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Global Panel Mount Solid State Relay Market Analysis by output voltage outlook, mounting type, distribution channel, application, Region and segments forecast till 2033
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. |
Global 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.
Global 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
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Panel Mount Solid State Relay Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both Technology and consumption point of view at the regional and country level. Key Factors considered within the report scope are Technology type capacity by countries/regions, average End Use, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Panel Mount Solid State Relay Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Technology, Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Technology Vehicle type in taking a key decision within the business:
Company Share Analysis from 2020-2022
Company Analysis by Revenue and Sales
Company Technology type Capacity, Gross Margin
Company Share Analysis by Technology type/ Technology Vehicle type
Company Share Analysis by Technology type/Specification