Report Code: CMI39903

Published Date: January 2024

Pages: 320+

Category: Energy And Power

Report Snapshot

CAGR: 15.7%
31.1M
2022
35.8M
2023
133M
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Europe
Largest Market: Europe

Major Players

  • Hitachi Ltd.
  • CREE Inc.
  • Varentec Inc.
  • Gridbridge Inc.
  • Maschinenfabrik Reinhausen GmbH
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the Europe Solid State Transformer Market is expected to record a CAGR of 15.7% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 35.8 Million. By 2032, the valuation is anticipated to reach USD 133.0 Million.

The Europe Solid State Transformer market refers to the industry focused on the production, deployment, and utilization of solid-state transformers in the European region. These transformers employ advanced semiconductor technologies, enhancing efficiency, controllability, and adaptability in power distribution systems.

Driven by factors such as renewable energy integration, grid modernization, and government initiatives, the market has witnessed growth. Key players, including ABB Ltd., Siemens AG, and General Electric Company, contribute to technological advancements, making solid-state transformers pivotal in achieving a sustainable and resilient energy infrastructure. Ongoing trends involve electric vehicle adoption, technological innovation, and post-pandemic recovery strategies.

Europe Solid State Transformer Market – Significant Growth Factors

The Europe Solid State Transformer Market presents significant growth opportunities due to several factors:

  • Grid Modernization Initiatives: Governments and utilities are actively investing in grid modernization projects. Solid state transformers play a crucial role in these initiatives by enhancing grid flexibility, improving power quality, and enabling smart grid functionalities.
  • Electric Vehicle Adoption: The growing adoption of electric vehicles is driving the demand for efficient and advanced power distribution solutions. Solid state transformers support the development of robust EV charging infrastructure, contributing to the overall growth of the market.
  • Technological Advancements: Ongoing advancements in solid state transformer technology, including improvements in power density, efficiency, and control features, are driving market growth. These innovations make solid state transformers more attractive for various applications and industries.
  • Energy Storage Integration: Solid state transformers can play a crucial role in integrating energy storage systems into the grid. As energy storage becomes increasingly important for grid stability and reliability, there is an opportunity for solid state transformers to facilitate seamless integration and enhance overall system performance.
  • Government Support and Incentives: The favourable regulatory environment and government incentives for clean energy technologies create opportunities for the solid state transformer market. Continued support through subsidies, grants, and policy frameworks can accelerate the adoption of solid state transformers in the European energy landscape.

Europe Solid State Transformer Market – Mergers and Acquisitions

The Europe Solid State Transformer Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Europe Solid State Transformer Market include:

  • In 2022, General Motors (GM), NextEnergy, DTE Energy, Virginia Tech’s CPES, and the American Center for Mobility, in collaboration with Delta Electronics, unveiled a 400kW extremely fast EV charger. Powered by a next-gen SiC MOSFET solid-state transformer, it supports a leading 500 Amps charging current, aiming to boost e-mobility adoption in the region.
  • In 2022, Delta showcased a 400kW Solid State Transformer-based Extreme Fast EV Charger to key partners, including GM, DTE Energy, NextEnergy, Virginia Tech’s CPES, American Center for Mobility, and the U.S. DOE. This innovation highlights Delta’s commitment to advancing electric vehicle charging infrastructure and collaboration with industry leaders.
  • In 2021, Hitachi ABB Power Grids and NTU Singapore collaborate on advancing solid-state transformer (SST) technology. Led by the Energy Research Institute and supported by NRF Singapore, the partnership aims to drive innovation and research in SST, contributing to the evolution of power distribution technologies.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Europe Solid State Transformer Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Europe Solid State Transformer Market Subsea Production and Processing Systems Market Solid State Transformer Market
CAGR 15.7% (Approx) CAGR 8.4% (Approx) CAGR 16% (Approx)
USD 133 Million by 2032 USD 36.4 Billion by 2032 USD 240 Million by 2032

Europe Solid State Transformer Market – Significant Threats

The Europe Solid State Transformer Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Market Uncertainties and Economic Volatility: Economic uncertainties and market fluctuations can impact investment decisions in infrastructure projects, including those related to solid state transformers. Uncertain economic conditions may lead to delays or cancellations of projects, affecting the overall market growth.
  • Regulatory and Standards Compliance: Evolving regulations and standards in the energy sector pose a threat to solid state transformer manufacturers. Compliance with rapidly changing standards may require frequent adjustments, impacting production cycles and potentially slowing down market growth.
  • Competition from Conventional Transformers: Traditional transformers continue to dominate the market, and the familiarity and established infrastructure associated with these conventional technologies present a challenge for the widespread adoption of solid state transformers. Convincing stakeholders to shift from proven technologies to newer, albeit advanced, options can be challenging.
  • Technological Challenges and Complexity: The complexity of solid state transformer technology poses a challenge, including issues related to design, manufacturing, and reliability. Technical complexities may hinder widespread adoption and pose challenges for companies aiming to streamline production processes.
  • High Initial Costs: The initial costs associated with implementing solid state transformers are relatively high compared to traditional transformers. This cost factor may act as a deterrent, particularly for smaller utilities or projects with budget constraints, impacting market penetration.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 35.8 Million
Projected Market Size in 2032 USD 133 Million
Market Size in 2022 USD 31.1 Million
CAGR Growth Rate 15.7% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Component, Application, End-use and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope Europe
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type

  • Distribution Solid State Transformers: Distribution solid state transformers enhance power distribution efficiency by enabling bidirectional power flow and voltage control. In Europe, a trend involves integrating these transformers into smart grids for enhanced grid management, reduced losses, and improved reliability, aligning with the region’s emphasis on sustainable energy.
  • Power Solid State Transformer: Power solid state transformers facilitate efficient energy conversion and distribution. In Europe, a trend involves their application in renewable energy integration, enhancing grid stability. Their compact design and advanced control features contribute to increased energy efficiency, addressing the continent’s clean energy goals.
  • Traction Solid State Transformer: Traction solid state transformers are crucial for electrified transportation systems. In Europe, a trend includes their application in railway electrification, supporting the transition to electric trains. This technology enhances energy efficiency and reduces environmental impact, aligning with the region’s sustainable transportation initiatives.

By Component

  • Converters: Converters in the Europe Solid State Transformer Market refer to devices facilitating power conversion. Trends involve increasing efficiency and bidirectional power flow capabilities. Advancements focus on compact designs for easy integration into diverse applications, supporting the market’s shift towards renewable energy and smart grids.
  • High-frequency Transformers: High-frequency transformers are essential components in Solid State Transformers. Trends center around miniaturization, improved power density, and advanced materials. Manufacturers focus on developing transformers with higher efficiency and reduced losses, catering to the demand for compact and energy-efficient solutions in Europe.
  • Switches: Switches play a crucial role in controlling power flow in Solid State Transformers. Current trends involve advancements in semiconductor technologies for enhanced switching efficiency and reliability. The market is witnessing a shift towards solid-state switches with improved performance, lower losses, and increased switching speeds, contributing to overall system efficiency.
  • Others: The “Others” category in the Europe Solid State Transformer Market encompasses various supporting components and technologies. Current trends emphasize the integration of advanced materials, IoT connectivity, and digital control systems. Innovations in this segment focus on enhancing overall system performance, reliability, and adaptability to diverse applications.

Europe Solid State Transformer Market 2023–2032 (By Million)

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By Application 

  • Alternative Power Generation: Solid state transformers in Europe’s alternative power generation enhance efficiency, integrating renewable sources seamlessly. Trends include grid resilience, bidirectional power flow for energy storage, and decentralized power generation, aligning with the region’s commitment to sustainable energy practices.
  • Electric Vehicle Charging Stations: In Europe, solid state transformers facilitate efficient power conversion and distribution at EV charging stations. Trends include bidirectional power flow, fast-charging capabilities, and smart grid integration, supporting the region’s accelerating shift towards electric mobility.
  • Power Distribution: Solid state transformers in Europe’s power distribution sector enhance grid flexibility and reliability. Trends include digitalization, real-time monitoring, and voltage regulation, aligning with grid modernization initiatives and addressing the challenges of fluctuating energy demand.
  • Traction Locomotives: In Europe, solid state transformers power traction locomotives with high efficiency and compact design. Trends involve regenerative braking, improved power quality, and integration with rail electrification systems, contributing to the region’s sustainable and efficient transportation infrastructure.

By End Use

  • Energy: Solid state transformers in the European energy sector enhance grid efficiency, accommodate renewable sources seamlessly, and support smart grid evolution. Trends include grid modernization initiatives, increased reliance on renewable energy, and advancements in energy storage integration.
  • Transportation: In transportation, solid state transformers drive the growth of electric vehicle (EV) infrastructure, offering efficient power distribution solutions. Trends involve the rising adoption of EVs, leading to increased demand for robust charging infrastructure.
  • Others: Solid state transformers find diverse applications beyond energy and transportation, including industrial and commercial sectors. Trends encompass technological innovations, addressing specific industry needs, and expanding the overall market reach.

Europe Solid State Transformer Market 2023–2032 (By End-use)

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Competitive Landscape – Europe Solid State Transformer Market

The Europe Solid State Transformer Market is highly competitive, with a large number of manufacturers and retailers operating. Some of the key players in the market include:

  • Hitachi Ltd.
  • CREE Inc.
  • Varentec Inc.
  • Gridbridge Inc.
  • Maschinenfabrik Reinhausen GmbH
  • Qualcomm Technologies Inc.
  • SPX Transformer Solutions Inc.
  • Starfish Energy Pty Ltd.
  • AEG Power Solutions B.V.
  • ABB Ltd.
  • Siemens AG
  • General Electric Company
  • Schneider Electric SE
  • Mitsubishi Electric Corporation
  • Eaton Corporation plc
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players entering the Europe Solid State Transformer market, such as start-ups and tech firms, are adopting innovation and development to carve their niche. They often focus on niche applications, introducing novel technologies.

Key players dominating the market, including ABB Ltd., Siemens AG, and General Electric Company, leverage their established reputation, financial strength, and extensive R&D capabilities.

These industry giants continue to lead by pioneering cutting-edge technologies, forming strategic partnerships, and actively participating in major grid modernization projects, solidifying their market dominance through a comprehensive and forward-looking approach.

Europe Solid State Transformer Market 2023–2032 (By Component)

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The Europe Solid State Transformer Market is segmented as follows:

By Type

  • Distribution Solid State Transformer
  • Power Solid State Transformer
  • Traction Solid State Transformer

By Component

  • Converters
  • High-frequency Transformers
  • Switches
  • Others

By Application

  • Alternative Power Generation
  • Electric Vehicle Charging Stations
  • Power Distribution
  • Traction Locomotives

By End-use

  • Energy
  • Transportation
  • Others

Regional Coverage:

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Europe Solid State Transformer Market, (2024 – 2033) (USD Million)
    • 2.2 Europe Solid State Transformer Market: snapshot
  • Chapter 3. Europe Solid State Transformer Market – Industry Analysis
    • 3.1 Europe Solid State Transformer Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Renewable Energy Integration
      • 3.2.2 Smart Grid Advancements
      • 3.2.3 Grid Resilience Needs
      • 3.2.4 Government Initiatives
      • 3.2.5 Electric Vehicle (EV) Charging Infrastructure
      • 3.2.6 Integration with Energy Storage.
      • 3.2.7 Grid Modernization Initiatives
      • 3.2.8 Electric Vehicle Adoption
      • 3.2.9 Technological Advancements
      • 3.2.10 Energy Storage Integration
      • 3.2.11 Government Support and Incentives.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Type
      • 3.7.2 Market Attractiveness Analysis By Component
      • 3.7.3 Market Attractiveness Analysis By Application
      • 3.7.4 Market Attractiveness Analysis By End-use
  • Chapter 4. Europe Solid State Transformer Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Europe Solid State Transformer Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Europe Solid State Transformer Market – Type Analysis
    • 5.1 Europe Solid State Transformer Market Overview: By Type
      • 5.1.1 Europe Solid State Transformer Market Share, By Type, 2022 and – 2033
    • 5.2 Distribution Solid State Transformer
      • 5.2.1 Europe Solid State Transformer Market by Distribution Solid State Transformer, 2024 – 2033 (USD Million)
    • 5.3 Power Solid State Transformer
      • 5.3.1 Europe Solid State Transformer Market by Power Solid State Transformer, 2024 – 2033 (USD Million)
    • 5.4 Traction Solid State Transformer
      • 5.4.1 Europe Solid State Transformer Market by Traction Solid State Transformer, 2024 – 2033 (USD Million)
  • Chapter 6. Europe Solid State Transformer Market – Component Analysis
    • 6.1 Europe Solid State Transformer Market Overview: By Component
      • 6.1.1 Europe Solid State Transformer Market Share, By Component, 2022 and – 2033
    • 6.2 Converters
      • 6.2.1 Europe Solid State Transformer Market by Converters, 2024 – 2033 (USD Million)
    • 6.3 High-frequency Transformers
      • 6.3.1 Europe Solid State Transformer Market by High-frequency Transformers, 2024 – 2033 (USD Million)
    • 6.4 Switches
      • 6.4.1 Europe Solid State Transformer Market by Switches, 2024 – 2033 (USD Million)
    • 6.5 Others
      • 6.5.1 Europe Solid State Transformer Market by Others, 2024 – 2033 (USD Million)
  • Chapter 7. Europe Solid State Transformer Market – Application Analysis
    • 7.1 Europe Solid State Transformer Market Overview: By Application
      • 7.1.1 Europe Solid State Transformer Market Share, By Application, 2022 and – 2033
    • 7.2 Alternative Power Generation
      • 7.2.1 Europe Solid State Transformer Market by Alternative Power Generation, 2024 – 2033 (USD Million)
    • 7.3 Electric Vehicle Charging Stations
      • 7.3.1 Europe Solid State Transformer Market by Electric Vehicle Charging Stations, 2024 – 2033 (USD Million)
    • 7.4 Power Distribution
      • 7.4.1 Europe Solid State Transformer Market by Power Distribution, 2024 – 2033 (USD Million)
    • 7.5 Traction Locomotives
      • 7.5.1 Europe Solid State Transformer Market by Traction Locomotives, 2024 – 2033 (USD Million)
  • Chapter 8. Europe Solid State Transformer Market – End-use Analysis
    • 8.1 Europe Solid State Transformer Market Overview: By End-use
      • 8.1.1 Europe Solid State Transformer Market Share, By End-use, 2022 and – 2033
    • 8.2 Energy
      • 8.2.1 Europe Solid State Transformer Market by Energy, 2024 – 2033 (USD Million)
    • 8.3 Transportation
      • 8.3.1 Europe Solid State Transformer Market by Transportation, 2024 – 2033 (USD Million)
    • 8.4 Others
      • 8.4.1 Europe Solid State Transformer Market by Others, 2024 – 2033 (USD Million)
  • Chapter 9. Europe Solid State Transformer Market – Regional Analysis
    • 9.1 Europe Solid State Transformer Market Regional Overview
    • 9.2 Europe Solid State Transformer Market Share, by Region, 2022 & – 2033 (USD Million)
    • 9.3. Europe
      • 9.3.1 Europe Europe Solid State Transformer Market, 2024 – 2033 (USD Million)
        • 9.3.1.1 Europe Europe Solid State Transformer Market, by Country, 2024 – 2033 (USD Million)
    • 9.4 Europe Europe Solid State Transformer Market, by Type, 2024 – 2033
      • 9.4.1 Europe Europe Solid State Transformer Market, by Type, 2024 – 2033 (USD Million)
    • 9.5 Europe Europe Solid State Transformer Market, by Component, 2024 – 2033
      • 9.5.1 Europe Europe Solid State Transformer Market, by Component, 2024 – 2033 (USD Million)
    • 9.6 Europe Europe Solid State Transformer Market, by Application, 2024 – 2033
      • 9.6.1 Europe Europe Solid State Transformer Market, by Application, 2024 – 2033 (USD Million)
    • 9.7 Europe Europe Solid State Transformer Market, by End-use, 2024 – 2033
      • 9.7.1 Europe Europe Solid State Transformer Market, by End-use, 2024 – 2033 (USD Million)
  • Chapter 10. Company Profiles
    • 10.1 Hitachi Ltd.
      • 10.1.1 Overview
      • 10.1.2 Financials
      • 10.1.3 Product Portfolio
      • 10.1.4 Business Strategy
      • 10.1.5 Recent Developments
    • 10.2 CREE Inc.
      • 10.2.1 Overview
      • 10.2.2 Financials
      • 10.2.3 Product Portfolio
      • 10.2.4 Business Strategy
      • 10.2.5 Recent Developments
    • 10.3 Varentec Inc.
      • 10.3.1 Overview
      • 10.3.2 Financials
      • 10.3.3 Product Portfolio
      • 10.3.4 Business Strategy
      • 10.3.5 Recent Developments
    • 10.4 Gridbridge Inc.
      • 10.4.1 Overview
      • 10.4.2 Financials
      • 10.4.3 Product Portfolio
      • 10.4.4 Business Strategy
      • 10.4.5 Recent Developments
    • 10.5 Maschinenfabrik Reinhausen GmbH
      • 10.5.1 Overview
      • 10.5.2 Financials
      • 10.5.3 Product Portfolio
      • 10.5.4 Business Strategy
      • 10.5.5 Recent Developments
    • 10.6 Qualcomm Technologies Inc.
      • 10.6.1 Overview
      • 10.6.2 Financials
      • 10.6.3 Product Portfolio
      • 10.6.4 Business Strategy
      • 10.6.5 Recent Developments
    • 10.7 SPX Transformer Solutions Inc.
      • 10.7.1 Overview
      • 10.7.2 Financials
      • 10.7.3 Product Portfolio
      • 10.7.4 Business Strategy
      • 10.7.5 Recent Developments
    • 10.8 Starfish Energy Pty Ltd.
      • 10.8.1 Overview
      • 10.8.2 Financials
      • 10.8.3 Product Portfolio
      • 10.8.4 Business Strategy
      • 10.8.5 Recent Developments
    • 10.9 AEG Power Solutions B.V.
      • 10.9.1 Overview
      • 10.9.2 Financials
      • 10.9.3 Product Portfolio
      • 10.9.4 Business Strategy
      • 10.9.5 Recent Developments
    • 10.10 ABB Ltd.
      • 10.10.1 Overview
      • 10.10.2 Financials
      • 10.10.3 Product Portfolio
      • 10.10.4 Business Strategy
      • 10.10.5 Recent Developments
    • 10.11 Siemens AG
      • 10.11.1 Overview
      • 10.11.2 Financials
      • 10.11.3 Product Portfolio
      • 10.11.4 Business Strategy
      • 10.11.5 Recent Developments
    • 10.12 General Electric Company
      • 10.12.1 Overview
      • 10.12.2 Financials
      • 10.12.3 Product Portfolio
      • 10.12.4 Business Strategy
      • 10.12.5 Recent Developments
    • 10.13 Schneider Electric SE
      • 10.13.1 Overview
      • 10.13.2 Financials
      • 10.13.3 Product Portfolio
      • 10.13.4 Business Strategy
      • 10.13.5 Recent Developments
    • 10.14 Mitsubishi Electric Corporation
      • 10.14.1 Overview
      • 10.14.2 Financials
      • 10.14.3 Product Portfolio
      • 10.14.4 Business Strategy
      • 10.14.5 Recent Developments
    • 10.15 Eaton Corporation plc
      • 10.15.1 Overview
      • 10.15.2 Financials
      • 10.15.3 Product Portfolio
      • 10.15.4 Business Strategy
      • 10.15.5 Recent Developments
    • 10.16 Others.
      • 10.16.1 Overview
      • 10.16.2 Financials
      • 10.16.3 Product Portfolio
      • 10.16.4 Business Strategy
      • 10.16.5 Recent Developments
List Of Figures

Figures No 1 to 28

List Of Tables

Tables No 1 to 6

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Hitachi Ltd.
  • CREE Inc.
  • Varentec Inc.
  • Gridbridge Inc.
  • Maschinenfabrik Reinhausen GmbH
  • Qualcomm Technologies Inc.
  • SPX Transformer Solutions Inc.
  • Starfish Energy Pty Ltd.
  • AEG Power Solutions B.V.
  • ABB Ltd.
  • Siemens AG
  • General Electric Company
  • Schneider Electric SE
  • Mitsubishi Electric Corporation
  • Eaton Corporation plc
  • Others

FAQs

The key factors driving the Market are Grid Modernization Initiatives, Electric Vehicle Adoption, Technological Advancements, Energy Storage Integration And Government Support and Incentives.

The “Distribution Solid State Transformer” category dominated the market in 2022.

The key players in the market are Hitachi Ltd., CREE Inc., Varentec Inc., Gridbridge Inc., Maschinenfabrik Reinhausen GmbH, Qualcomm Technologies Inc., SPX Transformer Solutions Inc., Starfish Energy Pty Ltd., AEG Power Solutions B.V., ABB Ltd., Siemens AG, General Electric Company, Schneider Electric SE, Mitsubishi Electric Corporation, Eaton Corporation plc, Others.

The market is projected to grow at a CAGR of 15.7% during the forecast period, 2023-2032.

The Europe Solid State Transformer Market size was valued at USD 35.8 Million in 2023.

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