The solid state transformer (SST) market is in its nascent stage but is expected to grow exponentially due to its numerous advantages. An SST consists of semi-conductor based components and diodes which are capable of handling high power and fast switching of current. The SSTs have in-built hardware which allows them to communicate with the operator and consumer. The reduced size provides for higher efficiency along with better automation and control.
The SST market is estimated to grow with a CAGR of 81% from 2012 to 2018. The solid state transformer market can be classified based on the product type, components, application and geography. Based on the product type, the transformer market is widely classified into conventional transformer market and the solid state transformer market. The SST market is further classified based on the various products included in the market such as converters, switches, high frequency transformers, and many others. SSTs are segregated based on applications into traction locomotives, power (distribution) grid, electrical vehicle charging station and others. Geographically, the SST market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
This market is expected to see a very high growth rate which can be attributed to the advantage SSTs have over conventional transformers. An SST is very compact, and the size to weight ratio compared to a conventional transformer is 1:100, which facilitates operations at a high frequency with higher efficiency. It is highly flexible and causes fewer power losses while increasing or decreasing the current. This saves power losses which is a major requirement for grids. This feature has been a key driving force for the SST market.
The only restraints for the SST market are its high cost and the lack of a testing facility for the prototypes. Electrical components cannot be used without being tested and currently there are not enough testing facilities.
SSTs have found their applications in a large number of devices. These devices provide for the growth of the market. Increased power transmission and distribution due to the infrastructural growth in many countries, coupled with the dwindling quantity of power generation warrants a transformer that can work under high load and minimize power losses. Also, the increased military and civil applications of SSTs give impetus to the growth of the market. Some of the big companies using SST technology in their products are Siemens AG, ABB, Alstom and some others. The key component manufacturers for SST market are STMicroelectronics, CREE Inc., Mitsubishi Electric Corporation, Infineon Technologies, and a few others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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