About Distribution Solid State Transformer
Solid state transformer is an AC-to-AC converter a type of electric power converter that replaces a conventional transformer used in AC electric power distribution. It is a collection of high-powered semiconductor components, conventional high-frequency transformers and control circuitry which is used to provide a high level of flexible control to power distribution networks. Solid state transformers are energy efficient that they can deliver much more power through similar wires at a faster rate.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Distribution Solid State Transformer market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB Ltd (Switzerland), Schneider Electric Se (France), Siemens AG (Germany), Mitsubishi Electric Corporation (Japan), General Electric Co. (United States), Alstom SA (France), Cooper Power Systems (United States), Varentec, Inc. (United States), Amantys Limited (United Kingdom) and Avago Technologies Limited (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Distribution Solid State Transformer market by Type (Distribution SST, Traction SST and Power SST), Application (Alternative Power Generation, Traction Locomotives, Power Distribution, Electric Vehicle Charging and Others) and Region.
On the basis of geography, the market of Distribution Solid State Transformer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component, the sub-segment i.e. Converters will boost the Distribution Solid State Transformer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand for Solid State Transformer with Improved Features
Market Growth Drivers:
Relatively Economical and Highly Reliable and Rising Demand for Solid State Transformer for Use in High-Speed Trains
Challenges:
Environment Concerns Regarding Mineral Oil and Lack of Awareness among Potential End-Users
Restraints:
Sensitive to Harmonics and Voltage Drop under Load
Opportunities:
Growing Demand for Electric Vehicles and Shifting Trends From Conventional Transformers to Advanced Solid-State Transformers
Market Leaders and their expansionary development strategies
June 2022: GE and Continuum Green Energy Pvt Ltd announced the financial close of GE Energy Financial Services’ acquisition of a 49 percent stake in Continuum’s 148.5 megawatts (MW) Morjar onshore wind project in Gujarat, India
On 23rd April 2018, ABB Ltd launched the world’s first digitally integrated power transformer. All power transformers leaving ABB factories will soon come enabled with digital capabilities, enabling remote monitoring and data analytics of its vital parameters in real-time. This will enhance reliability and enable higher utilization of grid assets and power networks.
Key Target Audience
Distribution Solid State Transformer Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.