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Steady state is a more general situation than Dynamic equilibrium. If a system is in steady state then the recently observed behaviour of the system will continue into the future. In stochastic systems, the probabilities that various different states will be repeated will remain constant. A dynamic equilibrium occurs when two reversible processes occur at the same rate. ...

In many systems, steady state is not achieved until some time has elapsed after the system is started or initiated. This initial situation is often identified as a transient state, start-up or warm-up period. Transient means passing with time. ...

While a dynamic equilibrium occurs when two or more reversible processes occur at the same rate, and such a system can be said to be in steady state; a system that is in steady state may not necessarily be in a state of dynamic equilibrium, because some of the processes involved are not reversible.

For example: The flow of material through a system, or electricity through a network, could be in a steady state because there is a constant flow of material, or electricity. Conversely the filling or draining of a tank with material would be an example of a transient state. Transient means passing with time. ...