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Solid State Transformer Market Size, Forecast

  • The latest research study “Solid State Transformer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that The global Solid State Transformer Market size reached US$ 163.57 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 378.55 Million by 2027 exhibiting a growth rate (CAGR) of 14.60% during 2022-2027.

    Covid-19 Impact: 

    We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

    A solid state transformer (SST), also called a smart transformer, represents a modern electrical energy device that offers bi-directional power flow. It is capable of interconnecting asynchronous networks, compensating voltage sags and harmonic distortion, interfacing direct current (DC) and alternating current (AC) ports, etc. A solid state transformer can also isolate disturbances from source and load or vice versa and eliminates the use of mechanical actuators or tap changers. Consequently, it finds extensive applications in traction or locomotives, power grids, electric ships, etc., across the globe.

    Request a PDF Sample Copy for more detailed market insights: https://www.imarcgroup.com/solid-state-transformer-market/requestsample 

    Solid State Transformer Market Trends and Drivers: 

    The widespread adoption of electric vehicles (EVs), on account of the growing consumer environmental awareness, is primarily driving the solid state transformer market. Additionally, the expanding energy sector is further catalyzing the market growth. 

    Besides this, a solid state transformer helps in integrating several distributed energy sources into the distribution grid with various functionalities, which is acting as another significant growth-inducing factor. Moreover, the increasing utilization of SSTs as superior alternatives to conventional transformers as they provide a wide array of services to smart grids, including reactive power compensation, power quality improvement, current limiting, voltage regulation, power factor correction, etc., is positively influencing the global market. 

    Apart from this, numerous technological advancements and the rising investments in R&D activities are anticipated to fuel the solid state transformer market over the forecasted period.

    Report Segmentation: 

    The report has been segmented the market into following categories:

    Breakup by Product:

    • Distribution Solid State Transformer
    • Power Solid State Transformer
    • Traction Solid State Transformer

     Breakup by Component:

    • Converters
    • High-frequency Transformers
    • Switches
    • Others

     Breakup by Voltage Level:

    • HV/MV
    • MV/LV

    Breakup by Application:

    • Alternative Power Generation
    • Electric Vehicle Charging Stations
    • Power Distribution
    • Traction Locomotives
    • Others

     Breakup by End User:

    • Energy
    • Transportation
    • Others

    By Geography:

    • North America

    o United States

    o Canada

    • Asia-Pacific

    o China

    o Japan

    o India

    o South Korea

    o Australia

    o Indonesia

    o Others

    • Europe

    o Germany

    o France

    o United Kingdom

    o Italy

    o Spain

    o Russia

    o Others

    • Latin America

    o Brazil

    o Mexico

    o Others

    • Middle East and Africa

    List of Major Key Players: 

    The major players in the market are ABB Ltd., Alstom SA, Eaton Corporation PLC, Electric Research and Manufacturing Cooperative Inc. (ERMCO) (Arkansas Electric Cooperatives Inc.), General Electric Company, Hitachi Ltd., Kirloskar Electric Company Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Synergy Transformers and Vollspark.

    Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=5906&flag=C 

    Key highlights of the report:

    • Market Performance (2016-2021)
    • Market Outlook (2022- 2027)
    • Porter’s Five Forces Analysis
    • Market Drivers and Success Factors
    • WOT Analysis
    • Value Chain
    • Comprehensive Mapping of the Competitive Landscape

    If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

     

    About Us:

    IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

    IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

    Contact Us:

    IMARC Services Private Limited.

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    Sheridan, WY 82801 USA – Wyoming

    Email: Sales@imarcgroup.com

    Tel No:(D) +91 120 433 0800

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