San Francisco, 20 December 2018: The Report Solid State (Smart) Transformers Market Analysis By Product, By Component
(Converters, High-frequency Transformers, Switches), By Application, By
End-use, By Region, And Segment Forecasts, 2018 - 2025
The global solid state smart transformers market is projected to attain USD 531.5 million by 2025,
according to a new study by Grand View Research, Inc. The growing investments
in smart grid are presumed to stimulate the market growth over the next eight
years.
The need for efficient power supply and
low-cost electricity is significantly encouraging power companies to develop
the solid-state transformer technology. The technology is anticipated to be
commercialized by 2018 and is expected to pave way for large-scale adoption of
SSTs for renewable energy distribution and smart grid systems.
Government investments for increasing the
implementation of smart grid systems are further expected to drive the demand
for SSTs over the forecast period. These transformers comprise features such as
bidirectional power supply and lightweight and hence, are expected to improve
the efficiency of power distribution.
The benefits of SSTs are encouraging their
use in transport infrastructure and energy generation systems used in offshore
oil drilling. These transformers provide on-demand power that increases the
power distribution efficiency. Furthermore, they are anticipated to enable
customers to adopt self-sustaining renewable energy sources such as solar and
wind energy.
The industry players comprise mainly big
players in the power & energy industry and are mainly focused on retaining
their market share. Furthermore, these companies have a multi-regional presence
and witness stiff competition. Investing in technologies that would increase
their market share is the main area of focus for the companies. Thus, they are
largely involved in development of SST technology.
Solid state (smart) transformers are
expected to be largely adopted in developed economies, such as Europe and North
America, post commercialization. These economies are expected to be followed by
developing economies such as Asia Pacific, Latin America, and MEA.
Access Research Report of Solid State Transformer Market @ www.grandviewresearch.com/industry-analysis/solid-state-smart-transformer-market
Further key findings from the study suggest:
· High-frequency transformer is expected to
be the fastest growing component segment, growing at a CAGR of 24.2% over the
next eight years, owing to its power output characteristics when used in
different combinations
· Regions such as Europe and North America
are expected to be the early adopters of solid state transformers, owing to the
increasing adoption of renewable energy sources
· Europe is presumed to be the
fastest-growing regional market and is expected to reach USD 259.0 million by
2025, owing to high investments in smart grid technologies
· Transportation is expected to be the
fastest growing end use segment, registering a CAGR of 25.1% from 2017 to 2025,
owing to the large-scale development of transport infrastructure in developing
regions such as Asia Pacific
· The key industry participants include ABB
Ltd., General Electric, Alstom, Mitsubishi Electric Corporation, Siemens AG,
Schneider Electric SE, Cooper Power Systems, Varentec, Inc., Amantys Limited,
and GridBridge, among others
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the
global solid state smart transformers market based on product, technology,
application, end-use, and region:
Solid State (Smart) Transformer Product
Scope (Revenue, USD Million; 2014 - 2025)
·
Distribution Solid State Transformer
·
Power Solid State Transformer
·
Traction Solid State Transformer
Solid State (Smart) Transformer Component
Scope (Revenue, USD Million; 2014 - 2025)
·
Converters
·
High-frequency Transformers
·
Switches
·
Others
Solid State (Smart) Transformer Application
Scope (Revenue, USD Million; 2014 - 2025)
·
Alternative Power Generation
·
Electric Vehicle Charging Stations
·
Power Distribution
·
Traction Locomotives
·
Others
Solid State (Smart) Transformer End-use
Scope (Revenue, USD Million; 2014 - 2025)
·
Energy
·
Transportation
·
Others
Solid State (Smart) Transformer Regional
Scope (Revenue, USD Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of
Solid State Transformer Market@ www.grandviewresearch.com/press-release/global-solid-state-smart-transformer-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment