Solid-State Relay Market Report: Trends, Forecast and Competitive Analysis to 2030

Solid-State Relay Market Trends and Forecast

The future of the global solid-state relay market looks promising with opportunities in the industrial automation, building equipment, industrial OEM, energy & infrastructure, automotive & transportation, medical, and food & beverage markets. The global solid-state relay market is expected to reach an estimated $2.1 billion by 2030 with a CAGR of 6.7% from 2024 to 2030. The major drivers for this market are rising adoption of high-tech electronics, growing complexity in circuits of electric vehicles, and increasing focus towards up-gradation of aging power of infrastructure.

A more than 150-page report is developed to help in your business decisions.

Solid-State Relay Market by Segment

The study includes a forecast for the global solid-state relay market by mounting type, output voltage, current rating, application, and region

Solid-State Relay Market by Mounting Type [Shipment Analysis by Value from 2018 to 2030]:

• Panel
• PCB
• DIN Rail
• Others

Solid-State Relay Market by Output Voltage [Shipment Analysis by Value from 2018 to 2030]:

• AC
• DC
• AC/DC

Solid-State Relay Market by Current Rating [Shipment Analysis by Value from 2018 to 2030]:

• Low (0A-20A)
• Medium (20A-50A)
• High (More than 50A)

Solid-State Relay Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Solid-State Relay Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies solid-state relay companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solid-state relay companies profiled in this report include-

• Broadcom
• Anacon Electronic
• Carlo Gavazzi
• Omron
• Omega Engineering
• Fujitsu
• Crydom
• Celduc Relais
• Vishay Intertechnology
• Rockwell Automation

Solid-State Relay Market Insights

Lucintel forecast that AC is expected to witness highest growth over the forecast period.

Within this market, automotive & transportation will remain the largest segment due to growing adoption of solid state relay in various electric vehicle components, such as batteries, speed controlling units, and other low maintenance and compact parts.

APAC is expected to witness highest growth over the forecast period due to continual expansion of the automotive, food & beverage, building equipment, and manufacturing industries in the region.

Features of the Global Solid-State Relay Market

Market Size Estimates: Solid-state relay market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Solid-state relay market size by various segments, such as by mounting type, output voltage, current rating, application, and region in terms of value ($B).

Regional Analysis: Solid-state relay market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different mounting types, output voltages, current ratings, applications, and regions for the solid-state relay market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solid-state relay market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the solid-state relay market size?

Answer: The global solid-state relay market is expected to reach an estimated $2.1 billion by 2030.

Q.2 What is the growth forecast for solid-state relay market?

Answer: The global solid-state relay market is expected to grow with a cagr of 6.7% from 2024 to 2030

Q.3 What are the major drivers influencing the growth of the solid-state relay market?

Answer: The major drivers for this market are rising adoption of high-tech electronics, growing complexity in circuits of electric vehicles, and increasing focus towards up-gradation of aging power of infrastructure.

Q4. What are the major segments for solid-state relay market?

Answer: The future of the solid-state relay market looks promising with opportunities in the industrial automation, building equipment, industrial OEM, energy & infrastructure, automotive & transportation, medical, and food & beverage markets.

Q5. Who are the key solid-state relay market companies?

Answer: Some of the key solid-state relay companies are as follows:

• Broadcom
• Anacon Electronic
• Carlo Gavazzi
• Omron
• Omega Engineering
• Fujitsu
• Crydom
• Celduc Relais
• Vishay Intertechnology
• Rockwell Automation

Q6. Which solid-state relay market segment will be the largest in future?

Answer: Lucintel forecast that AC is expected to witness highest growth over the forecast period.

Q7. In solid-state relay market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to continual expansion of the automotive, food & beverage, building equipment, and manufacturing industries in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the solid-state relay market by mounting type (panel, PCB, DIN rail, and others), output voltage (AC, DC, and AC/DC), current rating (low (0A-20A), medium (20A-50A), and high (more than 50A)), application (industrial automation, building equipment, industrial OEM, energy & infrastructure, automotive & transportation, medical, and food & beverages), and region (North America, Europe, Asia Pacific, and the Rest of the World)
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?