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Global Solid State Transformers (SST) Market Research Report 2025
Synopsis
Solid state transformer, also known as power electronic transformer (EPT), is a kind of electric power electronic transformation technology and electromagnetic induction principle based on the combination of high-frequency power conversion technology to achieve power characteristics of electricity into other Electric power characteristics of the static electrical equipment. Compared with the conventional transformer, EPT has many advantages, its outstanding feature is that the original current can be achieved, the side voltage and power of flexible control. EPT applied to the power system will improve the power quality; improve system stability, to achieve a flexible transmission and power market power flow under real-time control.
The global Solid State Transformers (SST) market was valued at US$ 298 million in 2023 and is anticipated to reach US$ 1217.1 million by 2030, witnessing a CAGR of 22.0% during the forecast period 2024-2030.
The major players in global Solid State Transformers (SST) market include ABB, Siemens, General electric, etc. North America, Asia-Pacific and Europe are main markets. Two-stage and Three-stage are two main types, with a share about 90%. Alternative Power Generation and Smart Grid are two key applications, which hold a share about 70%.
This report aims to provide a comprehensive presentation of the global market for Solid State Transformers (SST), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Solid State Transformers (SST).
Report Scope
The Solid State Transformers (SST) market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Solid State Transformers (SST) market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Solid State Transformers (SST) companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
ABB
Siemens
General electric
Segment by Type
Single-stage
Two-stage
Three-stage
Segment by Application
Alternative Power Generation
Smart Grid
Traction Locomotives
EV Charging
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Solid State Transformers (SST) companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Solid state transformer, also known as power electronic transformer (EPT), is a kind of electric power electronic transformation technology and electromagnetic induction principle based on the combination of high-frequency power conversion technology to achieve power characteristics of electricity into other Electric power characteristics of the static electrical equipment. Compared with the conventional transformer, EPT has many advantages, its outstanding feature is that the original current can be achieved, the side voltage and power of flexible control. EPT applied to the power system will improve the power quality; improve system stability, to achieve a flexible transmission and power market power flow under real-time control.
The global Solid State Transformers (SST) market was valued at US$ 298 million in 2023 and is anticipated to reach US$ 1217.1 million by 2030, witnessing a CAGR of 22.0% during the forecast period 2024-2030.
The major players in global Solid State Transformers (SST) market include ABB, Siemens, General electric, etc. North America, Asia-Pacific and Europe are main markets. Two-stage and Three-stage are two main types, with a share about 90%. Alternative Power Generation and Smart Grid are two key applications, which hold a share about 70%.
This report aims to provide a comprehensive presentation of the global market for Solid State Transformers (SST), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Solid State Transformers (SST).
Report Scope
The Solid State Transformers (SST) market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Solid State Transformers (SST) market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Solid State Transformers (SST) companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
ABB
Siemens
General electric
Segment by Type
Single-stage
Two-stage
Three-stage
Segment by Application
Alternative Power Generation
Smart Grid
Traction Locomotives
EV Charging
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Solid State Transformers (SST) companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Solid State Transformers (SST) Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Single-stage
1.2.3 Two-stage
1.2.4 Three-stage
1.3 Market by Application
1.3.1 Global Solid State Transformers (SST) Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Alternative Power Generation
1.3.3 Smart Grid
1.3.4 Traction Locomotives
1.3.5 EV Charging
1.3.6 Others
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Solid State Transformers (SST) Market Perspective (2019-2030)
2.2 Solid State Transformers (SST) Growth Trends by Region
2.2.1 Global Solid State Transformers (SST) Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Solid State Transformers (SST) Historic Market Size by Region (2019-2024)
2.2.3 Solid State Transformers (SST) Forecasted Market Size by Region (2025-2030)
2.3 Solid State Transformers (SST) Market Dynamics
2.3.1 Solid State Transformers (SST) Industry Trends
2.3.2 Solid State Transformers (SST) Market Drivers
2.3.3 Solid State Transformers (SST) Market Challenges
2.3.4 Solid State Transformers (SST) Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Solid State Transformers (SST) Players by Revenue
3.1.1 Global Top Solid State Transformers (SST) Players by Revenue (2019-2024)
3.1.2 Global Solid State Transformers (SST) Revenue Market Share by Players (2019-2024)
3.2 Global Solid State Transformers (SST) Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Solid State Transformers (SST) Revenue
3.4 Global Solid State Transformers (SST) Market Concentration Ratio
3.4.1 Global Solid State Transformers (SST) Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Solid State Transformers (SST) Revenue in 2023
3.5 Solid State Transformers (SST) Key Players Head office and Area Served
3.6 Key Players Solid State Transformers (SST) Product Solution and Service
3.7 Date of Enter into Solid State Transformers (SST) Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Solid State Transformers (SST) Breakdown Data by Type
4.1 Global Solid State Transformers (SST) Historic Market Size by Type (2019-2024)
4.2 Global Solid State Transformers (SST) Forecasted Market Size by Type (2025-2030)
5 Solid State Transformers (SST) Breakdown Data by Application
5.1 Global Solid State Transformers (SST) Historic Market Size by Application (2019-2024)
5.2 Global Solid State Transformers (SST) Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Solid State Transformers (SST) Market Size (2019-2030)
6.2 North America Solid State Transformers (SST) Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Solid State Transformers (SST) Market Size by Country (2019-2024)
6.4 North America Solid State Transformers (SST) Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Solid State Transformers (SST) Market Size (2019-2030)
7.2 Europe Solid State Transformers (SST) Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Solid State Transformers (SST) Market Size by Country (2019-2024)
7.4 Europe Solid State Transformers (SST) Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Solid State Transformers (SST) Market Size (2019-2030)
8.2 Asia-Pacific Solid State Transformers (SST) Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Solid State Transformers (SST) Market Size by Region (2019-2024)
8.4 Asia-Pacific Solid State Transformers (SST) Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Solid State Transformers (SST) Market Size (2019-2030)
9.2 Latin America Solid State Transformers (SST) Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Solid State Transformers (SST) Market Size by Country (2019-2024)
9.4 Latin America Solid State Transformers (SST) Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Solid State Transformers (SST) Market Size (2019-2030)
10.2 Middle East & Africa Solid State Transformers (SST) Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Solid State Transformers (SST) Market Size by Country (2019-2024)
10.4 Middle East & Africa Solid State Transformers (SST) Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 ABB
11.1.1 ABB Company Detail
11.1.2 ABB Business Overview
11.1.3 ABB Solid State Transformers (SST) Introduction
11.1.4 ABB Revenue in Solid State Transformers (SST) Business (2019-2024)
11.1.5 ABB Recent Development
11.2 Siemens
11.2.1 Siemens Company Detail
11.2.2 Siemens Business Overview
11.2.3 Siemens Solid State Transformers (SST) Introduction
11.2.4 Siemens Revenue in Solid State Transformers (SST) Business (2019-2024)
11.2.5 Siemens Recent Development
11.3 General electric
11.3.1 General electric Company Detail
11.3.2 General electric Business Overview
11.3.3 General electric Solid State Transformers (SST) Introduction
11.3.4 General electric Revenue in Solid State Transformers (SST) Business (2019-2024)
11.3.5 General electric Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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