Press release
Global Solid State Transformers (SST) Industry is projected to reach 330 Million US$ by 2025
In terms of production side, this report researches the Solid State Transformers (SST) capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and product type.
In terms of consumption side, this report focuses on the consumption of Solid State Transformers (SST) by regions and application. The key regions like North America, Europe, Asia-Pacific, Central & South America, Middle East and Africa etc.
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 for solid state transformers is forecasted to be commercialized by end of 2017 or beginning of 2018 according to our investigation.
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.
Currently, Europe and North America are the most active regions in the research and development of solid state transformers, leading by several traditional transformer vendors such as ABB, GE, Siemens and others. The European market is expected to account for the largest market share, followed by North America and the Asia-Pacific. The growth of the European market is expected to fuel by increasing installed capacity of renewable energy sources such as solar and wind energy. Europe is a prominent market for electric vehicle and the growth of electric vehicle charging stations further offers a huge growth opportunity for the solid state transformer market in this region.
The Solid State Transformers (SST) market was valued at 77 Million US$ in 2017 and is projected to reach 330 Million US$ by 2025, at a CAGR of 23.0% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Solid State Transformers (SST).
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This report includes the following manufacturers; we can also add the other companies as you want.
ABB
Siemens
General Electric
...
Market Segment by Product Type
Single-stage
Two-stage
Three-stage
Market Segment by Application
Alternative Power Generation
Smart Grid
Traction Locomotives
EV Charging
Others
Key Regions split in this report:
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
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