Global $1.6Bn Solid State Relay (SSR) Market by Mounting Type, Output Voltage, Current Rating, Application and Geography - Forecast to 2024 - ResearchAndMarkets.com

DUBLIN--()--The "Solid State Relay Market by Mounting Type (Panel, PCB, DIN Rail), Output Voltage (AC, DC, AC/DC), Current Rating (Low, Medium, High), Application (Industrial Automation, Building Equipment, Industrial OEM), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The solid state relay market is estimated to grow from USD 1.2 billion in 2019 to USD 1.6 billion by 2024, at a CAGR of 5.7%.

The key factors driving the growth of the market include increasing digitization and automation in the consumer electronics industry; growing modernization of electric vehicles; robust features of SSR, 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 SSR.

However, the requirement of heat sink to manage thermal load, higher cost of SSR than EMR, and current leakage during switching OFF SSR are the key restraining factors for market growth.

Key players in the SSR market are Crydom (US), Omron Corporation (Japan), Carlo Gavazzi (Switzerland), Vishay Intertechnology (US), and Omega Engineering (US), among others. These companies have adopted key strategies such as product launches, acquisitions, agreements, and expansions to expand their business operations and customer base worldwide.

PCB-mount SSR to witness high growth potential during forecast period

The market for PCB-mount SSR is expected to grow at the highest CAGR from 2019 to 2024. The PCB-mount SSRs have comparatively smaller size and built-in heat sink with high surge capability, making them suitable for applications such as electromagnetic waves, electric machines, and filament lamp control.

Further, a PCB-mount SSR 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 fuelling demand for PCB-mount SSRs in automotive owing to their smaller size and lightweight properties.

Market for AC/DC SSR to grow at highest CAGR during forecast period

The AC/DC SSR market is estimated to grow at the highest CAGR from 2019 to 2024. The AC/DC output relays are used for switching both AC and DC outputs. They consist of a DC-AC converter circuit. In case of a DC input signal, the DC-AC converter is used to convert the signal to AC and is then applied to the triggering switch.

In case of an AC input signal, it is directly applied to the triggering switch. The low current ratings of AC/DC relays limit its scope of usage in various application segments; however, the adoption of AC/DC relays in automotive and transportation is expected to aid the growth of this market during the forecast period.

Market for high current rating SSR to grow at highest CAGR during forecast period

The high current rating SSR market is estimated to grow at the highest CAGR from 2019 to 2024. High current rating SSRs include relays from 50A to 200A. The high current rating SSRs are mainly used in building equipment, and energy and infrastructure.

SSRs with high current ratings (150A and above) are expensive due to their power semiconductor and heat-sinking requirements. Increasing use of high current rating SSR in elevators, conveyor systems, and machine tools is fuelling the growth of this market.

Solid state relay market for automotive & transportation to grow at highest rate during forecast period

The solid state relay market for automotive and transportation is expected to grow at the highest CAGR from 2019 to 2024. SSR has wide applications in automobiles such as battery electric vehicles, hybrid electric vehicles, charging stations, commercial trucks, and even combustion engine vehicles. The major use of SSR is in mobile HVAC system, which is used in various types of transportation systems, including rail, bus, aircraft, and truck.

Growing demand for electric vehicles is supporting the high growth rate of SSR in automotive and transportation. SSRs offer exceptional performance in a panel-mounted industrial package, which has an efficient thermal design. SSRs offer superior solid state performance for high-power demanding applications and are also an ideal choice for automobiles as they offer variable load control.

APAC to be the largest market for solid state relay during forecast period

APAC is expected to lead the solid state relay market, in terms of size, from 2019 to 2024. China and Japan are the countries driving the growth of the SSR market in APAC. APAC has huge growth potential for the SSR market. The market growth in this region can be attributed to the tremendous growth of automotive, food & beverages, building equipment, and manufacturing industries in emerging economies such as China, Japan, India, and South Korea.

China is a key contributor to the growth of the SSR market in APAC owing to its huge industrial and manufacturing sectors. It is also the fastest-growing market for SSR in APAC. Japan is also witnessing a steady growth in the SSR market owing to the presence of key manufacturers of SSRs such as Omron and Fujitsu.

Key Topics Covered

1 Introduction

1.1 Study Objectives

1.2 Definition

1.3 Scope of the Study

1.4 Currency

1.5 Limitations

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Market Breakdown & Data Triangulation

2.4 Research Assumptions

3 Executive Summary

4 Premium Insights

4.1 Solid State Relay Market, 2019-2024 (USD Billion)

4.2 Solid State Relay Market, By Mounting Type

4.3 Solid State Relay Market, By Output Voltage

4.4 Solid State Relay Market, By Current Rating

4.5 Solid State Relay Market, By Application

4.6 Solid State Relay Market, By Geography

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increasing Digitization and Automation in Consumer Electronics Industry

5.2.1.2 Growing Modernization of Electric Vehicles to Drive Solid State Relay Market

5.2.1.3 Robust Features of SSR Such as High Switching Frequency and Resistance to Shock and Vibration

5.2.1.4 Long Operating Life, Low Noise While Operating, Small Size, and Less Maintenance of SSR

5.2.2 Restraints

5.2.2.1 Requirement of Heat Sink to Manage Thermal Load

5.2.2.2 Higher Cost Price of SSR Than EMR

5.2.2.3 Current Leakage During Switching Off SSR

5.2.3 Opportunities

5.2.3.1 Rise in Start-Up Companies Develop Market Opportunities for SSR

5.2.3.2 Increase in Demand for Semiconductors in APAC

5.2.4 Challenges

5.2.4.1 Stringent Quality Standards of Industries

5.3 Value Chain Analysis

5.4 Functions of SSR

6 Solid State Relay Market, By Mounting Type

6.1 Introduction

6.2 Panel Mount

6.2.1 Panel-Mount SSR to Hold Largest Market During Forecast Period

6.3 PCB Mount

6.3.1 Miniaturization of Electrical Equipment is Fuelling the Market for PCB-Mount SSRs

6.4 DIN Rail Mount

6.4.1 DIN Rail-Mount SSR to Grow at Highest Rate During Forecast Period

6.5 Others

7 Solid State Relay Market, By Output Voltage

7.1 Introduction

7.2 AC SSR

7.2.1 AC SSR to Hold Largest Market During Forecast Period

7.3 DC SSR

7.3.1 Increasing Adoption of DC SSRs in Control System Applications

7.4 AC/DC SSR

7.4.1 AC/DC SSR to Grow at Highest Rate During Forecast Period

8 Solid State Relay Market, By Current Rating

8.1 Introduction

8.2 Low (0-20a)

8.2.1 Low Current Rating SSR to Grow at Highest Rate During Forecast Period

8.3 Medium (20-50a)

8.3.1 Medium Current Rating SSR to Hold Largest Size of the Market During Forecast Period

8.4 High (50a & Above)

8.4.1 Increasing Usage of High Current Rating SSRs in Building Equipment and Energy & Infrastructure

9 Solid State Relay Market, By Application

9.1 Introduction

9.2 Industrial Automation

9.2.1 Machine Tools

9.2.2 Elevators

9.2.3 Conveyor Systems

9.2.4 Industrial Robotics

9.2.5 Material Handling Equipment

9.2.6 Others

9.3 Building Equipment

9.3.1 Lighting Systems

9.3.2 Security and Access Control Systems

9.3.3 HVAC Systems

9.3.4 Others

9.4 Industrial OEM

9.4.1 Electronics Equipment

9.4.2 Packaging Devices

9.4.3 Plastic and Printing Devices

9.4.4 Others

9.5 Energy and Infrastructure

9.5.1 Power Distribution

9.5.2 Solar Tracking Systems

9.5.3 Wind Turbines

9.5.4 Others

9.6 Automotive & Transportation

9.6.1 Train Control Systems

9.6.2 Electric Vehicles

9.6.3 Others

9.7 Medical

9.7.1 Dialysis Machines

9.7.2 Medical Sterilizers

9.7.3 Incubators

9.7.4 Others

9.8 Food & Beverages

9.8.1 Ovens

9.8.2 Coffee Makers & Vending Machines

9.8.3 Others

10 Geographic Analysis

10.1 Introduction

10.2 North America

10.3 Europe

10.4 APAC

10.5 RoW

11 Competitive Landscape

11.1 Overview

11.2 Ranking of Players in Solid State Relay Market

11.3 Competitive Leadership Mapping

11.3.1 Visionaries

11.3.2 Innovators

11.3.3 Dynamic Differentiators

11.3.4 Emerging Companies

11.4 Strength of Product Portfolio

11.5 Business Strategy Excellence

11.6 Competitive Situations & Trends

11.6.1 Product Launches

11.6.2 Acquisitions

11.6.3 Agreements

11.6.4 Expansions

12 Company Profiles

12.1 Key Players

12.1.1 Carlo Gavazzi

12.1.1.1 Business Overview

12.1.1.2 Products Offered

12.1.1.3 Recent Developments

12.1.1.4 SWOT Analysis

12.1.1.5 MnM View

12.1.2 Omron Corporation

12.1.3 Vishay Intertechnology

12.1.4 Crydom

12.1.5 Omega Engineering

12.1.6 Broadcom

12.1.7 Fujitsu

12.1.8 Rockwell Automation

12.1.9 Anacon Electronic Sales

12.1.10 Celduc Relais

12.1.11 Ixys Integrated Circuits Division

12.1.12 Teledyne Relays

12.2 Other Key Players

12.2.1 Ametek

12.2.2 Arico Technology

12.2.3 Connectwell Industries

12.2.4 Eaton

12.2.5 EMTech Solutions

12.2.6 Panasonic

12.2.7 Phoenix Contact

12.2.8 TE Connectivity

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Related Topics: Hardware, Semiconductor

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Hardware, Semiconductor