The Global
Distribution Solid State Transformer market is expected to grow from
USD 53.93 Million in 2019 to USD 229.27 Million 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.
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Increasing
preference for renewable energy source and emerging markets for renewable
sources are the drivers for distribution solid state market. It is becoming
increasingly popular for electric utilities to support decarbonisation. The
utility companies are driven by surging electricity demand while also
responding to customer concerns about the environment. In addition to
electrifying areas with wind and solar that are not currently electrified, the
focus is on carbon reduction in power and transportation (e.g., electric cars,
trucks, buses, ports), heating and cooling, industrial process and the building
sector. Some utilities have already started decarbonization to comply with the
Clean Power Plan, and others are jumping on board. Automating the distribution
of electricity from substations to consumers is the opportunity that drive the
market in forecasting period.
The market has
been segmented on the basic of type, application and region. Type segment
includes converters, switches, high frequency transformers and others. Converter
segment held largest market share of 46.35% and valued at USD 21.03 Million in
2019. Due to access use of converters in manufacturing of distribution solid
state transformer. Application segment includes alternative power generation,
electric vehicle charging stations, traction locomotives, power distribution
and others. Alternative power generation segment held the second largest market
share of 29.01%and valued at USD 15.65 million in 2019. As 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. In addition to
electrifying areas with wind and solar that are not currently electrified, the
focus is on carbon reduction in power and transportation. The market has been
divided into 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.
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The major companies for global distribution solid state transformer market are ABB, General Electric, Siemens AG and Schneider Electric. ABB India plans expansion of factories to cater to railways demands. ABB India is expanding its factories to cater to the requirements of Railways because the Railways is expanding a lot. They (Railways) are spending a lot especially on the electrical side. (In) electrical locomotives, a lot of technology is demanded that demand is really picking up.
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