Fior Markets revealed study on Global Solid State Transformers (SST) Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024 which offers a deep scenario on the current state focusing on the major drivers and restraints for the key players. This report guides through various segments market with size status and forecast 2024.
Solid state transformer, also known as power electronic transformer (EPT), is a kind of electric power electronic transformation technology and electromagnetic induction principle based on the combination of high-frequency power conversion technology to achieve power characteristics of electricity into other Electric power characteristics of the static electrical equipment. Compared with the conventional transformer, EPT has many advantages, its outstanding feature is that the original current can be achieved, the side voltage and power of flexible control. EPT applied to the power system will improve the power quality; improve system stability, to achieve a flexible transmission and power market power flow under real-time control.
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Solid State Transformers (SST) Market Scope:
The market of solid state transformers 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.
No wonder that solid state transformer is breakthrough technology, and it has huge imagination potential for the industry. But what should not be forgotten is that solid state transformer will not replace conventional transformer, without enough necessity. Proponents of solid-state transformers are not suggesting a rip-and-replace strategy for existing transformers. The strategy for the introduction of solid-state transformers will center around strategic benefits related to the ‘green circuit’ of the future, rolling out devices on feeders with high PV penetration and EV load.
The worldwide market for Solid State Transformers (SST) is expected to grow at a CAGR of roughly 21.3% over the next five years, will reach 200 million US$ in 2024, from 77 million US$ in 2019.
This report focuses on the Solid State Transformers (SST) in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
In addition, it delivers market trends, industry drivers, challenges, opportunities, key company profiles and strategies of players such as ABB, Siemens, General electric, .
The report showcases a detailed picture of the market, distinguishing the key business influencers. Further, the SWOT analysis tool is utilized so that you can try to be one step ahead of your competitors. Overall information along with expert opinion derived from trustworthy sources will assist in understanding the Solid State Transformers (SST) market present trends, applications, and challenges. Trends like globalization, technology progress promote fragmentation regulation & ecological concerns.
This report examines market statistics giving consideration to an average production and consumption of the product coupled with the demand from the market. The report is helpful for the governments, commercials, residential and industrial consumers, as well as manufacturers, other stakeholders to organize strategies. It also includes technology source and R&D status of the foremost manufacturers in the Solid State Transformers (SST) market.
Spotlights of Global Market Research Report:
- Exhibits the market by type and application with respect to sales market share and growth rate by type, application
- Displays manufacturing technology used in the global market, existing developments in that technology and trends causing these developments
- Offers market forecast, by regions, type, and application, with sales and revenue, from 2019 to 2024
- Studies industry chain analysis by upstream raw materials, downstream industry, and current market dynamics
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