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Solid State Transformers Market Size, Share & Trends Analysis Report By Product, By Application (Renewable Power Generation, Automotive, Power Grids), By Region, And Segment Forecasts, 2025 - 2030

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    Report

  • 120 Pages
  • November 2024
  • Region: Global
  • Grand View Research
  • ID: 6032417
Description Jump to:
The global solid state transformers market size is anticipated to reach USD 935.8 million by 2030 and is anticipated to grow at a CAGR of 32.0% from 2025 to 2030. 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.

Solid State Transformers Market Report Highlights

  • Distribution solid state transformers (D-SSTs) accounted for the largest revenue share of 37.0% in the global market in 2024. The demand for these products is growing steadily due to several factors enabling the evolution of electrical distribution systems
  • The renewable power generation segment accounted for a leading revenue share in the global market in 2024
  • The traction solid state transformers segment is expected to advance at a substantial CAGR from 2025 to 2030
  • Asia Pacific accounted for a leading revenue share of 36.6% in the global market in 2024, aided by rising investments in smart grid technology by governments and private organizations and rising pace of modernization across economies

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets


This product will be delivered within 1-3 business days.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.2.1. Information Procurement
1.3. Information or Data Analysis
1.4. Methodology
1.5. Research Scope and Assumptions
1.6. Market Formulation & Validation
1.7. Country Based Segment Share Calculation
1.8. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Solid State Transformers Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Drivers Analysis
3.2.2. Market Restraints Analysis
3.2.3. Industry Challenges
3.3. Solid State Transformers Market Analysis Tools
3.3.1. Porter’s Analysis
3.3.1.1. Bargaining power of the suppliers
3.3.1.2. Bargaining power of the buyers
3.3.1.3. Threats of substitution
3.3.1.4. Threats from new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political Landscape
3.3.2.2. Economic and Social Landscape
3.3.2.3. Technological Landscape
3.3.2.4. Environmental Landscape
3.3.2.5. Legal Landscape
Chapter 4. Solid State Transformers Market: Product Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Solid State Transformers Market: Product Movement Analysis, USD Million, 2024 & 2030
4.3. Distribution Solid State Transformers
4.3.1. Distribution Solid State Transformers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. Power Solid State Transformers
4.4.1. Power Solid State Transformers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.5. Traction Solid State Transformers
4.5.1. Traction Solid State Transformers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.6. Others
4.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Solid State Transformers Market: Application Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Solid State Transformers Market: Application Movement Analysis, USD Million, 2024 & 2030
5.3. Automotive
5.3.1. Automotive Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Power Grids
5.4.1. Power Grids Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.5. Traction Locomotives
5.5.1. Traction Locomotives Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.6. Renewable Power Generation
5.6.1. Renewable Power Generation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.7. Others
5.7.1. Other Applications Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Solid State Transformers Market: Regional Estimates & Trend Analysis
6.1. Solid State Transformers Market Share, By Region, 2024 & 2030, USD Million
6.2. North America
6.2.1. North America Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.2.2. U.S.
6.2.2.1. U.S. Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.2.3. Canada
6.2.3.1. Canada Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.2.4. Mexico
6.2.4.1. Mexico Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3. Europe
6.3.1. Europe Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.2. UK
6.3.2.1. UK Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.3. Germany
6.3.3.1. Germany Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.4. France
6.3.4.1. France Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Asia Pacific
6.4.1. Asia Pacific Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.2. China
6.4.2.1. China Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.3. Japan
6.4.3.1. Japan Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.4. India
6.4.4.1. India Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.5. South Korea
6.4.5.1. South Korea Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.6. Australia
6.4.6.1. Australia Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5. Latin America
6.5.1. Latin America Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5.2. Brazil
6.5.2.1. Brazil Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6. Middle East and Africa
6.6.1. Middle East and Africa Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.2. Saudi Arabia
6.6.2.1. Saudi Arabia Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.3. South Africa
6.6.3.1. South Africa Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.4. UAE
6.6.4.1. UAE Solid State Transformers Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
7.1. Company Categorization
7.2. Company Market Positioning
7.3. Company Heat Map Analysis
7.4. Company Profiles
7.4.1. Semiconductor Components Industries, LLC
7.4.1.1. Participant’s Overview
7.4.1.2. Financial Performance
7.4.1.3. Product Benchmarking
7.4.1.4. Recent Developments/ Strategic Initiatives
7.4.2. ABB
7.4.2.1. Participant’s Overview
7.4.2.2. Financial Performance
7.4.2.3. Product Benchmarking
7.4.2.4. Recent Developments/ Strategic Initiatives
7.4.3. Infineon Technologies AG
7.4.3.1. Participant’s Overview
7.4.3.2. Financial Performance
7.4.3.3. Product Benchmarking
7.4.3.4. Recent Developments/ Strategic Initiatives
7.4.4. Siemens
7.4.4.1. Participant’s Overview
7.4.4.2. Financial Performance
7.4.4.3. Product Benchmarking
7.4.4.4. Recent Developments/ Strategic Initiatives
7.4.5. ROHM Co., Ltd.
7.4.5.1. Participant’s Overview
7.4.5.2. Financial Performance
7.4.5.3. Product Benchmarking
7.4.5.4. Recent Developments/ Strategic Initiatives
7.4.6. STMicroelectronics
7.4.6.1. Participant’s Overview
7.4.6.2. Financial Performance
7.4.6.3. Product Benchmarking
7.4.6.4. Recent Developments/ Strategic Initiatives
7.4.7. Renesas Electronics Corporation
7.4.7.1. Participant’s Overview
7.4.7.2. Financial Performance
7.4.7.3. Product Benchmarking
7.4.7.4. Recent Developments/ Strategic Initiatives
7.4.8. Alstom SA
7.4.8.1. Participant’s Overview
7.4.8.2. Financial Performance
7.4.8.3. Product Benchmarking
7.4.8.4. Recent Developments/ Strategic Initiatives
7.4.9. Toshiba Corporation
7.4.9.1. Participant’s Overview
7.4.9.2. Financial Performance
7.4.9.3. Product Benchmarking
7.4.9.4. Recent Developments/ Strategic Initiatives
7.4.10. Mitsubishi Electric Corporation
7.4.10.1. Participant’s Overview
7.4.10.2. Financial Performance
7.4.10.3. Product Benchmarking
7.4.10.4. Recent Developments/ Strategic Initiatives
List of Tables
Table 1 Global Solid State Transformers Market, By Region 2018 - 2030 (USD Million)
Table 2 Global Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 3 Global Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 4 North America Solid State Transformers Market, By Country 2018 - 2030 (USD Million)
Table 5 North America Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 6 North America Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 7 U.S. Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 8 U.S. Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 9 Canada Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 10 Canada Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 11 Mexico Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 12 Mexico Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 13 Europe Solid State Transformers Market, By Country 2018 - 2030 (USD Million)
Table 14 Europe Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 15 Europe Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 16 UK Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 17 UK Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 18 Germany Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 19 Germany Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 20 France Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 21 France Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 22 Asia Pacific Solid State Transformers Market, By Country 2018 - 2030 (USD Million)
Table 23 Asia Pacific Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 24 Asia Pacific Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 25 China Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 26 China Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 27 India Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 28 India Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 29 Japan Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 30 Japan Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 31 South Korea Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 32 South Korea Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 33 Australia Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 34 Australia Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 35 Latin America Solid State Transformers Market, By Country 2018 - 2030 (USD Million)
Table 36 Latin America Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 37 Latin America Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 38 Brazil Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 39 Brazil Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 40 MEA Solid State Transformers Market, By Country 2018 - 2030 (USD Million)
Table 41 MEA Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 42 MEA Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 43 Saudi Arabia Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 44 Saudi Arabia Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 45 South Africa Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 46 South Africa Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
Table 47 UAE Solid State Transformers Market, By Product 2018 - 2030 (USD Million)
Table 48 UAE Solid State Transformers Market, By Application 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Solid state transformers market segmentation
Fig. 2 Market research process
Fig. 3 Information procurement
Fig. 4 Primary research pattern
Fig. 5 Market research approaches
Fig. 6 Value chain-based sizing & forecasting
Fig. 7 Parent market analysis
Fig. 8 Market formulation & validation
Fig. 9 Solid state transformers market snapshot
Fig. 10 Solid state transformers market segment snapshot
Fig. 11 Solid state transformers market competitive landscape snapshot
Fig. 12 Market research process
Fig. 13 Market driver relevance analysis (Current & future impact)
Fig. 14 Market restraint relevance analysis (Current & future impact)
Fig. 15 Solid state transformers market: Product outlook key takeaways (USD Million)
Fig. 16 Solid state transformers market: Product movement analysis (USD Million), 2024 & 2030
Fig. 17 Distribution solid state transformers market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 18 Power solid state transformers market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 19 Traction solid state transformers market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 20 Others market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 21 Solid state transformers market: Application outlook key takeaways (USD Million)
Fig. 22 Solid state transformers market: Application movement analysis (USD Million), 2024 & 2030
Fig. 23 Automotive market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 24 Power grids market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 25 Traction locomotives market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 26 Renewable power generation market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 27 Other applications market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 28 Regional marketplace: Key takeaways
Fig. 29 Solid state transformers market: Regional outlook, 2024 & 2030, USD Million
Fig. 30 North America solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 31 U.S. solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 32 Canada solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 33 Mexico solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 34 Europe solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 35 UK solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 36 Germany solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 37 France solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 38 Asia Pacific solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 39 Japan solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 40 China solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 41 India solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 42 South Korea solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 43 Australia solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 44 Latin America solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 45 Brazil solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 46 MEA solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 47 South Africa solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 48 Saudi Arabia solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 49 UAE solid state transformers market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 50 Strategy framework
Fig. 51 Company categorization

Companies Mentioned

  • Semiconductor Components Industries, LLC
  • ABB
  • Infineon Technologies AG
  • Siemens
  • ROHM Co., Ltd.
  • STMicroelectronics
  • Renesas Electronics Corporation
  • Alstom SA
  • Toshiba Corporation
  • Mitsubishi Electric Corporation

Methodology

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Table Information

Report AttributeDetails
No. of Pages120
PublishedNovember 2024
Forecast Period2024 - 2030
Estimated Market Value ( USD ) in 2024 $ 169.4 Million
Forecasted Market Value ( USD ) by 2030 $ 935.8 Million
Compound Annual Growth Rate32.0%
Regions CoveredGlobal
No. of Companies Mentioned10

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