Solid State Relay Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022-2027
Solid State Relay Market Overview
The Solid State Relay (SSR) market size is estimated to grow at a CAGR of 6.9% during 2022-2027 to reach revenue of $2.1 billion by 2027. Solid State Relays are used or applied in various industrial process control applications, such as temperature control, motors, lamps, solenoids, valves and transformers, and others in numerous end-use industries like Energy and Infrastructure, Building Equipment, Food and Beverage, Healthcare, Automotive & Transportation, Industrial Automation and others. Various advantages such as small size, less maintenance, & long operating life coupled with the need for up-gradation of existing infrastructure in numerous industries. Solid state relays are semiconductor on-off devices which switch electricity to a load when a small external voltage is applied across its control terminals. Some of the examples of solid state relays are SCR (silicon controlled rectifier), thyristor power transistor & TRIAC. Solid state relay has advantages over electromechanical relays such as long operating life, small size, less maintenance, and are designed to switch either AC or DC to the load. Solid state relay market size growth is driven by growing demand for up-gradation of aging power of infrastructure in developed regions coupled with benefits offered by solid state relay.
Solid State Relay Market Report Coverage
The report: “Solid State Relay Industry Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Solid State Relay industry.
- Solid state relay is highly fragmented market so there are a large number of players are operating globally. Rather than international players, local players constitutes majority of the market.
- The amount heat generated through thermal dissipation during the switching currents is another constraint that is affecting the solid state relays market. Due to this heat dissipated, the solid state relay has to be mounted on a good conductor surface such as aluminum using a transfer medium.
- Proper heat sinking system along with steady state current ratings have to be taken into consideration for the proper functioning of solid state relays. Thereby a solution for the higher costs as well as protecting the systems from thermal dissipation can result in a positive solid state relay Industry outlook
Global Solid State Relay Market, By Output, 2021
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Solid State Relay Market Segment Analysis - By Output
DC Solid state relays held a major share in the market owing to its simplest design, low cost, fast switching response and other benefits. The revenue from DC SSR is set to reach revenue of $880m by 2027 growing at a CAGR of 6.8% during the forecast period of 2022-2027. These relays are similar to electromechanical relays but the main difference between them is, in solid state relays, moving mechanical parts are not present. These are used to reduce electrical noise and the back-EMF which is associated with inductive loads for thyristors and transistors. By this, the major advantage is zero turn off. They are generally used in telecommunications, data communications, electronic and industrial appliances, automation, manufacturing equipment, medical equipment, lightings, fire & security systems, instrumentation and other machines. They have many benefits such as resistance to shock and vibration, zero voltage turn on, high reliability, fast response, arc less switching.
Solid State Relay Market Segment Analysis - By Industry
Solid State Relay Market Segment Analysis - By Geography
Asia Pacific region is the largest market of solid-state relay market accounting for 37% of the total share in 2021, growing at a CAGR of 6.4% during 2022-2027. The rising demand for solid-state relays in automotive and transportation industry in countries such as China and India is the major driver of the growth of the market in this region. The energy consumption in these countries is constantly increasing in manufacturing, healthcare and other industrial applications, thus driving the growth of solid-state relays industry. In Asia, the major competing markets are China, Japan and South Korea. India and China are major contributors to the factory automation market, with their maturing production sector. Much of this has been due to offshore assembling for major multinational firms by contract manufacturing companies. With the rewards of a vast raw material reserve and cheap labour, the Asia-Pacific region emerged as the fastest-growing and the most favourable region, globally, for the industrial sector. Although the industrial sector is growing in this region, the global demand, due to the rising population, dominates the production capabilities. The increase in accuracy and repeatability of the work have become major anxieties while employing human labour
Solid State Relay Market Drivers
Growing Penetration of 5G
Globally the increasing need to upgrade the power infrastructure in developed regions along with the usage of solid state relays in new power infrastructure in emerging economies is expected to drive the growth of solid state relay market. Solid state relays provide various kinds of benefits compared to traditional electro mechanical relays such as no movement of parts, ability to switch ON and OFF at a much faster rates than mechanical relays and eliminating electrical noise and transients. The lack of movement results in the elimination of wear and tear. They are used in applications where power control is needed such as communication lines, railway signaling, transformers, security systems and industrial applications. Hence, due to the aforementioned reasons the solid state relay market size is expected to grow in the near future.
Smart SSRs and SSRs with integrated thermal protection technology to avail new market opportunities
Solid State Relays (SSRs) generate heat while conducting current. Overheating due to continuous high rate of operation can cause damage to the part, which may further result to halt in production. To avoid such scenarios, Solid State Relays are being developed with integrated thermal protection systems which cut down the circuit in case of overheating thereby protecting the component and the parent system from potential damage or shut down. These relays are being integrated with thermostats which continuously monitor the relay temperature, once the temperature reaches certain threshold value, it breaks open the circuit to avoid its failure. The adoption of smart thermostats is driving demand for solid state relays. According to data from two independent studies of actual Nest customers, smart thermostats can, on average, save customers between 10-12% on heating and 15% on cooling. Based on typical energy costs, Nest estimates that the average customer can expect to save roughly $140 per year on energy bills which is set to drive their demand. Additionally the development of smart SSRs are also in play; these relays are being incorporated with an internal microcontroller and firmware. The pre-programmed software setting would allow tripping off the circuit when the temperature reaches certain limiting value. This is would extend the capabilities of the SSRs to protect the motors and other parent systems from overheating and breakdowns, thereby automating the process at much lower cost.
Solid State Relay Market Challenges
The cost of purchasing a solid state relay is significantly higher than an electro mechanical relay and this is expected to be a significant challenge affecting the growth of the market in the near future. The ongoing technological advancements regarding the solid state relays is expected to reduce the price of the product. The reduction in these procurement prices of these solid state relays will boost the growth of the market exponentially. Even though the electromechanical relays are of low cost, the amount of money spent for various maintenances in the long run such as down time, repair time and manual labor will approximately be in the same range as that of solid state relays. Electromechanical relays approximately cost around $1-$5 while solid state relays cost more than $10-$15 at the lower end.
Solid State Relay Industry Outlook
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Solid State Relay Market. Solid State Relay top 10 companies include:
- Crydom Inc (Sensata Technology)
- Omron Corporation
- Celduc Relais
- Rockwell Automation (Allen Bradley)
- Carlo Gavazzi
- Omega Engineering
- Vishay Intertechnology
- Schneider Electric
- In May 2022, TI drives isolation technology forward with new solid-state relays that provide industry-leading reliability. The TPSI3050-Q1 isolated switch driver with an integrated 10-V gate supply and the TPSI2140-Q1 1,400-V, 50-mA isolated switch both integrate power and signal isolation across a single barrier using a unique approach that improves reliability.
- In December 2021, Gefran introduced GRP-H, the first range of single-phase solid-state relays with IO-Link digital communication protocol on the market. The GRP-H series, an evolution of the GRS-H series which belongs to the innovative GR platform dedicated to SSRs.
- In March 2021, Solid State has acquired Willow Technologies, a manufacturer and value-added distributor of electromechanical products. The acquisition complements Solid State’s existing value-added distribution activity, adding the Durakool range of own-brand electromechanical relays and contactors
Relevant Report Titles:
Report Code: AIR 0375
Report Code: AM 18487
Report Code: ESR 0076
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