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Solid state transformer, also known as power electronic transformer (EPT), is a kind of electric power electronic transformation technology and electromagnetic induction principle based on the combination of high-frequency power conversion technology to achieve power characteristics of electricity into other Electric power characteristics of the static electrical equipment. Compared with the conventional transformer, EPT has many advantages, its outstanding feature is that the original current can be achieved, the side voltage and power of flexible control. EPT applied to the power system will improve the power quality; improve system stability, to achieve a flexible transmission and power market power flow under real-time control.
LPI (LP Information)' newest research report, the "Solid State Transformers (SST) Industry Forecast" looks at past sales and reviews total world Solid State Transformers (SST) sales in 2022, providing a comprehensive analysis by region and market sector of projected Solid State Transformers (SST) sales for 2023 through 2029. With Solid State Transformers (SST) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solid State Transformers (SST) industry.
This Insight Report provides a comprehensive analysis of the global Solid State Transformers (SST) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Solid State Transformers (SST) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Solid State Transformers (SST) market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solid State Transformers (SST) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solid State Transformers (SST).
The global Solid State Transformers (SST) market size is projected to grow from US$ 291.5 million in 2022 to US$ 1229.1 million in 2029; it is expected to grow at a CAGR of 22.8% from 2023 to 2029.
The major players in global Solid State Transformers (SST) market include ABB, Siemens, General electric, etc. North America, Asia-Pacific and Europe are main markets. Two-stage and Three-stage are two main types, with a share about 90%. Alternative Power Generation and Smart Grid are two key applications, which hold a share about 70%.
This report presents a comprehensive overview, market shares, and growth opportunities of Solid State Transformers (SST) market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
- Single-stage
- Two-stage
- Three-stage
Segmentation by application
- Alternative Power Generation
- Smart Grid
- Traction Locomotives
- EV Charging
- Others
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- ABB
- Siemens
- General electric