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The global Solid State (Smart) Transformers market was valued at US$ 112.5 million in 2022 and is projected to reach US$ 241.1 million by 2029, at a CAGR of 11.5% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The USA market for Global Solid State (Smart) Transformers market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The China market for Global Solid State (Smart) Transformers market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The Europe market for Global Solid State (Smart) Transformers market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The solid-state transformer (SST) was conceived as a replacement for the conventional power transformer, with both lower volume and weight. The smart transformer (ST) is an SST that provides ancillary services to the distribution and transmission grids to optimize their performance. Hence, the focus shifts from hardware advantages to functionalities. One of the most desired functionalities is the dc connectivity to enable a hybrid distribution system. For this reason, the ST architecture shall be composed of at least two power stages. The standard design procedure for this kind of system is to design each power stage for the maximum load.
This report aims to provide a comprehensive presentation of the global market for Solid State (Smart) Transformers, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Solid State (Smart) Transformers. This report contains market size and forecasts of Solid State (Smart) Transformers in global, including the following market information:
The U.S. Market is Estimated at $ Million in 2022, While China is Forecast to Reach $ Million.
Type I Segment to Reach $ Million by 2029, with a % CAGR in next six years.
The global key manufacturers of Solid State (Smart) Transformers include ABB, General Electric, Alstom, Mitsubishi Electric, Siemens, Schneider Electric, Cooper Power Systems, Varentec and Amantys Limited, etc. in 2022, the global top five players have a share approximately % in terms of revenue.
We surveyed the Solid State (Smart) Transformers manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Solid State (Smart) Transformers Market, by Type, 2018-2023, 2024-2030 ($ Millions) & (K Units)
Global Solid State (Smart) Transformers Market Segment Percentages, by Type, 2022 (%)
Global Solid State (Smart) Transformers Market, by Application, 2018-2023, 2024-2030 ($ Millions) & (K Units)
Global Solid State (Smart) Transformers Market Segment Percentages, by Application, 2022 (%)
Global Solid State (Smart) Transformers Market, By Region and Country, 2018-2023, 2024-2030 ($ Millions) & (K Units)
Global Solid State (Smart) Transformers Market Segment Percentages, By Region and Country, 2022 (%)
Competitor Analysis
The report also provides analysis of leading market participants including:
Further, the report presents profiles of competitors in the market, key players include:
Outline of Major Chapters: