Product Code: GVR-2-68038-274-7
Solid State Transformers Market Growth & Trends:
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, according to a new report by Grand View Research, Inc. 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
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