Solid State Relay Market Share

Global Solid State Relay Market Overview

Solid State Relay Market Size was valued at USD 1.26 Million in 2023. The Solid State Relay industry is projected to grow from USD 1.3245 Million in 2024 to USD 1.88 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.48% during the forecast period (2024 - 2032). High demand for medical devices to support market growth, surging demand for temperature control solutions, and growing applications across food and beverage industry features are the key market drivers boosting the growth of the Solid-State Relay market.  

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Solid State Relay Market Trends

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  Technology Advancement And Related Infrastructure Development.

  
  

As a result of product releases and innovations, the solid-state relay market is expanding. This is being done by market participants strategically to reduce the demand pool and increase their profit margins while the market is being evaluated. For example, new solid-state relays were launched in May 2022. By using a novel strategy to boost overall reliability, the TPSI3050-Q1 isolated switch driver, which has an integrated 10-V gate supply, and the TPSI2140-Q1 1,400-V, 50-mA isolated switch have completely changed power and signal isolation.

Further, the introduction of 5G and the upcoming 6G requires intense infrastructure development, equipment, and machinery, which ultimately requires a solid-state relay for better operations. Solid state relays due to their semiconductor-based functionality serve longer, need less power consumption, are efficient for temperature control elements, and more. Relays are also used in robots, data centers, weapons, electric vehicles, and consumer electronics which are witnessing immense growth and are expected to further drive the market in the coming years. This will open numerous opportunities doors for the market players to expand and exploit the growth opportunities, especially across emerging economies like China and India.

Solid State Relay Market Component Segment Insights:

Solid State Relay Type Insights

Based on type, the Solid State Relay Market segmentation includes DC to AC, DC to DC, AC to DC, and AC/DC to AC. The AC/DC to AC held the majority share in 2022, contributing around ~29.1% to the market revenue. The AC/DC to AC types of solid-state relays are built for use with both AC and DC voltages. AC/DC to AC SSRs comes with separate terminals for DC and AC inputs and the rectifying circuit. The AC/DC to AC type SSRs are estimated to reach a valuation of 605.9 USD million in 2032 from 355.3 USD million in 2022, growing at a CAGR of 5.9%.

FIGURE 2: SOLID STATE RELAY MARKET, BY TYPE, 2022 VS 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Solid State Relay Mounting Insights

Based on mounting, the Solid State Relay Market segmentation includes Panel Mount, PCB Mount, Din Rail Mount, and Others. The Panel Mount held the majority share in 2022. Panel mount solid state relay types are designed for installation onto a panel and are also known as surface-mounted relays. Due to their small size, they are mostly used in consumer and industrial applications. The panel mount segment is expected to grow at a CAGR of 7.7% creating an absolute $ opportunity of 452.4 USD million during the forecast period.

Solid State Relay Output Voltage Insights

Based on output voltage, the Solid State Relay Market segmentation includes DC Solid State Relay and AC Solid State Relay. The AC Solid State Relay held the majority share in 2022. AC SSR can only be used with loads that require an AC power supply. AC SSR segment is expected to reach a valuation of 1,280.9 1.88 USD million in 2032 from 666.1 USD million in 2022, growing at a CAGR of 7.2% during the forecast period.

The single-phase solid-state relay is the common type of AC SSR. These devices are designed to switch a single phase of the AC load voltage. The segment is expected to register a growth rate of 5.2% and reach a valuation of 202.2 USD million by the end of 2032. The three-phase solid-state relay is designed for use with loads that require a three-phase power supply. These include large electric motors. The segment is expected to register a growth rate of 7.6% and reach a valuation of 1,078.7 USD million by the end of 2032.

Solid State Relay Current Rating Insights

Based on current rating, the Solid State Relay Market segmentation includes Low (0-20A), Medium (20A-50A), and High (50A and Above). Medium (20A-50A) held the majority share in 2022. SSRs are made to handle medium-range currents, which are those that lie between 20 and 50 amperes, and are covered under the medium current ratings category. When moderate to high power switching is needed, these are utilized in process control systems, HVAC machinery, and industrial machinery. In 2022, the segment's valuation was 579.4 USD million.

Solid State Relay Application Insights

Based on application, the Solid State Relay Market segmentation includes Industrial Automotion, Building Equipment, Energy & Power, Automotive & Tranportation, Food & Beverage, Military & Defense, and Others. The Industrial Automation held the majority share in 2022. Industrial automation segment is likely to project a growth rate of 8.3% during the forecast period and creating an absolute $ opportunity of US$ 398.2 million during the forecast period. The growth is attributed to the growing trend of upgrading and automating factories and manufacturing units to cope up with modern scenario. In industrial automation segment the SSRs are used in control heating elements in industrial ovens, furnaces, and heating systems, control lighting, conveyor belts, welding equipment, and others probably used in every manufacturing unit across each industry, thus, driving the segment growth.

Solid State Relay Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and South America. The Asia Pacific Solid State Relay market accounted for ~35.1% in 2022. The Asia-Pacific market is likely to grow at a CAGR of 9.1% during the forecast period. The growth is attributed to the growing industrial automation industry, surging government investment in military and defense creating immense growth opportunities for the given market players in coming years across the country. For instance, as per the Ministry of Finance in China, China is set to increase defense spendin in 2023 by 7 2% to 230 USD billion China’s defense bud et grew by 7.1% last year faster than the 6.8% increase in 2021 and the 6.6% climb in 2020.

Similarly, in India, according to the Indian Brand Equity Foundation, India has the world's third-largest defense expenditure, as of 2021, and expects to export equipment worth 15 USD billion by 2026. The government in India also focuses on in-house weapons and defense equipment manufacturing which drives the SSRs market during the assessment period. The SSRs are used in vehicles, motors, and other parts of the weapons, aircraft, and vehicles used for military purposes.

FIGURE 3: SOLID STATE RELAY MARKET SIZE BY REGION 2022 VS 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, France, the UK, Italy, Spain, China, India, Japan, South Korea, Saudi Arabia, UAE, South Africa, Argentina, and Brazil.

The growing government investment in energy and power across the region will drive market growth across the region. For instance, The Canadian government has announced a plan to invest 130.23 USD million in 12 Alberta-based clean energy projects. Further, the U.S. is poised to invest more than half a trillion dollars in clean energy and climate action during the coming decade. In addition, Mexico is about to deploy 30 gigawatts in renewable energy capacity by 2030, as per the Foreign Ministry of Mexico. Hence, with the growing investment in renewable energy projects, the SSR market is likely to witness immense growth opportunities in the coming years across the region. SSR is used for various purposes in the energy and power sector such as voltage regulation, power factor, and others.

Solid State Relay Key Market Players& Competitive Insights

With a strong presence across different verticals and geographies, the Solid State Relay market is highly competitive and dominated by established, pure-play vendors. The vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Solid State Relay market is highly competitive, with many vendors offering similar products and services.

The major players in the market include Crydom Inc. (Sensata Technology), Omron Corporation, Schneider Electric, ABB Ltd., IXYS Corp. (Littelfuse), and STMicroelectronics Industries Corporation constantly takes on new challenges to ensure the stability of its management foundation by extending its reach into business fields such as engine production, vehicle assembly, and the development and production of lift trucks and car air-conditioning compressors. It concentrates on broadening its product offerings to reach new audiences in the global market.

The Solid State Relay Market is consolidated, increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Solid-State Relay market include.

• Crydom Inc. (Sensata Technology)


• Omron Corporation


• Schneider Electric


• ABB Ltd.


• IXYS Corp.. (Littelfuse)


• STMicroelectronics


• Rockwell Automation Inc.


• General Electric


• Vishay Intertechnology (Siliconix)


• Fujitsu Limited


• Carlo Gavazzi Holding AG


• Honeywell International Inc


• Texas Instruments Inc.

Solid State Relay Industry Developments

• In September 2023, Texas Instruments launched a new solid-state relay (SSR) portfolio that integrates power and signal transfer in a single chip, while also eliminating at least three components from their designs. The SSRs are designed to provide industry-leading reliability and high accuracy for improved system safety. TI's SSRs can reduce the number of moving parts in a design and enable basic isolation up to 3.75 kVrms and reinforced isolation up to 5 kVrms.


• In March 2023, Carlo Gavazzi Holding AG has launched the NRG digital solid-state relays with an EtherCAT interface. This system of digital solid-state relays allows for real-time switching, monitoring, and diagnostics via EtherCAT.

Solid State Relay Market Segmentation

Global Solid State Relay Type Outlook

• DC to AC


• DC to DC


• AC to DC


• AC/DC to AC

Global Solid State Relay Mounting Outlook

• Panel Mount


• PCB Mount


• Din Rail Mount


• Others

Global Solid State Relay Output Voltage Outlook

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  DC Solid State Relay
  
  
  
  • Constant Current 
  
  
  • Resistive Current
  
  
  
  


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  AC Solid State Relay
  
  
  
  • Single Phase
  
  
  • Three-Phase
  
  
  
  

Global Solid State Relay Current Rating Outlook

• Low (0-20A)


• Medium (20A-50A)


• High (50A and above)

Global Solid State Relay Application Outlook

• Industrial Automation


• Building Equipment


• Energy & Power


• Automotive & Transportation


• Food & Beverage


• Military & Defense


• Others

Solid State Relay Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  • South Africa
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  South and Center America
  
  
  
  • Argentina
  
  
  • Brazil
  
  
  • Rest of South America