Solid State Transformer Market is projected to witness a compound annual growth rate of 29.52% to reach to total market value of US$954.041 million by 2025, from US$202.064 million in 2019. With an increase in the use of distributed energy sources, solid state transformer is increasing finding application in smart grids for a better control and reliable operation due to its high load handling capacity and effective bidirectional flow. Increasing preference for renewable energy source, growing use of traction locomotives and electric vehicles, and burgeoning investments in smart grids and energy systems are some of the key factors driving the growth of the market.
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentation which has been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Solid State Transformer. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Solid State Transformer market has been segmented on the basis of product, application, and geography.
Electric vehicle charging stations
Alternative power generation
Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Alstom, ABB Ltd., General Electric, Siemens AG, Mitsubishi Electric, Cooper Power Systems, Gridbridge Inc., Schneider Electric SE and Varentec Inc. along with others.