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Solid State (Smart) Transformer Market by Product Type (Distribution Solid-State Transformer, Power Solid-State Transformer, and Traction Solid-State Transformer) and Application (Renewable Power Generation, Electric Vehicle Charging Stations, Power Distribution, Traction Locomotives, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028

A00406
Pages: 185
May 2021 | 15968 Views
   
Author(s) : Pratik Mandon, Ashwin Ponnappan , Eswara Prasad
Tables: 97
Charts: 44
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Solid State Transformer (SST) Market Outlook - 2028

Global solid state transformer market was valued at $141.5 million in 2020, and is projected to reach $468.0 million by 2028, growing at a CAGR of 16.9% from 2021 to 2028. Solid-state transformer (SST), also known as a smart transformer, is an advanced type of transformer that incorporates various semiconductor components, control circuits, and another high-frequency transformer. Compared to traditional transformers, it enhances the quality of the power by controlling voltage fluctuations. It reduces grid losses and supply reliability and protects the load from power supply disruptions. It allows voltage conversion from Alternate Current (AC) to Direct Current (DC), DC to AC, and also DC to DC on different voltage levels. Currently, it caters to a wide variety of applications, ranging from renewable power generation, electric vehicle charging facilities, and power grids. 

The ongoing COVID-19 pandemic weakened the global economy and reduced investments in the energy and power sector, thus impacting the growth of the solid state transformer market during the forecast period..

The global solid state transformer market is presently driven by various factors, namely the growing renewable electricity production, electric mobility, and heavy investments in smart grids and energy systems.

Infographics-Global Solid State Transformer Market, 2021-2028

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Furthermore, reduction in dependency on conventional electricity based on coal and crude oil is expected to drive the growth of the renewable energy industry in the future. In fact, countries such as Germany, China, the U.S., and Canada have already moved to wind power and solar power. Solid-state transformers connect these various energy sources to power girds and improve the efficiency of power transmission systems. In the electric mobility segment, electric vehicles are being produced at a phenomenal rate and will require more charging infrastructure in the future. EV charging is based on direct current (DC) sources and has increased the demand for active power control; thus, driving the demand for smart transformers. Moreover, solid-state transformers are used to effectively manage smart grids. Hence, growing investment and participation in the smart grids market will benefit the global solid state transformer market in the long run. However, as solid-state transformers are not much commercialized, it presently has a high cost and low consumer awareness. Therefore, the adoption of SSTs is low in developing and underdeveloped economies. These factors are expected to hamper the global solid state transformer market growth during the forecast period.

Developments in the design of SSTs that include various configurations and components is anticipated to help operating players in launching new products. Such new products will help in increasing the market share of solid-state transformers in the mainstream transformer market. The solid-state technology will benefit from research and development efforts by various research institutes and industry proponents like power company for developing new designs of solid-state transformers. One of the recent developments in the solid-state technology was the technological partnership between major transformer maker Hitachi ABB and Nanyang Technological University in Singapore in February 2021. With this partnership, both Hitachi and NTU aims to launch commercial transformers based on solid-state technology. Moreover, the application potential of SSTs is wide, ranging from locomotives, light rail, EV fast chargers, PV inverters, and battery energy storage systems. Some of these are emerging domains and are estimated to offer lucrative opportunities for market growth during the forecast period.

The global solid state transformer market is segmented on the basis of product type, application, and region. Based on product type, the market is divided into distribution solid-state transformer, power solid-state transformer, and traction solid-state transformer. Applications include renewable power generation, electric vehicle charging stations, power distribution, traction locomotives, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Major players operating in the solid state transformer industry include Alstom SA, Eaton Corporation, General Electric Company, Hitachi ABB, Power Systems & Controls Inc., Red Box Aviation, Schneider Electric, Siemens AG, Varentec Inc., and Vollspark.

Solid-state transformer market, by region

Europe accounted for the largest solid state transformer market share in 2020. This is attributed to the massive adoption of renewable energy such as wind and solar power plants in major European countries. Asia-Pacific is anticipated to grow at the fastest CAGR of 18.6%. This fast growth rate can be attributed to the investments done by Asia-Pacific countries such as China, India, Japan, and Australia in the power industry.

Solid State (Smart) Transformer Market
By Region

2028
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit highest CAGR of 18.6% during 2021-2028

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Solid-state transformer market, by product type

Power solid state transformers segment accounted for the largest market share in 2020, owing to factors such as rapid adoption rate, economical costs, and rise in product awareness in the power industry. Traction solid-state transformers are projected to grow at the fastest CAGR of 17.7%, owing to its potential use in locomotives and electric vehicles.

Solid State (Smart) Transformer Market
By Product Type

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Traction solid state transformer segment is projected as the most lucrative segment.

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Solid-state transformer market, by application

The renewable power generation segment accounted for the largest share in 2020. Renewable power generation from wind and solar panels require smart transformers for better power management. However, the electric vehicles charging segment will grow at the fastest CAGR of 21.5% during the solid state transformer market forecast period. Rise in EV sales coupled by public and private investments in charging infrastructure is conducive for the adoption of smart transformers and expand the solid state transformer market size. 

Solid State (Smart) Transformer Market
By Application

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Electric Vehicle Charging Station segment is projected as the most lucrative segment.

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Key Benefits For Stakeholders

  • The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2028. 
  • Solid state transformer market analysis is done by studying the various drivers, restraints, and opportunities
  • Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
  • The key market players are profiled to gain an understanding of the strategies adopted by them.
  • This report provides a detailed analysis of the current solid state transformer market trends and future estimations from 2020 to 2028, which helps identify the prevailing solid state transformer market opportunities.

Impact Of Covid-19 On The Global Solid-state Transformer Market

  • Most of the industries have become non-operational during the pandemic. The lockdown imposed in various countries hit the operations of various power distribution companies; thus, impacting their financial health. This led to a decline in the demand for transformers.
  • Renewable energy generation is the largest application for solid-state transformer, which is also affected to a great extent during the pandemic. The pandemic negatively affected the demand for renewable energy generation. Complete or partial lockdown situation globally has led to supply chain disruption, leading to delays in project construction, having a direct impact on the commissioning of renewable electricity projects
  • In the global solar industry, more than 40% of the supply chain is reliant on supply from China and other Southeast Asian countries. China is the known source of this pandemic and the country is the most affected one in terms of material supply and material transport due to COVID-19. The above factors have impacted the growth of the global solid state transformer market.

Key market segments

Product Type

  • Distribution Solid-State Transformer
  • Power Solid-State Transformer
  • Traction Solid-State Transformer
  • Application
  • Renewable Power Generation
  • Electric Vehicle Charging Stations
  • Power Distribution
  • Traction Locomotives
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

CHAPTER 1:INTRODUCTION

1.1.REPORT DESCRIPTION
1.2.KEY MARKET SEGMENTS
1.3.KEY BENEFITS
1.4.RESEARCH METHODOLOGY

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.CXO PERSPECTIVE

CHAPTER 3:MARKET LANDSCAPE

3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FINDINGS

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.PORTER'S FIVE FORCES ANALYSIS

3.3.1.Bargaining power of suppliers
3.3.2.Threat of new entrants
3.3.3.Threat of substitutes
3.3.4.Competitive rivalry
3.3.5.Bargaining power among buyers

3.4.MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2020
3.5.MARKET DYNAMICS

3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities

3.6.Pricing Analysis
3.7.Value Chain Analysis
3.8.Impact Of Key Regulation
3.9.Impact of COVID-19 on the global solid state transformer market

CHAPTER 4:SOLID STATE TRANSFORMER MARKET BY PRODUCT TYPE

4.1.OVERVIEW
4.2.DISTRIBUTION SOLID STATE TRANSFORMER

4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by region 
4.2.3.Market share analysis, by country

4.3.POWER SOLID STATE TRANSFORMER

4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast, by region 
4.3.3.Market share analysis, by country

4.4.TRACTION SOLID STATE TRANSFORMER

4.4.1.Key market trends, growth factors and opportunities
4.4.2.Market size and forecast, by region 
4.4.3.Market share analysis, by country

CHAPTER 5:SOLID STATE TRANSFORMER MARKET BY APPLICATION

5.1.OVERVIEW
5.2. RENEWABLE POWER GENERATION

5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region 
5.2.3.Market share analysis, by country

5.3.ELECTRIC VEHICLE CHARGING STATIONS

5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region 
5.3.3.Market share analysis, by country

5.4.POWER DISTRIBUTION

5.4.1.Key market trends, growth factors and opportunities
5.4.2.Market size and forecast, by region 
5.4.3.Market share analysis, by country

5.5.TRACTION LOCOMOTIVES

5.5.1.Key market trends, growth factors and opportunities
5.5.2.Market size and forecast, by region 
5.5.3.Market share analysis, by country

5.6.OTHERS

5.6.1.Key market trends, growth factors and opportunities
5.6.2.Market size and forecast, by region 
5.6.3.Market share analysis, by country

CHAPTER 6:SOLID STATE TRANSFORMER MARKET BY REGION

6.1.OVERVIEW
6.2.NORTH AMERICA

6.2.1.Key market trends and opportunities
6.2.2.Market size and forecast, by product type
6.2.3.Market size and forecast, by application
6.2.4.Market size and forecast, by Country
6.2.5.U.S.

6.2.5.1.Market size and forecast, by product type
6.2.5.2.Market size and forecast, by application

6.2.6.Canada

6.2.6.1.Market size and forecast, by product type
6.2.6.2.Market size and forecast, by application

6.2.7.Mexico

6.2.7.1.Market size and forecast, by product type
6.2.7.2.Market size and forecast, by application

6.3.EUROPE

6.3.1.Key market trends and opportunities
6.3.2.Market size and forecast, by product type
6.3.3.Market size and forecast, by application
6.3.4.Market size and forecast, by Country
6.3.5.Germany

6.3.5.1.Market size and forecast, by product type
6.3.5.2.Market size and forecast, by application

6.3.6.France

6.3.6.1.Market size and forecast, by product type
6.3.6.2.Market size and forecast, by application

6.3.7.UK

6.3.7.1.Market size and forecast, by product type
6.3.7.2.Market size and forecast, by application

6.3.8.Italy

6.3.8.1.Market size and forecast, by product type
6.3.8.2.Market size and forecast, by application

6.3.9.Spain

6.3.9.1.Market size and forecast, by product type
6.3.9.2.Market size and forecast, by application

6.3.10.Rest of Europe

6.3.10.1.Market size and forecast, by product type
6.3.10.2.Market size and forecast, by application

6.4.ASIA-PACIFIC

6.4.1.Key market trends and opportunities
6.4.2.Market size and forecast, by product type
6.4.3.Market size and forecast, by application
6.4.4.Market size and forecast, by Country
6.4.5.China

6.4.5.1.Market size and forecast, by product type
6.4.5.2.Market size and forecast, by application

6.4.6.Japan

6.4.6.1.Market size and forecast, by product type
6.4.6.2.Market size and forecast, by application

6.4.7.India

6.4.7.1.Market size and forecast, by product type
6.4.7.2.Market size and forecast, by application

6.4.8.South Korea

6.4.8.1.Market size and forecast, by product type
6.4.8.2.Market size and forecast, by application

6.4.9.Australia

6.4.9.1.Market size and forecast, by product type
6.4.9.2.Market size and forecast, by application

6.4.10.Rest of Asia-Pacific

6.4.10.1.Market size and forecast, by product type
6.4.10.2.Market size and forecast, by application

6.5.LAMEA

6.5.1.Key market trends and opportunities
6.5.2.Market size and forecast, by product type
6.5.3.Market size and forecast, by application
6.5.4.Market size and forecast, by Country
6.5.5.Brazil

6.5.5.1.Market size and forecast, by product type
6.5.5.2.Market size and forecast, by application

6.5.6.Saudi Arabia

6.5.6.1.Market size and forecast, by product type
6.5.6.2.Market size and forecast, by application

6.5.7.South Africa

6.5.7.1.Market size and forecast, by product type
6.5.7.2.Market size and forecast, by application

6.5.8.Rest of LAMEA

6.5.8.1.Market size and forecast, by product type
6.5.8.2.Market size and forecast, by application

CHAPTER 7:COMPANY PROFILES

7.1. ALSTOM SA

7.1.1.Company overview
7.1.2.Key Executives
7.1.3.Company snapshot
7.1.4.Operating business segments
7.1.5.Product portfolio
7.1.6.Business performance
7.1.7.Key strategic moves and developments

7.2.EATON CORPORATION

7.2.1.Company overview
7.2.2.Key Executives
7.2.3.Company snapshot
7.2.4.Operating business segments
7.2.5.Product portfolio
7.2.6.Business performance
7.2.7.Key strategic moves and developments

7.3.GENERAL ELECTRIC COMPANY

7.3.1.Company overview
7.3.2.Key Executives
7.3.3.Company snapshot
7.3.4.Operating business segments
7.3.5.Product portfolio
7.3.6.Business performance
7.3.7.Key strategic moves and developments

7.4.HITACHI ABB

7.4.1.Company overview
7.4.2.Key Executives
7.4.3.Company snapshot
7.4.4.Operating business segments
7.4.5.Product portfolio
7.4.6.Business performance
7.4.7.Key strategic moves and developments

7.5.POWER SYSTEMS AND CONTROLS, INC. 

7.5.1.Company overview
7.5.2.Key Executives
7.5.3.Company snapshot
7.5.5.Product portfolio
7.5.7.Key strategic moves and developments

7.6.RED BOX AVIATION

7.6.1.Company overview
7.6.2.Key Executives
7.6.3.Company snapshot
7.6.5.Product portfolio
7.6.7.Key strategic moves and developments

7.7.SCHNEIDER ELECTRIC

7.7.1.Company overview
7.7.2.Key Executives
7.7.3.Company snapshot
7.7.4.Operating business segments
7.7.5.Product portfolio
7.7.6.Business performance
7.7.7.Key strategic moves and developments

7.8.SIEMENS AG

7.8.1.Company overview
7.8.2.Key Executives
7.8.3.Company snapshot
7.8.4.Operating business segments
7.8.5.Product portfolio
7.8.6.Business performance
7.8.7.Key strategic moves and developments

7.9.VARENTEC INC.

7.9.1.Company overview
7.9.2.Key Executives
7.9.3.Company snapshot
7.9.4.Operating business segments
7.9.5.Product portfolio
7.9.6.Business performance
7.9.7.Key strategic moves and developments

7.10.VOLLSPARK

7.10.1.Company overview
7.10.2.Key Executives
7.10.3.Company snapshot
7.10.4.Operating business segments
7.10.5.Product portfolio
7.10.6.Business performance
7.10.7.Key strategic moves and developments

CHAPTER 8:COMPETITIVE LANDSCAPE

8.1.Introduction

8.1.1.Market player positioning, 2020

8.2.Product mapping of top 10 player
8.3.Competitive heatmap
8.4.Key developments

LIST OF TABLES

TABLE 1.GLOBAL SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE 2020-2028 ($MILLION)
TABLE 2.SOLID STATE TRANSFORMER MARKET FOR DISTRIBUTION SOLID STATE TRANSFORMER, BY REGION, 2020-2028 ($MILLION)
TABLE 3.SOLID STATE TRANSFORMER MARKET FOR POWER SOLID STATE TRANSFORMER, BY REGION,  2020-2028 ($MILLION)
TABLE 4.SOLID STATE TRANSFORMER MARKET FOR TRACTION SOLID STATE TRANSFORMER, BY REGION,  2020-2028 ($MILLION)
TABLE 5.GLOBAL SOLID STATE TRANSFORMER MARKET, BY APPLICATION 2020-2028 ($MILLION)
TABLE 6.SOLID STATE TRANSFORMER MARKET FOR RENEWABLE POWER GENERATION, BY REGION,  2020-2028 ($MILLION)
TABLE 7.SOLID STATE TRANSFORMER MARKET FOR ELECTRIC VEHICLE CHARGING STATIONS, BY REGION,  2020-2028 ($MILLION)
TABLE 8.SOLID STATE TRANSFORMER MARKET FOR POWER DISTRIBUTION, BY REGION,  2020-2028 ($MILLION)
TABLE 9.SOLID STATE TRANSFORMER MARKET FOR TRACTION LOCOMOTIVES, BY REGION,  2020-2028 ($MILLION)
TABLE 10.SOLID STATE TRANSFORMER MARKET FOR OTHERS, BY REGION,  2020-2028 ($MILLION)
TABLE 11.SOLID STATE TRANSFORMER MARKET FOR , BY REGION, , 2020-2028 ($MILLION)
TABLE 12.NORTH AMERICA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 13.NORTH AMERICA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 14.NORTH AMERICA SOLID STATE TRANSFORMER MARKET, BY COUNTRY, 2020–2028 ($MILLION)
TABLE 15.U.S. SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 16.U.S.SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 17.CANADA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 18.CANADA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 19.MEXICO SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 20.MEXICO SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 21.EUROPE SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 22.EUROPE SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 23.EUROPE SOLID STATE TRANSFORMER MARKET, BY COUNTRY, 2020–2028 ($MILLION)
TABLE 24.GERMANY SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 25.GERMANY SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 26.FRANCE SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 27.FRANCE SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 28.UK SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 29.UK SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 30.ITALY SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 31.ITALY SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 32.SPAIN SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 33.SPAIN SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 34.REST OF EUROPE SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 35.REST OF EUROPE SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 36.ASIA-PACIFIC SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 37.ASIA-PACIFIC SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 38.ASIA-PACIFIC SOLID STATE TRANSFORMER MARKET, BY COUNTRY, 2020–2028 ($MILLION)
TABLE 39.CHINA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 40.CHINA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 41.JAPAN SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 42.JAPAN SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 43.INDIA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 44.INDIA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 45.SOUTH KOREA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 46.SOUTH KOREA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 47.AUSTRALIA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 48.AUSTRALIA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 49.REST OF ASIA-PACIFIC SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 50.REST OF ASIA-PACIFIC SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 51.LAMEA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 52.LAMEA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 53.LAMEA SOLID STATE TRANSFORMER MARKET, BY COUNTRY, 2020–2028 ($MILLION)
TABLE 54.BRAZIL SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 55.BRAZIL SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 56.SAUDI ARABIA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 57.SAUDI ARABIA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 58.SOUTH AFRICA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 59.SOUTH AFRICA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 60.REST OF LAMEA SOLID STATE TRANSFORMER MARKET, BY PRODUCT TYPE, 2020–2028 (MILLION)
TABLE 61.REST OF LAMEA SOLID STATE TRANSFORMER MARKET, BY APPLICATION, 2020–2028 (MILLION)
TABLE 62.ALSTOM SA: COMPANY SNAPSHOT
TABLE 63.ALSTOM SA: OPERATING SEGMENTS
TABLE 64.ALSTOM SA: PRODUCT PORTFOLIO
TABLE 65.ALSTOM SA: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 66.EATON CORPORATION: COMPANY SNAPSHOT
TABLE 67.EATON CORPORATION: OPERATING SEGMENTS
TABLE 68.EATON CORPORATION: PRODUCT PORTFOLIO
TABLE 69.EATON CORPORATION: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 70.GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT
TABLE 71.GENERAL ELECTRIC COMPANY: OPERATING SEGMENTS
TABLE 72.GENERAL ELECTRIC COMPANY: PRODUCT PORTFOLIO
TABLE 73.GENERAL ELECTRIC COMPANY: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 74.HITACHI ABB: COMPANY SNAPSHOT
TABLE 75.HITACHI ABB: OPERATING SEGMENTS
TABLE 76.HITACHI ABB: PRODUCT PORTFOLIO
TABLE 77.HITACHI ABB: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 78.POWER SYSTEMS AND CONTROLS, INC. : COMPANY SNAPSHOT
TABLE 79.POWER SYSTEMS AND CONTROLS, INC. : OPERATING SEGMENTS
TABLE 80.POWER SYSTEMS AND CONTROLS, INC: PRODUCT PORTFOLIO
TABLE 81.RED BOX AVIATION: COMPANY SNAPSHOT
TABLE 82.RED BOX AVIATION: OPERATING SEGMENTS
TABLE 83.RED BOX AVIATION: PRODUCT PORTFOLIO
TABLE 84.SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
TABLE 85.SCHNEIDER ELECTRIC: OPERATING SEGMENTS
TABLE 86.SCHNEIDER ELECTRIC: PRODUCT PORTFOLIO
TABLE 87.SCHNEIDER ELECTRIC: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 88.SIEMENS AG: COMPANY SNAPSHOT
TABLE 89.SIEMENS AG: OPERATING SEGMENTS
TABLE 90.SIEMENS AG: PRODUCT PORTFOLIO
TABLE 91.SIEMENS AG: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 92.VARENTEC INC.: COMPANY SNAPSHOT
TABLE 93.VARENTEC INC.: OPERATING SEGMENTS
TABLE 94.VARENTEC INC: PRODUCT PORTFOLIO
TABLE 95.VOLLSPARK: COMPANY SNAPSHOT
TABLE 96.VOLLSPARK: OPERATING SEGMENTS
TABLE 97.VOLLSPARK: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 1.GLOBAL SOLID STATE TRANSFORMER MARKET SEGMENTATION
FIGURE 2.TOP INVESTMENT POCKET
FIGURE 3.TOP WINNING STRATEGIES (%)
FIGURE 4.DISTRIBUTION SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 5.POWER SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 6.TRACTION SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 7.SOLID STATE TRANSFORMER MARKET FOR RENEWABLE POWER GENERATION, 2020-2028 ($MILLION)
FIGURE 8.SOLID STATE TRANSFORMER MARKET FOR ELECTRIC VEHICLE CHARGING STATIONS, 2020-2028 ($MILLION)
FIGURE 9.SOLID STATE TRANSFORMER MARKET FOR POWER DISTRIBUTION, 2020-2028 ($MILLION)
FIGURE 10.SOLID STATE TRANSFORMER MARKET FOR TRACTION LOCOMOTIVES, 2020-2028 ($MILLION)
FIGURE 11.SOLID STATE TRANSFORMER MARKET FOR OTHERS, 2020-2028 ($MILLION)
FIGURE 12.GLOBAL SOLID STATE TRANSFORMER, BY REGION,  2020 (%)
FIGURE 13.U.S. SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 14.CANADA SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 15.MEXICO SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 16.GERMANY SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 17.FRANCE SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 18.UK SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 19.ITALY SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 20.SPAIN SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 21.REST OF EUROPE SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 22.CHINA SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 23.JAPAN SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 24.INDIA SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 25.SOUTH KOREA SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 26.AUSTRALIA SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 27.REST OF ASIA-PACIFIC SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 28.BRAZIL SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 29.SAUDI ARABIA SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 30.SOUTH AFRICA SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 31.REST OF LAMEA SOLID STATE TRANSFORMER MARKET, 2020-2028 ($MILLION)
FIGURE 32.MARKET PLAYER POSITIONING, 2020
FIGURE 33.PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 34.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 35.ALSTOM SA: REVENUE, 2018–2020 ($MILLION)
FIGURE 36.ALSTOM SA: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 37.EATON CORPORATION: REVENUE, 2018–2020 ($MILLION)
FIGURE 38.EATON CORPORATION: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 39.GE: REVENUE, 2018–2020 ($MILLION)
FIGURE 40.GE: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 41.HITACHI ABB: REVENUE, 2018–2020 ($MILLION)
FIGURE 42.HITACHI ABB: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 43.SCHNEIDER: REVENUE, 2018–2020 ($MILLION)
FIGURE 44.SCHNEIDER: REVENUE SHARE BY REGION, 2020 (%)

 
 

Significant increase in electricity requirements from various sectors is expected to increase the demand for solid-state transformers during the forecast period.  

Furthermore, growth in adoption of wind and solar energy in the mainstream electricity production and infrastructural improvements in the locomotive markets will prove to be conducive for market growth.

It has been witnessed that there is still huge scope for development in the solid-state technology in terms of its construction. Therefore, the key players operating in this market are well positioned to invest in the R&D of solid-state transformers. Products are developed in a customized manner to cater to a large end-user base.

The renewable power generation segment holds the largest solid-state transformer market share in 2020. Power generation from wind and solar panels require smart transformers for better power management. Europe, being a leading promoter of renewable energy is the largest contributor to the global solid-state transformer market in terms of revenue in 2020.

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A. Demand for effiecient power distribution in renewable energy plants and electric vehicle charging stations are the two main factors driving the global solid state market growth

A. Technological collaborations are the key strategy adopted by key market players

A. To get latest version of solid state transformer market report can be obtained on demand from the website.

A. Proactive research and development of solid state technology to make it more commercial is the key trend in the solid state transformer market.

A. Asia-Pacific is anticipated to grow at the fastest CAGR of 18.6%, thus provide attractive growth opportunities for market players.

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. Eaton, Hitachi, Schneider, and Vollspark are the key market players operating in the solid state transformer market

A. Increasing power consumption in various countries across the globe is the key driver of the solid state transformer market

A. The Electric vehicles charging segment will grow at the fastest CAGR of 21.5% during the forecast period. Rise in EV sales coupled by public and private investments in charging infrastructure is conducive for the adoption of smart transformers.

A. The pandemic has weakened global economy, thus hampering new investments in the power sector. This has negatively impacted the global solid state transformer market

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