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Global Solid State Relay Market Report 2021: Market is Evaluated at $1.33 Billion in 2019 and is Projected to Grow at a Steady Pace During 2021-2026

·5-min read

Dublin, July 08, 2021 (GLOBE NEWSWIRE) -- The "Solid State Relay Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

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 the secure working temperature to direct dispersing heat produced by solid-state relay, towering expenditure, and 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 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 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 favorable 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 behavior 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 the secure working temperature to direct dispersing 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 aluminum 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 relay 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.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis

5. Solid State Relay Market Analysis, by Mounting Type
5.1. Introduction
5.2. Panel mount
5.3. Din rail mount
5.4. PCB mount

6. Solid State Relay Market Analysis, by Output Type
6.1. Introduction
6.2. AC relay
6.3. DC relay
6.4. Others

7. Solid State Relay Market Analysis, by End User Industry
7.1. Introduction
7.2. Healthcare
7.3. Food and Beverage
7.4. Automotive
7.5. Manufacturing
7.6. Construction
7.7. Energy and Power
7.8. Others

8. Solid State Relay Market Analysis, by Geography

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

  • Crydom

  • Carlo Gavazzi Holding

  • IXYS Integrated Circuits Division

  • Vishay Intertechnology

  • Omron Corporation

  • Broadcom Limited

  • Rockwell Automation

  • Teledyne Relays

For more information about this report visit https://www.researchandmarkets.com/r/1xp747

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