Research Nester’s recent market research analysis on “Solid State Relay Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global solid state relay market in terms of market segmentation by mounting type, output, industry, and by region.
Growing Utilization of Solid State Relay in Remote Control System to Boost the Growth of Gl0bal Solid State Relay Market
The market for solid state relay is estimated to grow on account of the rising utilization of solid state relays in remote control systems. In order to handle high-power machinery, such as electric motors, pulse valves, and other machinery, remote control systems typically need small current signals. Because they have so many great advantages, such as high reliability, flexible control, no spark, no noise, fast switching, high operating frequency, high durability, and strong anti-interference ability, solid-state relays are frequently used in remote control systems to serve as an electronic switching component without mechanical contacts.
Moreover, the market for solid-state relays is anticipated to grow in response to the rising demand for electric vehicles (EVs). Electric vehicles have a motor that is powered by electricity which is stored in batteries. Instead of using fossil fuels like petrol or diesel to power its engines, it uses electric motors and energy to power its batteries. Solid-state relays have stronger battery isolation capabilities in EVs while also having a longer operating life than mechanical relays. As a result of these adoptions, demand for EV and hybrid vehicles has surged, signaling a shift away from petroleum-based fuels to more environmentally friendly ones.
Some of the major growth factors and challenges that are associated with the growth of the global solid-state relay market are:
Growth Drivers:
· Growing Need to Control Heating/Cooling System
· Rise in Adoption of Integrated Thermal Protection Systems
Challenges:
To ensure that their products are widely usable for a variety of purposes, SSR producers must adhere to a number of safety guidelines, regulations, and industry standards. These requirements help to reduce risks. It is difficult for small players in the solid state relay (SSR) market to meet the criteria because doing so necessitates the employment of expensive manufacturing equipment and exacting quality control procedures. Companies in the solid state relay (SSR) sector face more difficult hurdles as a result of these standards, which are steadily expanding the norms and protocols to provide protection against additional danger instances.
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By mounting type, the market for solid state relay is segmented into panel mount, PCB mount, and DIN rail mount. Out of these segments, the panel mount segment is expected to hold the significant place in the market over the forecast period, due to the tremendous flexibility of panel mount solid state relays. These small relays are excellent for both industrial and consumer applications. They are more durable than their conventional equivalents and have lower overall costs, which favors their widespread adoption. Expanding technological developments by top industry players aimed at improving the capabilities of panel mount solid-state relays will also help the market grow.
By region, the market in Europe for solid state relay is anticipated to grow over the forecast period. The demand for semiconductors, which are used in products like HVAC equipment, robotic equipment, material handling equipment, and building equipment, has increased due to the growing population in Europe and the ability of European businesses to produce electronic equipment. As a result, it is anticipated that this will increase demand for SSRs and open up new growth prospects for regional market participants.
This report also provides the existing competitive scenario of some of the key players of the global solid state relay market which includes company profiling of Texas Instruments Incorporated, Schneider Electric, Carlo Gavazzi Holding AG, OPTO 22, TE Connectivity, Sensata Technologies, Celduc Relais, Siemens, ABB, Rockwell Automation, and others.
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