Solid State Relay market projected to reach $1.82 billion by 2032

From GlobeNewswire: 2025-01-20 08:00:00

The Solid State Relay market was valued at USD 1.13 Billion in 2023, projected to reach USD 1.82 Billion by 2032 with a CAGR of 5.51%. SSRs are crucial in renewable energy, healthcare, and automotive sectors, with global capacity expected to reach 4,500 GW for solar power and 1,700 GW for wind energy by 2028.

Panel Mount SSRs led the market in 2023, capturing 42% share due to ease of installation and reliability in industrial settings. The DIN Rail Mount segment is the fastest-growing with a projected CAGR of 6.13%, driven by smart manufacturing needs. AC SSRs dominated at 53% due to high voltage resistance and reliability in harsh conditions.

Industrial Automation held a 39% market share in 2023, with SSRs essential for controlling motors and sensors in automated systems. The healthcare sector is projected to grow fastest at 6.45%, driven by demand for precise control in medical devices. North America led the SSR market in 2023, while Asia Pacific is set to grow at a CAGR of 6.03%.

Siemens launched the ultra-fast SENTRON ECPD circuit protection device in March 2024, offering wear-free switching for enhanced safety and energy efficiency. Vishay Intertechnology introduced the VORA1010M4, the industry’s first 1 Form A solid-state relay with AEC-Q102 qualification and fast turn-on/off times. The Solid State Relay Market report provides insights on manufacturing output, utilization rates, technological adoption rates, and export/import data by region from 2020-2023. It also includes a competitive landscape, market segmentation by mounting type, output voltage, and application, as well as regional analysis and company profiles. Access the full report for comprehensive information on market growth and outlook until 2032. Contact SNS Insider for customized research and consulting services.



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