Market Overview:
The global power solid state transformer market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for alternative power generation and electric vehicles. Additionally, the growing need for reliable and efficient power distribution is also contributing to the growth of this market.
Product Definition:
A power solid state transformer is a type of transformer that uses semiconductor devices, such as transistors, to convert electrical power. They are used in a wide range of applications, including data centers, telecommunications networks, and industrial plants.
Converters:
Converters are electronic devices used to change the direct current (DC) to alternate current and vice versa. The power solid state transformer is an electronic device that converts the alternating voltage to steady-state DC and visa versa. It does not convert AC to DC but rather it changes a varying amount of AC into a constant amount of DC with no loss of energy.
The global converters market size was valued at USD 1,64,848 in 2015.
Switches:
Switches are electronic devices used to connect two or more circuits and turn on/off the current flow in a specific sequence. They are available in different forms such as semiconductor, relay, relay contactor and electromechanical. Switches find their application in power solid state transformer market for controlling the flow of electric power from one circuit to another.
The growing demand for smart grid technology is expected to drive the global power solid state transformer market over the forecast period.
Application Insights:
The market is segmented by application into alternative power generation, electric vehicle charging stations, traction locomotive, power distribution and others. The traction locomotive segment accounted for the largest revenue share in 2017 owing to the growing demand for high-power solid state transformers from railways authorities across the globe. The rising number of railway electrification projects is also expected to drive the product demand over the forecast period.
The electric vehicle charging stations segment is projected to exhibit a significant CAGR during the study period owing to increasing government initiatives regarding reducing carbon emissions and promoting renewable energy sources such as solar and wind energy among other alternatives such as hydrogen fuel cells which are still in an experimental stage globally. Increasing investments by companies including Siemens AG (Germany), ABB Ltd (Switzerland), Alstom Power Systems Inc (U.S.), General Electric Company (U.S.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for solid state transformers in countries, such as China and Japan. In addition, rising investments in infrastructure development are also likely to drive product demand over the next eight years.
The Asia Pacific region accounted for a revenue share of more than 30% in 2017 owing to high penetration of electric vehicles and growing alternative power generation sector across several countries including China, India, South Korea, Taiwan among others will boost industry growth over the coming years. Europe is anticipated to witness steady growth from 2018 until 2030 due largely not only its large presence of manufacturing bases but also because it has been one of Tesla’s major markets since 2010 with more than 400 locations sold worldwide (excluding Switzerland).
Growth Factors:
- Increasing demand for miniaturization in electronic devices
- Rising demand from data centers and renewable energy sector
- Growing popularity of solid state transformer technology among consumers
- Proliferation of Internet of Things (IoT) and smart grid infrastructure
- Technological advancements in the field of power electronics
Scope Of The Report
Report Attributes
Report Details
Report Title
Power Solid State Transformer Market Research Report
By Type
Converters, Switches, High-Frequency Transformers, Others
By Application
Alternative Power Generation, Electric Vehicle Charging Stations, Traction Locomotiver, Power Distribution, Others
By Companies
ABB Ltd. (Switzerland), General Electric Co. (U.S.), Alstom SA (France), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Schneider Electric SE (France), Cooper Power Systems (Brazil), ABB Ltd. (Switzerland)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
134
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Power Solid State Transformer Market Report Segments:
The global Power Solid State Transformer market is segmented on the basis of:
Types
Converters, Switches, High-Frequency Transformers, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Alternative Power Generation, Electric Vehicle Charging Stations, Traction Locomotiver, Power Distribution, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB Ltd. (Switzerland)
- General Electric Co. (U.S.)
- Alstom SA (France)
- Mitsubishi Electric Corporation (Japan)
- Siemens AG (Germany)
- Schneider Electric SE (France)
- Cooper Power Systems (Brazil)
- ABB Ltd. (Switzerland)
Highlights of The Power Solid State Transformer Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Converters
- Switches
- High-Frequency Transformers
- Others
- By Application:
- Alternative Power Generation
- Electric Vehicle Charging Stations
- Traction Locomotiver
- Power Distribution
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Power Solid State Transformer Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A power solid state transformer (PSST) is a type of electronic transformer that uses solid-state devices to convert electrical energy into other forms of energy.
Some of the major players in the power solid state transformer market are ABB Ltd. (Switzerland), General Electric Co. (U.S.), Alstom SA (France), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Schneider Electric SE (France), Cooper Power Systems (Brazil), ABB Ltd. (Switzerland).
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Power Solid State Transformer Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Power Solid State Transformer Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Power Solid State Transformer Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Power Solid State Transformer Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Power Solid State Transformer Market Size & Forecast, 2020-2028
4.5.1 Power Solid State Transformer Market Size and Y-o-Y Growth
4.5.2 Power Solid State Transformer Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Converters
5.2.2 Switches
5.2.3 High-Frequency Transformers
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Alternative Power Generation
6.2.2 Electric Vehicle Charging Stations
6.2.3 Traction Locomotiver
6.2.4 Power Distribution
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Power Solid State Transformer Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Power Solid State Transformer Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Converters
9.6.2 Switches
9.6.3 High-Frequency Transformers
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Alternative Power Generation
9.10.2 Electric Vehicle Charging Stations
9.10.3 Traction Locomotiver
9.10.4 Power Distribution
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Converters
10.6.2 Switches
10.6.3 High-Frequency Transformers
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Alternative Power Generation
10.10.2 Electric Vehicle Charging Stations
10.10.3 Traction Locomotiver
10.10.4 Power Distribution
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Converters
11.6.2 Switches
11.6.3 High-Frequency Transformers
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Alternative Power Generation
11.10.2 Electric Vehicle Charging Stations
11.10.3 Traction Locomotiver
11.10.4 Power Distribution
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Converters
12.6.2 Switches
12.6.3 High-Frequency Transformers
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Alternative Power Generation
12.10.2 Electric Vehicle Charging Stations
12.10.3 Traction Locomotiver
12.10.4 Power Distribution
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Converters
13.6.2 Switches
13.6.3 High-Frequency Transformers
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Alternative Power Generation
13.10.2 Electric Vehicle Charging Stations
13.10.3 Traction Locomotiver
13.10.4 Power Distribution
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Power Solid State Transformer Market: Competitive Dashboard
14.2 Global Power Solid State Transformer Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB Ltd. (Switzerland)
14.3.2 General Electric Co. (U.S.)
14.3.3 Alstom SA (France)
14.3.4 Mitsubishi Electric Corporation (Japan)
14.3.5 Siemens AG (Germany)
14.3.6 Schneider Electric SE (France)
14.3.7 Cooper Power Systems (Brazil)
14.3.8 ABB Ltd. (Switzerland)
