Press release
Solid State Transformer Market Size 2023: Application, Industry Outlook and Report Forecast by 2028
IMARC Group, a leading market research company, has recently releases report titled "Solid State Transformer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global solid state transformer market growth, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.Industry Overview of Solid State Transformer Market
A solid-state transformer (SST) represents an innovative power electronic apparatus aimed at displacing conventional, unwieldy electromagnetic transformers prevalent in electrical power systems. This transformative device relies on semiconductor components, including insulated-gate bipolar transistors (IGBTs), high-power diodes, and other power electronics elements, to execute the conversion and regulation of electrical power. In contrast to its traditional counterparts, an SST offers heightened efficiency by minimizing losses related to power conversion. Moreover, it possesses the capability to dynamically and precisely regulate voltage levels, surpassing the capabilities of conventional transformers. This pivotal advancement holds a prominent role in shaping the future smart grid landscape and is hailed as a noteworthy stride in the realm of power distribution and management technology.
How Big Is the Solid State Transformer Market?
The global solid state transformer market size reached US$ 187.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 430.2 Million by 2028, exhibiting a growth rate (CAGR) of 14.3% during 2023-2028.
Request a free sample of report: https://www.imarcgroup.com/solid-state-transformer-market/requestsample
Global Industry Trends and Drivers:
Currently, the surging demand for SSTs is being driven by their capacity to facilitate bidirectional power flow, seamlessly integrating renewable energy sources like solar panels and wind turbines into the grid. This factor stands as a pivotal driver propelling market expansion. Concurrently, the heightened adoption of SSTs is attributed to their ability to enhance communication, control, and overall power distribution management, thereby contributing significantly to market growth. Furthermore, the escalating production of SSTs equipped with fault-tolerant features, ensuring continued functionality even in the event of component failures, augments the positive market trajectory. Moreover, the rising favorability of SSTs can be attributed to their adeptness in addressing issues like voltage irregularities, harmonics, and flickers. This capability is a notable boon driving market growth. Collectively, these dynamics underscore the multifaceted drivers influencing the expansion of the SST market.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Product:
Distribution Solid State Transformer
Power Solid State Transformer
Traction Solid State Transformer
Breakup by Component:
Converters
High-frequency Transformers
Switches
Others
Breakup by Voltage Level:
HV/MV
MV/LV
Breakup by Application:
Alternative Power Generation
Electric Vehicle Charging Stations
Power Distribution
Traction Locomotives
Others
Breakup by End User:
Energy
Transportation
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
ABB Ltd., Alstom SA, Eaton Corporation PLC, Electric Research and Manufacturing Cooperative Inc. (ERMCO) (Arkansas Electric Cooperatives Inc.), General Electric Company, Hitachi Ltd., Kirloskar Electric Company Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Synergy Transformers and Vollspark.
Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=5906&flag=C
Related Posts:
Animal Nutrition Chemicals Market Report 2023-2028: https://www.digitaljournal.com/pr/news/imarc/animal-nutrition-chemicals-market-size-is-projected-to-reach-us-15-3-billion-by-2028
Beer Packaging Market Report 2023-2028: https://www.digitaljournal.com/pr/news/imarc/beer-packaging-market-size-is-projected-to-reach-us-30-0-billion-by-2028
Smart Insulin Pens Market Report 2023-2028: https://www.digitaljournal.com/pr/news/imarc/smart-insulin-pens-market-size-is-projected-to-reach-us-193-2-million-by-2028
Online Lottery Market Report 2023-2028: https://www.digitaljournal.com/pr/news/imarc/online-lottery-market-size-is-projected-to-reach-us-15-1-billion-by-2028
Hdpe Pipes Market Report 2023-2028: https://www.digitaljournal.com/pr/news/imarc/hdpe-pipes-market-size-is-projected-to-reach-us-32-2-billion-by-2028
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Solid State Transformer Market Size 2023: Application, Industry Outlook and Report Forecast by 2028 here
News-ID: 3178971 • Views: …
More Releases from IMARC Group

GCC Pet Food Market Size is Expected to Reach USD 422.9 Million By 2033 | CAGR: …
GCC Pet Food Market Overview
Market Size in 2024: USD 266.2 Million
Market Size in 2033: USD 422.9 Million
Market Growth Rate 2025-2033: 5.3%
According to IMARC Group's latest research publication, "GCC Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC pet food market size was valued at USD 266.2 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 422.9 Million by 2033, exhibiting a…

GCC Residential Real Estate Market Size to Worth USD 147.77 Billion by 2033 | Wi …
GCC Residential Real Estate Market Overview
Market Size in 2024: USD 73.31 Billion
Market Size in 2033: USD 147.77 Billion
Market Growth Rate 2025-2033: 7.50%
According to IMARC Group's latest research publication, "GCC Residential Real Estate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC residential real estate market size was valued at USD 73.31 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 147.77 Billion by…

GCC Drones Market Size to Surpass USD 2,005.3 Million by 2033 | With a 13.3% CAG …
GCC Drones Market Overview
Market Size in 2024: USD 588.2 Million
Market Size in 2033: USD 2,005.3 Million
Market Growth Rate 2025-2033: 13.3%
According to IMARC Group's latest research publication, "GCC Drones Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The GCC drones market size was valued at USD 588.2 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 2,005.3 Million by 2033, exhibiting a growth rate of…

Medical Imaging Market to Surpass USD 70.8 Billion by 2033, at a CAGR of 5.03%
Market Overview:
The medical imaging market is experiencing rapid growth, driven by Growing Burden of Chronic and Age-Related Diseases, Expansion of Government-Funded Health Infrastructure and Technological Advancements in Imaging Modalities. According to IMARC Group's latest research publication, "Medical Imaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The global medical imaging market size reached USD 44.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach…
More Releases for Transformer
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is…
Signal Transformer Market Estimated to a Hike in Growth By Signal Type: Audio Tr …
Acumen Research and Consulting has announced the addition of the "Signal Transformer Market” report to their offering.
The Signal Transformer Market Report 2018 is an in depth study analyzing the current state of the Signal Transformer Market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Signal Transformer Market provides analysis of China market covering the industry trends, recent…
Southeast Asia Transformer market :Global Demand Analysis & Opportunity Outlook …
Abstract:
The Southeast Asia Transformer market size is $XX million USD in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million USD by the end of 2024 with a CAGR of XX% from 2019 to 2024.
Request For Free Sample@ https://www.kennethresearch.com/sample-request-10071643
This report is an essential reference for who looks for detailed information on Southeast Asia Transformer market. The report covers data on Southeast Asia…
Global Transformer Cores Market Forecast 2018-2025 Sanbian Sci-Tech, Wujiang Tra …
Market study on Global Transformer Cores 2018 Research Report presents a professional and complete analysis of Global Transformer Cores Market on the current market situation.
Report provides a general overview of the Transformer Cores industry 2018 including definitions, classifications, Transformer Cores market analysis, a wide range of applications and Transformer Cores industry chain structure. The 2018's report on Transformer Cores industry offers the global Transformer Cores development history, development trends…
Global Transformer Cores Market Forecast 2018-2025 Sanbian Sci-Tech, Wujiang Tra …
Market study on Global Transformer Cores 2018 Research Report presents a professional and complete analysis of Global Transformer Cores Market on the current market situation.
Report provides a general overview of the Transformer Cores industry 2018 including definitions, classifications, Transformer Cores market analysis, a wide range of applications and Transformer Cores industry chain structure. The 2018's report on Transformer Cores industry offers the global Transformer Cores development history, development trends…
Transformer Oil Market by Type (Mineral Oil-Based, Silicone Oil-Based, Bio-based …
Transformer oil market sales to reach $3.4 billion by 2020, with the mineral oil-based transformer oil segment to maintain its dominance until 2020. In 2014, the consumption of transformer oils was 1,437.8 million litres across the globe, which is expected to increase at 6.3% from 2015 to 2020.
Transformer oils are electrical insulating oils stable at high temperature, which serves two important functions in a transformer, viz., suppression of arcing and…