Solid State Transformer Market Forecasts to 2028 – Global Analysis By Voltage Level (High Voltage (HV), Medium Voltage (MV), Low Voltage (LV)), Component (Converters, Switches, High Voltage Inductors), and By Geography
Global Solid State Transformer Market
According to Stratistics MRC, the Global Solid State Transformer Market is accounted for $142.96 million in 2020 and is expected to reach $519.40 million by 2028 growing at a CAGR of 17.5% during the forecast period. Growing investments in smart grids & energy systems and rising inclination for alternative energy sector are the major factors propelling the market growth. However, reluctance of power companies to replace aging energy infrastructures and high initial costs of solid-state transformers are hampering the market growth.
Solid-state transformer (SST) is an advanced type of transformer that incorporates various semiconductor control circuits, components, and another high-frequency transformer. Compared to traditional transformers, it enhances the quality of the power by controlling voltage fluctuations. It allows voltage conversion from Alternate Current (AC) to Direct Current (DC), DC to AC, and also DC to DC on different voltage levels.
Based on application, the renewable power generation segment is estimated to have a lucrative growth due to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation as they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the growing investment in smart grid technology and the increasing demand for electricity leading to increasing investment in power infrastructure all over the region. With the growing investment on distribution networks, the companies are now focusing on smart grids, which is likely to drive the demand for SST in the country during the forecast period.
Some of the key players profiled in the Global Solid State Transformer Market include Alstom SA, Amantys, Eaton, Ermco, General Electric, Hitachi, Mitsubishi Electric, Power Systems and Controls, Ins, Red Box Aviation, Schneider Electric, Siemens, SPX Transformer Solutions, Varentec, and VOLLSPARK.
Product Types Covered:
• Distribution Solid-State Transformer
• Power Solid-State Transformer
• Traction Solid-State Transformer
Voltage Levels Covered:
• High Voltage (HV)
• Medium Voltage (MV)
• Low Voltage (LV)
Components Covered:
• Converters
• Switches
• High-frequency Transformers
• High Voltage Inductors
• High Voltage Capacitors
• High Voltage Resistors
Configurations Covered:
• Single Stage SST
• Two Stage with Low Voltage Direct Current (LVDC) Link
• Two Stage with High Voltage Direct Current (HVDC) Link
• Three Stage SST
Applications Covered:
• Automotive
• Electric Vehicle Charging Stations
• Photovoltaic System
• Power Distribution
• Power Grids
• Smart Grid
• Renewable Power Generation
• Traction Locomotives
• Unified Power Quality Controller (UPQC)
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Solid State Transformer Market, By Product Type
5.1 Introduction
5.2 Distribution Solid-State Transformer
5.3 Power Solid-State Transformer
5.4 Traction Solid-State Transformer
6 Global Solid State Transformer Market, By Voltage Level
6.1 Introduction
6.2 High Voltage (HV)
6.3 Medium Voltage (MV)
6.4 Low Voltage (LV)
7 Global Solid State Transformer Market, By Component
7.1 Introduction
7.2 Converters
7.2.1 AC to DC Converters
7.2.2 DC to AC Converters
7.2.3 DC to DC Converters
7.2.4 AC to AC Converters
7.3 Switches
7.3.1 Silicon Carbide (SiC) Power Metal-Oxide-Semiconductor Field Effect Transistor (MOSFET)
7.3.2 Power Diodes
7.3.3 Insulated Gate Bi-Polar Transistors
7.4 High-frequency Transformers
7.5 High Voltage Inductors
7.6 High Voltage Capacitors
7.7 High Voltage Resistors
8 Global Solid State Transformer Market, By Configuration
8.1 Introduction
8.2 Single Stage SST
8.3 Two Stage with Low Voltage Direct Current (LVDC) Link
8.4 Two Stage with High Voltage Direct Current (HVDC) Link
8.5 Three Stage SST
9 Global Solid State Transformer Market, By Application
9.1 Introduction
9.2 Automotive
9.3 Electric Vehicle Charging Stations
9.4 Photovoltaic System
9.5 Power Distribution
9.6 Power Grids
9.7 Smart Grid
9.8 Renewable Power Generation
9.8.1 Wind Power
9.8.2 Solar Power
9.8.3 Tidal Power
9.9 Traction Locomotives
9.10 Unified Power Quality Controller (UPQC)
10 Global Solid State Transformer Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Alstom SA
12.2 Amantys
12.3 Eaton
12.4 Ermco
12.5 General Electric
12.6 Hitachi
12.7 Mitsubishi Electric
12.8 Power Systems and Controls, Ins
12.9 Red Box Aviation
12.10 Schneider Electric
12.11 Siemens
12.12 SPX Transformer Solutions
12.13 Varentec
12.14 VOLLSPARK
List of Tables
1 Global Solid State Transformer Market Outlook, By Region (2019-2028) ($MN)
2 Global Solid State Transformer Market Outlook, By Product Type (2019-2028) ($MN)
3 Global Solid State Transformer Market Outlook, By Distribution Solid-State Transformer (2019-2028) ($MN)
4 Global Solid State Transformer Market Outlook, By Power Solid-State Transformer (2019-2028) ($MN)
5 Global Solid State Transformer Market Outlook, By Traction Solid-State Transformer (2019-2028) ($MN)
6 Global Solid State Transformer Market Outlook, By Voltage Level (2019-2028) ($MN)
7 Global Solid State Transformer Market Outlook, By High Voltage (HV) (2019-2028) ($MN)
8 Global Solid State Transformer Market Outlook, By Medium Voltage (MV) (2019-2028) ($MN)
9 Global Solid State Transformer Market Outlook, By Low Voltage (LV) (2019-2028) ($MN)
10 Global Solid State Transformer Market Outlook, By Component (2019-2028) ($MN)
11 Global Solid State Transformer Market Outlook, By Converters (2019-2028) ($MN)
12 Global Solid State Transformer Market Outlook, By AC to DC Converters (2019-2028) ($MN)
13 Global Solid State Transformer Market Outlook, By DC to AC Converters (2019-2028) ($MN)
14 Global Solid State Transformer Market Outlook, By DC to DC Converters (2019-2028) ($MN)
15 Global Solid State Transformer Market Outlook, By AC to AC Converters (2019-2028) ($MN)
16 Global Solid State Transformer Market Outlook, By Switches (2019-2028) ($MN)
17 Global Solid State Transformer Market Outlook, By Silicon Carbide (SiC) Power Metal-Oxide-Semiconductor Field Effect Transistor (MOSFET) (2019-2028) ($MN)
18 Global Solid State Transformer Market Outlook, By Power Diodes (2019-2028) ($MN)
19 Global Solid State Transformer Market Outlook, By Insulated Gate Bi-Polar Transistors (2019-2028) ($MN)
20 Global Solid State Transformer Market Outlook, By High-frequency Transformers (2019-2028) ($MN)
21 Global Solid State Transformer Market Outlook, By High Voltage Inductors (2019-2028) ($MN)
22 Global Solid State Transformer Market Outlook, By High Voltage Capacitors (2019-2028) ($MN)
23 Global Solid State Transformer Market Outlook, By High Voltage Resistors (2019-2028) ($MN)
24 Global Solid State Transformer Market Outlook, By Configuration (2019-2028) ($MN)
25 Global Solid State Transformer Market Outlook, By Single Stage SST (2019-2028) ($MN)
26 Global Solid State Transformer Market Outlook, By Two Stage with Low Voltage Direct Current (LVDC) Link (2019-2028) ($MN)
27 Global Solid State Transformer Market Outlook, By Two Stage with High Voltage Direct Current (HVDC) Link (2019-2028) ($MN)
28 Global Solid State Transformer Market Outlook, By Three Stage SST (2019-2028) ($MN)
29 Global Solid State Transformer Market Outlook, By Application (2019-2028) ($MN)
30 Global Solid State Transformer Market Outlook, By Automotive (2019-2028) ($MN)
31 Global Solid State Transformer Market Outlook, By Electric Vehicle Charging Stations (2019-2028) ($MN)
32 Global Solid State Transformer Market Outlook, By Photovoltaic System (2019-2028) ($MN)
33 Global Solid State Transformer Market Outlook, By Power Distribution (2019-2028) ($MN)
34 Global Solid State Transformer Market Outlook, By Power Grids (2019-2028) ($MN)
35 Global Solid State Transformer Market Outlook, By Smart Grid (2019-2028) ($MN)
36 Global Solid State Transformer Market Outlook, By Renewable Power Generation (2019-2028) ($MN)
37 Global Solid State Transformer Market Outlook, By Wind Power (2019-2028) ($MN)
38 Global Solid State Transformer Market Outlook, By Solar Power (2019-2028) ($MN)
39 Global Solid State Transformer Market Outlook, By Tidal Power (2019-2028) ($MN)
40 Global Solid State Transformer Market Outlook, By Traction Locomotives (2019-2028) ($MN)
41 Global Solid State Transformer Market Outlook, By Unified Power Quality Controller (UPQC) (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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