Solid-State Transformer Market Research With Size, Growth, Manufacturers, Segments And Forecasts Research

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“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.

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Global Solid-State Transformer Market: APAC to record highest CAGR from 2024 to 2030

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“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.

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Solid-State Transformer Market - Which Companies to Register Huge Gains, Key Players - Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), etc..

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“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.

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Solid-state Transformer Market for renewable power generation application is expected to grow at highest CAGR

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“Solid-state transformer market for renewable power generation application is expected to grow at highest CAGR during forecast period”

The market for renewable power generation application is expected to capture the highest CAGR during the forecast period. The high growth rate can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“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.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

How is the solid-state transformer market segment? by voltage level, applications , and region.

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

This research report segments the solid-state transformer market based on voltage level, application, and geography.

By Voltage Level:

• HV/MV
• MV/LV

By Application

• Renewable Power Generation
  • Wind Power
  • Solar Power
  • Tidal Power
• Automotive
• Power Grids
• Traction Locomotives
• Others

By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • Japan
  • India
  • Rest of APAC
• Rest of the World (RoW)
  • Middle East and Africa
  • South America

“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.

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Solid-State Transformer Market: Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“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.

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

What is the total CAGR expected to be recorded for solid-state transformer market during 2024-2030?

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“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.

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Solid-State Transformer Market by Application renewable power generation segment to grow at highest rate

 The solid-state transformer market size is expected to grow from USD 100 million in 2024 to USD 241 million by 2030 at a CAGR of 15.8% from 2024 to 2030. Growing alternative energy, and increasing investments in smart grids and energy systems are some of the major factors driving the growth of the solid-state transformer market.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

“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.

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Who are the significant players expected to operate in solid-state transformer market?

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“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.

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Which are the drivers and opportunities influencing the growth of the solid-state transformer market?

 According to the new market research report on the "Solid-State Transformer Market by Voltage Level (HV/MV, MV/LV), Application (Renewable Power Generation, Automotive, Power Grids, Traction Locomotives, and Others), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2030", 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.

Growing alternative energy sector are the drivers influencing the growth of solid-state transformer market.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

“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.

“Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030”

The growth of the renewable power generation segment of the solid-state transformer market can be attributed to the expected early adoption of these transformers for power generation from wind, solar, and tidal energy. Wind, sun, and tides are alternative sources of energy for power generation; they have the potential to cater to the ever-increasing global requirement of energy, along with reducing the carbon footprint. Wind energy is a key contributor to the power generated from the alternative sources of energy, while APAC is a leader in this field. A typical wind energy farm has an induction generator coupled with a wind turbine to convert mechanical energy to electrical energy. The energy generated is further transferred by a step-up transformer to STATCOMs. It is then fed to a grid. The step-up transformer increases the voltage level, while the STATCOM improves the power factor of the electricity generated. Though conventional systems (step-up transformers and STATCOMs) are cost-effective solutions, solid-state transformers can be instrumental in playing the role of both step-up transformers and STATCOMs with improved reactive power compensation. This, in turn, is expected to lead to increased use of solid-state transformers for wind energy production.

“APAC to record highest CAGR from 2024 to 2030”

APAC is expected to hold the largest share of the solid-state transformer market and is estimated to witness the highest rate during the forecast period. The planned investments in energy infrastructure and technology by various APAC countries and the growth of the wind power market are likely to offer significant growth opportunities to the solid-state transformer market. China and India are the frontier markets for solid-state transformers in the APAC region, and the steady growth of renewable energy and electric vehicle charging infrastructure in these countries post-COVID-19 is expected to fuel the high growth rate of the solid-state transformer market in this region.

Major players involved in the solid-state transformer market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US).

Don’t miss out on business opportunities in Solid-State Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Mobile Substations: A Time-Saving Solution and Emerging Market

The mobile substation market is expected to grow from an estimated USD 789.3 Million in 2018 to USD 1,136.9 Million by 2023, at a CAGR of 7.57% between 2018 and 2023. Factors driving the growth of this market include the ease of transportation, flexibility, cost-effectiveness, and easy installation of mobile substations. Moreover, mobile substation is a trailer mounted power solution and can be installed in a limited space and can be easily relocated without difficulty. The mobile substation is a comprehensive solution that is designed, engineered, assembled on trailer, tested, in a factory and delivered on site for power distribution.

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Mobile substations are useful for emergency response as back-up units and can also be useful in cases where energy distribution requires to be provided or reinstated in a short span of time. Mobile substation market is fragmented, with the presence of many small and mid-size companies which supply products for utilities applications and primarily serve local markets. Transportability, short startup and commissioning time, reduced mechanical footprint, and non-requirement of construction work are some of the key benefits expected to drive the growth of mobile substations during the forecast period.

Mobile substations are utilized both, in utilities and industrial applications.  Planned maintenance, disaster response, rapid expansion of transmission capacity are some uses wherein the mobile substation has delivered proven outcome for utilities. The mobile substation is proven to be an apt solution to provide temporary power supply during unplanned repairs. Moreover, during planned maintenance, mobile substations can reduce or even eliminate the need for extended electricity outages. Thus the utilities application is expected to grow during the forecast period.

Middle East & Africa not only account for the largest market share followed by the Americas, but is also expected to grow at the highest CAGR during the forecast period. Middle East & Africa regions are rich in natural resources, such as oil & gas and metals & mining. Africa is an untapped market for the energy resources. However, countries from these regions, such as Iraq, Algeria, Nigeria have faced many political and social instabilities which have destroyed infrastructure. As a result, these countries have a high demand for energy & power. Due to improvements in situations, governments from these regions are trying to reinstall basic amenities. The Ministry of Electricity of Iraq has ordered mobile substations from various manufacturers, such as Siemens  (Germany), Meidensha (Japan), CG Power (India), and Aktif (Turkey).

Maintenance is one of the key restraining factors for the mobile substation market as failure may critically affect the operation of various applications. Also, the transportation norms setup by different regional authorities may be a challenge for players. For the US, the Department of Transportation (DOT) has made certain rules and regulations for the transportation of heavy electrical equipment.

Key players in this market, such as Siemens (Germany), ABB (Switzerland), Eaton (Ireland), General Electric (US), CG Power (India), and MEIDENSHA (Japan) are focusing on inorganic strategies, such as contracts to enhance their product offerings and expand their businesses.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 

Leading Players insights on the Mobile Substation Market: Siemens (Germany) and General Electric (GE)

The mobile substation market is expected to grow from an estimated USD 789.3 Million in 2018 to USD 1,136.9 Million by 2023, at a CAGR of 7.57% between 2018 and 2023. The mobile substation is also known as portable substation or compact power house. The mobile substation is a considerably cost-effective and time-saving solution than the full-fledged power substation built on-site. For instance, in areas where the resource availability (in term of product, manpower, and space) is limited for a typical on-site substation, a mobile substation is the best solution to offset these hindrances. Key players in this market are Siemens (Germany), ABB (Switzerland), Eaton (Ireland), General Electric (US), CG Power (India), and MEIDENSHA (Japan).

Siemens (Germany) is one of the pioneering technology providers for the industrial, manufacturing, and power utilities sectors. The company possesses diversified product portfolio along with an extensive geographic footprint. The company has expertise in developing various electrical products and solutions which include switchgears, transformers, bus bar trucking systems, and other equipment. Thus, backward integration helps the company to gain competitive advantages in the mobile substation market. Recently in 2016, Siemens received a contract from the South Korean company, LSIS to provide 10 power transformers for mobile substations in Iraq. The total value of this contract was around USD 5 million.  Moreover, Siemens signed a contract with National Grid SA, which is a transmission operator of Saudi Electricity Co. Under this contract, Siemens is expected to deliver 2 high voltage mobile substations for the utilities application in Saudi Arabia.

General Electric (GE) offers mobile substations for various applications. GE is a multinational conglomerate company. It focuses on inorganic strategies, such as geographical expansions. Recently, in November 2017, General Electric signed a contract of worth USD 40 million with Iraq.  Under this contract, General Electric is expected to develop Iraq’s power infrastructure. GE has supplied mobile substations for various projects which include utilities and industrial applications. GE has supplied mobile substations to various end users in Spain for utilities applications, such as Gas Natural Fenosa, E.ON, and Iberdrola. 

ABB (Switzerland), Powell Industries (US), WEG (Brazil), TGOOD (Hong Kong), NARI Group (China), Aktif Group (Turkey), Delta Star (US), Atlas Electric (US), Matelec Group (Lebanon), Unit Electrical Engineering (UEE) (Canada), and Efacec (Portugal), among the others contribute significantly to the mobile substation market. Contracts was the key strategy adopted by various players in the mobile substation market. 

About MarketsandMarkets™

 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Mobile substation market in the Middle East & Africa to grow at the highest CAGR

The mobile substation market was valued at USD 742.4 Million in 2017 and is expected to reach USD 1,136.9 Million by 2023, at a CAGR of 7.57% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.

The objective of the report is to provide a detailed analysis of the mobile substation market based on application and region. The study also covers qualitative information of various components used in a mobile substation. The report provides detailed information regarding the major factors influencing the growth of the mobile substation market. The report also gives a detailed overview of the value chain in the ecosystem of the mobile substation and analyzes the market trends based on the competitive leadership analysis.

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Middle East & Africa not only account for the largest market share followed by the Americas but is also expected to grow at the highest CAGR during the forecast period. Rapid electrification in Africa along with demand from the metals & mining industry in Africa is expected to drive the growth of the global mobile substation market.

Politically unstable situations in Middle East countries, such as Iraq, are reducing day by day and the government is making efforts to provide basic amenities. As a part of this, in 2017 the Ministry of Electricity, Iraq ordered 12 mobile substations for its utilities. This increase in power supply due to the installation of new substations are expected to overcome power shortage issues in Iraq. Moreover, in 2014 Ministry of Electricity, Iraq ordered 16 mobile substations from CG Power (India). 

These substations are expected to be deployed throughout Iraq for utilities and industries to provide interim grid connections and temporary power supplies. Recently, in 2017 the Aktif Group delivered 10 mobile substations to the Ministry of Electricity Iraq. Countries such as Angola, Algeria, Mozambique, and Libya, among others are also leading to the high demand for mobile substations.

Market for utilities application expected to grow at higher CAGR during the forecast period

Mobile substations can be useful for emergency response as back-up units and are also useful in cases where the energy distribution requires to be provided or reinstated in a short span of time. Mobile substations are utilized in both, utilities and industrial applications.  Planned maintenance, disaster response, rapid expansion of transmission capacity are some use cases where mobile substations have delivered proven outcomes for utilities. Mobile substations are used to provide temporary power supply during unplanned repairs. Moreover, in the times of planned maintenance, mobile substations can reduce or even eliminate the need for extended electricity outages.

Various companies, including Siemens, General Electric, Eaton, and MEIDENSHA provide mobile substations to the utility industry. For instance, in 2017 Siemens delivered 2 mobile substations for National Grid SA, the transmission operator of Saudi Electricity Co. Siemens is expected to design 2, 380kV mobile substations with transformer rating of 502 MVA each. General Electric supplied several mobile substations in the utility sector including for Saudi Electricity Company from Saudi Arabia and E.ON SE electric project in Spain.

Key players in this market are Siemens (Germany), ABB (Switzerland), Eaton (Ireland), General Electric (US), CG Power (India), and MEIDENSHA (Japan). Other companies covered in this report are WEG (Brazil), AZZ (US), TGOOD (Hong Kong), Powell Industries (US), Elgin Power Solutions (US), Matelec Group (Lebanon), Aktif Group (Turkey), PME Power Solutions (India), EKOS Group (Turkey), Efacec (Portugal), and Delta Star (US).

About MarketsandMarkets™

 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Traction Transformer (Onboard) complete Market overview by 2022

The liberalization in the rail transport market, increasing government funding, and the growing environmental concerns are the driving factors for the growth of the traction transformer market​. The traction transformer market was valued at USD 528.0 Million in 2015 and is expected to grow at a CAGR of 4.6% between 2016 and 2022. The base year considered for study is 2015 and the forecast period is considered for the period between 2016 and 2022. The objective of the report is to provide a detailed analysis of the traction transformer market based on rolling stock, mounting position, overhead line voltage, and geography. The report provides detailed information regarding the major factors influencing the growth of the traction transformer market. The report also gives a detailed overview of the value chain of the traction transformer market and analyzes the market trends on the basis of the Porter's five forces analysis.

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The research methodology used to estimate and forecast the traction transformer market begins with obtaining data on key vendor revenues through secondary research such as Association of the European Railway Industry (UNIFE), International Union of Public Transport (UITP), International Union of Railways (UIC),  Railway Industry Association (FIF), Community of European Railway & Infrastructure Companies (CER), Railway Industry Association (RIA), National Association of Railway Transport (ANTF) (U.S.), and leading players’ annual reports and whitepapers. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global traction transformer market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews of people holding key positions in the industry such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries has been depicted in the figure given below.

The traction transformer market for electric locomotives is expected to hold a large share of the overall market and is also expected to grow at the highest rate between 2016 and 2022. The growth of the market is driven by the rising population, growing demand for rail transportation, and increasing preference for moving goods by rail over road transportation.

The traction transformer market for underframe mounting is expected to lead the overall market in 2016 because of the increased space for passenger capacity and improved comfort level of passengers. The market for machine room mounting is expected to grow at a high rate between 2016 and 2022. Machine room mounting plays an integral role for providing maximum flexibility and reliability in single and multiphase rail systems.

APAC is expected to hold the largest share of the traction transformer market during the forecast period. Countries such as China, Japan, India, South Korea, Taiwan, and Australia are majorly driving the growth of the traction transformer market in Asia-Pacific. These countries are increasing the number of trains for reliable transportation. Further, the increasing investment in high-speed rail network, development of new lines, and expansion of existing rail networks are driving the demand for traction transformers in APAC.

North America is expected to be the fastest-growing market for traction transformers between 2016 and 2022. The major driving factors for the growth of the market in North America include rapid industrialization and modernization, government funding and support in the U.S. for the development and implementation of high-speed trains and metros in the country, and improvement in rail infrastructure.

The key restraining factors for the growth of the traction transformer market include the high cost incurred for the electrification of rail network and the dominance of diesel-powered rail engines in certain countries such as the U.K., Taiwan, Mexico, and Brazil, among others.

The key market players such as ABB Ltd. (Switzerland) and Alstom SA (France) are focusing on strategies such as contracts and new product launches to provide the best possible services to their customers and expand their business globally.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Siemens (Germany) and General Electric (GE) are the Leading Players in the Mobile Substation Market

The mobile substation market is expected to grow from an estimated USD 789.3 Million in 2018 to USD 1,136.9 Million by 2023, at a CAGR of 7.57% between 2018 and 2023. The mobile substation is also known as portable substation or compact power house. The mobile substation is a considerably cost-effective and time-saving solution than the full-fledged power substation built on-site. For instance, in areas where the resource availability (in term of product, manpower, and space) is limited for a typical on-site substation, a mobile substation is the best solution to offset these hindrances. Key players in this market are Siemens (Germany), ABB (Switzerland), Eaton (Ireland), General Electric (US), CG Power (India), and MEIDENSHA (Japan).

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Siemens (Germany) is one of the pioneering technology providers for the industrial, manufacturing, and power utilities sectors. The company possesses diversified product portfolio along with an extensive geographic footprint. The company has expertise in developing various electrical products and solutions which include switchgears, transformers, bus bar trucking systems, and other equipment. Thus, backward integration helps the company to gain competitive advantages in the mobile substation market. Recently in 2016, Siemens received a contract from the South Korean company, LSIS to provide 10 power transformers for mobile substations in Iraq. The total value of this contract was around USD 5 million.  Moreover, Siemens signed a contract with National Grid SA, which is a transmission operator of Saudi Electricity Co. Under this contract, Siemens is expected to deliver 2 high voltage mobile substations for the utilities application in Saudi Arabia.

General Electric (GE) offers mobile substations for various applications. GE is a multinational conglomerate company. It focuses on inorganic strategies, such as geographical expansions. Recently, in November 2017, General Electric signed a contract of worth USD 40 million with Iraq.  Under this contract, General Electric is expected to develop Iraq’s power infrastructure. GE has supplied mobile substations for various projects which include utilities and industrial applications. GE has supplied mobile substations to various end users in Spain for utilities applications, such as Gas Natural Fenosa, E.ON, and Iberdrola. 

ABB (Switzerland), Powell Industries (US), WEG (Brazil), TGOOD (Hong Kong), NARI Group (China), Aktif Group (Turkey), Delta Star (US), Atlas Electric (US), Matelec Group (Lebanon), Unit Electrical Engineering (UEE) (Canada), and Efacec (Portugal), among the others contribute significantly to the mobile substation market. Contracts was the key strategy adopted by various players in the mobile substation market. 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Mr. Shelly Singh
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