Global Solid State Transformer Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028

Stratistics MRC's Global Solid State Transformer Market value is expected to reach $248.73 million growing at a CAGR of 13.3% during 2022-2028.

Solid-state transformers (SST) are made up of high-power semiconductors, control circuits, and high-frequency transformers. It is also known as a smart transformer or an intelligent universal transformer. Smart transformers provide increased control flexibility in power distribution networks, enabling for seamless AC-DC and DC-AC conversions as needed. It is being used in a variety of applications, including alternative energy generation, traction trains, the power grid, and the electric industry. When linked to the electricity grid, solid-state transformers handle voltage changes independently.
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By geography, Europe is projected to have the highest CAGR over the forecast period, owing to the presence of key players in the region. The need for power distribution systems is likely to rise as numerous foreign corporations boost their investments. New technical breakthroughs in the industrial sector, together with an increase in the number of electric vehicles in the region, are likely to enhance the market outlook even further. Furthermore, various current contracts by key businesses are expected to boost the industry in the region.

Some of the key players profiled in the Solid State Transformer Market include Ermco, Siemens AG, Mitsubishi Electric Corporation, Maschinenfabrik Reinhausen (MR), ABB, Eaton Corporation plc, Cooper Power Systems, Hitachi, General Electric Co., Alstom SA, SPX Transformer Solutions, Schneider Electric SE, Varentec, Inc., Amantys Limited, Gridbridge, Inc, Delta Electronics Inc, Red Box Aviation and Power Systems & Controls Inc.
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Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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