|04-23-2019 04:54 PM CET - Industry, Real Estate & Construction||
Global Solid State Relay Market Estimated $1.60 Bn Growth by 2026 | A report by TE Connectivity, Broadcom, Crydom Inc., Carlo Gavazzi Holding AG, OMRON Corporation, OMEGA Engineering, Rockwell Automation and others
Press release from: Data Bridge Market Research
Solid state relay is a type of electronic device that switches itself when an external surge of voltage flows through the device. These devices are applied on various control terminals and are consisting of a sensor and a switching device which switches the power to the load circuit.
Global Solid State Relay Market is expected to rise from its initial estimated value of USD 1 billion in 2018 to an estimated value of USD 1.60 billion by 2026, registering a CAGR of 5.97% in the forecast period of 2019-2026. This rise in market value can be attributed to the modernization and increased adoption from the consumer electronics and electrical industry.
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• TE Connectivity
• Crydom Inc
• Carlo Gavazzi Holding AG
• OMRON Corporation
• OMEGA Engineering
• Rockwell Automation, Inc.
• IXYS Integrated Circuits Division
• Vishay Intertechnology
• Teledyne Relays
• celduc relais
• Panasonic Corporation
• Connectwell Industries Pvt. Ltd.
• ARICO TECHNOLOGY CO., LTD.
• PHOENIX CONTACT
• Emtech Solution
Key Developments in the Market:
• In November 2018, Carlo Gavazzi Holding AG announced the launch of a new series of solid state relay products. The new series termed as “RGC3 48 Series” include products that have been equipped with dual mounting capabilities of panel mount and thru-wall mount. This product launch will increase their share in the market due to the popularity of the products available in the series.
• In December 2016, Vishay Intertechnology announced the launch of expanded VOR series of hybrid solid state relays for usage in telecommunications and networking industries, industrial applications and various others verticals. The new products included in the series are increasingly cost effective and provide enhanced levels of temperature range.
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Market Drivers & Restraints:
• Growth of the digital age and autonomous operations in various industries; this is expected to drive the market growth
• Benefits and features of the product such as resistance against vibration & shocks is increasing the demand for the product; this factor is expected to drive the market growth
• Availability of cheaper substitutes in the market is expected to restrain the market growth
• Loss of power and current during switching on and off solid state relay; this factor is expected to act as a restraint to the market growth
By Mounting Type
• Panel Mount
• Printed Circuit Board (PCB) Mount
• DIN Rail Mount
• Alternate Current Solid State Relay (AC SSR)
• Direct Current Solid State Relay (DC SSR)
• Alternate Current/Direct Current Solid State Relay (AC/DC SSR)
• Low (0-20A)
• Medium (20-50A)
• High (50A & Above)
• Industrial Automation
• Machine Tools
• Conveyor Systems
• Industrial Robots
• Material Handling Equipment
• Lighting Systems
• Office Lighting Systems
• Warehouse/Theatrical Lighting Systems
• Security & Access Control Systems
• HVAC Systems
• Electronics Equipment
• Packaging Devices
• Plastic & Printing Devices
Energy & Infrastructure
• Power Distribution
• Solar Tracking Systems
• Wind Turbines
Automotive & Transportation
• Train Control Systems
• Electric Vehicles
• Dialysis Machines
• Medical Sterilizers
Food & Beverage
• Coffee Makers & Vending Machines
Global solid state relay market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of solid state relay market for global, Europe, North America, Asia-Pacific and South America.
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This release was published on openPR.
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