Solid State Transformer Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is poised to dominate majority revenue share of 44.7% by 2035. This growth of the market is set to be influenced by the rising urban population. For instance, according to UNICEF, Asia’s cities are rising significantly reaching over 55 percent of the population by 2030. Therefore, the need for energy is growing which is further increasing revenue for solid state transformer in this region.
The China market for solid state transformer is predicted to gather the highest market revenue by 2035 on account of the rising demand for electricity. There has been a growing installation of solar panels in Indian market leading to the market’s growth.
The market for solid state transformer in Indonesia country will hold notable growth in its revenue. This could be owing to the rising presence of key players.
European Market Insights
The Europe solid state transformer market is projected to have a significant rise over the forecast period. This growth of the market in this region can be impelled by the growing investment in the cloud. The growth in the Germany country is expected to be influenced by the growing emphasis on net zero which has further boosted demand for sustainable energy.
The UK market for solid state transformer is also poised to rise in this region on account of the surging development of advanced SST equipment to satisfy a large number of customers.
The market in France for solid state transformer is also estimated to have notable growth in the market owing to the rise in population.
