The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Solid State Relay Market Size. The growth sectors of the Solid State Relay Market Size are identified with precision for a better growth perspective.
Electricity or power plays a significant role in society. Given the amount of power that is used to perform the day-to-day activities as well as industrial operations, power outage can bring everything to a standstill. Massive industrial growth around the world has propelled the use as well as congestion of electricity.
This is where solid-state relays come into the picture, to deal with these kinds of issues. Solid state relay can be described as a type of electronic device that helps switch the power supply on and off. The system comprises a miniature sensor that helps turn off a high voltage electric signal and avoid electric shocks as well as high voltage load on the appliances. With the emergence of solid-state relay, the growth of the consumer electronics and semiconductors and integrated circuits industry has been noted globally in recent years.
Solid State Relay Industry Dynamics
The current scenario involves more and more research and development shifting towards compact, low maintenance and automated products. The solid state relay industry possesses a massive potential across a variety of applications. Some of the factors that are inducing the expansion of the solid state relay industry include the soaring demand for upgraded power of infrastructure that are aging, rising establishment of offshore Wind farm, increasing number of startup companies that offer solutions and the advantages of using sold state relay including their flexibility, compact size and less need for maintenance.
Solid state relays have several applications within the parent market, for instance the deployment of smart grid systems at homes. A smart grid system refers to a network of electric transmission that comprises almost every electric appliance at home, acting as a central point for its regulation. A Smart Grid system is touted to be an unparalleled and lucrative opportunity for the energy sector to gain entry in the epoch of efficiency and reliability that can enhance the environmental health and also elevate the overall economy. A smart grid system refers to an electronic device that comprises a solid-state relay switch, therefore boosting the demand for the latter in the consumer electronics market. Advancements in the industry is leading to evolvement of critical testing as well as development of standards and regulations of solid-state relays.
Latest Developments in the Solid State Relay Industry
November 2019
Last year, Sensata Technologies developed two 3-phase DIN rail as well as panel- mount solid state relays. The PM67 and DR67 are VDE, CE and UL certified for extensive use in applications including HVAC&R, pump controls, plastic injection, industrial ovens, food processing equipment, packaging equipment and molding, across the globe.
Regional Demand for Solid State Relay
Asia Pacific or APAC is one of the strongest markets for solid state relay and can gain high traction in the coming years. Emerging countries in the region like Japan and China are the leading markets for solid state relay in the region. China is a prominent contributor in the SSR market growth, thanks to its large-scale industrial as well as manufacturing sectors. Mounting demand for the up gradation of the dilapidated power infrastructure in developing economies in the region boosts the demand for the solid state relays market.
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Solid State Relay Market SizeThe global solid state relay market is expected to depict a significant market growth during the forecast period.
Over the past few decades, solid state relays have replaced electromechanical relays owing to low energy consumption and high efficiency with extended operating life.
Thus, the inputs fed to these relays is isolated from the actual load in the circuit.
Furthermore, miniaturization of electronic devices has encouraged the device manufacturers to focus on developing highly efficient solid state relays.
However, high costs of solid state relays and changing quality standards across geographies might hamper the market growth in the near future.The global solid state relay market has been segmented on the basis of mounting type, output voltage, current rating, application, and region.Key PlayersThe key players in the solid state relay market are identified across all the major regions based on their countries of origin, presence across different regions, recent key developments, product diversification, and industry expertise.
Some of them are General Electric (US), Avago Technologies, Ltd (US), Omega Engineering Inc. (US), Crydom Inc. (US), Celduc Relais (France), Infineon Technologies AG (Germany), Omron Corporation (Japan), Fujitsu Limited (Japan), Rockwell Automation, Inc. (US), Teledyne Relays, Inc. (US), ABB Ltd (Switzerland), Carlo Gavazzi Holding AG (Switzerland), Vishay Intertechnology (Siliconix) (US), Fairchild Semiconductor (US), and STMicroelectronics (Switzerland).
According to Market Research Future (MRFR), the global Solid State Relay market is expected to develop from USD 1.09 billion in 2018 to USD 1.78 billion by 2025, with a CAGR of 7.23% from 2018 to 2025 (forecast period).
The solid state relay market report explores the impact of COVID-19 on the market, including potential opportunities and challenges, drivers and risks, and market growth projections focusing on various scenarios.
Solid state relays are designed to switch both AC and DC currents using a silicone-controlled rectifier (SCR), a triode for alternating current (TRIAC), or switching transistor output instead of the usual mechanical normally-open (NO) contacts.
In addition, long operating life and less maintenance of solid state relays have compelled manufacturers to replace electromechanical relays with solid state relays.
These include Omron Corporation (Japan), Rockwell Automation, Inc. (US), Teledyne Relays, Inc. (US), ABB Ltd (Switzerland), General Electric (US), Avago Technologies, Ltd (US), Crydom Inc. (US), Omega Engineering Inc. (US), Celduc Relais (France), Fujitsu Limited (Japan), Infineon Technologies AG (Germany), Carlo Gavazzi Holding AG (Switzerland), Vishay Intertechnology (Siliconix) (US), Fairchild Semiconductor (US), and STMicroelectronics (Switzerland).
Get Free Sample Report@ https://www.marketresearchfuture.com/sample_request/8645 Market Segmentation The global market for solid state relay has been segmented based on mounting type, output voltage, current rating, and application.
Solid State Relay Market Size 2021-2027New Study Reports " Solid State Relay Market Size 2021, Global Key Players Analysis, Share, Trends, Future Opportunities Forecasts 2027" has been Added on MarketResearchFuture.Report OverviewThis published report for the Solid State Relay Market Size analyzes and forecasts the marketing statistics of the product/service market on a global as well as the regional level.
This detailed study also offers the previous historical data along with the forecast from 2021 to 2027.
In addition to this, the report also studies the opportunities that are available in the report at the global level.
The increase and decrease in the product/service budget also play an important role in predicting the future growth of the Solid State Relay Market Size.
Some of them are Omega Engineering Inc. (US), Omron Corporation (Japan), Fujitsu Limited (Japan), ABB Ltd (Switzerland), General Electric (US), Fairchild Semiconductor (US), STMicroelectronics (Switzerland), Crydom Inc. (US), Celduc Relais (France), Infineon Technologies AG (Germany), Rockwell Automation, Inc. (US), Teledyne Relays, Inc. (US), Avago Technologies, Ltd (US), Carlo Gavazzi Holding AG (Switzerland), and Vishay Intertechnology (Siliconix) (US).
Since the structure of these mounts is designed as per industry standards, it is highly accepted across geographies.Based on output voltage, the global Solid State Relay Market Size has been segmented into AC solid state relay, DC solid state relay, and AC/DC solid state relay.
