(EMAILWIRE.COM, April 26, 2017 ) A solid state transformer is a modern device that offers bi-directional power flow, reactive power compensation, harmonics reduction, and many others. Unlike a traditional transformer, it provides an option for DC output of required magnitude as well. In a typical solid state transformer, the incoming voltage is converted into high-frequency AC with the uses of power electronic-based converter and then feed to the primary side of the high-frequency transformer.

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The opposite procedure is performed on the secondary side of high-frequency transformers to get the desired AC or DC or both kinds of output for the supply to load. The power transfer at a high frequency leads to reduction in weight as well as reduction in the size of a transformer.

The market for solid state transformers is expected to be commercialized by 2017 and to be valued at $105.3 Million. Furthermore, the market is expected to grow at a CAGR of 24.72% from 2017 to 2020, to reach $204.3 Million by 2020. The market is expected to be driven by the adoption of solid state transformers and demand for alternative power generation, traction locomotives, and power distribution in addition to the electrical vehicle charging stations till 2020. The European market is expected to account for the largest market share, followed by Asia-Pacific and the North America in 2017. The growth of the European market is expected to fuel by increasing installed capacity of renewable energy sources such as solar and wind energy. Europe is a prominent market for electric vehicles (EV) and the growth of electrical vehicle charging stations further offers a huge growth opportunity for the solid state transformer market in this region.

This report covers the market by design, function, application and geography. It also provides a detailed analysis of the current market situation and the market till 2020. The report also analyzes the supply-side and demand-side factors, market dynamics, and the value chain of the solid state transformer market by considering the key stakeholders from vendors to end users. This report profiles the major players which are in the market. It also comprises the competitive landscape of main players including the key growth strategies and market share analysis of the same. Some of the key players profiled in the report are ABB Ltd. (Switzerland), General Electric Co. (U.S.), Alstom SA (France), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Schneider Electric SE (France), and Cooper Power Systems (Brazil).

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Scope of the Report:

This research report categorizes the solid state transformer market based on products, components, applications, and geographies; it also covers the market size forecast of the market.

On the Basis of Products:

The solid state transformer market has been segmented on the basis of products into distribution solid state transformer, traction solid state transformer, and power solid state transformer.

On the Basis of Components:

Based on function, the market has been further segmented into four subsegments such as converters, switches, high-frequency transformers, and others.

On the Basis of Applications:

The market has been further split based on application into five subsegments such as alternative power generation, electric vehicle charging stations, traction locomotives, power distribution, and others.

On the Basis of Geography:

The market has been split into four regions based on geography: North America, Europe, Asia-Pacific, and RoW. The solid state transformer market in North America includes the U.S., Canada, and Mexico, while Europe is divided into the U.K., Germany, France, and rest of Europe. The Asia-Pacific market includes China, Japan, and rest of Asia-Pacific, while RoW has been divided into the Middle East & Africa and South America.

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