332.984 million in 2019 and is projected to grow at a steady pace during the forecast period.
A solid-state relay is a completely electronic switching device that operates when an external voltage is passed across its control terminals and has no moving parts as switching states are provided by semiconductors like thyristors, triacs, diodes, and transistors. The solid-state relay market is expected to grow owing to the rising adoption of high-tech electronics and automation technology in the consumer electronics industry, the developing intricacy in circuits of electric vehicles, and the sturdy benefits and characteristics of solid-state relays. Nonetheless, the market growth is predicted to be restrained by factors like demand for a secure working temperature to direct disperse heat produced by solid-state relays, towering expenditure, and the prerequisite of higher initial investment as opposed to electromagnetic relays and continuous spillage in the turning OFF solid-state relays.
Shift from the conventional electromagnetic relay to solid-state relay to drive the market growth
The key driver of the solid-state relay market is the shift from the conventional electromagnetic relay to the solid-state relay. The consistent shift from electromagnetic relays to solid-state relays is by virtue of the different benefits it offers such as the more modest size, greater unwavering quality because of no moving part, elite, and low clamor that have prompted the expanded adoption of these solid-state relays. These favourable properties have led to an increase in the demand for solid-state relays by various industries. Additionally, incrementing interest to overhaul the power framework in developed nations to decrease heat production through heat scattering with the use of solid-state relays is also expected to propel the growth of the solid-state relay market.
Growth in innovation and adoption of consumer electronics to push the demand
The global consumer electronics market including home electronics, beverage dispensing machines, and office machines is predicted to grow to attribute to the soaring adoption of hi-tech electronics. The digital innovation in all three areas is owed to the changing consumer behaviour for increasing interest towards advanced, easy-to-use, and smart technological devices. This growth in innovation and adoption of consumer electronics has pushed the demand for solid-state relays because of their prompt use for switching applications and advancing protection against electrical surges. Furthermore, the developing number of new companies in the semiconductor business, the outspread of the semiconductor industry, the increment in their demand across different sectors have set out numerous new open doors for the development of the major players in the state transfer market.
Demand for a secure working temperature to direct disperse heat – a challenge
A solid-state relay doesn't have moving parts and works dependent on the characteristics of semiconductors. These semiconductors, contingent on the solid-state relay design, produce heat while working at the pace of ~1–1.5 W per ampere of load current for AC yield solid-state relays, and 0.2–1.5 W per ampere of load current for DC yield. So, a solid-state relay needs a powerful technique for scattering heat. The most well-known strategy is the utilization of the sufficient size of a heat sink made of thermally conductive materials like aluminium or steel as it disperses the heat produced by the solid-state relay into encompassing surrounding air and keeps a safe working temperature while expanding the working existence of the solid-state relay. The safe working temperature is additionally accomplished with the utilization of little exhaust fans over the heat sinks to keep the wind current steady. In this way, the utilization of heat sinks or exhaust fans restricts the utilization of solid-state relay freely for applications with an excess of 5 amps of load. The requirement for heat sinks to disperse the heat produced by solid-state relays entangles the planning of an electric circuit, which limits the utilization of solid-state relays posing a challenge to the market.
High cost and initial investment to restrain the market growth
The high costs associated with solid-state relays due to the requirement of adhering to the safety standards and regulations imposed by government agencies are restraining the growth of the market. The small manufacturers are unable to obtain economies of scale and the high initial investments seem to disincentivize them from retaining or entering the market.
Impact of COVID-19
The COVID-19 pandemic has disrupted the production of solid-state relays due to the lockdowns imposed to curb the spread of the virus. Various production facilities had to be closed down due to the regulations imposed by the governments which led to a temporary slowdown in the solid-state relay market. Furthermore, construction and manufacturing that were driving the demand for solid-state relays were also adversely affected by declining the demand for solid-state relays. The automotive, consumer electronics, semiconductor, and IT infrastructures have also been impacted due to the low disposable income of the people and their willingness to spend only on essentials. This has further disrupted the growth of the solid-state relay market. However, this disruption is momentary and the market is expected to rise at a steady pace during the forecast period after the dissipation of the crisis.
By mounting type, the solid-state relay market can be segmented into panel mount, din rail mount, and PCB mount. Based on output type, the market can be divided into AC relay, DC relay, and others. By end-user, the market is segmented into healthcare, food and beverage, automotive, manufacturing, construction, energy and power, and others.
Geographically, the solid-state relay market is studied across North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. Asia Pacific region dominated the solid state relay market owing to the growth of the FMCG, automotive, and consumer electronics industries in emerging economies like China, India, and Indonesia. Additionally, the emergence of more and more market players in the electronic and semiconductor industries is fuelling the growth of the solid-state relay market in the region.
Solid State Relay Market Scope:
|Market size value in 2019||US$1,332.984 million|
|Forecast Unit (Value)||USD Million|
|Segments covered||Mounting Type, Output Type, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Crydom, Carlo Gavazzi Holding, IXYS Integrated Circuits Division, Vishay Intertechnology, Omron Corporation, Broadcom Limited, Rockwell Automation, Teledyne Relays|
|Customization scope||Free report customization with purchase|
- By Mounting Type
- Panel mount
- Din rail mount
- PCB mount
- By Output Type
- AC relay
- DC relay
- By End-User Industry
- Food and Beverage
- Energy and Power
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What is the size of the global solid state relay market?
A1. Solid State Relay Market was valued at US$1,332.984 million in 2019.
Q2. Who are the major players in the solid state relay market?
A2. Prominent key market players in the solid-state relay market include Crydom, Carlo Gavazzi Holding, IXYS Integrated Circuits Division, Vishay Intertechnology, Omron Corporation, Broadcom Limited, among others.
Q3. How is the global solid state relay market segmented?
A3. The global solid state relay market has been segmented by mounting type, output type, end-user industry, and geography.
Q4. What factors are anticipated to drive the solid-state relay market growth?
A4. The key driver of the solid state market is the shift from the conventional electromagnetic relay to the solid state relay.
Q5. Which region holds the largest market share in the solid state relay market?
A5. Asia Pacific region dominated solid state relay market owing to the growth of FMCG, automotive, and consumer electronics industry in the emerging economies like China, India, and Indonesia.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Solid State Relay Market Analysis, by Mounting Type
5.2. Panel mount
5.3. Din rail mount
5.4. PCB mount
6. Solid State Relay Market Analysis, by Output Type
6.2. AC relay
6.3. DC relay
7. Solid State Relay Market Analysis, by End-User Industry
7.3. Food and Beverage
7.7. Energy and Power
8. Solid State Relay Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.2. Carlo Gavazzi Holding
10.3. IXYS Integrated Circuits Division
10.4. Vishay Intertechnology
10.5. Omron Corporation
10.6. Broadcom Limited
10.7. Rockwell Automation
10.8. Teledyne Relays
IXYS Integrated Circuits Division
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