The global solid state transformer market size reached US$ 214.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 638.7 Million by 2032, exhibiting a growth rate (CAGR) of 12.6% during 2024-2032. More Info:- https://www.imarcgroup.com/solid-state-transformer-market

1. Global Solid State
Transformer Market
Research and Forecast
Report 2024-2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved

2. About IMARC Group
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strategy and market research worldwide. We partner with clients in all regions and industry
verticals to identify their highest-value opportunities, address their most critical challenges, and
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developments for business leaders in pharmaceutical, industrial, and high technology
organizations. Market forecasts and industry analysis for biotechnology, advanced materials,
chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods
are at the top of the company’s expertise.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and
markets with close cooperation at all levels of the client organization. This ensures that our clients
achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting
results.

3. Report Highlight
and Description
According to the latest report by IMARC Group, titled "Solid State
Transformer Market: Global Industry Trends, Share, Size, Growth,
Opportunity and Forecast 2024-2032," the global solid state transformer
market size reached US$ 214.8 Million in 2023.
A solid state transformer, or SST, refers to a single-input dual-output power
converter that facilitates voltage conversion from alternate current (AC) to
direct current (DC), DC to DC, and DC to AC on different voltage levels. It
offers high controllability and enables flexible connectivity between existing
medium-voltage power distribution networks, low-voltage AC residential
systems, and envisioned DC residential systems.
It also compensates the voltage sags and harmonic distortion, interconnects
asynchronous networks, and interfaces DC and AC ports. In addition, it can
isolate disturbances from the source and load or vice versa while eliminating
the use of tap changers or mechanical actuators. As a result, SST finds
extensive applications in power grids, traction or locomotives, renewable power
generation, and electric ships.
Request for a PDF sample of this report: https://www.imarcgroup.com/solid-
state-transformer-market/requestsample

4. Report Description
Global Solid State Transformer Market Trends:
The expanding energy sector, coupled with heavy investments in smart grid infrastructure, represents the primary
factor driving the market growth. Moreover, SST is gaining immense traction as a superior alternative to
conventional transformers in smart grids as it offers voltage regulation, power quality improvement, current
limiting, reactive power compensation, and power factor correction. Besides this, the rapid modernization of smart
grids and the widespread incorporation of electronic intelligence capabilities for power control and operations
monitoring have augmented the demand for smart grid technologies, such as SSTs. Additionally, there has been a
rise in the use of SSTs in electric vehicle (EV) charging stations. In line with this, the elevating EV sales across
the globe due to the growing environmental concerns among individuals and the implementation of favorable
government initiatives promoting the use of EVs have accelerated product adoption rates. Furthermore, the
increasing preferences for renewable energy sources, such as wind and solar energy, for power generation due to
escalating electricity demand and the surging need to reduce carbon footprints has fueled the market growth.
Other factors, including the rising public and private investments in distribution and power transmission
infrastructure, ongoing research and development (R&D) activities by key players, and technological
advancements, are also creating a positive market outlook.
Looking forward, IMARC Group expects the market value to reach US$ 638.7 Million by 2032, growing at a
CAGR of 12.6% during 2024-2032.
View Report TOC, Figures and Tables: https://www.imarcgroup.com/solid-state-transformer-market

5. Report
Segmentation
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

6. Report
Segmentation
• Electric Vehicle Charging Stations
• Power Distribution
• Traction Locomotives
• Others
Breakup by End User:
• Energy
• Transportation
• Others
Breakup by Region:
• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

7. Competitive
Landscape with
Key Players
• 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
• Vollspark.

8. Key Questions
Answered in
the Report
How big is the global solid state transformer market?
What is the expected growth rate of the global solid state
transformer market during 2024-2032?
What are the key factors driving the global solid state
transformer market?
What has been the impact of COVID-19 on the global solid
state transformer market?
What is the breakup of the global solid state transformer
market based on the product?
What is the breakup of the global solid state transformer
market based on the component?

9. Key Questions
Answered in
the Report
What is the breakup of the global solid state transformer
market based on the voltage level?
What is the breakup of the global solid state transformer
market based on the end user?
What are the key regions in the global solid state transformer
market?
Who are the key players/companies in the global solid state
transformer market?

10. Table of
Contents
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solid State Transformer Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Distribution Solid State Transformer
6.1.1 Market Trends
6.1.2 Mark et Forecast
6.2 Power Solid State Transformer
6.2.1 Mark et Trends
6.2.2 Mark et Forecast
6.3 Traction Solid State Transformer
6.3.1 Mark et Trends
6.3.2 Mark et Forecast
7 Market Breakup by Component

11. Table of
Contents
7.1 Converters
7.1.1 Mark et Trends
7.1.2 Mark et Forecast
7.2 Hig h-frequency Transformers
7.2.1 Mark et Trends
7.2.2 Market Forecast
7.3 Switches
7.3.1 Mark et Trends
7.3.2 Mark et Forecast
7.4 Others
7.4.1 Mark et Trends
7.4.2 Mark et Forecast
8 Market Breakup by Voltage Level
8.1 HV/MV
8.1.1 Market Trends
8.1.2 Mark et Forecast
8.2 MV/LV
8.2.1 Mark et Trends
8.2.2 Mark et Forecast
9 Market Breakup by Application
9.1 Alternative Power Generation
9.1.1 Mark et Trends
9.1.2 Mark et Forecast
9.2 Electric Vehicle Charg ing Stations
9.2.1 Mark et Trends
9.2.2 Mark et Forecast
9.3 Power Distribution
9.3.1 Mark et Trends
9.3.2 Mark et Forecast
For more information, visit :
https://www.imarcgroup.com/solid -state-transformer-
market/toc

12. Partial List of Clients

13. Partial List of Clients

14. Disclaimer
© 2024 IMARC All Rights Reserved
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name of International Market Analysis Research and Consulting (IMARC). No part of this
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mechanical, including photocopying, recording, taping or by information storage or retrieval,
or by any other form, without the express consent of International Market Analysis Research
and Consulting (IMARC).
Disclaimer: All contents and data of this publication, including forecasts, data analysis and
opinion have been based on information and sources believed to be accurate and reliable at
the time of publishing. International Market Analysis Research and Consulting makes no
representation of warranty of any kind as to the accuracy or completeness of any Information
provided. IMARC accepts no liability whatsoever for any loss or damage resulting from
opinion, errors or inaccuracies if any found this publication.
IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of
International Market Analysis Research and Consulting. All other trademarks used in this
publication are registered trademarks of their respective companies.

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