Global solid state transformer market expected to reach approximately USD 495 million by 2024, at a CAGR of slightly above 24.8%between 2018 and 2024. The solid state transformer market is likely to be fuelled by the increase in the use of traction locomotives and electric vehicles and the rising priority of renewable energy source.
Solid State Transformer Market
The report covers a forecast and an analysis of the solid state transformer market on a global and regional level. The study provides historical data for 2015, 2016, and 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints of the solid state transformer market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the solid state transformer market on a global level.
This report offers a comprehensive view of the global solid state transformer market along with market trends, drivers, and restraints of the market. This report includes a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the solid state transformer market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the solid state transformer market by segmenting the market based on product, component, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. By product, this market includes power solid state transformer, traction solid state transformer, and distribution solid state transformer. By component, the solid state transformer market is classified into high-frequency transformers, converters, switches, and others. By application, the market includes electric vehicle charging, charging stations, traction locomotives, and alternative power generation. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Some significant players of the global solid state transformer market are Cooper Power Systems, Siemens AG, ABB Ltd., General Electric Co., Alstom SA, Schneider Electric, and Mitsubishi Electric Corporation, among others.
This report segments the global solid state transformer market into:
Solid State Transformer Market: Product Analysis
Solid State Transformer Market: Component Analysis
Solid State Transformer Market: Application Analysis
Solid State Transformer Market: Regional Analysis
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