Global Solid State Transformers (SST) Market is expected to grow at a positive CAGR in the estimated period. A solid state transformer is a component comprising a multi-stage power electronics converter isolated having a high frequency transformer. On contrary, classical distribution transformer possess characteristics such as bulkiness, harmful on exposure to external environment, produces large inrush currents owing to core saturation. Whereas, a solid state transformer overcomes all hurdles and offers output compensation, instantaneous voltage regulation, voltage sag compensation, fault isolation, harmonic isolation, DC output, environmental benefit and metering or advanced distribution automation.
The need to manufacture solid state transformers rose due to need for conversion of AC to AC step-up or step-down with some functions identical to that of a conventional transformer. Simply put, the disadvantages offered by conventional transformer are overcome by a solid state transformer and a more relevant and precise output can be achieved. Also, it has the capacity to work as energy router for smart grid energy internet. Hence, the field of application of power electronic based solid state transformer is not limited upto only distribution level.
Commercially, the driving factors responsible for the growth of solid state transformers (SST) market include growing demand for alternative power generation. Also, the rising adoption of renewable power sources such as wind & solar energy, traction locomotives are some major factors driving the solid state transformers (SST) market growth.
Geographically, the solid state transformers (SST) market spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa.North America dominates the market growth in the estimated period owing to manufacture of solid state transformers (SST) and high awareness among the consumers for power generation. APAC regions are also expected to grow at a higher CAGR in the estimated period. MEA regions pose as potential regions for the development of solid state transformers (SST) market.
The key players in the solid state transformers (SST) market include ABB Ltd., Schneider Electric SE, General Electric Co., Siemens AG, Alstom SA, Mitsubishi Electric Corporation, Eaton Corporation plc (Cooper Power Systems), Gridbridge, Inc., Varentec, Inc. and Maschinenfabrik Reinhausen (MR)
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Solid State Transformer in these regions, from 2012 to 2022 (forecast), covering
• United States
• South Korea
Global Solid State Transformer market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Schneider Electric
• Maschinenfabrik Reinhausen
• Eaton Corporation
• Mitsubishi Electric
• General Electric
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Power Solid State Transformer
• Distribution Solid State Transformer
• Traction Solid State Transformer
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Solid State Transformer for each application, including
• Electric Vehicle Charging Stations
• Power Distribution
• Alternative Power Generation
• Traction Locomotives
Research Support Specialist, USA