Global distribution solid state transformer market is expected to grow $229.27 M by 2027
The global distribution solid state transformer market is expected to grow from to $229.27 M by 2027, at a CAGR of 19.83% during the forecast period 2020-2027.
global distribution solid state transformer market
The global distribution solid state transformer market is expected to grow from $53.93 M in 2019 to $229.27 M by 2027, at a CAGR of 19.83% during the forecast period 2020-2027.
A distribution solid state is a solid-state transformer (SST), power electronic transformer (PET), or electronic power transformer is in fact an AC-to-AC converter, a type of electric power converter that substitutes a conventional transformer used in AC electric power supply. It is more difficult than a conventional transformer working at utility frequency, but it can be smaller and more efficient than a conventional transformer because it operates at high frequency.
The regions covered in this report are North America, Europe, China, and Japan. Europe held the largest market share of 42.60 %. In Europe, it is becoming increasingly popular for electric utilities to support decarbonisation. The utility companies are motivated by driving electricity demand while also responding to customer concerns about the environment.
The major companies for global distribution solid state transformer market are ABB, General Electric, Siemens AG and Schneider Electric.