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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.
Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global Solid State Transformers (SST) market is projected to reach US$ 1217.1 million by 2028 from an estimated US$ 369.1 million in 2022, at a CAGR of 22.0% during 2023 and 2028.
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 aims to provide a comprehensive presentation of the global market for Solid State Transformers (SST), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyse their position in the current marketplace, and make informed business decisions regarding Solid State Transformers (SST).
The Solid State Transformers (SST) market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2021 as the base year, with history and forecast data for the period from 2017 to 2028. This report segments the global Solid State Transformers (SST) market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Solid State Transformers (SST) companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.
Key Companies & Market Share Insights
In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue by companies for the period 2017-2022. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:
- General electric
Product Type Insights
Global markets are presented by Solid State Transformers (SST) type, along with growth forecasts through 2028. Estimates on revenue are based on the price in the supply chain at which the Solid State Transformers (SST) are procured by the companies.
This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows revenue data by type, and during the historical period (2017-2022) and forecast period (2023-2028).
Solid State Transformers (SST) Segment by Type
This report has provided the market size (revenue data) by application, during the historical period (2017-2022) and forecast period (2023-2028).
This report also outlines the market trends of each segment and consumer behaviors impacting the Solid State Transformers (SST) market and what implications these may have on the industry's future. This report can help to understand the relevant market and consumer trends that are driving the Solid State Transformers (SST) market.
Solid State Transformers (SST) Segment by Application
- Alternative Power Generation
- Smart Grid
- Traction Locomotives
- EV Charging
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue of each region and country for the period 2017-2028.
The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America, Middle East & Africa. Detailed analysis of major countries such as the USA, Germany, the U.K., Italy, France, China, Japan, South Korea, Southeast Asia, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2021 because of the base year, with estimates for 2022 and forecast revenue for 2028.
- North America
- - United States
- - Canada
- - Germany
- - France
- - U.K.
- - Italy
- - Russia
- - Nordic Countries
- - Benelux
- - Rest of Europe
- - China
- - Japan
- - South Korea
- - India
- - Southeast Asia
- - Australia
- - Rest of Asia-Pacific
- Latin America
- - Mexico
- - Brazil
- - Argentina
- - Rest of Latin America
- Middle East & Africa
- - Turkey
- - Saudi Arabia
- - UAE
- - Rest of Middle East & Africa
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
COVID-19 and Russia-Ukraine War Influence Analysis
The readers in the section will understand how the Solid State Transformers (SST) market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transportation, consumer behavior, supply chain management. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.
Reasons to Buy This Report
This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Solid State Transformers (SST) market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
This report will help stakeholders to understand the global industry status and trends of Solid State Transformers (SST) and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in value), competitor ecosystem, new product development, expansion, and acquisition.
This report stays updated with novel technology integration, features, and the latest developments in the market
This report helps stakeholders to understand the COVID-19 and Russia-Ukraine War Influence on the Solid State Transformers (SST) industry.
This report helps stakeholders to gain insights into which regions to target globally.
This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Solid State Transformers (SST).
This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.