A market analysis report published by Market Research Report Store shows the forecast of Solid State Transformers Market for the year 2019-2025 give a competitive advantage to the clients. Power electric transformer is also known as Solid State Transformers is a device used to combine high frequency to provide electricity to static electrical equipment. Solid State Transformers offers many advantages over traditional transformer the key feature of this transformer is the achievement of the original power. The Solid State Transformer can improve the power quality and improve the stability of the system.
Based on the use, Solid State Transformers are divided into several types which include, Smart Grid, EV Charging, Traction Locomotives, Alternative Power Generation and Others. The Solid State Transformers are also divided based on the type of transformers which includes Single-stage, Two-stage, and Three-stage. The demand for Solid State Transformers will increase due to its need in Traction locomotive, Alternative power generation and charging station for the electric vehicles.
Currently, most active regions developing solid-state transformers are North America and Europe. The leading manufacturers of solid-state transformers in these regions are ABB, Siemens, GE, and others. Europe holds the largest market share which is followed by the North American and the Asia Pacific. Europe is turning toward renewable sources of energy. It is the largest market for an electric vehicle which requires charging station and solid-state transformers are an important part of charging stations.
The market has a huge potential of solid state transformers but it will not replace traditional transformers without need. Solid-state transformers are not replacing the traditional transformers but rather work alongside it to provide support to eco-friendly devices and makes the electrical system better.