North America Solid State Transformer Market Size, Trends and Insights 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), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI39891

Published Date: January 2024

Pages: 320+

Category: North America

Report Snapshot

CAGR: 15.7%
24.8M
2022
28.5M
2023
105.7M
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: North America
Largest Market: North America

Major Players

  • ABB Ltd.
  • Siemens AG
  • Schneider Electric SE
  • General Electric Company
  • Mitsubishi Electric Corporation
  • Eaton Corporation plc
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the North America 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 28.5 Million. By 2032, the valuation is anticipated to reach USD 105.7 Million.

The North America Solid State Transformer market encompasses the development, manufacturing, and deployment of advanced power distribution solutions. These transformers utilize semiconductor devices to convert and regulate electrical power efficiently.

The market is driven by trends such as renewable energy integration, smart grid advancements, and a growing focus on grid resilience. Key players like ABB Ltd. and Siemens AG lead with innovative technologies.

As the region seeks sustainable and resilient power infrastructure, the Solid State Transformer market plays a crucial role in meeting the demands of an evolving energy landscape in North America.

North America Solid State Transformer Market – Significant Growth Factors

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

  • Renewable Energy Integration: The increasing adoption of renewable energy sources, such as solar and wind, drives the demand for Solid State Transformers (SSTs) as they facilitate efficient integration and management of fluctuating renewable power.
  • Smart Grid Advancements: The ongoing modernization of power grids, focusing on smart grid technologies, propels the demand for SSTs. These transformers enhance grid flexibility, and reliability, and enable bidirectional power flow.
  • Grid Resilience Needs: Growing concerns about grid resilience, particularly in the face of climate-related challenges, stimulate the deployment of SSTs to enhance the overall stability and reliability of power distribution.
  • Government Initiatives: Supportive government initiatives and policies aimed at upgrading power infrastructure, improving energy efficiency, and reducing carbon emissions contribute significantly to the market’s growth.
  • Electric Vehicle (EV) Charging Infrastructure: The increasing adoption of electric vehicles presents an opportunity for SSTs to develop efficient and reliable EV charging infrastructure, supporting the growing trend towards electric mobility.
  • Integration with Energy Storage: The synergy between SSTs and energy storage solutions provides an opportunity to enhance grid performance and support intermittent renewable energy sources, contributing to a more sustainable and resilient energy ecosystem.

North America Solid State Transformer Market – Mergers and Acquisitions

The North America 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 North America 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 extreme 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 North America.
  • 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 North America 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

North America Solid State Transformer Market Decarbonizing Market Solid State Transformer Market
CAGR 15.7% (Approx) CAGR 11.5% (Approx) CAGR 16% (Approx)
USD 105.7 Million by 2032 USD 2544.1 Billion by 2032 USD 240 Million by 2032

North America Solid State Transformer Market – Significant Threats

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

  • Technological Challenges: Rapid advancements in solid-state transformer technology may pose challenges for companies to keep up with the pace of innovation, potentially leading to market disruption for those unable to adapt swiftly.
  • High Initial Costs: The upfront costs associated with deploying solid-state transformers can be relatively high, presenting a barrier to widespread adoption and potentially deterring potential buyers or investors.
  • Regulatory Uncertainties: Shifting regulations and standards in the energy sector may impact the market. Uncertainties regarding future regulations can create a challenging environment for companies in terms of compliance and strategic planning.
  • Competition from Traditional Transformers: Well-established manufacturers of traditional transformers may pose a threat by offering cost-effective solutions, especially in cases where the benefits of solid-state transformers may not be deemed essential or cost-efficient for certain applications.
  • Integration Challenges: Integrating solid-state transformers into existing power grids and infrastructures may present technical challenges and require significant investments in retrofitting, hindering the seamless adoption of this technology. Compatibility issues may arise with legacy systems, slowing down the market penetration of solid-state transformers.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 28.5 Million
Projected Market Size in 2032 USD 105.7 Million
Market Size in 2022 USD 24.8 Million
CAGR Growth Rate 15.7% CAGR
Base Year 2022
Forecast Period 2023-2032
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 North America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type

  • Distribution Solid State Transformer: Distribution SSTs regulate and convert power for local distribution grids. In North America, the rising focus on grid resilience and decentralized energy systems propels the demand. Trends include increased deployment in smart grids and facilitating renewable energy integration at the distribution level.
  • Power Solid State Transformer: Power SSTs facilitate efficient long-distance power transmission. In North America, the trend emphasizes enhancing grid reliability. As the region aims for sustainable energy infrastructure, Power SSTs find application in smart grids and large-scale renewable energy projects.
  • Traction Solid State Transformer: Traction SSTs cater to the transportation sector, particularly electric vehicles. In North America, the trend involves developing efficient EV charging infrastructure. Traction SSTs play a vital role in meeting the growing demand for sustainable and high-performance electric mobility solutions.

By Sports Type

  • Converters: Converters in the North America Solid State Transformer market are crucial components for power conversion. Trends indicate a focus on enhancing efficiency and reducing energy losses. Advanced semiconductor materials and innovative converter designs are driving improvements, aligning with the region’s push for sustainable energy solutions.
  • High-frequency Transformers: High-frequency transformers play a pivotal role in the Solid State Transformer market in North America, ensuring efficient energy transfer. The trends highlight advancements in core materials and design for higher frequencies, aiming to achieve compactness and improved performance, thus meeting the demands of modern power grids.
  • Switches: Switches are essential for controlling the flow of electrical power in Solid State Transformers. In North America, trends involve the development of robust and reliable switching technologies. Emphasis is on minimizing switching losses, enhancing grid reliability, and supporting the evolving needs of smart grids, reflecting a dynamic market landscape.
  • Others: Other components in the North America Solid State Transformer market encompass various supporting elements like control systems and cooling mechanisms. Trends suggest a growing focus on smart control systems for better grid management and advancements in cooling technologies to ensure optimal performance, contributing to the overall efficiency and reliability of the systems.

North America Solid State Transformer Market 2023–2032 (By Million)

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By Application 

  • Alternative Power Generation: Solid State Transformers in alternative power generation optimize energy transfer, enhancing grid stability. Trends include increased deployment in solar and wind farms, improving efficiency and accommodating variable power generation, aligning with the growing shift towards sustainable energy sources in North America.
  • Electric Vehicle Charging Stations: Solid State Transformers play a crucial role in EV charging infrastructure, providing efficient power conversion. Trends involve the integration of SSTs in fast-charging networks, addressing grid challenges and supporting the rising demand for electric mobility solutions in North America.
  • Power Distribution: In power distribution, Solid State Transformers enhance grid flexibility and reliability. Trends include their deployment in smart grids, supporting bidirectional power flow, and contributing to grid resilience, aligning with the modernization efforts in North America’s power distribution infrastructure.
  • Traction Locomotives: Solid State Transformers in traction locomotives improve energy efficiency and control. Trends include the integration of SSTs in electrified rail systems, reducing energy losses and enhancing the performance of electric trains, aligning with the electrification trends in North America’s transportation sector.

By End Use

  • Energy: Solid State Transformers (SSTs) in the energy sector facilitate efficient power distribution and integration of renewable sources. The trend involves grid modernization, emphasizing SSTs for enhanced reliability, flexibility, and improved energy efficiency in North America’s evolving energy landscape.
  • Transportation: In transportation, SSTs play a pivotal role in developing efficient and resilient electric vehicle charging infrastructure. The trend involves adapting SST technology to support the growing electric mobility sector, addressing the demands for reliable and high-performance charging solutions.
  • Others: Beyond energy and transportation, SSTs find applications in various industries. The trend involves exploring diverse applications such as industrial power distribution and integrating SSTs with energy storage solutions, showcasing their versatility and adaptability in addressing specific needs across different sectors in North America.

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

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Competitive Landscape – North America Solid State Transformer Market

The North America 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:

  • ABB Ltd.
  • Siemens AG
  • Schneider Electric SE
  • General Electric Company
  • Mitsubishi Electric Corporation
  • Eaton Corporation plc
  • Varentec Inc.
  • Raychem RPG Pvt. Ltd.
  • Hitachi ABB Power Grids
  • GridBridge
  • CREE Inc.
  • Waukesha Electric Systems
  • VoltServer Inc.
  • Rogers Corporation
  • Miracle Electronics Devices Pvt. Ltd.
  • Others

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

New entrants like GridBridge are adopting innovations in solid-state transformer technology, contributing to market growth. Established players such as ABB Ltd. and Siemens AG dominate, leveraging extensive R&D investments and technological expertise. ABB emphasizes sustainable energy integration, while Siemens leads in smart grid solutions.

These key players maintain market dominance through strategic collaborations, product advancements, and comprehensive solutions. Their established reputation, global presence, and continuous innovation reinforce their leadership, setting high standards in the North America Solid State Transformer market.

North America Solid State Transformer Market 2023–2032 (By Component)

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The North America 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:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

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 North America Solid State Transformer Market, (2023 – 2032) (USD Million)
    • 2.2 North America Solid State Transformer Market: snapshot
  • Chapter 3. North America Solid State Transformer Market – Industry Analysis
    • 3.1 North America 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.
    • 3.3 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. North America Solid State Transformer Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 North America 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. North America Solid State Transformer Market – Type Analysis
    • 5.1 North America Solid State Transformer Market Overview: By Type
      • 5.1.1 North America Solid State Transformer Market Share, By Type, 2022 and 2032
    • 5.2 Distribution Solid State Transformer
      • 5.2.1 North America Solid State Transformer Market by Distribution Solid State Transformer, 2023 – 2032 (USD Million)
    • 5.3 Power Solid State Transformer
      • 5.3.1 North America Solid State Transformer Market by Power Solid State Transformer, 2023 – 2032 (USD Million)
    • 5.4 Traction Solid State Transformer
      • 5.4.1 North America Solid State Transformer Market by Traction Solid State Transformer, 2023 – 2032 (USD Million)
  • Chapter 6. North America Solid State Transformer Market – Component Analysis
    • 6.1 North America Solid State Transformer Market Overview: By Component
      • 6.1.1 North America Solid State Transformer Market Share, By Component, 2022 and 2032
    • 6.2 Converters
      • 6.2.1 North America Solid State Transformer Market by Converters, 2023 – 2032 (USD Million)
    • 6.3 High-frequency Transformers
      • 6.3.1 North America Solid State Transformer Market by High-frequency Transformers, 2023 – 2032 (USD Million)
    • 6.4 Switches
      • 6.4.1 North America Solid State Transformer Market by Switches, 2023 – 2032 (USD Million)
    • 6.5 Others
      • 6.5.1 North America Solid State Transformer Market by Others, 2023 – 2032 (USD Million)
  • Chapter 7. North America Solid State Transformer Market – Application Analysis
    • 7.1 North America Solid State Transformer Market Overview: By Application
      • 7.1.1 North America Solid State Transformer Market Share, By Application, 2022 and 2032
    • 7.2 Alternative Power Generation
      • 7.2.1 North America Solid State Transformer Market by Alternative Power Generation, 2023 – 2032 (USD Million)
    • 7.3 Electric Vehicle Charging Stations
      • 7.3.1 North America Solid State Transformer Market by Electric Vehicle Charging Stations, 2023 – 2032 (USD Million)
    • 7.4 Power Distribution
      • 7.4.1 North America Solid State Transformer Market by Power Distribution, 2023 – 2032 (USD Million)
    • 7.5 Traction Locomotives
      • 7.5.1 North America Solid State Transformer Market by Traction Locomotives, 2023 – 2032 (USD Million)
  • Chapter 8. North America Solid State Transformer Market – End-use Analysis
    • 8.1 North America Solid State Transformer Market Overview: By End-use
      • 8.1.1 North America Solid State Transformer Market Share, By End-use, 2022 and 2032
    • 8.2 Energy
      • 8.2.1 North America Solid State Transformer Market by Energy, 2023 – 2032 (USD Million)
    • 8.3 Transportation
      • 8.3.1 North America Solid State Transformer Market by Transportation, 2023 – 2032 (USD Million)
    • 8.4 Others
      • 8.4.1 North America Solid State Transformer Market by Others, 2023 – 2032 (USD Million)
  • Chapter 9. North America Solid State Transformer Market – Regional Analysis
    • 9.1 North America Solid State Transformer Market Regional Overview
    • 9.2 North America Solid State Transformer Market Share, by Region, 2022 & 2032 (USD Million)
    • 9.3. North America
      • 9.3.1 North America North America Solid State Transformer Market, 2023 – 2032 (USD Million)
        • 9.3.1.1 North America North America Solid State Transformer Market, by Country, 2023 – 2032 (USD Million)
    • 9.4 North America North America Solid State Transformer Market, by Type, 2023 – 2032
      • 9.4.1 North America North America Solid State Transformer Market, by Type, 2023 – 2032 (USD Million)
    • 9.5 North America North America Solid State Transformer Market, by Component, 2023 – 2032
      • 9.5.1 North America North America Solid State Transformer Market, by Component, 2023 – 2032 (USD Million)
    • 9.6 North America North America Solid State Transformer Market, by Application, 2023 – 2032
      • 9.6.1 North America North America Solid State Transformer Market, by Application, 2023 – 2032 (USD Million)
    • 9.7 North America North America Solid State Transformer Market, by End-use, 2023 – 2032
      • 9.7.1 North America North America Solid State Transformer Market, by End-use, 2023 – 2032 (USD Million)
  • Chapter 10. Company Profiles
    • 10.1 ABB 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 Siemens AG
      • 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 Schneider Electric SE
      • 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 General Electric Company
      • 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 Mitsubishi Electric Corporation
      • 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 Eaton Corporation plc
      • 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 Varentec 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 Raychem RPG Pvt. 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 Hitachi ABB Power Grids
      • 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 GridBridge
      • 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 CREE Inc.
      • 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 Waukesha Electric Systems
      • 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 VoltServer Inc.
      • 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 Rogers 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 Miracle Electronics Devices Pvt. Ltd.
      • 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

  • ABB Ltd.
  • Siemens AG
  • Schneider Electric SE
  • General Electric Company
  • Mitsubishi Electric Corporation
  • Eaton Corporation plc
  • Varentec Inc.
  • Raychem RPG Pvt. Ltd.
  • Hitachi ABB Power Grids
  • GridBridge
  • CREE Inc.
  • Waukesha Electric Systems
  • VoltServer Inc.
  • Rogers Corporation
  • Miracle Electronics Devices Pvt. Ltd.
  • Others

FAQs

The key factors driving the Market are Renewable Energy Integration, Smart Grid Advancements, Grid Resilience Needs, Government Initiatives, Electric Vehicle (EV) Charging Infrastructure And Integration with Energy Storage.

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

The key players in the market are ABB Ltd., Siemens AG, Schneider Electric SE, General Electric Company, Mitsubishi Electric Corporation, Eaton Corporation plc, Varentec Inc., Raychem RPG Pvt. Ltd., Hitachi ABB Power Grids, GridBridge, CREE Inc., Waukesha Electric Systems, VoltServer Inc., Rogers Corporation, Miracle Electronics Devices Pvt. Ltd., Others.

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

The North America Solid State Transformer Market size was valued at USD 28.5 Million in 2023.

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