Semiconductor and Electronic Survey

“Voltage level-wise, HV/MV segment expected to capture larger market size of overall Solid-State Transformer Market in 2024“ The HV/MV segment is expected to account for the larger share of the Global Solid-State Transformer Market in 2024. The growth of the HV/MV segment of the  Solid-State Transformer Market  can be attributed to the increased adoption of these transformers in renewable power generation applications. The typical applications of HV/MV solid-state transformers are offshore wind turbines with HVDC/MVAC configurations. HV/MV solid-state transformers with these configurations have a lower weight/volume ratio than passive transformers, making them cost-effective. Moreover, they are easier to replace and have a lower cost of transportation than standard HV transformers. Key Players Major Players involved in the Solid-State Transformer Market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), ...

The   Solid-State Transformer Market   Size is expected to grow from USD 100 million in 2024 to USD 241 million by 2030 it is expected to grow at a CAGR of 15.8% from 2024 to 2030. The key factors driving the growth of the market include growing alternative energy sector, increasing investments in smart grids and energy systems. “Voltage level-wise, HV/MV segment expected to capture larger market size of overall Solid-State Transformer Market in 2024“ The HV/MV segment is expected to account for the larger share of the Global Solid-State Transformer Market in 2024. The growth of the HV/MV segment of the Solid-State Transformer Market can be attributed to the increased adoption of these transformers in renewable power generation applications. The typical applications of HV/MV solid-state transformers are offshore wind turbines with HVDC/MVAC configurations. HV/MV solid-state transformers with these configurations have a lower weight/volume ratio than passive transformers, makin...