Global Solid State Transformers (SST) Market Growth 2019-2024

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.
The market of solid state transformers is expected to be driven by the adoption of solid state transformers and demand for alternative power generation, traction locomotives, and power distribution in addition to the electrical vehicle charging stations.
No wonder that solid state transformer is breakthrough technology, and it has huge imagination potential for the industry. But what should not be forgotten is that solid state transformer will not replace conventional transformer, without enough necessity. Proponents of solid-state transformers are not suggesting a rip-and-replace strategy for existing transformers. The strategy for the introduction of solid-state transformers will center around strategic benefits related to the 'green circuit' of the future, rolling out devices on feeders with high PV penetration and EV load.

According to this study, over the next five years the Solid State Transformers (SST) market will register a 21.3% CAGR in terms of revenue, the global market size will reach US$ 200 million by 2024, from US$ 77 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Solid State Transformers (SST) business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Solid State Transformers (SST) market by product type, application, key manufacturers and key regions and countries.

This study considers the Solid State Transformers (SST) value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Single-stage
Two-stage
Three-stage
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Alternative Power Generation
Smart Grid
Traction Locomotives
EV Charging
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
ABB
Siemens
General electric
...

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Solid State Transformers (SST) consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Solid State Transformers (SST) market by identifying its various subsegments.
Focuses on the key global Solid State Transformers (SST) manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Solid State Transformers (SST) with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Solid State Transformers (SST) submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.