Market Overview
Global Panel Mount Solid State Relay Market valued at USD 1,230 million in 2022 is anticipated to reach a value of USD 2,050 million in 2033, growing at a CAGR of 6.6%.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 1,230 Million |
Market Forecast in 2033 | USD 2,050 Million |
CAGR % 2023-2033 | 6.6% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product type, end-user industry, company share, company heatmap, company Material Technology Vehicle type capacity, growth factors and more |
Segments Covered | output voltage outlook, mounting type, distribution channel, application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Crydom, OMRON, Carlo gavazzi, TE Connectivity, groupe celduc, Fujitsu Limited, Schneider, Siemens, Rockwell Automation, OPTO22, Xiamen Jinxinrong Electronics, JiangSu GlOD Electrical Control Technology, Clion Electric, Bright Toward, Wuxi Tianhao Electronics, Suzhou No.1 Radio Component, COSMO, Shaanxi Qunli, Wuxi Solid, Suzhou Integrated Technology, FOTEK, and Wuxi KangYu Electric Element. |
Panel Mount Solid State Relay Market: Description
Panel mount solid state relays feature screws that go through the SSR (Super Sport Roadster) baseplate for simple mounting on flat panels or heat sinks. Solid state relays (SSRs) are electrical components that respond to a little external voltage across their control monitors to either switch ON or OFF. They contain transistors, thyristors, triacs, diodes, and other semiconductor switching elements. Based on their output, solid state relays can be divided into three categories: AC output. In AC power systems, solid state relays are used to control the flow of electrical energy. Many solid-state relays can switch ON or OFF with the same amount of power as electromechanical relay coils.
The market for solid state relays is anticipated to expand due to factors including rising overall fund projections for the semiconductor industry despite the COVID-19 crisis, growing consumer electronics industry acceptance of hi-tech electronics and technology, increasing complexity in electric vehicle circuits, and solid-state relay's advantages and sturdy properties. The solid-state relay market is predicted to develop slowly throughout the forecast period due to a number of advantages, such as robust design, long operational life, low operating noise, and low maintenance costs.
However, factors like the need for a stable operating temperature to conduct the solid-state relay's heat dissipation, higher costs and a higher initial investment requirement compared to EMR, and persistent leakage when solid state relays are switched off are anticipated to most likely restrain the market's expansion during the forecast period. In addition, the growth of the semiconductor industry, its spread, and the rising demand for semiconductors across a variety of industries have opened up a wealth of new chances for the development of the key companies operating in the state relay market.
Home electronics, beverage dispensers, and workplace equipment are all part of the consumer electronics sector. Because high-tech electronics are being used by more people, the global market for consumer electronics is anticipated to grow. Electronics found in the home, such as the TV, air conditioner, microwave, and refrigerator, are evolving. The digitization of consumer electronics is also visible in office equipment like fax machines and inverters as well as beverage distribution equipment. Consumer electronics are becoming more and more digitalized as a result of a shift in consumer behaviour toward the adoption of cutting-edge, user-friendly, and smart technology.
For the purpose of ensuring that their products are usable in a wide range of applications, SSR producers are required to adhere to a number of safety norms, regulations, and industry standards. Various organisations offer guidelines to make sure that energy is produced, distributed, and used in a safe and efficient manner. One such organisation is the VDE (Verband der Elektrotechnik), an association for electrical, electronic, and information technology from Europe.
Panel Mount Solid State Relay Market- Segmental Analysis:
Output Voltage Outlook Insights
Due to the availability of AC in a broad range of current ratings, such as 0-150 Amps, the AC output voltage sector is anticipated to have the biggest market share in 2021. Due to the availability of a broad ampere range, AC is employed in every application, from industrial automation to medical equipment.
Mounting Type Insights
The Panel segment led the global Panel Mount Solid State Relay market, in 2022 and is anticipated to grow at a significant CAGR by 2033.
Distribution Channel Insights
The Online channels segment registered the highest growth in the market, in 2022 and is anticipated to grow at a significant CAGR by 2033.
Application Insights
Industrial automation segment registered the highest growth in the market, in 2022 and is anticipated to grow at a significant CAGR by 2033.
Regional Insights
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, North America is projected to capture a substantial revenue share, due to the expanding automotive industry. During the projection period, the regional market will rise due to the expanding use of Panel Mount Solid State Relays in industrial robotics and growing industrial automation.
Competitive Analysis
The prominent companies defining the competitive terrain of this marketplace are Crydom, OMRON, Carlo gavazzi, TE Connectivity, groupe celduc, Fujitsu Limited, Schneider, Siemens, Rockwell Automation, OPTO22, Xiamen Jinxinrong Electronics, JiangSu GlOD Electrical Control Technology, Clion Electric, Bright Toward, Wuxi Tianhao Electronics, Suzhou No.1 Radio Component, COSMO, Shaanxi Qunli, Wuxi Solid, Suzhou Integrated Technology, FOTEK, and Wuxi KangYu Electric Element.
Global Panel Mount Solid State Relay Market- Segmental Analysis
By output voltage outlook
· AC
· DC
· AC/DC
· Others
By mounting type
· Panel
· PCB
· DIN Rail
· Others (plug-in, SO4, and DIP)
By distribution channel
· Online channels
· Offline channels
· Others
By application
· Industrial automation
· Building equipment
· Lightning equipment
· Industrial OEM
· Energy and infrastructure
· Automotive and transportation
· Medical
· Food and beverages
· Others
1. Global Panel Mount Solid State Relay Market Introduction and Market
Overview
1.1.
Objectives of the Study
1.2.
Global Panel Mount Solid State
Relay Market Scope and Market Estimation
1.2.1.Global Panel
Mount Solid State Relay Overall Market Size, Revenue (US$ Mn) and Volume (Units),
Market CAGR (%), Market forecast (2023 - 2033)
1.2.2.Global Panel
Mount Solid State Relay Market Revenue Share (%) and Growth Rate (Y-o-Y) from
2019 - 2033
1.3.
Market Segmentation
1.3.1.Type of
Global Panel Mount Solid State Relay Market
1.3.2.Sales
Channel of Global Panel Mount Solid State Relay Market
1.3.3.Application
of Global Panel Mount Solid State Relay Market
1.3.4.Region
of Global Panel Mount Solid State Relay Market
2. Executive Summary
3. Market Factor Analysis
3.1. Global Panel Mount Solid
State Relay Market Application Trends under COVID-19 Outbreak
3.1.1.Global
COVID-19 Status Overview
3.1.2.Influence
of COVID-19 Outbreak on Global Panel Mount Solid State Relay Market Application
Development
3.2. Market Dynamics
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact
Analysis of Drivers and Restraints
3.3. Value Chain/ Ecosystem
Analysis
3.3.1.Manufacturers
/ Vendors
3.3.2.Distributors
3.3.3.Buyers /
End-users
3.3.4.Forward
Integration & Backward Integration of Key Stakeholders
3.4. Global Panel Mount Solid
State Relay Market - Pricing Trends Analysis & Average Selling Prices
(ASPs)
3.5. Porter’s Five Forces
Analysis
3.5.1.Bargaining
Power of Suppliers
3.5.2.Bargaining
Power of Buyers
3.5.3.Threat
of Substitutes
3.5.4.Threat
of New Entrants
3.5.5.Competitive
Rivalry
3.6. PEST Analysis
3.6.1.Political
Factors
3.6.2.Economic
Factors
3.6.3.Social
Factors
3.6.4.Technological
Factors
3.7. Impact of Russia Ukraine
War on Panel Mount Solid State Relay Market
3.8. Impact of Economic
Downturn on Panel Mount Solid State Relay Market
3.9. Panel Mount Solid State
Relay Production Capacity, by Major Countries
3.10. Market Investment
Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
4. Global Panel Mount Solid
State Relay Market Estimates & Forecast Trend Analysis, by Type
4.1.
Global Panel Mount Solid State
Relay Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Type,
2019 to 2033
4.1.1.Panel
4.1.2.PCB
4.1.3.DIN Rail
4.1.4.Others
5. Global Panel Mount Solid
State Relay Market Estimates & Forecast Trend Analysis, by Sales Channel
5.1.
Global Panel Mount Solid State
Relay Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Sales
Channel, 2019 to 2033
5.1.1.Online
Channels
5.1.2.Offline
Channels
5.1.3.Others
6. Global Panel Mount Solid
State Relay Market Estimates & Forecast Trend Analysis, by Application
6.1.
Global Panel Mount Solid State
Relay Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Application,
2019 to 2033
6.1.1.Industrial
Automation
6.1.2.Building
Equipment
6.1.3.Lighting
Equipment
6.1.4.Industrial
OEM
6.1.5.Energy
and Infrastructure
6.1.6.Medical
6.1.7.Others
7. Global Panel Mount Solid
State Relay Market Estimates & Forecast Trend Analysis, by Region
7.1.
Global Panel Mount Solid State
Relay Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by
Region, 2019 to 2033
7.1.1.North
America
7.1.2.Europe
7.1.3.Asia
Pacific
7.1.4.Middle East & Africa
7.1.5.South
America
8. North America Panel Mount Solid State Relay Market: Estimates & Forecast Trend Analysis
8.1. North America Panel Mount Solid State Relay Market Assessments &
Key Findings
8.1.1.Panel
Mount Solid State Relay Market Introduction
8.1.2.Panel
Mount Solid State Relay Market Size Estimates and Forecast (US$ Million & Units)
(2019 – 2033)
8.1.2.1.
By Type
8.1.2.2.
By Sales Channel
8.1.2.3.
By Application
8.1.2.4.
By Country
8.1.2.4.1.
The U.S.
8.1.2.4.2.
Canada
8.1.2.4.3.
Mexico
9. Europe Panel Mount Solid State Relay Market: Estimates & Forecast Trend Analysis
9.1.
Europe Panel Mount Solid State
Relay Market Assessments & Key Findings
9.1.1.Panel
Mount Solid State Relay Market Introduction
9.1.2.Panel
Mount Solid State Relay Market Size Estimates and Forecast (US$ Million & Units)
(2019 – 2033)
9.1.2.1.
By Type
9.1.2.2.
By Sales Channel
9.1.2.3.
By Application
9.1.2.4.
By Country
9.1.2.4.1.
Italy
9.1.2.4.2.
Germany
9.1.2.4.3.
U.K.
9.1.2.4.4.
France
9.1.2.4.5.
Spain
9.1.2.4.6.
Rest of Europe
10. Asia Pacific Panel Mount Solid State Relay Market: Estimates & Forecast Trend Analysis
10.1. Asia Pacific Market Assessments & Key Findings
10.1.1.
Panel Mount Solid State Relay
Market Introduction
10.1.2.
Panel Mount Solid State Relay
Market Size and Volume Estimates and Forecast (US$ Million & Units) (2019 –
2033)
10.1.2.1.
By Type
10.1.2.2.
By Sales Channel
10.1.2.3.
By Application
10.1.2.4.
By Country
10.1.2.4.1. China
10.1.2.4.2. Japan
10.1.2.4.3. India
10.1.2.4.4. Australia
10.1.2.4.5. South Korea
10.1.2.4.6. ASEAN
10.1.2.4.7. Rest of Asia Pacific
11. Middle East & Africa Panel Mount Solid State Relay Market: Estimates & Forecast Trend Analysis
11.1. Middle East & Africa Market Assessments & Key Findings
11.1.1.
Panel Mount Solid State Relay
Market Introduction
11.1.2.
Panel Mount Solid State Relay
Market Size and Volume Estimates and Forecast (US$ Million & Units) (2019 –
2033)
11.1.2.1.
By Type
11.1.2.2.
By Sales Channel
11.1.2.3.
By Application
11.1.2.4.
By Country
11.1.2.4.1. U.A.E.
11.1.2.4.2. Saudi Arabia
11.1.2.4.3. Egypt
11.1.2.4.4. South Africa
11.1.2.4.5. Rest of Middle East & Africa
12. South America Panel Mount Solid State Relay Market: Estimates & Forecast Trend Analysis
12.1. South America Market Assessments & Key Findings
12.1.1.
Panel Mount Solid State Relay
Market Introduction
12.1.2.
Panel Mount Solid State Relay
Market Size and Volume Estimates and Forecast (US$ Million & Units) (2019 –
2033)
12.1.2.1.
By Type
12.1.2.2.
By Sales Channel
12.1.2.3.
By Application
12.1.2.4.
By Country
12.1.2.4.1. Brazil
12.1.2.4.2. Argentina
12.1.2.4.3. Colombia
12.1.2.4.4. Rest of South America
13.
Competition Landscape
13.1. Panel Mount Solid State Relay Market Competition Matrix &
Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants
13.2. Panel Mount Solid State Relay Market Competition White Space
Analysis, By End-user
13.3. Panel Mount Solid State Relay Market Competition Regional Intensity
Map Analysis, By Geographies Served
13.4. Panel Mount Solid State Relay Market Concentration & Company
Market Shares (%) Analysis, 2022
14.
Company Profiles
14.1.Crydom
14.1.1.
Company Overview & Key
Stats
14.1.2.
Financial Performance &
KPIs
14.1.3.
Product Portfolio
14.1.4.
Business Strategy & Recent
Developments
* Similar details would be provided for all the players
mentioned below
14.2.OMRON,
14.3.Carlo gavazzi,
14.4.TE Connectivity,
14.5.groupe celduc,
14.6.Fujitsu Limited,
14.7.Schneider,
14.8.Siemens,
14.9.Rockwell Automation,
14.10.
OPTO22,
14.11.
Xiamen
Jinxinrong Electronics,
14.12.
JiangSu
GlOD Electrical Control Technology,
14.13.
Clion
Electric, Bright Toward,
14.14.
Wuxi
Tianhao Electronics,
14.15.
Suzhou
No.1 Radio Component,
14.16.
COSMO,
Shaanxi Qunli,
14.17.
Wuxi
Solid,
14.18.
Suzhou
Integrated Technology,
14.19.
FOTEK,
14.20.
Wuxi
KangYu Electric Element
14.21.
Others**
15.
Research Methodology
15.1.
External Power
Outputs / Databases
15.2.
Internal
Proprietary Database
15.3.
Primary
Research
15.4.
Secondary
Research
15.5.
Assumptions
15.6.
Limitations
15.7.
Report
FAQs
16.
Research Findings & Conclusion
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
The Global Panel Mount Solid State Relay Market valued at USD 1,230 million in 2022 is anticipated to reach a value of USD 2,050 million in 2033, growing at a CAGR of 6.6%.
The growth of the semiconductor industry, its spread, and the rising demand for semiconductors across a variety of industries have opened up a wealth of new chances for the development of the key companies operating in the state relay market.
Some of the major players operating within the market are Crydom, OMRON, Carlo gavazzi, TE Connectivity, groupe celduc, Fujitsu Limited, Schneider, Siemens, Rockwell Automation, OPTO22, Xiamen Jinxinrong Electronics, JiangSu GlOD Electrical Control Technology, Clion Electric, Bright Toward, Wuxi Tianhao Electronics, Suzhou No.1 Radio Component, COSMO, Shaanxi Qunli, Wuxi Solid, Suzhou Integrated Technology, FOTEK, and Wuxi KangYu Electric Element.
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, North America is projected to capture a substantial revenue share, due to the expanding automotive industry.
}})
Only Four Thousand Seven Hundred Fifty US dollar
Only Five Thousand Seven Hundred Fifty US dollar
Only Seven Thousand Seven Hundred Fifty US dollar