Request for Covid-19 Impact Assessment of this Report
COVID-19 impact on the global Solid State Transformer (SST) Market:
COVID-19 emergency has considerable impact on the global solid state transformer (SST) market. During this outbreak, except pharmaceutical and food industries, all other industries are in a lockdown and utilization of non-food and non-medical products has been experiencing decline in demand. These aspects are unfavorably affecting the demand for solid state transformer systems, which is predicted to limit the growth of the market during this pandemic time.
Market Dynamics:
Solid state transformer is also named as electronic power transformer and power electronic transformer. It is a modern electrical equipment that provides bi-directional electricity flow.
The global solid state transformer (SST) market is significantly driven by rising power consumption and consumer preference towards renewable energy sources for power generation. In addition, growing demand for electric vehicles for traction locomotive systems is expected to drive the demand for SST systems, which will propel the market growth in the forecast years. This growth is owing to SST being a major component in electric vehicles for the smooth movement of motors in trams, locomotive and high speed trains. Moreover, government favorable activities to support the development of electric charging vehicles infrastructure owing to increasing demand for electric vehicles is expected to drive the demand for SST systems. This growth is attributed to SST playing a significant role in galvanic salvation, voltage regulation, electricity flow control and voltage sag compensation. This factor is expected to produce lucrative growth prospects for the global SST market in the upcoming years. However, the global solid state transformer market is majorly restrained by high implementation and maintenance costs of the advanced SST systems.
The global solid state transformer (SST) market is segmented into product, application and end use.
Solid State Transformer (SST) Market, by Product:
The global SST market is classified on the basis of product into traction solid state, distribution solid state and power solid state. Traction solid state segment will witness to grow at a notable CAGR of 26.6% and is expected to produce a revenue size about $153.2 million by the end of 2027. Besides traction solid state product, the market for power solid state product segment held the highest global solid state transformer market share in the previous years, which was about 57.1% and is expected to rise at a CAGR of 25.7% in the analysis period.
Solid State Transformer (SST) Market, by Application:
Based on application, the global market is segmented into power grid, alternative power generation, electric vehicle charging stations and traction locomotives. Among these, electric vehicle charging stations segment is anticipated to experience a remarkable growth and is predicted to account for $71.9 million by 2027 and rising at a CAGR of 30.8% in the forecast period. The global market has been dominated by the alternative power generation application segment in 2019 and is anticipated to reach up to $683.5 million in 2027.
Solid State Transformer (SST) Market, Regional Analysis:
Based on geography, the global solid state transformer market was analyzed across the several regions including North America, Europe, Asia-Pacific and LAMEA. In these, Europe has dominated the global solid state transformer market size; it accounted over $64.9 million by 2019 and is predicted to continue its command over the global marketplace throughout the estimated time. Along with Europe, the market for Asia-Pacific accounted for subsequent position in terms of revenue in the previous years and will witness to rise at a healthy CAGR of 25.5% in the analysis period.
Major participants in the global Solid State Transformer (SST) Market:
MASCHINENFABRIK REINHAUSEN GMBH, Schneider Electric, Mitsubishi Electric Corporation, ABB, Siemens, Eaton, GRIDBRIDGE, Varentec, Inc. and General Electric are some of the major participants in the global solid state transformer (SST) industry. These leading manufacturers are emphasizing their activities on product advancements, acquisitions, and joint ventures to gain competitive edge in the global market.
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.4.1. Assumptions
1.4.2. Forecast parameters
1.5. Data sources
1.5.1. Primary
1.5.2. Secondary
2. Executive Summary
2.1. 360° summary
2.2. Product trends
2.3. Application trends
3. Market Overview
3.1. Market segmentation & definitions
3.2. Key takeaways
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Pricing overview
3.8.1. By product
3.8.2. By application
3.8.3. By region
3.9. Market value chain analysis
3.9.1. Stress point analysis
3.9.2. Raw material analysis
3.9.3. Manufacturing process
3.9.4. Distribution channel analysis
3.9.5. Operating vendors
3.9.5.1. Raw material suppliers
3.9.5.2. Product manufacturers
3.9.5.3. Product distributors
3.10. Strategic overview
4. Solid State Transformer (SST) Market, by Product
4.1. Distribution Solid State
4.1.1. Market size and forecast, by region, 2019-2027
4.1.2. Comparative market share analysis, 2019 & 2027
4.2. Power Solid State
4.2.1. Market size and forecast, by region, 2019-2027
4.2.2. Comparative market share analysis, 2019 & 2027
4.3. Traction Solid State
4.3.1. Market size and forecast, by region, 2019-2027
4.3.2. Comparative market share analysis, 2019 & 2027
5. Solid State Transformer (SST) Market, by Application
5.1. Electric Vehicle Charging Stations
5.1.1. Market size and forecast, by region, 2019-2027
5.1.2. Comparative market share analysis, 2019 & 2027
5.2. Power Grid
5.2.1. Market size and forecast, by region, 2019-2027
5.2.2. Comparative market share analysis, 2019 & 2027
5.3. Traction Locomotives
5.3.1. Market size and forecast, by region, 2019-2027
5.3.2. Comparative market share analysis, 2019 & 2027
5.4. Alternative Power Generation
5.4.1. Market size and forecast, by region, 2019-2027
5.4.2. Comparative market share analysis, 2019 & 2027
6. Solid State Transformer (SST) Market, by Region
6.1. North America
6.1.1. Market size and forecast, by product, 2019-2027
6.1.2. Market size and forecast, by application, 2019-2027
6.1.3. Market size and forecast, by country, 2019-2027
6.1.4. Comparative market share analysis, 2019 & 2027
6.1.5. U.S.
6.1.5.1. Market size and forecast, by product, 2019-2027
6.1.5.2. Market size and forecast, by application, 2019-2027
6.1.5.3. Comparative market share analysis, 2019 & 2027
6.1.6. Canada
6.1.6.1. Market size and forecast, by product, 2019-2027
6.1.6.2. Market size and forecast, by application, 2019-2027
6.1.6.3. Comparative market share analysis, 2019 & 2027
6.1.7. Mexico
6.1.7.1. Market size and forecast, by product, 2019-2027
6.1.7.2. Market size and forecast, by application, 2019-2027
6.1.7.3. Comparative market share analysis, 2019 & 2027
6.2. Europe
6.2.1. Market size and forecast, by product, 2019-2027
6.2.2. Market size and forecast, by application, 2019-2027
6.2.3. Market size and forecast, by country, 2019-2027
6.2.4. Comparative market share analysis, 2019 & 2027
6.2.5. Germany
6.2.5.1. Market size and forecast, by product, 2019-2027
6.2.5.2. Market size and forecast, by application, 2019-2027
6.2.5.3. Comparative market share analysis, 2019 & 2027
6.2.6. UK
6.2.6.1. Market size and forecast, by product, 2019-2027
6.2.6.2. Market size and forecast, by application, 2019-2027
6.2.6.3. Comparative market share analysis, 2019 & 2027
6.2.7. France
6.2.7.1. Market size and forecast, by product, 2019-2027
6.2.7.2. Market size and forecast, by application, 2019-2027
6.2.7.3. Comparative market share analysis, 2019 & 2027
6.2.8. Spain
6.2.8.1. Market size and forecast, by product, 2019-2027
6.2.8.2. Market size and forecast, by application, 2019-2027
6.2.8.3. Comparative market share analysis, 2019 & 2027
6.2.9. Italy
6.2.9.1. Market size and forecast, by product, 2019-2027
6.2.9.2. Market size and forecast, by application, 2019-2027
6.2.9.3. Comparative market share analysis, 2019 & 2027
6.2.10. Rest of Europe
6.2.10.1. Market size and forecast, by product, 2019-2027
6.2.10.2. Market size and forecast, by application, 2019-2027
6.2.10.3. Comparative market share analysis, 2019 & 2027
6.3. Asia Pacific
6.3.1. Market size and forecast, by product, 2019-2027
6.3.2. Market size and forecast, by application, 2019-2027
6.3.3. Market size and forecast, by country, 2019-2027
6.3.4. Comparative market share analysis, 2019 & 2027
6.3.5. China
6.3.5.1. Market size and forecast, by product, 2019-2027
6.3.5.2. Market size and forecast, by application, 2019-2027
6.3.5.3. Comparative market share analysis, 2019 & 2027
6.3.6. India
6.3.6.1. Market size and forecast, by product, 2019-2027
6.3.6.2. Market size and forecast, by application, 2019-2027
6.3.6.3. Comparative market share analysis, 2019 & 2027
6.3.7. Japan
6.3.7.1. Market size and forecast, by product, 2019-2027
6.3.7.2. Market size and forecast, by application, 2019-2027
6.3.7.3. Comparative market share analysis, 2019 & 2027
6.3.8. Australia
6.3.8.1. Market size and forecast, by product, 2019-2027
6.3.8.2. Market size and forecast, by application, 2019-2027
6.3.8.3. Comparative market share analysis, 2019 & 2027
6.3.9. Rest of Asia Pacific
6.3.9.1. Market size and forecast, by product, 2019-2027
6.3.9.2. Market size and forecast, by application, 2019-2027
6.3.9.3. Comparative market share analysis, 2019 & 2027
6.4. LAMEA
6.4.1. Market size and forecast, by product, 2019-2027
6.4.2. Market size and forecast, by application, 2019-2027
6.4.3. Market size and forecast, by country, 2019-2027
6.4.4. Comparative market share analysis, 2019 & 2027
6.4.5. Latin America
6.4.5.1. Market size and forecast, by product, 2019-2027
6.4.5.2. Market size and forecast, by application, 2019-2027
6.4.5.3. Comparative market share analysis, 2019 & 2027
6.4.6. Middle East
6.4.6.1. Market size and forecast, by product, 2019-2027
6.4.6.2. Market size and forecast, by application, 2019-2027
6.4.6.3. Comparative market share analysis, 2019 & 2027
6.4.7. Africa
6.4.7.1. Market size and forecast, by product, 2019-2027
6.4.7.2. Market size and forecast, by application, 2019-2027
6.4.7.3. Comparative market share analysis, 2019 & 2027
7. Company Profiles
7.1. Schneider Electric
7.1.1. Business overview
7.1.2. Financial performance
7.1.3. Product portfolio
7.1.4. Recent strategic moves & developments
7.1.5. SWOT analysis
7.2. Siemens
7.2.1. Business overview
7.2.2. Financial performance
7.2.3. Product portfolio
7.2.4. Recent strategic moves & developments
7.2.5. SWOT analysis
7.3. Mitsubishi Electric Corporation
7.3.1. Business overview
7.3.2. Financial performance
7.3.3. Product portfolio
7.3.4. Recent strategic moves & developments
7.3.5. SWOT analysis
7.4. GRIDBRIDGE
7.4.1. Business overview
7.4.2. Financial performance
7.4.3. Product portfolio
7.4.4. Recent strategic moves & developments
7.4.5. SWOT analysis
7.5. MASCHINENFABRIK REINHAUSEN GMBH
7.5.1. Business overview
7.5.2. Financial performance
7.5.3. Product portfolio
7.5.4. Recent strategic moves & developments
7.5.5. SWOT analysis
7.6. ABB
7.6.1. Business overview
7.6.2. Financial performance
7.6.3. Product portfolio
7.6.4. Recent strategic moves & developments
7.6.5. SWOT analysis
7.7. General Electric
7.7.1. Business overview
7.7.2. Financial performance
7.7.3. Product portfolio
7.7.4. Recent strategic moves & developments
7.7.5. SWOT analysis
7.8. Eaton
7.8.1. Business overview
7.8.2. Financial performance
7.8.3. Product portfolio
7.8.4. Recent strategic moves & developments
7.8.5. SWOT analysis
7.9. Varentec, Inc.
7.9.1. Business overview
7.9.2. Financial performance
7.9.3. Product portfolio
7.9.4. Recent strategic moves & developments
7.9.5. SWOT analysis
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