The global solid state relay market was valued at around US$ 970 Mn in 2021. By 2032, the global sales in the market are estimated to reach US$ 1,680 Mn, registering growth at a CAGR of 6.7% during the forecast period (2022-2032).
Report Attribute
Details
Estimated Base Year Value (2021)
US$ 970 Million
Expected Market Value (2022)
US$ 1,090 Million
Anticipated Forecast Value (2032)
US$ 1,680 Million
Projected Growth Rate (2022 to 2032)
6.7% CAGR
A smart grid system is an electronic device comprises of solid-state relay switch that averts the disruption of the electric supply by detecting high voltage and uniformly distributing the power. Increasing application of solid state relay across various industries will spur the sales in the market.
In the automotive sector, growing adoption of solid state relay in the electric car batteries, speed controlling units, and other low maintenance and compact automotive parts will further create conducive environment for the growth of the market.
Apart from this, introduction of advanced automotive vehicles and adoption of electric vehicles and hybrid vehicles will boost the sales of solid state relay in the upcoming years.
Further, advancements in consumer electronics and semiconductor sectors will propel the demand for solid state relay in the market. Likewise, the demand for technologically advanced power infrastructure, especially across the U.S., is likely to increase the sales of solid state relays.
What are Key Trends Fueling the Growth of Solid State Relay Market?
Rising demand for automation and digitalization in the consumer electronics, healthcare, and other end-user industries is driving the growth of the market.
Additionally, growing need for solid state relay in electromechanical relays or contactors for application in various industrial process controls, such as motors, valves and transformers, and others, is projected to bolster the growth.
Moreover, expansion of end-use industries, including medical & healthcare, semiconductor & electronics, automotive, and others, coupled with advancement in technologies will augment the sales of solid state relay in the market.
According to International Energy Agency (IEA), the State Grid Corporation of China decided to invest US$ 3.5 Million in digital infrastructure, in 2020, to fund tech-based projects for improving the economy.
Likewise, in 2021, China’s National Development and Reform Commission and the State Grid Corporation of China together commenced a pilot project to launch a green-energy trading platform related to blockchain technology.
Hence, integration of cutting-edge technologies such as Internet of Things (IoT) have improved the production of smart grids for smart cities, thereby, propelling the sales in the market.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
What are the Factors Impeding the Growth in Solid State Relay Market?
As per FMI’s analysis, growing concerns regarding the maintenance of temperature for the proper dissipation of heat generated by solid state relay is likely to act as a barrier for the growth in the market.
Additionally, high initial and maintenance cost compared to the electromechanical relays (EMR) is anticipated to further hamper the sales in the market.
Subsequently, existence of continuous leakage in the switching OFF solid state relay is most likely to inhibit its application in the coming years. However, the ongoing technological advancements in the solid state relays is expected to improve its functionality and lower the prices, favoring the growth.
Will Asia Pacific Emerge as a Leading Solid State Relay Market?
As per Future Market Insights (FMI), Asia Pacific is estimated to hold a largest share in the global solid state relay market. Growing demand for electronic devices in developing countries such as China, India, Japan, South Korea, Taiwan, and Singapore is projected to increase the demand in the market.
In addition to this, integration of semiconductors in a wide range of devices such as material handling equipment, HVAC equipment, building equipment, and others is expected to create lucrative growth prospects for the market players in the region.
Growing presence of building and industrial automation equipment providers in Asia Pacific is projected to back its presence in the international market in the coming years.
Furthermore, presence of leading manufacturers such as Omron and Fujitsu in Japan will improve the growth in Asia Pacific market.
Find your sweet spots for generating winning opportunities in this market.
How will North America Solid State Relay Market Fare?
According to FMI, North America is estimated to exhibit an impressive growth in the solid state relay market during the forecast period (2022-2032). Rising investments in electronic devices and equipment manufacturing sector and growing number of power plants & data centers in the U.S. and Canada, will trigger the market growth.
Also, stringent government regulations and rising environmental concerns regarding is increasing the demand for electric vehicles, which, in turn, spurring the demand for solid state relay.
According to the Department of Energy (DOE), in 2019, around 68,800 Level 2 and DC fast charging units were present in the U.S., from which 16% were DC fast chargers that made long-distance travel possible for electric vehicles, compared to 16,000 public electric vehicle charging stations in 2017.
Market Competition
Some of the leading manufacturers operating in the global solid state relay market include Crydom Inc., ABB Ltd, Vishay Intertechnology (Siliconix), Linear Technology, Texas Instruments Incorporated, International Rectifier, Rockwell Automation Inc., STMicroelectronics, Fairchild Semiconductor, Carlo Gavazzi Holding AG, and Infineon Technologies AG, among others.
Key players in the solid state relay market are advancing their product line and manufacturing operations to gain competitive edge and strengthen their global footprints.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Scope Of Report
Report Attribute
Details
Growth Rate
CAGR of 6.7% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2015 to 2020
Forecast Period
2022 to 2032
Quantitative Units
Revenue in US$ Million and CAGR from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered
Packaging Type
Output Type
Power Rating Type
Application
Region
Regions Covered
North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa
Key Countries Profiled
USA
Canada
Brazil
Argentina
Germany
UK
France
Spain
Italy
Nordics
BENELUX
Australia & New Zealand
China
India
ASEAN
GCC
South Africa
Key Companies Profiled
Crydom Inc.
ABB Ltd
Vishay Intertechnology (Siliconix)
Linear Technology
Texas Instruments Incorporated
International Rectifier
Rockwell Automation Inc.
STMicroelectronics
Fairchild Semiconductor
Carlo Gavazzi Holding AG
Infineon Technologies AG
Customization
Available Upon Request
Key Segments Profiled in the Solid State Relay Industry Survey
Packaging Type:
Panel Mount
Din Rail Mount
PCB Mount
Output Type:
AC Solid State Relay
DC Solid State Relay
AC/DC Output Relay
Power Rating Type:
Low Power (0-20A)
Medium Power (20A-50A)
High Power (50A & Above)
Application:
Consumer Application
Control Power Distribution
Handling Electrical Devices
Access Control
Elevator Control
Others
Cooking Appliances
Microwave Oven
Automatic Coffee Machine
Others
Medical & Healthcare Sector
Diagnosis & Analysis Devices
Incubators
Others
Automotive and Transportation Sector
Electric Vehicles
Train Control Systems
I/O Interfaces
Others
Region:
North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Japan
Middle East & Africa
Frequently Asked Questions
What was the market size of the solid state relay market during 2021?
According to FMI, the solid state relay market reached a valuation of US$ 970 Million in 2021.
What is pected market revenue share of the global solid state relay market during 2022-2032?
The global solid state relay market is expected to reach US$ 1,680 Million during the forecast period (2022-2032).
Who are the leading manufacturers in solid state relay market?
Some of the leading players operating in the global solid state relay market include STMicroelectronics, Fairchild Semiconductor, Carlo Gavazzi Holding AG, and Infineon Technologies AG, among others.
