Solid State Transformers Market to Reach $247.0 Million by 2020 | Key Players are ABB Ltd., Schneider Electric SE, General Electric, Siemens AG, Alstom SA, Mitsubishi Electric Corporation, Eaton Corporation

Solid state Transformers (SST) Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $247.0 million by 2020, registering a CAGR of 46.6%. Power solid state transformers segment is estimated to occupy more than half of the market revenue by 2020. The North American market is anticipated to exhibit the highest CAGR of 49.3% during the forecast period.

Get PDF Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/507?utm_source=OpenPR_ST

Solid state transformers (SST) are expected to be commercialized by 2018, and would grow at a CAGR of 46.6% during the forecast period. The major factors driving the market growth are shifting trends from conventional transformers to advanced solid state transformers or smart transformers and expanding traction locomotives in emerging economies. In addition, alternative power generation sources such as wind and solar energy would largely supplement the solid state transformers market growth. Solid state transformers technology is poised to grow at a remarkable pace, owing to its associated benefits over traditional transformers such as compact size, efficiency, AC to DC conversion, bidirectional power flow and others. Moreover, implementation of SSTs is expected bring about shift in the way utility power is distributed, thereby making SST an integral part of future smart grid. In addition, growing demand of electric vehicles is anticipated to provide opportunities for the companies operating in the smart transformers market. However, factors such as high cost associated with smart transformers, unawareness among potential end users and inadequate solid state transformers testing infrastructure, are projected to hinder the market growth.

Get More Information: https://www.alliedmarketresearch.com/purchase-enquiry/507?utm_source=OpenPR_ST

Key Findings of Solid State Transformers Market:
•Traction solid state transformers is projected to be the fastest growing segment with a CAGR of 47.2% during the forecast period.
•Power solid state transformers would continue to lead the market throughout the study period.
•Alternative power generation application segment is projected to be the highest revenue generating segment by 2018.
•Electric vehicle charging stations application segment is estimated to register the highest CAGR of 49.2%.
•Europe is expected to be the highest revenue generating segment in global solid state transformers market by 2020.

North America and Europe, are expected to account for more than half of the overall market revenue during the study period. This is attributed to increasing demand for solid state transformers due to the overstated use of renewable energy as a preferred source of electricity generation and distribution.

Key Players
•ABB Ltd.
•Schneider Electric SE
•General Electric Co
•Siemens AG
•Alstom SA
•Mitsubishi Electric Corporation
•Eaton Corporation plc (Cooper Power Systems)
•Gridbridge
•Varentec
•Maschinenfabrik Reinhausen (MR)

Report Customization 20% : https://www.alliedmarketresearch.com/request-for-customization/507?utm_source=OpenPR_ST

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.