According to a new report, published by KBV research, The Global Solid State Relay Market size is expected to reach $1.9 billion by 2030, rising at a market growth of 6.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 30036.4 thousand units, experiencing a growth of 6.9% (2019-2022).
The solid-state relay market is subject to various trends that shape its evolution and impact its growth trajectory. The integration and miniaturization of SSRs in small, space-constrained equipment and systems is becoming more prevalent. Manufacturers are developing smaller, lighter, and more efficient SSRs with higher power densities and improved thermal management capabilities. The growing need for smaller solutions in consumer electronics, automotive, and aerospace industries is driving this trend.
The DC segment is anticipated to have a CAGR of 7.2% during (2023 - 2030). With the increasing use of renewable energy sources such as solar and wind power and the proliferation of battery-powered devices and electric vehicles, there is a growing demand for DC power systems. DC SSRs are essential for switching and controlling DC loads in these systems, making them integral to modern energy infrastructure.
The Energy & Power segment is leading the Global Solid State Relay Market by End User in 2022 thereby, achieving a market value of $640.6 million by 2030. SSRs offer efficient control and switching of electrical power without the mechanical contacts found in traditional electromechanical relays. This efficiency is crucial in the energy and power sector, where precise control of power flow is essential for optimizing energy generation, transmission, and distribution.
The Panel Mount segment is poised to have a CAGR of 7.2% during (2023 - 2030). Panel mount SSRs offer flexibility in installation because they can be mounted directly onto panels, enclosures, or DIN rails without requiring additional mounting hardware. This versatility makes them suitable for various applications across various industries, including industrial automation, process control, and power distribution. Additionally, panel mount SSRs are designed for easy access and maintenance, allowing technicians to quickly replace or upgrade the relays without disrupting the system.
Full Report: https://www.kbvresearch.com/solid-state-relay-market/
The Asia Pacific region dominated the Global Solid State Relay Market by Region in 2022 thereby, and would continue to be a dominant market till 2030; achieving a market value of $777.8 million by 2030The Europe region is exhibiting a CAGR of 6.3% during (2023 - 2030). Additionally, The North America region would experience a CAGR of 6% during (2023 - 2030).
By Type (Volume, Thousand Units, USD Billion, 2019-2030)
By End User (Volume, Thousand Units, USD Billion, 2019-2030)
By Mounting Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)
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