Solid-State Transformer Market Report: Trends, Forecast and Competitive Analysis

Solid-State Transformer Market Trends and Forecast

The future of the global solid-state transformer market looks promising with opportunities in the alternative power generation, electric vehicle charging station, power distribution, and traction locomotive markets. The global solid-state transformer market is expected to reach an estimated $206.0 million by 2030 with a CAGR of 11.2% from 2024 to 2030. The major drivers for this market are significantly growing alternative energy sector, rising investments in smart grids and energy systems, and increasing demand of electric vehicles in the developed countries.

A more than 150-page report is developed to help in your business decisions.

Solid-State Transformer Market by Segment

The study includes a forecast for the global solid-state transformer market by product, component, application, end use, and region

Solid State Transformers Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Distribution Solid State Transformers
• Power Solid State Transformers
• Traction Solid State Transformers

Solid State Transformers Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Converters
• High-frequency Transformers
• Switches
• Others

Solid State Transformers Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Alternative Power Generation
• Electric Vehicle Charging Stations
• Power Distribution
• Traction Locomotives
• Others

Solid State Transformers Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Energy
• Transportation
• Others

Solid State Transformers Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Solid-State Transformer Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies solid-state transformer companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solid-state transformer companies profiled in this report include-

• ABB
• General Electric
• Alstom
• Mitsubishi Electric
• Siemens, Schneider
• Cooper Power Systems
• Varentec
• Amantys
• GridBridge

Solid-State Transformer Market Insights

Lucintel forecasts that power solid state transformer will remain the largest segment over the forecast period due to its affordability and availability.

Within this market, power distribution will remain the largest segment due to its power distribution efficiency.

APAC is expected to witness highest growth over the forecast period due to significantly increasing demand for electricity and rising investment in the smart grid technology in the region.

Features of the Global Solid-State Transformer Market

Market Size Estimates: Solid-state transformer market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Solid-state transformer market size by various segments, such as by product, component, application, end use industry, and region in terms of value ($B).

Regional Analysis: Solid-state transformer market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different products, components, applications, end use industries, and regions for the solid-state transformer market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solid-state transformer market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the solid-state transformer market size?

Answer: The global solid-state transformer market is expected to reach an estimated $206.0 million by 2030.

Q.2 What is the growth forecast for solid-state transformer market?

Answer: The global solid-state transformer market is expected to grow with a CAGR of 11.2% from 2024 to 2030

Q.3 What are the major drivers influencing the growth of the solid-state transformer market?

Answer: The major drivers for this market are significantly growing alternative energy sector, rising investments in smart grids and energy systems, and increasing demand of electric vehicles in the developed countries.

Q4. What are the major segments for solid-state transformer market?

Answer: The future of the global solid-state transformer market looks promising with opportunities in the alternative power generation, electric vehicle charging station, power distribution, and traction locomotive markets.

Q5. Who are the key solid-state transformer market companies?

Answer: Some of the key solid-state transformer companies are as follows:

• ABB
• General Electric
• Alstom
• Mitsubishi Electric
• Siemens, Schneider
• Cooper Power Systems
• Varentec
• Amantys
• GridBridge

Q6. Which solid-state transformer market segment will be the largest in future?

Answer: Lucintel forecasts that power solid state transformer will remain the largest segment over the forecast period due to its affordability and availability.

Q7. In solid-state transformer market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to significantly increasing demand for electricity and rising investment in the smart grid technology in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the solid-state transformer market by product (distribution solid state transformer, power solid state transformer, and traction solid state transformer), component (converters, high-frequency transformers, switches, and others), application (alternative power generation, electric vehicle charging stations, power distribution, traction locomotives, and others), end use (energy, transportation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?