Market Analysis

Market Research Future (MRFR) projects the global Solid State Relay Market Share to reach USD 1.78 billion at a CAGR of 7.23% from 2019 to 2025 (forecast period).

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Key Players

MRFR has recognized a few companies as key players in the global Solid State Relay Market. These include Rockwell Automation, Inc. (US), Omron Corporation (Japan), General Electric (US), Fujitsu Limited (Japan), Teledyne Relays, Inc. (US), Crydom Inc. (US), ABB Ltd (Switzerland), Avago Technologies, Ltd (US), Omega Engineering Inc. (US), Celduc Relais (France), Vishay Intertechnology (Siliconix) (US), Infineon Technologies AG (Germany), Fairchild Semiconductor (US), Carlo Gavazzi Holding AG (Switzerland), and STMicroelectronics (Switzerland).

Apart from the players mentioned above, Texas Instruments Incorporated (US), Linear Technology (US), Arico Technology (Taiwan), Ametek (US), Eaton (Ireland), Broadcom Ltd (US), Ixys Integrated Circuits Division (US), and TE Connectivity (Switzerland) also have a noteworthy presence in the global solid state relay market.

COVID-19 Impact on the Global Solid State Relay Market 

The COVID-19 virus originated in China and is now spreading throughout the world. The pandemic has had an effect on many markets, both positively and negatively. During the pandemic crisis, the healthcare sector expanded exponentially; however, the manufacturing industry suffered. People's health and safety have risen to the top of the priority list, prompting governments in most countries to enact nationwide lockdowns. According to MRFR research, revenues in China fell by more than 20% during the first quarter of 2020. The spread of the coronavirus has brought the manufacturing sector to a halt. The exports of raw materials from China to other emerging markets have also been impacted. Solid state relays are commonly used in the production of industrial machinery, home electronics, transportation, and medical and communication equipment. The COVID-19 pandemic, on the other hand, has severely hampered demand in the consumer electronics and machinery industries.

Companies are actively investing in the RD of advanced solid state relays. Sensata Technologies, for example, announced the introduction of two new 3-phase DIN-rail and panel-mount solid state relays in November 2019. The PM67 and DR67 relays are VDE, UL, and CE accredited for global use in HVAC R, pump controls, plastic injection, industrial ovens, moulding, packaging, and food processing equipment. Post-lockdown, the new product releases are projected to increase demand for solid state relays in a variety of industries.

Market Segmentation

The global Solid State Relay Market Share has been segmented based on mounting type, output voltage, current rating, and application.

Based on mounting type, the global solid state relay market has been segmented into panel mount, PCB mount, DIN rail mount, and others.

Based on the output voltage, the global solid state relay market has been segmented into AC solid state relay, DC solid state relay, and AC/DC solid state relay.

Based on the current rating, the global solid state relay market has been segmented into low (0–20A), medium (20A–50A), and high (50A Above).

Based on application, the global solid state relay market has been segmented into industrial automation, building equipment, industrial OEM, energy infrastructure, automotive transportation, medical devices, food beverages, and others.

Regional Analysis

By region, the global Solid State Relay Market Share has been segmented into North America, Europe, Asia Pacific, the Middle East Africa, and Central South America.

In 2018, the North American region dominated the global solid state relay industry. The automotive, food and beverage, building equipment, and manufacturing industries have had a significant presence in the market. As a result, the market for solid state relays for use in various industrial process control applications has increased. The Asia Pacific region, on the other hand, is expected to experience the fastest growth in the solid state relay market during the forecast period. The rise of automation and industrialization in China, Japan, India, and South Korea has contributed to the expansion of the global solid state relay industry.

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