1 / 6

Solid-State Relay Market Size and Share 2023 | Business Overview, Growth

Global Solid-State Relay Market size is expected to witness notable gains through 2032, owing to the rising adoption of advanced electronics and automation in the consumer electronics sector.

Vijay35
Download Presentation

Solid-State Relay Market Size and Share 2023 | Business Overview, Growth

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Solid-State Relay Market Size and Share 2023 | Business Overview, Latest Development, Growth till 2032 Fuel Cell Market size worth $25.5bn by 2024

  2. KeyInsights from Solid-State Relay Market: • Global Solid-State Relay Market size is expected to witness notable gains through 2032, owing to the rising adoption of advanced electronics and automation in the consumer electronics sector. In recent years, solid-state relays have replaced conventional electromagnetic relays in high-end consumer electronics such as HVAC systems, ovens, coffee vending machines, and others, given their ability to control heavy electrical loads. • Increasing product innovations in the field are also positively impacting industry growth. For instance, in May 2022, Texas Instruments, an American technology company, announced the launch of its new range of solid-state relays, including isolated switches and drivers for ensuring the safety of electric vehicles.

  3. Continued... • The overall solid-state relay market is classified on the basis of mounting, output voltage, application, and region. • Panel mount segment share is anticipated to grow considerably through 2032, owing to the high flexibility of panel mount solid state relays. These relays are compact, which makes them ideal for industrial and consumer applications. They have a lower overall cost and demonstrate a longer life span than their traditional counterparts, favoring their mass adoption. Escalating technological innovations by leading industry players focused on enhancing the capabilities of panel mount solid-state relays will further contribute to segment expansion. • AC solid-state relay industry recorded over USD 500 million in revenue in 2022. AC solid-state relays are suitable for applications, such as automotive, where noise and low electromagnetic interference are a concern. Rapidly expanding automotive industry is likely to increase the demand for solid-state relays. For instance, the US DOE and DOT, in February 2023, announced an investment of USD 7 million for several new projects that focus on the decarbonization of medium and heavy-duty vehicles.

  4. Browse key industry insights spread across 252 pages with 258 market data tables & figures from the report, “Solid-State Relay Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/solid-state-relay-market Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/5561

  5. Continued... • In terms of application, solid-state relay market value from the food & beverages segment reached over USD 200 million in 2022. Solid-state relays have high-frequency control capability, which makes them useful for commercial food processing machine applications. Flourishing food and beverages industry is expected to increase the demand for these relays. To illustrate, as per the UK Department for Business & Trade, valued at £104.4 billion (~ USD 114 billion), the UK's food and beverages industry is the country's biggest manufacturing sector. • Asia Pacific solid-state relay market is expected to grow at a considerable CAGR from 2023 to 2032. Rapid expansion of the construction sector across emerging economies such as India and China has increased the demand for solid-state relays. As per Invest India, the construction sector in the country is projected to hit USD 1.4 trillion by 2025. In fact, favorable government initiatives such as Make in China and Make in India for boosting the manufacturing sector are further propelling regional growth.

  6. Stay In Touch Website: www.gminsights.com Social Media:

More Related