The Business Research Company’s Solid State Relay Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Solid State Relay Global Market Report 2023 evaluates solid state relay impact market size, growth rate, drivers, trends, and major companies.
The report provides
a global perspective by covering 60 geographies and focusing on major economies
in each region – Asia-Pacific, Western Europe, Eastern Europe, North America,
South America, Middle East, Africa.
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And Tables):
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The global solid
state relay market size is expected to grow from $1.25 billion in 2022 to $1.33
billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The
Russia-Ukraine war disrupted the chances of global economic recovery from the
COVID-19 pandemic, at least in the short term. The war between these two
countries has led to economic sanctions on multiple countries, a surge in
commodity prices, and supply chain disruptions, causing inflation across goods
and services and affecting many markets across the globe. The market size of
the solid state relay market size is expected to reach $1.80 billion in 2027 at
a CAGR of 7.8%.
The rise in
demand for electric vehicles (EVs) is expected to propel the solid-state relay
market. Electric vehicles are vehicles that consist of a motor that is powered
by electricity stored in batteries. It operates on electric motors and charges
its batteries with electricity rather than utilizing fossil fuels such as
gasoline or diesel. Solid-state relay offers longer operating life than
mechanical relays while at the same time offering higher battery isolation
capability in EVs, these adoptions lead to increased demand for EV and hybrid
vehicles, a change from petroleum products to more sustainable power vehicles.
For instance, according to May 2022 published, according to the International
Energy Agency, a Paris-based autonomous intergovernmental organization, Global
EV Outlook 2022 report, Global electric vehicle (EV) sales had doubled from the
previous year in 2021, reaching a new high of 6.6 million. Additionally, the
sales of electric car vehicles worldwide in 2021 have reached 6600000 units from
2980000 units. Therefore, increased demand for electric vehicles drives the
solid-state relay market.
Get More Information On The Solid State Relay Market
Report:
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The solid state
relay impact market segments in the
report are:
1) By Mounting
Type: Panel, PCB, DIN Rail, Other Mounting Types (Plug-in)
2) By Output: AC
SSR, DC SSR, AC/DC Output SSR
3) By Power
Rating: Low (0-20A), Medium (20A-50A), High (>50A)
4) By Industry:
Energy And Infrastructure, Industrial OEM, Building Equipments, Food And
Beverages, Automotive And Transportation, Industrial Automation
The table of contents in TBRC’s solid state relay impact market report includes:
1. Executive Summary
2. Solid State Relay Market Characteristics
3. Solid State Relay Market Trends And Strategies
4. Solid State Relay Market - Macro Economic Scenario
5. Solid State Relay Market Size And Growth
.
27. Solid State
Relay Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Solid State Relay Market
29. Solid State Relay Market Future Outlook and Potential Analysis
30. Appendix
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