| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
The solid state transformer market is projected to grow at a CAGR of 8.55% from US$175.38 million in 2025 to US$264.38 million in 2030.
A Solid-State Transformer (SST) is a modern network device that combines multiple power electronic converter stages with high or low-frequency transformers. SSTs offer high reliability, robustness, efficient utilization, and lower costs compared to traditional transformers. They are widely used in facilitating smooth AC-to-DC transitions and voltage conversion.
Furthermore, the rising adoption of renewable energy sources such as solar energy and wind energy, as well as the widespread use of traction locomotives, are major factors driving growth in the global solid-state transformer market. Moreover, complementary to the widespread adoption of renewable power sources, the ageing transmission and distribution infrastructure is estimated to further augment the solid-state transformer market growth. However, high initial investment costs and inadequate SST testing infrastructure are likely to remain major challenges.
The growth in the solid-state transformer market can be largely attributed to the rising application of electric vehicles and increasing investments in renewable sources for energy generation.
The Medium Voltage/Low Voltage is expected to grow at a significant rate over the forecasted period. The growth in the Medium Voltage/Low Voltage segment can be attributed to the growing demand for electric vehicles.
The growing demand for electric vehicles is mainly supported by increasing government investments in the development of electric vehicle charging infrastructure. Thus, the growing demand for EVs is estimated to further complement the growth of the development of electric charging stations. Therefore, creating growth opportunities for the MV/LV solid-state transformer market. Moreover, the MV/LV segment is instrumental in the application of power production in photovoltaic systems, cogeneration systems, and other industrial applications.
The renewable power generation segment can be further segmented into wind, solar, and tidal power. The renewable power generation segment is projected to hold a significant share of the market over the forecasted period. The growth can be attributed to the adoption of transformers for power generation using non-conventional energy sources such as wind, solar, and tidal energy. Wind energy is a key contributor to the power generated through alternative sources of energy, whereas the APAC region is a leader in the domain.
The rising adoption of these alternative energy sources is estimated to drive further growth in the Solid-state transformers market. Moreover, the increasing adoption of smart transformers based on SST technologies in electric vehicles and renewable energy stations for electric flow controllability and DC connectivity is expected to drive demand over the forecasted period.
The global Solid State Transformer Market report provides a detailed exploration of the industry landscape, offering strategic and executive-level insights backed by data-driven analysis and forecasts. Regularly updated, this report empowers decision-makers with actionable intelligence on market trends, emerging opportunities, and competitive dynamics. It examines demand across various solid-state transformer technologies and their adoption across key geographies, while also covering the latest technological advancements, government policies, regulations, and macroeconomic factors shaping the market.
Solid State Transformer Market Segmentation by voltage level
The solid-state transformer market is segmented by voltage level into the following:
Solid State Transformer Market Segmentation by components
The solid-state transformer market is segmented by components into the following:
Solid State Transformer Market Segmentation by application
The solid-state transformer market is segmented by application into the following:
Solid State Transformer Market Segmentation by regions:
The study also analysed the solid state transformer market into the following regions, with country-level forecasts and analysis as below:
The global Solid state transformer market is marked by the presence of key players such as Siemens AG, Schneider Electric SE, General Electric Company, Mitsubishi Electric Corporation, Hitachi Energy Ltd., Eaton Corporation plc, Alstom SA, Toshiba Corporation, ERMCO, and Delta Electronics, Inc.
This report provides extensive coverage as explained in the points below:
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| Report Metric | Details |
| Solid State Transformer Market Size in 2025 | US$175.38 million |
| Solid State Transformer Market Size in 2030 | US$264.38 million |
| Growth Rate | CAGR of 8.55% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Million |
| Segmentation |
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| Geographical Segmentation | Americas, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in the Solid State Transformer Market |
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| Customization Scope | Free report customization with purchase |