The global Solid State Transformer Market size was valued at around USD 91.6 million in 2020. The market is projected to rise from USD 100.7 million in 2021 to USD 213.5 million by 2028 at an 11.3% CAGR during the assessment period 2021-2028. Fortune Business Insights™ has delved into these insights in its latest research report titled, “Solid State Transformer Market, 2021-2028.”
According to the analysis, the demand for solid state transformer (SST) will grow with the need for reducing grid losses across end-use applications. Expanding penetration of electric vehicle charging stations and renewable power generation will provide impetus to industry growth. Some of the upsides, such as efficiency, robustness, and reliability, will bode well for leading companies gearing to bolster their portfolio
Voltage Level, Application, and Region are studied
Based on voltage level, the market is divided into HV/MV and MV/LV.
In terms of application, the market is segmented into electric vehicle charging stations, renewable power generation, traction locomotives, power grids, and others.
On the basis of geography, North America, Asia Pacific, Europe, and the rest of the world are mentioned in the report.
The report is prepared with the use of qualitative and quantitative analysis. The use of primary sources, including interviews of stakeholders and suppliers, has propelled the integrity of the report. The report also includes secondary sources, including annual reports, SEC filings, and studies published by notable organizations. The report also includes top-down and bottom-up approaches to boost estimations and product mapping.
Major Players Profiled in the Market Report
- General Electric (U.S.)
- Alstom (France)
- Eaton (Ireland)
- Hitachi ABB (Japan)
- Power Systems & Control Inc. (Virginia)
- Schneider Electric (France)
- Siemens (Germany)
- Varentec Inc. (U.S.)
- Vollspark (Israel)
- Amantys Limited (U.K.)
- SPX Transformer Solutions (U.S.)
- Ermco (U.S.)
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