Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalog by adding a fresh study titled "Solid State Transformer Market is expected to register Significant CAGR of 21.7%". This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2027. The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated with a growth of manufacturers in the global market for Solid State Transformer. Along with these insights, the report provides the readers with crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.
The report includes detailed value chain analysis, which provides an extensive view of the global solid state transformer market. Porter’s five forces analysis has also been provided in the report to help understand the competition scenario of the market. The study incorporates market attractiveness analysis, wherein product, component, and application segments have been benchmarked based on their market size, growth rate, and attractiveness. In order to offer complete analysis of the competition scenario of the solid state transformer market, attractiveness analysis of the market in every region has been provided in the report.
Solid state transformer (SST) is also known as electronic power transformer or power electronic transformer. An SST can be defined as a type of electric power converter that is used as an AC-to-AC converter in AC electric power distribution and that replaces a conventional transformer. Although a solid state transformer is more complex than a conventional converter, it is more efficient and smaller than the conventional transformer. An SST generally contains a high-frequency transformer inside the DC-to-DC converter or AC-to-AC converter, which transmits power and offers electric isolation. Currently, solid state transformers are increasingly being used in the electrical industry in applications such as alternative power generation, power grids, and traction locomotives. The global solid state transformer market is expected to reach value of US$ 1,141.0 Mn by 2027, expanding at a CAGR of 21.7% from 2019 to 2027.
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The market overview chapter explains market trends and dynamics that include drivers, restraining factors, and the current and future opportunities for the global solid state transformer market. Market outlook analysis has also been provided in the report. Additionally, the report provides analysis of different business strategies being adopted by leading players operating in the global solid state transformer market. The market introduction chapter helps in gaining an idea of different trends prevalent in the global solid state transformer market.
The study provides a decisive view of the global solid state transformer market, by segmenting the market in terms of product, component, and application. The report provides a detailed, region-wise segmentation of the global solid state transformer market and sub-categorizes it into various countries, thereby providing valuable insights at micro and macro levels.
The report further highlights the competition scenario in the global solid state transformer market, thereby ranking all major players according to their geographical presence and key recent developments. Insights for the market is a result of extensive primary interviews, secondary research, and in-house expert panel reviews. Market estimates have been analyzed by considering the impact of different economic, political, social, legal, and technological factors.
The solid state transformer market in North America has been segmented into Canada, the U.S., and Rest of North America. Furthermore, the Europe market has been divided into France, Germany, the U.K., and Rest of Europe. The solid state transformer market in Asia Pacific has been classified into China, India, Japan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. Similarly, South America includes Brazil and Rest of South America. The report provides all strategic information required to understand the global solid state transformer market. The report also offers insights into different product, component, and application segments of the market in various regions mentioned above.
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The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary research sources include annual reports, company websites, SEC filings, investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, and statistical databases.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews of the solid state transformer market across geographies. Primary interviews are usually conducted on an ongoing basis with market experts and participants in order to obtain the latest market insights and validate the existing data and analysis. Primary interviews offer new information on important factors such as market trends, market size, competition landscape, and growth trends. These factors help validate and strengthen secondary research findings. Moreover, the data collected from secondary and primary research is discussed and examined by TMR’s expert panel.
The research study includes profiles of leading companies operating in the global solid state transformer market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Key players profiled in the report are ABB Ltd., Alstom SA, Amantys Limited, Eaton, General Electric Co., Gridbridge, Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, and Varentec, Inc. Companies are focusing on expanding their business through strategic acquisitions and partnerships.
The global solid state transformer market has been segmented as follows:
Global Solid State Transformer Market, by Product
Distribution SST
Traction SST
Power SST
Global Solid State Transformer Market, by Component
Converters
Switches
High-frequency Transformers
Others
Global Solid State Transformer Market, by Application
Alternative Power Generation
Traction Locomotives
Power Distribution
Electric Vehicle Charging
Others (UPQC, etc.)
Global Solid State Transformer Market, by Region
North America
U.S.
Canada
Rest of North America
Europe
Germany
France
U.K.
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Middle East & Africa (MEA)
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
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