Solid State Transformer Market (Type: Distribution SST, Traction SST, and Power SST; Component: Converters, Switches, High-frequency Transformers, and Others; and Application: Alternate Power Generation, Traction Locomotives, Power Distribution, Electric Vehicle Charging, Research, Unified Power Quality Controller [UPQC], Photovoltaic System, and Others)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Solid State Transformer market gathered revenue around USD 1.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 18% during the prediction period 2021 to 2027.

Solid State Transformer Market Size 2020 to 2027

Report Coverage

Report Scope Details
Market Size USD 1.0 Billion by 2027
Growth Rate CAGR of 18% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Type, Component, Application,and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned ABB, Eaton Corporation plc., General Electric, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Kirloskar Electric Company, Synergy Transformers, SPX Transformers Solutions Inc., ERMCO, and Alstom SA.

The global solid state transformer market is broadly affected by several factors, including usage of solid state transformer in power distribution and alternate power generation; and increasing applications in electric vehicle charging. Thus, expanding applications of solid state transformers in different sectors are propelling the global market.

Solid-state transformer (SST) is an amalgamation of high-powered semiconductor components, control circuitry, and conventional high frequency transformers. It is also known as smart transformer and intelligent universal transformer.

The smart transformers are used to provide additional flexibility to control power distribution networks; thereby, facilitating the smooth conversion of AC to DC and DC to AC, as per requirement. Presently, it caters to a wide variety of applications, ranging from alternative power generation to traction locomotives, power grid and electric industries, and others.

The global solid-state transformer market is presently driven by various factors such as growing renewable electricity production, electric mobility, and heavy investments in smart grids and energy systems. The global shift from fossil-fuel based electricity toward cleaner renewable energy sources has put focus on the development of energy grids for providing load integration and power compensation.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Solid State Transformer market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Solid State Transformer market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Solid State Transformer market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Solid State Transformer Market: Prominent Regions

The solid state transformer market in North America is estimated to expand during the forecast period, owing to the presence of key market players, technological advancements, and growing usage of solid state transformer in various applications in the region. The solid state transformer market in Europe is projected to expand considerably during the forecast period, due to the rise in investments by governments in electric vehicle infrastructure in the region. The solid state transformer market in Asia Pacific is likely to expand during the forecast period, owing to the increase in usage of solid state transformers in electric distribution and the presence of a large number of players engaged in the design and manufacture of solid state transformers in the region.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Solid State Transformer Market include:  ABB, Eaton Corporation plc., General Electric, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Kirloskar Electric Company, Synergy Transformers, SPX Transformers Solutions Inc., ERMCO, and Alstom SA.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

Global Solid State Transformer Market: Segmentation

Solid State Transformer Market, by Type

  • Distribution SST
  • Traction SST
  • Power SST

Solid State Transformer Market, by Component

  • Converters
  • Switches
  • High-frequency Transformers
  • Other

Solid State Transformer Market, by Application

  • Alternate Power Generation
  • Traction Locomotives
  • Power Distribution
  • Electric Vehicle Charging
  • Unified Power Quality Controller (UPQC)
  • Photovoltaic System
  • Others

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Solid State Transformer market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Solid State Transformer market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Solid State Transformer markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Solid State Transformer market Study:

  • Growth of Solid State Transformer in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Solid State Transformer and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Solid State Transformer Consumption Analysis
  •  Solid State Transformer Production Analysis
  •  Solid State Transformer and Management

Chapter 1.    Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.    Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.    Executive Summary

3.1.  Market Snapshot

Chapter 4.    Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.     Raw Material Procurement Analysis

4.3.2.     Sales and Distribution Channel Analysis

4.3.3.     Downstream Buyer Analysis

Chapter 5.    Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.     Market Drivers

5.1.2.     Market Restraints

5.1.3.     Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.     Bargaining power of suppliers

5.2.2.     Bargaining power of buyers

5.2.3.     Threat of substitute

5.2.4.     Threat of new entrants

5.2.5.     Degree of competition

Chapter 6.    Competitive Landscape

6.1.1.     Company Market Share/Positioning Analysis

6.1.2.     Key Strategies Adopted by Players

6.1.3.     Vendor Landscape

6.1.3.1.          List of Suppliers

6.1.3.2.          List of Buyers

Chapter 7.    Global Solid State Transformer Market, By Type

7.1.  Solid State Transformer Market, by Type, 2021-2027

7.1.1.     Distribution SST

7.1.1.1.          Market Revenue and Forecast (2016-2027)

7.1.2.     Traction SST

7.1.2.1.          Market Revenue and Forecast (2016-2027)

7.1.3.     Power SST

7.1.3.1.          Market Revenue and Forecast (2016-2027)

Chapter 8.    Global Solid State Transformer Market, By Component

8.1.  Solid State Transformer Market, by Component, 2021-2027

8.1.1.     Converters

8.1.1.1.          Market Revenue and Forecast (2016-2027)

8.1.2.     Switches

8.1.2.1.          Market Revenue and Forecast (2016-2027)

8.1.3.     High-frequency Transformers

8.1.3.1.          Market Revenue and Forecast (2016-2027)

8.1.4.     Other

8.1.4.1.          Market Revenue and Forecast (2016-2027)

Chapter 9.    Global Solid State Transformer Market, By Application

9.1.  Solid State Transformer Market, by Application, 2021-2027

9.1.1.     Alternate Power Generation

9.1.1.1.          Market Revenue and Forecast (2016-2027)

9.1.2.     Traction Locomotives

9.1.2.1.          Market Revenue and Forecast (2016-2027)

9.1.3.     Power Distribution

9.1.3.1.          Market Revenue and Forecast (2016-2027)

9.1.4.     Electric Vehicle Charging

9.1.4.1.          Market Revenue and Forecast (2016-2027)

9.1.5.     Unified Power Quality Controller (UPQC)

9.1.5.1.          Market Revenue and Forecast (2016-2027)

9.1.6.     Photovoltaic System

9.1.6.1.          Market Revenue and Forecast (2016-2027)

9.1.7.     Others

9.1.7.1.          Market Revenue and Forecast (2016-2027)

Chapter 10.Global Solid State Transformer  Market, Regional Estimates and Trend Forecast

10.1.          North America

10.1.1.  Market Revenue and Forecast, by Type (2016-2027)

10.1.2.  Market Revenue and Forecast, by Component (2016-2027)

10.1.3.  Market Revenue and Forecast, by Application (2016-2027)

10.1.4.  U.S.

10.1.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.1.4.2.       Market Revenue and Forecast, by Component (2016-2027)

10.1.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.1.5.  Rest of North America

10.1.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.1.5.2.       Market Revenue and Forecast, by Component (2016-2027)

10.1.5.3.       Market Revenue and Forecast, by Application (2016-2027)

10.2.          Europe

10.2.1.  Market Revenue and Forecast, by Type (2016-2027)

10.2.2.  Market Revenue and Forecast, by Component (2016-2027)

10.2.3.  Market Revenue and Forecast, by Application (2016-2027)

10.2.4.  UK

10.2.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.2.4.2.       Market Revenue and Forecast, by Component (2016-2027)

10.2.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.2.5.  Germany

10.2.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.2.5.2.       Market Revenue and Forecast, by Component (2016-2027)

10.2.5.3.       Market Revenue and Forecast, by Application (2016-2027)

10.2.6.  France

10.2.6.1.       Market Revenue and Forecast, by Type (2016-2027)

10.2.6.2.       Market Revenue and Forecast, by Component (2016-2027)

10.2.6.3.       Market Revenue and Forecast, by Application (2016-2027)

10.2.7.  Rest of Europe

10.2.7.1.       Market Revenue and Forecast, by Type (2016-2027)

10.2.7.2.       Market Revenue and Forecast, by Component (2016-2027)

10.2.7.3.       Market Revenue and Forecast, by Application (2016-2027)

10.3.          APAC

10.3.1.  Market Revenue and Forecast, by Type (2016-2027)

10.3.2.  Market Revenue and Forecast, by Component (2016-2027)

10.3.3.  Market Revenue and Forecast, by Application (2016-2027)

10.3.4.  India

10.3.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.3.4.2.       Market Revenue and Forecast, by Component (2016-2027)

10.3.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.3.5.  China

10.3.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.3.5.2.       Market Revenue and Forecast, by Component (2016-2027)

10.3.5.3.       Market Revenue and Forecast, by Application (2016-2027)

10.3.6.  Japan

10.3.6.1.       Market Revenue and Forecast, by Type (2016-2027)

10.3.6.2.       Market Revenue and Forecast, by Component (2016-2027)

10.3.6.3.       Market Revenue and Forecast, by Application (2016-2027)

10.3.7.  Rest of APAC

10.3.7.1.       Market Revenue and Forecast, by Type (2016-2027)

10.3.7.2.       Market Revenue and Forecast, by Component (2016-2027)

10.3.7.3.       Market Revenue and Forecast, by Application (2016-2027)

10.4.          MEA

10.4.1.  Market Revenue and Forecast, by Type (2016-2027)

10.4.2.  Market Revenue and Forecast, by Component (2016-2027)

10.4.3.  Market Revenue and Forecast, by Application (2016-2027)

10.4.4.  GCC

10.4.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.4.4.2.       Market Revenue and Forecast, by Component (2016-2027)

10.4.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.4.5.  North Africa

10.4.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.4.5.2.       Market Revenue and Forecast, by Component (2016-2027)

10.4.5.3.       Market Revenue and Forecast, by Application (2016-2027)

10.4.6.  South Africa

10.4.6.1.       Market Revenue and Forecast, by Type (2016-2027)

10.4.6.2.       Market Revenue and Forecast, by Component (2016-2027)

10.4.6.3.       Market Revenue and Forecast, by Application (2016-2027)

10.4.7.  Rest of MEA

10.4.7.1.       Market Revenue and Forecast, by Type (2016-2027)

10.4.7.2.       Market Revenue and Forecast, by Component (2016-2027)

10.4.7.3.       Market Revenue and Forecast, by Application (2016-2027)

10.5.          Latin America

10.5.1.  Market Revenue and Forecast, by Type (2016-2027)

10.5.2.  Market Revenue and Forecast, by Component (2016-2027)

10.5.3.  Market Revenue and Forecast, by Application (2016-2027)

10.5.4.  Brazil

10.5.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.5.4.2.       Market Revenue and Forecast, by Component (2016-2027)

10.5.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.5.5.  Rest of LATAM

10.5.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.5.5.2.       Market Revenue and Forecast, by Component (2016-2027)

10.5.5.3.       Market Revenue and Forecast, by Application (2016-2027)

Chapter 11.   Company Profiles

11.1.                 ABB

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.                 Eaton Corporation plc

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.                 General Electric

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.                 Mitsubishi Electric Corporation

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.                 Schneider Electric SE

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.                 Siemens AG

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.                 Kirloskar Electric Company

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.                 Synergy Transformers

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.                 SPX Transformers Solutions Inc

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.              ERMCO

11.10.1.                   Company Overview

11.10.2.                   Product Offerings

11.10.3.                   Financial Performance

11.10.4.                   Recent Initiatives

Chapter 12.   Research Methodology

12.1.                 Primary Research

12.2.                 Secondary Research

12.3.                 Assumptions

Chapter 13.   Appendix

13.1.                 About Us

13.2.                 Glossary of Terms

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