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Solid State (Smart) Transformer Market is expected to reach $5,043.39 million at a CAGR of 82.3% by 2020 - New Report by MarketsandMarkets
Date:2/23/2013

fficiency, high power quality, high flexibility, and low maintenance cost.

The market segmentation revolves around the four major market parameters, namely components, applications, technology, and geography. Solid state transformers are being developed for some special applications like power grids, traction locomotives, electric charging stations, and others. The most notable application of solid state transformers is distribution system in the power grid.

Solid State Transformer has a very niche market. Solid State Transformer has high potential on the distribution side of electricity transmission. The distribution of solid state transformer market is in introductory phase, and expected to witness exponential growth in the next 2 to 3 years. Traction transformer offers a great market opportunity to the solid state transformers. It has already been tested successfully in a couple of places in Europe and U.S. As such, in near future, SST would be used in traction transformers on a major scale.

Commercialization for SST is low at present. However, it will take off within the next two years.

With the new generation of solid-state transformers still being developed by a range of companies, it is likely that we will see them rolling out in just a few years as part of pilot programs and trials. However, in the long term, those in the industry are confident about solid-state transformers to be a significant piece of the smart grid puzzle.

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