Static equilibrium refers to the physical state of the system, in which the components of the system are at rest and the net force acting on a system should be zero.
All the forces acting on an object cancels each other due the which an object will be at rest.
All rigid structures must maintain their static equilibrium under all conditions.
In static equilibrium, the Rate of forwarding reaction and backward reaction is zero.
For example, a book at rest has net force on it as zero.
An example of static equilibrium is the conversion of diamond into graphite.
In the conversion of Graphite into Diamond is almost impossible, only possible when we give a very high activation energy and temperature above .
At room temperature, this conversion takes billion of years. So we can say that Diamond and Graphite both exist in static equilibrium as their reaction rate at room temperature is effectively zero.