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Solid State Relay Market - Growth, Trends, Forecasts (2020-2025)

  • ID: 5026116
  • Report
  • May 2020
  • Region: Global
  • 120 pages
  • Mordor Intelligence

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FEATURED COMPANIES

  • ABB Ltd.
  • Avago Technologies Ltd.
  • Crydom Inc.
  • General Electric,
  • Littelfuse
  • NR Electric
The solid state relay market is expected to register a CAGR of 5% over the forecast period 2020-2025.

Solid state relay is an electronic switching device that uses the electrical and optical properties of solid state semiconductors to switch on or off when a small external voltage is applied across its control terminals. They are mostly used to avoid any major accidents or flashovers as it trips the circuit breaker when a fault is detected and prevents damage to the main system. These do not have moving parts unlike electromechanical relay to wear out thus have a long self-life.
  • The demand for low-cost, accurate, small-size, bounce less operation and long self-life of protective systems has grown rapidly during the last decade in industrial, automotive, energy and infrastructure, healthcare and building equipment. Increase demand to upgrade the power infrastructure in developed countries to reduce the heat generation through thermal dissipation with the usage of solid state relays is expected to drive the market.
  • In addition to this, the higher penetration of Internet of Things has propelled the development of smart grids for smart cities. The smart grids work on advanced technologies to modernize electricity networks, extending from the end user to distribution and transmission. They use two layers of relay (AC power relay and solid state relay) in the smart meters to reduce the heat dissipation. According to the IEA report, smart meter deployment has advanced considerably in recent years, as China is in the midst of the full deployment, and Japan, Spain and France are poised to achieve full rollouts in the next few years.
  • Moreover, in 2020, Ameren, one of the largest utility companies in the United States, has announced to spend USD 7.6 billion on a five-year grid modernization plan that includes installation of smart meters for more than 1.2 million customers. It will develop solar energy and battery storage in rural areas and switch to storm-resilient utility poles and wires.
  • The solid state relay ensures wear-free, silent and extremely fast switching operations and meets the mechanical as well as electrical demand of automotive industry and thus are are suitable for automotive applications especially in electric vehicles. Growing modernization of electric vehicle and lenient governmental policies are driving the sales of electric vehicle which in turn is fueling the solid state relay market. It is the integrate component of switching network in electric car’s battery. The cell-measurement system comprises of switching array of solid states relay that blocks higher threshold voltage, and helps in heat management and offers overcurrent protection to the battery.
  • The cost of a solid state relay is significantly higher than that of electromechanical relay and can hamper the growth of the market. However, the ongoing technical advancements is expected to reduce the price of the product that will boost its application in the future.
Key Market Trends

Smart Thermostat Market is Expected to Grow Significantly in the Forecast Period
  • Increase in the demand to reduce the electric consumption cost while maintaining the temperature inside the building is driving the sales of smart thermostats in developed economies. These devices enable users to control the temperature throughout the day using a schedule. The smart thermostat uses solid state relay to maintain the stable temperature.
  • Smart thermostat is an emerging technology and is being implemented in various fields such as residential, industrial buildings, educational institutions, office buildings, retail, hospitality, and healthcare to maintain the inside temperature.
  • The companies are investing to develop advanced devices which can be integrated into the various system and provide an excellent experience to the user. For instance, Nest launched a self-learning Wi-Fi-enabled thermostat that optimizes the heating and cooling of homes and offices to conserve energy. Ecobee has also launched the SmartThermostat, is similar to its 2017’s Ecobee4 but has multiple upgrades including faster performance, a louder, better-quality speaker, nicer materials with a completely redesigned remote sensor.
North America is Expected to Gain Significant Market Share
  • North America is expected to have significant growth of solid state replay market due to increase investment in the manufacturing of electronic devices and equipment used in various industry as well as the increase in the number of data centers and power plants across the United States and Canada.
  • Solid state relay is employed in various industrial process control systems such as power storage battery, smart grid, solar power plants, and quick charger stations to protect the main system from excessive current flow.
  • Ongoing development in the automotive sector and the growing sensitivity of various governments toward a cleaner environment has flooded the road of North America with electric vehicles. According to the Department of Energy (DOE) reports 2019, there are more than 68,800 Level 2 and DC fast charging units throughout the United States and out of that 16% are DC fast chargers that make long-distance travel more practical for electric vehicles as compare to 16,000 public electric vehicle charging stations in 2017.
  • California has the maximum number of electic vehicle charging unit with 22,620 and represents about a third of the nationwide. Hence, the rapid adoption of electric vehicles has fueled the demand of solid state relay impressively and also promises a great opportunity ahead.
  • Solar electricity is now the fastest growing energy source around the world and according to the International Energy Agency (IEA) report, by 2050 solar electricity could account for 27% of the world’s electricity mix, making it the world’s largest source of electricity, ahead of nuclear, fossil fuels, hydro and wind. Canada’s solar electricity sector is growing at rapid pace due to the success of Ontario’s solar project which contributes almost 99% of countries’ solar electricity. For instance, in 2019, Ontario Power Generation (OPG) has completed the Nanticoke solar project, built at the former Nanticoke Generating Station site, generates 44 MW of solar energy.
  • Further, increasing spread of COVID-19 has put most of the countries under temporary lockdown and has affected many construction and manufacturing industries that will slightly hamper the growth of solid state relay in the future. Moreover, it has lowered the consumer’s purchasing power, and has induced 2020 recession that will disrupt automotive, consumer electronics, semiconductor and IT infrastructure businesses worldwide.
Competitive Landscape

The solid state relay market is highly competitive and is dominated by a few major players like Rockwell Automation Inc., Alstom Power, ABB Ltd., General Electric and Omron Corporation. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share hence, profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

March 2020 - Fujitsu announced its plan to launch a new company that combines its divisions in charge of the business with local government, medical and educational institutions in Japan with Fujitsu Marketing Ltd. The company aims to expand its domestic business in Japan service market where it holds top share and accelerates the advancement of ICT in local governments, medical institutions, educational institutions and second-tier, small and medium-sized enterprise customers in the private sector. The new company will launch on July 1st and will play a key role in accelerating the creation of new business while and efforts to resolve a variety of social issues confronting local communities.

March 2020 - Alstom has contracted with Romanian state rail carrier to provide digital train control, traffic management and electrification infrastructure as part of the rehabilitation and modernization of a section of the European Rhine-Danube rail corridor in Romania. It covers the modernization of approximately 170 kilometres of railway infrastructure for passenger trains operating at up to 160 km/h. It includes infrastructure and superstructure rehabilitation, electrification, signaling and telecommunication systems, including GSM-R, as well as civil works. The project is expected to last four years.

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FEATURED COMPANIES

  • ABB Ltd.
  • Avago Technologies Ltd.
  • Crydom Inc.
  • General Electric,
  • Littelfuse
  • NR Electric
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased investment in renewable energy sources
4.2.2 Elevated requirement of power savings in residential as well as industrial sector
4.3 Market Restraints
4.3.1 High cost of the solid state relay as compare to electromechanical relay
4.4 Industry Value Chain Analysis
4.5 Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of COVID-19 Impact on the Industry

5 MARKET SEGMENTATION
5.1 Mounting
5.1.1 Panel Mount
5.1.2 PCB Mount
5.1.3 DIN Rail Mount
5.2 Output
5.2.1 AC Solid State Relay, , and
5.2.2 DC Solid State Relay
5.2.3 AC/DC Output Relay
5.3 Application
5.3.1 Energy and Infrastructure
5.3.2 Industrial OEM
5.3.3 Building Equipment
5.3.4 Food and Beverages
5.3.5 Automotive and Transportation
5.3.6 Industrial Automation
5.3.7 Healthcare
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 France
5.4.2.3 United Kingdom
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Rest of Asia-Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Rockwell Automation Inc.
6.1.2 ABB Ltd.
6.1.3 Alstom Power
6.1.4 Sensata Technologies
6.1.5 General Electric,
6.1.6 Omron Corporation
6.1.7 Fujitsu Limited
6.1.8 Teledyne Relays Inc.
6.1.9 Avago Technologies Ltd.
6.1.10 Omega Engineering Inc.
6.1.11 Crydom Inc.
6.1.12 Celduc Relais.
6.1.13 Littelfuse
6.1.14 Mitsubishi Electric
6.1.15 NR Electric
6.1.16 IXYS Integrated Circuits
6.2 Investment Analysis

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown

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  • Rockwell Automation Inc.
  • ABB Ltd.
  • Alstom Power
  • Sensata Technologies
  • General Electric,
  • Omron Corporation
  • Fujitsu Limited
  • Teledyne Relays Inc.
  • Avago Technologies Ltd.
  • Omega Engineering Inc.
  • Crydom Inc.
  • Celduc Relais.
  • Littelfuse
  • Mitsubishi Electric
  • NR Electric
  • IXYS Integrated Circuits
Note: Product cover images may vary from those shown

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