As per the latest study by Market Research Future Reports (MRFR), the global solid-state transformer market is estimated to value USD 392 million, thriving at a CAGR of 24% during the review period from 2017 to 2023. The rising emphasis on alternative energy production is the most significant factor driving the global solid-state transformer market 2020. There has been a substantial investment in the energy systems and smart grid system, which has propelled the market at a global level. Besides, the increasing demand for electric vehicles is estimated to play an essential role in expanding the global solid-state transformer market. There has been a growth in demand for solid-state transformer applications across several sectors. Moreover, the development and innovations in technology are propelling the growth of the market.
The research performed by MRFR tracks the aftermath of the COVID-19 pandemic. Furthermore, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed. We will provide COVID-19 impact analysis with the report.
The market players of the worldwide solid-state transformer market are-
Alstom SA (France), Siemens AG (Germany), Schneider Electric S.E. (France), ABB Ltd. (Switzerland), General Electric Co. (U.S.), Varentec, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Cooper Power Systems (U.S.), Amantys Limited (U.K), GridBridge (U.S.), and a few others.
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- Technology Investors
- Research/Consultancy Firms
- Government Bodies
- Consulting Service Providers
- Raw material and manufacturing equipment suppliers
- Electronic Design Automation & Design Tool Vendors
- Integrated Device Manufacturers (IDMs)
- Intelligent Power Module Component Manufacturers
- Intelligent Power Module Original Equipment Manufacturers (OEMs)
- ODM and OEM Technology Solution Providers
- Assembly, Testing, & Packaging Vendors
The worldwide solid-state transformer market can be segmented on the basis of application, component, product, and region.
Based on application, the worldwide solid-state transformer market can be segmented into the traction power grid, electric vehicle (E.V.) charging stations, locomotives, alternative power generation, and others.
Based on components, the worldwide solid-state transformer market can be segmented into switches, converters, high-frequency transformers, and others. The converters segment is further sub-divided into A.C. to D.C. converters, D.C. to A.C. converters, D.C. to D.C. converters, and A.C. to A.C. converters. The switches segment is further sub-divided into power diodes, insulated-gate bipolar transistors (IGBTS), SIC power thyristors, and SIC power MOSFETs.
Based on the product, the worldwide solid-state transformer market can be segmented on the basis of region. The worldwide solid-state transformer market can be segmented into the Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The regional study of Asia Pacific, North America, Europe, and the Rest of the World (RoW) has been performed. As per the analysis, the Europe market is likely to dominate the market. It is estimated to acquire the largest market share during the forecast period. Also, it has been estimated to grow at the fastest speed during the assessment period. The region is technically advanced and has adopted the solid-state transformer at a fast pace, which has resulted in Europe’s domination. Moreover, Europe has the presence of several established players, which provides an upper hand to the region. The second position is attained by North America. It is a technically-equipped nation that allows the region to expand considerably. Among all nations, the U.S. plays the most significant role in expanding the market. The other countries which make a significant contribution are Mexico and Canada. The Asia-Pacific region is the third most lucrative market. China, Japan, and India make the most significant contribution to expanding the market. In RoW, the market slow but steady. Middle East & Africa is expanding at a slow rate due to a lack of education, technological development, lack of awareness, and political instability.
However, the outbreak of pandemic coronavirus has affected several regional markets. The constant lockdown observed in several regions has changed the market dynamics.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Global Solid State Transformer Market
5 Industry Overview Of Global Solid State Transformer Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.2 Growth Trends
6.3 Impact Analysis
LIST OF TABLES
Table 1 Global Solid State Transformer Market: By Region, 2017-2023
Table 2 North America Solid State Transformer Market: By Country, 2017-2023
Table 3 Europe Solid State Transformer Market: By Country, 2017-2023
Table 4 Asia Pacific Solid State Transformer Market: By Country, 2017-2023
Table 5 The Middle East & Africa Solid State Transformer Market: By Country, 2017-2023
Table 6 Latin America Solid State Transformer Market: By Country, 2017-2023
Table 7 Global Solid State Transformer By Component Market: By Regions, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Solid State Transformer Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Solid State Transformer Market
FIGURE 4 Value Chain Of Global Solid State Transformer Market
FIGURE 5 Share Of Global Solid State Transformer Market In 2017, By Country (In %)
FIGURE 6 Global Solid State Transformer Market, 2017-2023,
FIGURE 7 Sub Segments Of Component
FIGURE 8 Global Solid State Transformer Market Size By Component, 2017
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