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.

Market Analysis:
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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Top Players:
• TE Connectivity
• Broadcom
• 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.
• Eaton
• 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
• Others

Output Voltage
• Alternate Current Solid State Relay (AC SSR)
• Direct Current Solid State Relay (DC SSR)
• Alternate Current/Direct Current Solid State Relay (AC/DC SSR)

Current Rating
• Low (0-20A)
• Medium (20-50A)
• High (50A & Above)

• Industrial Automation
• Machine Tools
• Elevators
• Conveyor Systems
• Industrial Robots
• Material Handling Equipment
• Others

Building Equipment
• Lighting Systems
• Office Lighting Systems
• Warehouse/Theatrical Lighting Systems
• Security & Access Control Systems
• HVAC Systems
• Others

Industrial OEM
• Electronics Equipment
• Packaging Devices
• Plastic & Printing Devices
• Others

Energy & Infrastructure
• Power Distribution
• Solar Tracking Systems
• Wind Turbines
• Others

Automotive & Transportation
• Train Control Systems
• Electric Vehicles
• Others
• Medical
• Dialysis Machines
• Medical Sterilizers
• Incubators
• Others

Food & Beverage
• Ovens
• Coffee Makers & Vending Machines
• Others

Competitive Analysis:
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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Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.

Data Bridge Market Research
Tel: +1-888-387-2818
Email: sopan.gedam@databridgemarketresearch.com

This release was published on openPR.
News-ID: 1714629 • Views: 453
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