Solid State Transformer Market: High industrial demand for electrical transformers during 2016-2021

The solid state transformer is a device that can deliver the bi-directional power flow and reactive power compensation with minimal downtime as possible in industries. There is high demand and use of these transformers due to the constant need of power for operations of any industry. There is high scope for the Solid State Transformer Market in various regions across the globe during 2016-2021.
Scope and Regional Forecast of the Solid State Transformer Market:
According to the IndustryARC research analysis studies on the Solid State Transformer Market, companies are investing for research and development for developing more efficient transformers for industrial applications through 2021.
North America and Europe are the major investors for the development of the Solid State Transformer Market with many companies increasing production for industrial use as per IndustryARC analytics during 2016-2021.
Asia Pacific is expected to have the fast growth in the Solid State Transformer Market owing to the increasing production and rise in industrial activities in China and India during 2016-2021.
The Solid State Transformer Market is a fast developing market with high utilization of electrical transformers in different end user industries in various regions across the globe. This market is anticipated to witness high growth owing to the increasing production of SST transformer, high frequency transformer and others, increasing investment for R&D of solid state transformer design and power transformer testing equipment and high utilization and sales of solid state rectifier, solid state power controller, power supply amplifier and solid state converter for different end user industries use for transformer power supply in various regions across the globe during 2016-2021.
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Segmentation and Key Players of the Solid State Transformer Market:
The Solid State Transformer Market is segmented into various categories in the IndustryARC marketing research report by component, by product, by application and by geography as follows:
By component: Converters, Switches and High-frequency Transformers
By product: Distribution Solid State Transformer, Traction Solid State Transformer and Power Solid State Transformer
By application: Traction locomotive, Power Grid, EV Charging Stations and Power Generation
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Solid State Transformer Market according to the IndustryARC research report are as follows:
• ABB Ltd.
• Alstom SA
• Amantys Limited
• Cooper Power Systems
• General Electric Co.
There is high growth in production and use of SST transformer units with increasing industrial activities in various regions across the globe during 2016-2021.
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