The Business Research Company’s report on the Solid State Relay Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the solid state relay market?
The rise in demand for electric vehicles (EVs) is expected to propel the solid-state relay market going forward. Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries. It operates on electric motors and charges its batteries with electricity rather than utilizing fossil fuels such as gasoline or diesel. Solid-state relays offer longer operating lives than mechanical relays while at the same time offering higher battery isolation capability in EVs. These adoptions lead to increased demand for EVs and hybrid vehicles, a change from petroleum products to more sustainable power vehicles. For instance, in April 2024, according to the International Energy Agency, a France-based intergovernmental autonomous organization, in 2023, nearly 14 million electric cars were sold worldwide, accounting for 18% of total car sales, up from 14% in 2022. Therefore, increased demand for electric vehicles drives the solid-state relay market.
Access Your Free Sample of the Global Solid State Relay Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=8074&type=smp
How has the solid state relay market size evolved, and what are the latest forecasts for its expansion?
The solid state relay market size has grown strongly in recent years. It will grow from $1.47 billion in 2024 to $1.59 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to increasing demand for energy-efficient solutions, growing automation and industrialization, enhanced reliability and longevity, temperature and vibration resistance, wide operating voltage range, automotive and transportation sector.
The solid state relay market size is expected to see strong growth in the next few years. It will grow to $2.1 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to renewable energy integration, electrification of vehicles, increasing in medical equipment applications, telecommunications infrastructure, data center applications, smart grid implementation. Major trends in the forecast period include advancements in semiconductor technology, digital SSRs and intelligent control, high reliability and long lifecycle, integration of fault detection and diagnostics.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=8074&type=smp
Which major companies dominate the solid state relay market?
Major companies operating in the solid state relay market are Crydom Inc., Omron Corporation, Carlo Gavazzi Holding AG, Vishay Intertechnology Inc., Rockwell Automation Inc., ABB Ltd., Sensata Technologies Holding CO U.S. B.V., Teledyne Relays Inc., Eaton Corporation, TE Connectivity, Celduc Relais, Infineon Technologies, IXYS Corporation, Panasonic Corporation, Durex Industries, Crouzet Automatismes SAS, Advanced Energy Industries Inc., HONGFA Technology Co. Ltd., Axicom Technology Co. Ltd., Bourns Inc.
What trends will shape the future of the solid oxide fuel cell market?
Major companies operating in the solid-state relay market are focused on developing innovative products such as automotive-qualified isolated drivers and switches to improve reliability and safety in electric vehicles and high-voltage systems. Automotive-qualified isolated drivers and switches are components that ensure safe control of high-voltage circuits in vehicles, meeting automotive safety and reliability standards. For instance, in May 2022, Texas Instruments, a US-based semiconductor company, introduced a new portfolio of solid-state relays, which includes automotive-qualified isolated drivers and switches that provide industry-leading dependability and contribute to the safety of electric vehicles (EVs). In addition, the newly isolated solid-state relays enable the smallest solution size while lowering the cost of the powertrain and the safety of the 800-V battery-management system.
Which region dominates the solid state relay market, and what factors contribute to its leadership?
Asia-Pacific was the largest region in the solid state relay market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the solid state relay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/solid-state-relay-global-market-report
How is the solid state relay market segmented, and which segment holds the largest share?
The solid state relay market covered in this report is segmented –
1) By Mounting Type: Panel, PCB, DIN Rail, Other Mounting Types (Plug-in)
2) By Output: AC SSR, DC SSR, AC Or DC Output SSR
3) By Power Rating: Low(0-20A), Medium(20A-50A), High(>50A)
4) By Industry: Energy And Infrastructure, Industrial OEM, Building Equipment, Food And Beverages, Automotive And Transportation, Industrial Automation
Subsegments:
1) By Panel: Flush Mount, Surface Mount
2) By PCB: Through-Hole PCB Mount, Surface-Mount PCB Relay
3) By DIN Rail: Standard DIN Rail Mount, Modular DIN Rail Mount
4) By Other Mounting Types (Plug-In): Plug-In Modules, Socket Mounts
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8074
How is the solid state relay market defined?
Solid state relays are semiconductors similar to electromechanical relays that can manage electrical loads without the use of moving parts. This relay has no moving parts and instead performs input-to-output isolation and switching operations by utilizing the electrical and optical features of solid-state semiconductors.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
