The COVID-19 virus originated in China and is now spreading throughout the world. The pandemic has had an effect on many markets, both positively and negatively. During the pandemic crisis, the healthcare sector expanded exponentially; however, the manufacturing industry suffered. People's health and safety have risen to the top of the priority list, prompting governments in most countries to enact nationwide lockdowns. According to MRFR research, revenues in China fell by more than 20% during the first quarter of 2020. The spread of the coronavirus has brought the manufacturing sector to a halt. The exports of raw materials from China to other emerging markets have also been impacted. Solid state relays are commonly used in the production of industrial machinery, home electronics, transportation, and medical and communication equipment. The COVID-19 pandemic, on the other hand, has severely hampered demand in the consumer electronics and machinery industries.
Companies are actively investing in the RD of advanced solid state relays. Sensata Technologies, for example, announced the introduction of two new 3-phase DIN-rail and panel-mount solid state relays in November 2019. The PM67 and DR67 relays are VDE, UL, and CE accredited for global use in HVAC R, pump controls, plastic injection, industrial ovens, moulding, packaging, and food processing equipment. Post-lockdown, the new product releases are projected to increase demand for solid state relays in a variety of industries.
The global solid state relay industry has been segmented based on mounting type, output voltage, current rating, and application.
Based on mounting type, the global solid state relay market has been segmented into panel mount, PCB mount, DIN rail mount, and others.
Based on the output voltage, the global solid state relay market has been segmented into AC solid state relay, DC solid state relay, and AC/DC solid state relay.
Based on the current rating, the global solid state relay market has been segmented into low (0–20A), medium (20A–50A), and high (50A Above).
Based on application, the global solid state relay market has been segmented into industrial automation, building equipment, industrial OEM, energy infrastructure, automotive transportation, medical devices, food beverages, and others.