Solid State Relay Market- By Mounting Type , By Output , By Industry , By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030

Solid State Relay Market Overview

The Solid-State Relay Market size is estimated to grow at a CAGR of 5.5% during 2024-2030 to reach revenue of $1.8 billion by 2030. Solid State Relays find applications in various industrial process control areas, including temperature control, motors, lamps, solenoids, valves, transformers, and others in end-use industries such as Energy and Infrastructure, Building Equipment, Food and Beverage, Healthcare, Automotive and transportation, Industrial Automation, and more. These relays, like SCR (silicon-controlled rectifier), thyristor power transistor, and TRIAC, are semiconductor on-off devices that switch electricity to a load when a small external voltage is applied across their control terminals. Solid-state relays offer advantages such as small size, low maintenance, and long operating life, meeting the need for infrastructure upgrades in various industries. They outperform electromechanical relays with their extended operating life, compact size, and capability to switch either AC or DC loads. The Solid-State Relay Market's growth is fueled by the increasing demand for upgrading aging power infrastructure in developed regions, along with the benefits offered by solid-state relays. Solid-state relay (SSR) ensures wear-free, silent, and incredibly quick switching operations making it appropriate for automotive applications, particularly in electric vehicles. Additionally, solid-state relay building equipment uses solid-state relays owing to their characteristics including low power consumption, quiet operation, accuracy, and reliability. Electric building equipment such as air conditioners, alarm and safety systems, automated doors, electric water heaters, and hand dryers with hot air require SSRs. As a result, the market grows over the forecast period owing to the rising demand for building equipment.

Market Snapshot :

Solid State Relay Market Report Coverage

The report: “Solid State Relay Industry Outlook – Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Solid-State Relay industry.

By Mounting Type: DIN Rail Mount, Panel Mount, PCB Mount, Others
By Output: AC/DC, AC/AC, DC/DC
By Phase: Single Phase, Three Phase
By Application: HVAC, Motor Control, EV Charging Station, Industrial Machineries, Printing & Packaging, Medical Equipment, Lighting Control, Fire & Security Systems, Others
By End Use: Energy & Infrastructure, Industrial OEM, Building Equipment, Automotive & Transportation, Food & Beverage, Healthcare, Industrial Automation, Others
By Geography: North America (Canada, Mexico, U.S), South America (Argentina, Brazil, Chile, Colombia, Rest of South America), Europe (France, Germany, Italy, Netherlands, Russia, Spain, UK, Rest of Europe), APAC (Australia, China, India, Taiwan, Japan, Malaysia, South Korea, Rest of APAC), and RoW (Africa, Middle East)

Key Takeaways

• Solid state relay is highly fragmented market so there are a large number of players are operating globally. Rather than international players, local players constitute majority of the market.
• The amount heat generated through thermal dissipation during the switching currents is another constraint that is affecting the solid-state relays market. Due to this heat dissipated, the solid-state relay has to be mounted on a good conductor surface such as aluminum using a transfer medium.
• Proper heat sinking system along with steady state current ratings have to be taken into consideration for the proper functioning of solid-state relays. Thereby a solution for the higher costs as well as protecting the systems from thermal dissipation can result in a positive solid state relay Industry outlook

Solid State Relay Market Share (%) By Geography, 2023
 
  

For more details on this report - Request for Sample

Solid State Relay Market Segment Analysis - By Output

AC/AC segment dominated the Solid-State Relay with a market share of approximately 37% in 2023. AC SSRs are available in various voltage and current ratings, allowing them to handle a wide range of loads. They can be used for low- power applications, as well as high-power applications, depending on the specific SSR model. AC solid state relays are back-to-back connected solid-state relays in which external contacts, operating in a circuit are energized by the same AC power line as is used for the load circuit. These are also known as switch closure inputs. The most commonly used output devices in AC solid state relays are Triacs (Thyristors) and silicon-controlled rectifiers. AC output solid-state relays provide fast switching, high reliability, noise-free operation, compact size, and enhanced control capabilities, making them suitable for a wide range of industrial, commercial, and residential applications.

Solid State Relay Market Segment Analysis - By End Use

Healthcare segment of Solid-State Relay Market is projected to reach a highest CAGR of 6.7% during the forecast period 2024-2030. Solid-state relays (SSRs) are utilized in a variety of medical and healthcare machines such as Medical Imaging Equipment, Laboratory and Analytical Instruments, Therapeutic Devices, Patient Monitoring Systems, and so on. SSR used in variety of application in medical and healthcare, such as to motors control of hospital beds, examination tables, rehabilitation equipment, heating controls in sterilization equipment, blood warming units, and incubators. The healthcare business is constantly incorporating new medical equipment and devices that rely on accurate electrical signal regulation. According to CDC statistics, 805,000 people in the United States experience a heart attack each year, with 605,000 of them being first-time heart attacks and 200,000 being caused by prior heart attacks, the rising number of people suffering from cardiovascular disorders is the primary driver of medical device demand in healthcare industry.

Solid State Relay Market Segment Analysis - By Geography

Geographically, in the global Solid State Relay Market share, Asia Pacific is analyzed to grow with a market share of 37.7% in 2023. The rising demand for solid-state relays in automotive and transportation industry in countries such as China and India are the major drivers of the growth market in this region. The energy consumption in these countries is constantly increasing in manufacturing, healthcare and other industrial applications, thus driving the growth of solid-state relays industry. In Asia, the major competing markets are China, Japan and South Korea. India and China are major contributors to the factory automation market, with their maturing production sector. The Asia-Pacific region emerged as the fastest-growing and the most favorable region, globally, for the industrial sector. Although the industrial sector is growing in this region, the global demand, due to the rising population, dominates the production capabilities. The increase in accuracy and repeatability of the work have become major anxieties while employing human labor.

Solid State Relay Market Drivers

Growing Penetration of 5G

Globally the increasing need to upgrade the power infrastructure in developed regions along with the usage of solid-state relays in new power infrastructure in emerging economies is expected to drive the growth of Solid State Relay Market. Solid state relays provide various kinds of benefits compared to traditional electro mechanical relays such as no movement of parts, ability to switch ON and OFF at a much faster rates than mechanical relays and eliminating electrical noise and transients. The lack of movement results in the elimination of wear and tear. They are used in applications where power control is needed such as communication lines, railway signaling, transformers, security systems and industrial applications. Hence, due to the aforementioned reasons the Solid State Relay Market size is expected to grow in the near future.

Smart SSRs and SSRs with integrated thermal protection technology to avail new market opportunities

Solid State Relays (SSRs) generate heat while conducting current. Overheating due to continuous high rate of operation can cause damage to the part, which may further result to halt in production. To avoid such scenarios, Solid State Relays are being developed with integrated thermal protection systems which cut down the circuit in case of overheating thereby protecting the component and the parent system from potential damage or shut down. These relays are being integrated with thermostats which continuously monitor the relay temperature, once the temperature reaches certain threshold value, it breaks open the circuit to avoid its failure. The adoption of smart thermostats is driving demand for solid state relays. According to data from two independent studies of actual Nest customers, smart thermostats can, on average, save customers between 10-12% on heating and 15% on cooling. Based on typical energy costs, Nest estimates that the average customer can expect to save roughly $140 per year on energy bills which is set to drive their demand. Additionally, the development of smart SSRs is also in play, these relays are being incorporated with an internal microcontroller and firmware. The pre-programmed software setting would allow tripping off the circuit when the temperature reaches certain limiting value. This is would extend the capabilities of the SSRs to protect the motors and other parent systems from overheating and breakdowns, thereby automating the process at much lower cost.

Solid State Relay Market Challenges

High Cost

The cost of purchasing a solid state relay is significantly higher than an electro mechanical relay and this is expected to be a significant challenge affecting the growth of the market in the near future. The ongoing technological advancements regarding the solid state relays is expected to reduce the price of the product. The reduction in these procurement prices of these solid state relays will boost the growth of the market exponentially. Even though the electromechanical relays are of low cost, the amount of money spent for various maintenances in the long run such as down time, repair time and manual labor will approximately be in the same range as that of solid state relays. Electromechanical relays approximately cost around $1-$5 while solid state relays cost more than $10-$15 at the lower end.

Solid State Relay Industry Outlook

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Solid State Relay Market. Solid State Relay top 10 companies include: 

1. OMRON
2. Sensata
3. Rockwell Automation
4. Schneider Electric SE
5. Vishay Intertechnology
6. Seimens
7. Carlo Gavazzi
8. Pheonix Contact
9. ABB
10. Fujitsu Ltd

Recent Developments 

• In February 2023, OMRON industrial automation added two new industrial relay designs to its existing product line. The slim-style relays are offered in mechanical or solid-state configurations and have a 6.2mm broad footprint.
• In September 2022, ABB is launching a new solid state circuit breaker to enable the next generation of safe, energy-efficient direct current (DC) power systems. DC power distribution is at the forefront of strategies to make shipping and marine vessels more sustainable and energy efficient.
• In October 2022, Carlo Gavazzi SSRs are available in a wide range of input ratings, output switching options and optional heatsinks; all while featuring ‘Direct Copper Bonding’ to provide improved protection against thermal stress.

For more Electronics Market reports, please click here