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Solid State Transformers Market Analysis

  • Report ID: 6118
  • Published Date: Jun 05, 2024
  • Report Format: PDF, PPT

Solid State Transformers (SST) Market

  1. An Introduction to the Research Study
    1. Preface
    2. Market Taxonomy
    3. Definition of the Market and the Segments
    4. Acronyms and Assumptions
  1. The Research Procedure
    1. Sources of Data
      1. Secondary
      2. Primary
    2. Calculation and Derivation of Market Size
      1. Top-down approach
      2. Bottom-up approach
  2. Executive Summary
  3. Recommendation by Analyst for C-level Executives
  4. Evaluation of Market Fluctuations and Outlook
    1. Market Growth Drivers
    2. Market Growth Deflation
    3. Market Trends
      1. Manufacturer Based
      2. Application Based
  5. Fundamental Market Prospects
    1. Strategic Competitive Opportunities
    2. Geographic Opportunities
    3. Application Centric Opportunities
  6. Regulatory Landscape
  7. Industry Risk Analysis
  8. Value Chain Analysis
  9. Industry Growth Outlook
  10. SWOT Analysis
  11. Analysis on Recent Development
  12. Regional Demand Analysis
  13. Pricing Analysis
  14. PEST Analysis
  15. Analysis on Recent Technology
  16. Application Analysis
  17. Competitive Feature Analysis
  18. Global Solid State Transformers (SST) Market Outlook
    1. Market Summary
    2. Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
    3. Market Volume (Thousand Units) Current and Future Projections, 2024-2037
    4. Market Increment $ Opportunity Assessment, 2024-2037
    5. Global Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    6. By Voltage Type
      1. High Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Medium Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Low Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
    7. Global Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    8. By Application
      1. Renewable Power Generation Market Value (USD Million) Current and Future Projections, 2024-2037
      2. Automotive Market Value (USD Million) Current and Future Projections, 2024-2037
      3. Power Grids Market Value (USD Million) Current and Future Projections, 2024-2037
      4. Traction Locomotive Market Value (USD Million) Current and Future Projections, 2024-2037
      5. Others Market Value (USD Million) Current and Future Projections, 2024-2037
    9. Global Solid State Transformers (SST) Market Segmentation Analysis (2024-2037)
    10. By Geography
      1. North America Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Europe Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Asia Pacific Excluding Japan (APEJ) Excluding Japan Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      4. Japan Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      5. Latin America Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      6. Middle East & Africa Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
  19. Cross Analysis of Voltage Type w.r.t. Application (USD Million), 2024-2037
  20. North America Solid State Transformers (SST) Market Outlook
    1. Outline of the Segment
    2. Detailed Overview
    3. Leading companies in the Solid State Transformers (SST) Market
    4. North America Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    5. By Voltage Type
      1. High Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Medium Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Low Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
    6. North America Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    7. By Application
      1. Renewable Power Generation Market Value (USD Million) Current and Future Projections, 2024-2037
      2. Automotive Market Value (USD Million) Current and Future Projections, 2024-2037
      3. Power Grids Market Value (USD Million) Current and Future Projections, 2024-2037
      4. Traction Locomotive Market Value (USD Million) Current and Future Projections, 2024-2037
      5. Others Market Value (USD Million) Current and Future Projections, 2024-2037
    8. North America Solid State Transformers (SST) Market Segmentation Analysis (2024-2037)
    9. By Country
      1. US Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Canada Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
  21. Cross Analysis of Voltage Type w.r.t. Application (USD Million), 2024-2037
  22. Europe Solid State Transformers (SST) Market Outlook
    1. Outline of the Segment
    2. Detailed Overview
    3. Leading companies in the Solid State Transformers (SST) Market
    4. Europe Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    5. By Voltage Type
      1. High Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Medium Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Low Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
    6. Europe Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    7. By Application
      1. Renewable Power Generation Market Value (USD Million) Current and Future Projections, 2024-2037
      2. Automotive Market Value (USD Million) Current and Future Projections, 2024-2037
      3. Power Grids Market Value (USD Million) Current and Future Projections, 2024-2037
      4. Traction Locomotive Market Value (USD Million) Current and Future Projections, 2024-2037
      5. Others Market Value (USD Million) Current and Future Projections, 2024-2037
    8. Europe Solid State Transformers (SST) Market Segmentation Analysis (2024-2037)
    9. By Country
      1. UK Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Germany Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. France Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      4. Italy Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      5. Spain Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      6. Russia Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      7. BENELUX Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      8. Poland Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      9. Rest of Europe Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
  23. Cross Analysis of Voltage Type w.r.t. Application (USD Million), 2024-2037
  24. Asia Pacific Excluding Japan (APEJ) Solid State Transformers (SST) Market Outlook
    1. Outline of the Segment
    2. Detailed Overview
    3. Leading companies in the Solid State Transformers (SST) Market
    4. Asia Pacific Excluding Japan (APEJ) Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    5. By Voltage Type
      1. High Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Medium Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Low Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
    6. Asia Pacific Excluding Japan (APEJ) Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    7. By Application
      1. Renewable Power Generation Market Value (USD Million) Current and Future Projections, 2024-2037
      2. Automotive Market Value (USD Million) Current and Future Projections, 2024-2037
      3. Power Grids Market Value (USD Million) Current and Future Projections, 2024-2037
      4. Traction Locomotive Market Value (USD Million) Current and Future Projections, 2024-2037
      5. Others Market Value (USD Million) Current and Future Projections, 2024-2037
    8. Asia Pacific Excluding Japan (APEJ) Solid State Transformers (SST) Market Segmentation Analysis (2024-2037)
    9. By Country
      1. China Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. India Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Indonesia Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      4. Australia Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      5. South Korea Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      6. Malaysia Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      7. Vietnam Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      8. Rest of Asia Pacific Excluding Japan (APEJ) Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
  25. Cross Analysis of Voltage Type w.r.t. Application (USD Million), 2024-2037
  26. Japan Solid State Transformers (SST) Market Outlook
    1. Outline of the Segment
    2. Detailed Overview
    3. Leading companies in the Solid State Transformers (SST) Market
    4. Japan Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    5. By Voltage Type
      1. High Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Medium Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Low Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
    6. Japan Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    7. By Application
      1. Renewable Power Generation Market Value (USD Million) Current and Future Projections, 2024-2037
      2. Automotive Market Value (USD Million) Current and Future Projections, 2024-2037
      3. Power Grids Market Value (USD Million) Current and Future Projections, 2024-2037
      4. Traction Locomotive Market Value (USD Million) Current and Future Projections, 2024-2037
      5. Others Market Value (USD Million) Current and Future Projections, 2024-2037
  27. Cross Analysis of Voltage Type w.r.t. Application (USD Million), 2024-2037
  28. Latin America Solid State Transformers (SST) Market Outlook
    1. Outline of the Segment
    2. Detailed Overview
    3. Leading companies in the Solid State Transformers (SST) Market
    4. Latin America Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    5. By Voltage Type
      1. High Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Medium Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Low Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
    6. Latin America Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    7. By Application
      1. Renewable Power Generation Market Value (USD Million) Current and Future Projections, 2024-2037
      2. Automotive Market Value (USD Million) Current and Future Projections, 2024-2037
      3. Power Grids Market Value (USD Million) Current and Future Projections, 2024-2037
      4. Traction Locomotive Market Value (USD Million) Current and Future Projections, 2024-2037
      5. Others Market Value (USD Million) Current and Future Projections, 2024-2037
    8. Latin America Solid State Transformers (SST) Market Segmentation Analysis (2024-2037)
    9. By Country
      1. Mexico Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Argentina Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Brazil Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      4. Rest of Latin America Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
  29. Cross Analysis of Voltage Type w.r.t. Application (USD Million), 2024-2037
  30. Middle East & Africa Solid State Transformers (SST) Market Outlook
    1. Outline of the Segment
    2. Detailed Overview
    3. Leading companies in the Solid State Transformers (SST) Market
    4. Middle East & Africa Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    5. By Voltage Type
      1. High Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Medium Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. Low Voltage Market Value (USD Million) & Volume (Thousand Units) Current and Future Projections, 2024-2037
    6. Middle East & Africa Solid State Transformers (SST) Market Outlook & Projections, Opportunity Assessment by Segment, 2024-2037
    7. By Application
      1. Renewable Power Generation Market Value (USD Million) Current and Future Projections, 2024-2037
      2. Automotive Market Value (USD Million) Current and Future Projections, 2024-2037
      3. Power Grids Market Value (USD Million) Current and Future Projections, 2024-2037
      4. Traction Locomotive Market Value (USD Million) Current and Future Projections, 2024-2037
      5. Others Market Value (USD Million) Current and Future Projections, 2024-2037
    8. Middle East & Africa Solid State Transformers (SST) Market Segmentation Analysis (2024-2037)
    9. By Country
      1. Combined Gulf Countries Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      2. Israel Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      3. South Africa Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
      4. Rest of Middle East & Africa Market Value (USD Million), Volume (Thousand Units) Current and Future Projections, 2024-2037
  31. Cross Analysis of Voltage Type w.r.t. Application (USD Million), 2024-2037
  32. Competitive Positioning: Strategies to Differentiate a Company from Its Competitor
  33. Competitive Model: A Detailed Inside View for Investors
    1. Company Market Share (2023)
    2. Business Profile of Key Enterprise
      1. Hitachi Energy Ltd.
      2. Schneider Electric
      3. Siemens Energy
      4. Eaton
      5. General Electric Company
      6. ERMCO
      7. Alstom
      8. ABB Ltd
      9. Japanese Players
      10. Mitsubishi Electric Corporation

Solid State Transformers Market Analysis

Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotive, Others)

Renewable power generation segment in the solid state transformer market is projected to exceed USD 317 million by the end of 2037 up from a revenue of USD 149 million in the year 2025. This growth of the market can be dominated by the growing production of wind energy. According to the Global Wind Energy Council, across the globe, in 2022 77.6 GW of new wind power capacity was connected to power grids, bringing to 906 GW1 total installed wind capacity, a rise of 9% in contrast with 2021. Hence, the demand for solid state transformer is projected to rise.

Additionally, the automotive segment will hold notable growth in the market over the forecast period. This is because electric vehicles are gaining huge prominence in the market which is a further need for charging centers. Wireless charging for EVs has high efficiency and is anticipated to be faster than charging with a plug due to which the popularity of wireless charging is also growing in electric vehicles. For instance, EV plugs have over 79-94% rate of efficiency. However, the wireless EV chargers hold about 89-92% efficiency. Hence, the market for SST is poised to rise since LFT is replayed with solid-state transformers in wireless charging.

Voltage Type (High Voltage, Medium Voltage, Low Voltage)

In solid state transformer market, medium voltage segment is anticipated to reach USD 342 million by the end of 2037. This is highest as compared to the year 2024 when the revenue will be USD 163 million. In medium-voltage applications, solid-state transformers perform an important role in bridging medium-voltage AC grids to low-voltage power distribution. They perform the role of electronic power interfaces between low voltage (LV) systems and medium voltage (MV), offering pliable connectivity and allowing various smart functionalities.

Our in-depth analysis of the market includes the following segments:

            Voltage Type
  • High Voltage
  • Medium Voltage
  • Low Voltage

            Application
  • Renewable Power Generation
  • Automotive
  • Power Grids
  • Traction Locomotive
  • Others
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Browse Key Market Insights with Data Illustration:

Author Credits:  Dhruv Bhatia


  • Report ID: 6118
  • Published Date: Jun 05, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of solid state transformer was over USD 0.440 billion.

The market size for solid state transformer is set to cross USD 0.824 billion by the end of 2037 expanding at a CAGR of 5.20% during the forecast period i.e., between 2025-2037.

The major players in the market are Hitachi Energy Ltd., Schneider Electric, Siemens Energy, and others.

The medium voltage segment is anticipated to garner a size of USD 0.342 billion during 2025-2037.

The Asia Pacific solid state transformer sector is poised to generate USD 0.0562 billion in revenue by the end of 2037.
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