Solid State Relay Market

APAC expected to be the fastest-growing market for Solid State Relay in the near future

The solid state relay market is estimated to be USD 1.2 billion by 2019 and is expected to reach USD 1.6 billion by 2024, at a CAGR of 5.7%. A solid state relay (SSR) is a semiconductor device that is used to switch electricity to a load when a small external voltage is applied across control terminals. These solid state relays can be designed to switch either AC or DC to the load. The various types by which SSRs can be mounted in a circuit includes panel mount, PCB mount, and DIN Rail mount. These SSRs are used in industrial automation, building equipment, energy and infrastructure, food & beverages, industrial OEM, medical, and automotive and transportation applications. Increasing digitization and automation in the consumer electronics industry; growing modernization of electric vehicles; robust features of SSR, such as high switching frequency and resistance to shock and vibration; and low noise while operating, long operating life, and low maintenance and compact size of SSR are the major factors driving the growth of the market.

The market for PCB-mount SSR is expected to grow at the highest CAGR from 2019 to 2024. The PCB-mount SSRs are comparatively smaller with built-in heat sink for high surge current capability, making them suitable for applications such as electromagnetic waves, electric machines, and filament lamp control. Growing demand for miniaturization of electrical circuits is fuelling demand for PCB-mount SSRs in automotive owing to their compact size and lightweight properties.

The AC/DC SSR market is estimated to grow at the highest CAGR from 2019 to 2024. The AC/DC output relays are used for switching both AC and DC outputs. The low current ratings of AC/DC relays limit its scope of usage in various application segments; however, the adoption of AC/DC relays in automotive and transportation is expected to aid the growth of this market during the forecast period.

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The high current rating SSR market is estimated to grow at the highest CAGR from 2019 to 2024. The high (50A & above) current rating SSRs are mainly used in building equipment, and energy and infrastructure. SSRs with high current ratings (150A and above) are expensive due to their power semiconductor and heat-sinking requirements Increasing use of high current rating SSR in elevators, conveyor systems, and machine tools is fuelling the growth of this market.

Automotive and transportation is expected to register the highest CAGR in the solid state relay market during the forecast period. The major use of SSR is in mobile HVAC systems, which are used in various types of transportation systems, including rail, bus, aircraft, and truck. Growing demand for electric vehicles is supporting the high growth rate of SSR in automotive and transportation. SSRs offer exceptional performance in a panel-mounted industrial package, which has an efficient thermal design. SSRs offer superior solid state performance for high-power demanding applications and are also an ideal choice for automobiles as they offer variable load control.

APAC is expected to be the fastest-growing market for solid state relay during 2019–2024. China and Japan are the countries driving the growth of the SSR market in APAC. APAC has huge growth potential for the SSR market. The market growth in this region can be attributed to the tremendous growth of automotive, food & beverages, building equipment, and manufacturing industries in emerging economies such as China, Japan, India, and South Korea.

Related Reports:

Solid State Relay Market by Mounting Type (Panel, PCB, DIN Rail), Output Voltage (AC, DC, AC/DC), Current Rating (Low, Medium, High), Application (Industrial Automation, Building Equipment, Industrial OEM), and Geography - Global Forecast to 2024

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