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Solid State Transformer Market by Product, Application, & Geography - Forecast to 2020NEW YORK, Sept. 1, 2015 /PRNewswire/ -- A solid state transformer is a multistage device which typically comprises input stage, high-frequency transformer, and output stage. The output stage can be configured as per the need and verities of loads; therefore, it provides the output in either form of current (AC and DC). This feature eliminates the need of additional AC to DC converter and thus reduces the cost of the system. Though the cost of a solid state transformer is higher than their rational counterpart, it is expected that the deployment of a solid state transformer in an electricity distribution network would increase the overall system efficiency by 8%–10%. Many companies and research institutions have invested in development and testing of solid state transformers for various applications. For example, in 2011, ABB Ltd. (Switzerland) has a solid state transformer for the traction locomotives application, named as power electronics traction transformer (PETT). However, it is expected that a solid state transformer would be commercialized by 2017. The global market for solid state (smart) transformer is expected to grow at a CAGR of 24.72% from 2017 to 2020. Europe is expected to continue to lead the market and is the hub for several transformer manufacturing and energy management companies which are anticipated to venture in this market. Moreover, the solid state transformer market in the North American and Asia-Pacific regions is also expected to gain a significant traction during the forecast period. The growth of renewable energy installation capacity and increasing installation of electric vehicle charging points, especially in the U.S. Japan, and China, is expected to accelerate the solid state transformer market in the said regions. This solid state transformer market report includes the detailed analysis of market dynamics, Porter's Five Forces model, value chain, competitive landscape, and market scenario for the forecast period. The market has been segmented and forecast based on product, application, and geography. The report profiles the key players in the solid state transformer market with their respective market share analysis. The prominent players profiled in this report include ABB Ltd. (Switzerland), General Electric Co. (U.S.), Alstom SA (France), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Schneider Electric SE (France), Cooper Power Systems (Brazil), Varentec, Inc., (U.S.) Amantys Limited (U.K.), and GridBridge (U.S.). Read the full report: http://www.reportlinker.com/p03095779-summary/view-report.html About Reportlinker ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - instantly, in one place. http://www.reportlinker.com __________________________ To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/solid-state-transformer-market-by-product-application--geography---forecast-to-2020-300136437.html SOURCE Reportlinker |