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Global Solid-State Transformer Market

Solid-State Transformer Market is projected to reach $467.0 million in 2031, following a CAGR of 14.34% during the forecast period 2026-2031. Solid-State Transformer Industry is in the research and development phase.<br>Read Report Overview: https://bisresearch.com/industry-report/solid-state-transformer-market.html<br>Get Free Sample: https://bisresearch.com/requestsample?id=1387&type=download

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Global Solid-State Transformer Market

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  1. Solid-State Transformer Market– A Global and Regional Analysis Table of Content https://unsplash.com/photos/EA45-AXlvWk Focus on Product, Application, and Solid-State Transformer Market Country-Wise Analysis Analysis and Forecast: 2025-2031 October 2022 1 All rights reserved at BIS Research Inc.

  2. BIS Research is a leading market intelligence and technology research company. BIS Research publishes in- depth market intelligence reports focusing on the market estimations, technology analysis, emerging high- growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management. BIS Research provides multi-client reports, company profiles, databases, and custom research services. Solid-State Transformer Market Copyright © 2022 BIS Research Inc. All Rights Reserved. This document contains highly confidential information and is the sole property of BIS Research. Disclosing, copying, circulating, quoting or otherwise reproducing any or all contents of this document is strictly prohibited. Access to this information is provided exclusively for the benefit of the people or organization concerned. It may not be accessed by or offered whether for sale or otherwise to any third party. 2 All rights reserved at BIS Research Inc.

  3. Table of Content Executive Summary .......................................................................... 26 Scope of the Study ........................................................................... 33 1 Markets ..................................................................................... 35 1.1 Industry Outlook .............................................................................................. 36 1.1.1Market Definition ......................................................................................... 36 1.1.2Comparison between Solid-State Transformer and Conventional Transformer and Importance of Solid-State Transformer ........................ 37 1.1.3Market Trends .............................................................................................. 37 1.1.3.1 Sustainable Development Goals in Energy Industry ......................................... 37 1.1.4Supply Chain Analysis ................................................................................ 38 1.1.5Ongoing Programs ...................................................................................... 39 1.1.5.1 Governments Initiatives ..................................................................................... 39 1.1.5.2 R&D Projects ..................................................................................................... 40 1.1.5.2.1FREEDM System Center – A Step toward Solid-State Transformer Commercialization ................................................................................................... 40 1.1.5.2.1.1Project 1: To Develop H8 AC-DC Three-Level Converter ................................ 40 1.1.5.2.1.2Project 2: To Develop SiC Resonant Converter for (SST) in EV Charging Application. .............................................................................................................. 41 1.1.5.2.1.3Project 3: To Develop and Test a 1MVA Extreme Fast Charger Station using Wide Bandgap Devices (Funded by the U.S. Department of Energy) .......... 41 1.1.5.2.1.4Project 4: Mobile Utility Support Equipment - Solid-State Transformer (MUSE) enabled by HV 10kV SiC MOSFET ........................................................... 42 1.1.5.2.2Highly Efficient and Reliable Smart Transformer (HEART), Funded by European Research Council (2014-2019) .............................................................. 42 Solid-State Transformer Market 1.1.5.3 Consortiums and Associations .......................................................................... 43 1.2 Business Dynamics ......................................................................................... 45 1.2.1Business Drivers ......................................................................................... 45 1.2.1.1 Increase in Renewable Power Generation ........................................................ 45 3 All rights reserved at BIS Research Inc.

  4. 1.2.1.2 Rise in Number of Electric Vehicle Charging Stations ....................................... 46 1.2.1.3 Electrification of Rail Locomotives across the Globe ......................................... 47 1.2.1.4 High Voltage DC (HVDC) Integration ................................................................ 48 1.2.2Business Challenges .................................................................................. 49 1.2.2.1 High Initial Cost of Solid-State Transformer ...................................................... 49 1.2.2.2 Technical Challenges ........................................................................................ 49 1.2.2.3 Lack of Basic Power Infrastructure in Underdeveloped Countries .................... 50 1.2.3Business Strategies .................................................................................... 50 1.2.3.1 Product Development and Innovation ................................................................ 51 1.2.3.2 Market Development .......................................................................................... 52 1.2.4Corporate Strategies ................................................................................... 53 1.2.4.1 Acquisition ......................................................................................................... 53 1.2.4.2 Partnership and Collaboration ........................................................................... 54 1.2.4.3 Others ................................................................................................................ 55 1.2.5Business Opportunities .............................................................................. 56 1.2.5.1 Rise in Government Initiatives toward Development of Smart Grid Infrastructure ...................................................................................................... 56 1.2.5.2 Rapid Developments in The Power Electronics Industry ................................... 57 1.2.6Impact of COVID-19 on the Global Solid-State Transformer market ....... 57 2 Application ................................................................................ 59 2.1 Global Solid-State Transformer market (by Application) ............................. 60 2.1.1Smart Grid .................................................................................................... 60 2.1.2Renewable Power Integration .................................................................... 61 Solid-State Transformer Market 2.1.3Traction Locomotive ................................................................................... 62 2.1.4EV Charging Station .................................................................................... 62 2.1.5Others ........................................................................................................... 63 2.2 Demand Analysis of the Global Solid-State Transformer market (by Application) ...................................................................................................... 64 4 All rights reserved at BIS Research Inc.

  5. 3 Product type .............................................................................. 65 3.1 Global Solid-State Transformer Market (by Product Type) .......................... 66 3.1.1Power Transformer ...................................................................................... 66 3.1.2Distribution Transformer ............................................................................ 66 3.1.3Traction Transformer .................................................................................. 67 3.2 Demand Analysis of the Global Solid-State Transformer Market (by Product Type) ................................................................................................... 68 3.3 Components Used in the Solid-State Transformers ..................................... 69 3.3.1Converters ................................................................................................... 69 3.3.2High-Frequency Transformer ..................................................................... 69 3.3.3Others ........................................................................................................... 70 3.3.4Patent Analysis ............................................................................................ 70 3.3.4.1 Patent Analysis (by Applicant) ........................................................................... 72 3.3.4.2 Patents Analysis (by Region) ............................................................................. 72 4 Region ....................................................................................... 74 4.1 North America .................................................................................................. 77 4.1.1Market ........................................................................................................... 77 4.1.1.1 Key Transformer Manufacturers in North America ............................................ 77 4.1.1.2 Business Drivers ................................................................................................ 77 4.1.1.3 Business Challenges ......................................................................................... 78 4.1.2Application ................................................................................................... 78 4.1.2.1 North America Solid-State Transformer Market (by Application) ....................... 78 Solid-State Transformer Market 4.1.3Product Type ............................................................................................... 78 4.1.3.1 North America Solid-State Transformer Market (by Product Type) ................... 78 4.1.4 4.1.4North America (by Country) ....................................................................... 79 4.1.4.1 U.S. .................................................................................................................... 79 4.1.4.1.1Market ...................................................................................................................... 79 4.1.4.1.1.1Buyer Attributes ................................................................................................ 79 5 All rights reserved at BIS Research Inc.

  6. 4.1.4.1.1.2Key Manufacturers in the U.S. .......................................................................... 80 4.1.4.1.1.3Business Challenges ........................................................................................ 80 4.1.4.1.1.4Business Drivers ............................................................................................... 80 4.1.4.1.2Product Type ............................................................................................................ 80 4.1.4.1.2.1U.S. Solid-State Transformer Market (by Product Type) .................................. 80 4.1.4.1.3Application ................................................................................................................ 81 4.1.4.1.3.1U.S. Solid-State Transformer Market (by Application) ..................................... 81 4.1.4.2 Canada .............................................................................................................. 81 4.1.4.2.1Market ...................................................................................................................... 82 4.1.4.2.1.1Buyer Attributes ................................................................................................ 82 4.1.4.2.1.2Key Manufacturers in Canada .......................................................................... 82 4.1.4.2.1.3Business Challenges ........................................................................................ 82 4.1.4.2.1.4Business Drivers ............................................................................................... 82 4.1.4.2.2Product Type ............................................................................................................ 83 4.1.4.2.2.1Canada Solid-State Transformer Market (by Product Type) ............................ 83 4.1.4.2.3Application ................................................................................................................ 83 4.1.4.2.3.1Canada Solid-State Transformer Market (by Application) ................................ 83 4.1.4.3 Mexico ............................................................................................................... 83 4.1.4.3.1Market ...................................................................................................................... 84 4.1.4.3.1.1Buyer Attributes ................................................................................................ 84 4.1.4.3.1.2Key Manufacturers in Mexico ........................................................................... 84 4.1.4.3.1.3Business Challenges ........................................................................................ 84 4.1.4.3.1.4Business Drivers ............................................................................................... 85 4.1.4.3.2Product type ............................................................................................................. 85 4.1.4.3.2.1Mexico Solid-State Transformer Market (by Product Type) ............................. 85 Solid-State Transformer Market 4.1.4.3.3Application ................................................................................................................ 85 4.1.4.3.3.1Mexico Solid-State Transformer Market (by Application) ................................. 85 4.2 South America ................................................................................................. 87 4.2.1Market ........................................................................................................... 87 4.2.1.1 Key Manufacturers in South America ................................................................ 87 4.2.1.2 Business Drivers ................................................................................................ 87 6 All rights reserved at BIS Research Inc.

  7. 4.2.1.3 Business Challenges ......................................................................................... 87 4.2.2Application ................................................................................................... 88 4.2.2.1 South America Solid-State Transformer Market (by Application) ...................... 88 4.2.3Product Type ............................................................................................... 88 4.2.3.1 South America Solid-State Transformer Market (by Product Type) .................. 88 4.2.4South America (by Country) ....................................................................... 89 4.2.4.1 Brazil .................................................................................................................. 89 4.2.4.1.1Market ...................................................................................................................... 90 4.2.4.1.1.1Buyer Attributes ................................................................................................ 90 4.2.4.1.1.2Key Manufacturers in Brazil .............................................................................. 90 4.2.4.1.1.3Business Challenges ........................................................................................ 90 4.2.4.1.1.4Business Drivers ............................................................................................... 90 4.2.4.1.2Product Type ............................................................................................................ 91 4.2.4.1.2.1Brazil Solid-State Transformer Market (by Product Type) ................................ 91 4.2.4.1.3Application ................................................................................................................ 91 4.2.4.1.3.1Brazil Solid-State Transformer Market (by Application) ................................... 91 4.2.4.2 Rest-of-South America ...................................................................................... 91 4.2.4.2.1Market ...................................................................................................................... 92 4.2.4.2.1.1Buyer Attributes ................................................................................................ 92 4.2.4.2.1.2Key Manufacturers in the Rest-of-South America ............................................ 92 4.2.4.2.1.3Business Challenges ........................................................................................ 92 4.2.4.2.1.4Business Drivers ............................................................................................... 92 4.2.4.2.2Product Type ............................................................................................................ 93 4.2.4.2.2.1Rest-of-South America Solid-State Transformer Market (by Product Type) ....................................................................................................................... 93 Solid-State Transformer Market 4.2.4.2.3Application ................................................................................................................ 93 4.2.4.2.3.1Rest-of-South America Solid-State Transformer Market (by Application) ........ 93 4.3 Europe .............................................................................................................. 95 4.3.1Market ........................................................................................................... 95 4.3.1.1 Key Manufacturers in Europe ............................................................................ 95 7 All rights reserved at BIS Research Inc.

  8. 4.3.1.2 Business Drivers ................................................................................................ 95 4.3.1.3 Business Challenges ......................................................................................... 95 4.3.2Application ................................................................................................... 96 4.3.2.1 Europe Solid-State Transformer Market (by Application) .................................. 96 4.3.3Product Type ............................................................................................... 96 4.3.3.1 Europe Solid-State Transformer Market (by Product Type) .............................. 96 4.3.4Europe (by Country) .................................................................................... 97 4.3.4.1 Germany ............................................................................................................ 97 4.3.4.1.1Market ...................................................................................................................... 97 4.3.4.1.1.1Buyer Attributes ................................................................................................ 97 4.3.4.1.1.2Key Manufacturers in Germany ........................................................................ 98 4.3.4.1.1.3Business Challenges ........................................................................................ 98 4.3.4.1.1.4Business Drivers ............................................................................................... 98 4.3.4.1.2Product Type ............................................................................................................ 99 4.3.4.1.2.1Germany Solid-State Transformer Market (by Product Type) .......................... 99 4.3.4.1.3Application ................................................................................................................ 99 4.3.4.1.3.1Germany Solid-State Transformer Market (by Application) .............................. 99 4.3.4.2 France ................................................................................................................ 99 4.3.4.2.1Market .................................................................................................................... 100 4.3.4.2.1.1Buyer Attributes .............................................................................................. 100 4.3.4.2.1.2Key Manufacturers in France ......................................................................... 100 4.3.4.2.1.3Business Challenges ...................................................................................... 100 4.3.4.2.1.4Business Drivers ............................................................................................. 100 4.3.4.2.2Product Type .......................................................................................................... 101 Solid-State Transformer Market 4.3.4.2.2.1France Solid-State Transformer Market (by Product Type) ........................... 101 4.3.4.2.3Application .............................................................................................................. 101 4.3.4.2.3.1France Solid-State Transformer Market (by Application) ............................... 101 4.3.4.3 Italy .................................................................................................................. 101 4.3.4.3.1Market .................................................................................................................... 102 4.3.4.3.1.1Buyer Attributes .............................................................................................. 102 8 All rights reserved at BIS Research Inc.

  9. 4.3.4.3.1.2Key Manufacturers in Italy .............................................................................. 102 4.3.4.3.1.3Business Challenges ...................................................................................... 102 4.3.4.3.1.4Business Drivers ............................................................................................. 102 4.3.4.3.2Product Type .......................................................................................................... 103 4.3.4.3.2.1Italy Solid-State Transformer Market (by Product Type) ................................ 103 4.3.4.3.3Application .............................................................................................................. 103 4.3.4.3.3.1Italy Solid-State Transformer Market (by Application) .................................... 103 4.3.4.4 Spain ................................................................................................................ 103 4.3.4.4.1Market .................................................................................................................... 104 4.3.4.4.1.1Buyer Attributes .............................................................................................. 104 4.3.4.4.1.2Key Manufacturers in Spain ........................................................................... 104 4.3.4.4.1.3Business Challenges ...................................................................................... 104 4.3.4.4.1.4Business Drivers ............................................................................................. 104 4.3.4.4.2Product Type .......................................................................................................... 105 4.3.4.4.2.1Spain Solid-State Transformer Market (by Product Type) ............................. 105 4.3.4.4.3Application .............................................................................................................. 105 4.3.4.4.3.1Spain Solid-State Transformer Market (by Application) ................................. 105 4.3.4.5 Rest-of-Europe ................................................................................................ 105 4.3.4.5.1Market .................................................................................................................... 106 4.3.4.5.1.1Buyer Attributes .............................................................................................. 106 4.3.4.5.1.2Key Manufacturers in the Rest-of-Europe ...................................................... 106 4.3.4.5.1.3Business Challenges ...................................................................................... 106 4.3.4.5.1.4Business Drivers ............................................................................................. 106 4.3.4.5.2Product Type .......................................................................................................... 107 4.3.4.5.2.1Rest-of-Europe Solid-State Transformer Market (by Product Type) .............. 107 Solid-State Transformer Market 4.3.4.5.3Application .............................................................................................................. 107 4.3.4.5.3.1Rest-of-Europe Solid-State Transformer Market (by Application) .................. 107 4.4 U.K. ................................................................................................................. 109 4.4.1Market ......................................................................................................... 109 4.4.1.1 Buyer Attributes ............................................................................................... 109 4.4.1.2 Key Manufacturers in the U.K. ......................................................................... 109 9 All rights reserved at BIS Research Inc.

  10. 4.4.1.3 Business Challenges ....................................................................................... 110 4.4.1.4 Business Drivers .............................................................................................. 110 4.4.2Application ................................................................................................. 110 4.4.2.1 U.K. Solid-State Transformer Market (by Application) ..................................... 110 4.4.3Product Type ............................................................................................. 111 4.4.3.1 U.K. Solid-State Transformer Market (by Product Type) ................................. 111 4.5 Middle East and Africa .................................................................................. 113 4.5.1Market ......................................................................................................... 113 4.5.1.1 Key Manufacturers in the Middle East and Africa ............................................ 113 4.5.1.2 Business Drivers .............................................................................................. 113 4.5.1.3 Business Challenges ....................................................................................... 113 4.5.2Application ................................................................................................. 114 4.5.2.1 Middle East and Africa Solid-State Transformer Market (by Application) ........ 114 4.5.3Product Type ............................................................................................. 114 4.5.3.1 Middle East and Africa Solid-State Transformer Market (by Product Type) .... 114 4.5.4Middle East and Africa (by Country) ........................................................ 115 4.5.4.1 Saudi Arabia .................................................................................................... 115 4.5.4.1.1Market .................................................................................................................... 115 4.5.4.1.1.1Buyer Attributes .............................................................................................. 115 4.5.4.1.1.2Key Manufacturers in the Saudi Arabia .......................................................... 116 4.5.4.1.1.3Business Challenges ...................................................................................... 116 4.5.4.1.1.4Business Drivers ............................................................................................. 116 4.5.4.1.2Product Type .......................................................................................................... 116 Solid-State Transformer Market 4.5.4.1.2.1Saudi Arabia Solid-State Transformer Market (by Product Type) .................. 116 4.5.4.1.3Application .............................................................................................................. 117 4.5.4.1.3.1Saudi Arabia Solid-State Transformer Market (by Application) ...................... 117 4.5.4.2 South Africa ..................................................................................................... 117 4.5.4.2.1Market .................................................................................................................... 117 4.5.4.2.1.1Buyer Attributes .............................................................................................. 117 10 All rights reserved at BIS Research Inc.

  11. 4.5.4.2.1.2Key Manufacturers in South Africa ................................................................. 117 4.5.4.2.1.3Business Challenges ...................................................................................... 118 4.5.4.2.1.4Business Drivers ............................................................................................. 118 4.5.4.2.2Product Type .......................................................................................................... 118 4.5.4.2.2.1South Africa Solid-State Transformer Market (by Product Type) ................... 118 4.5.4.2.3Application .............................................................................................................. 119 4.5.4.2.3.1South Africa Solid-State Transformer Market (by Application) ....................... 119 4.5.4.3 Rest-of-Middle East and Africa ........................................................................ 119 4.5.4.3.1Market .................................................................................................................... 119 4.5.4.3.1.1Buyer Attributes .............................................................................................. 119 4.5.4.3.1.2Key Manufacturers in the Rest-of-Middle East and Africa .............................. 119 4.5.4.3.1.3Business Challenges ...................................................................................... 120 4.5.4.3.1.4Business Drivers ............................................................................................. 120 4.5.4.3.2Product Type .......................................................................................................... 120 4.5.4.3.2.1Rest-of-Middle East and Africa Solid-State Transformer Market (by Product Type) ........................................................................................................ 120 4.5.4.3.3Application .............................................................................................................. 121 4.5.4.3.3.1Rest-of-Middle East and Africa Solid-State Transformer Market (by Application) ............................................................................................................ 121 4.6 China ............................................................................................................... 123 4.6.1Market ......................................................................................................... 123 4.6.1.1 Buyer Attributes ............................................................................................... 123 4.6.1.2 Key Manufacturers in China ............................................................................ 123 4.6.1.3 Business Challenges ....................................................................................... 123 4.6.1.4 Business Drivers .............................................................................................. 124 Solid-State Transformer Market 4.6.2Application ................................................................................................. 124 4.6.2.1 China Solid-State Transformer Market (by Application) .................................. 124 4.6.3Product Type ............................................................................................. 124 4.6.3.1 China Solid-State Transformer Market (by Product Type) ............................... 124 4.7 Asia-Pacific .................................................................................................... 126 11 All rights reserved at BIS Research Inc.

  12. 4.7.1Market ......................................................................................................... 126 4.7.1.1 Key Manufacturers in Asia-Pacific ................................................................... 126 4.7.1.2 Business Drivers .............................................................................................. 126 4.7.1.3 Business Challenges ....................................................................................... 126 4.7.2Application ................................................................................................. 127 4.7.2.1 Asia-Pacific Solid-State Transformer Market (by Application) ......................... 127 4.7.3Product Type ............................................................................................. 127 4.7.3.1 Asia-Pacific Solid-state transformer market (by Product Type) ....................... 127 4.7.4Asia-Pacific (by Country) .......................................................................... 128 4.7.4.1 Japan ............................................................................................................... 128 4.7.4.1.1Market .................................................................................................................... 128 4.7.4.1.1.1Buyer Attributes .............................................................................................. 128 4.7.4.1.1.2Key Manufacturers in Japan ........................................................................... 129 4.7.4.1.1.3Business Challenges ...................................................................................... 129 4.7.4.1.1.4Business Drivers ............................................................................................. 129 4.7.4.1.2Product Type .......................................................................................................... 129 4.7.4.1.2.1Japan Solid-State Transformer Market (by Product Type) ............................. 129 4.7.4.1.3Application .............................................................................................................. 130 4.7.4.1.3.1Japan Solid-State Transformer Market (by Application) ................................. 130 4.7.4.2 India ................................................................................................................. 130 4.7.4.2.1Market .................................................................................................................... 130 4.7.4.2.1.1Buyer Attributes .............................................................................................. 130 4.7.4.2.1.2Key Manufacturers in India ............................................................................. 131 4.7.4.2.1.3Business Challenges ...................................................................................... 131 Solid-State Transformer Market 4.7.4.2.1.4Business Drivers ............................................................................................. 131 4.7.4.2.2Product Type .......................................................................................................... 131 4.7.4.2.2.1India Solid-State Transformer Market (by Product Type) ............................... 131 4.7.4.2.3Application .............................................................................................................. 132 4.7.4.2.3.1India Solid-State Transformer Market (by Application) ................................... 132 4.7.4.3 South Korea ..................................................................................................... 132 12 All rights reserved at BIS Research Inc.

  13. 4.7.4.3.1Market .................................................................................................................... 132 4.7.4.3.1.1Buyer Attributes .............................................................................................. 132 4.7.4.3.1.2Key Manufacturers in South Korea ................................................................. 133 4.7.4.3.1.3Business Challenges ...................................................................................... 133 4.7.4.3.1.4Business Drivers ............................................................................................. 133 4.7.4.3.2Product Type .......................................................................................................... 133 4.7.4.3.2.1South Korea Solid-State Transformer Market (by Product Type)................... 133 4.7.4.3.3Application .............................................................................................................. 134 4.7.4.3.3.1South Korea Solid-State Transformer Market (by Application) ...................... 134 4.7.4.4 Australia ........................................................................................................... 134 4.7.4.4.1Market .................................................................................................................... 134 4.7.4.4.1.1Buyer Attributes .............................................................................................. 134 4.7.4.4.1.2Key Manufacturers in Australia ....................................................................... 135 4.7.4.4.1.3Business Challenges ...................................................................................... 135 4.7.4.4.1.4Business Drivers ............................................................................................. 135 4.7.4.4.2Product Type .......................................................................................................... 135 4.7.4.4.2.1Australia Solid-State Transformer Market (by Product Type) ......................... 135 4.7.4.4.3Application .............................................................................................................. 136 4.7.4.4.3.1Australia Solid-State Transformer Market (by Application) ............................ 136 4.7.4.5 Rest-of-Asia-Pacific ......................................................................................... 136 4.7.4.5.1Market .................................................................................................................... 136 4.7.4.5.1.1Buyer Attributes .............................................................................................. 136 4.7.4.5.1.2Key Manufacturers in the Rest-of-Asia-Pacific ............................................... 137 4.7.4.5.1.3Business Challenges ...................................................................................... 137 4.7.4.5.1.4Business Drivers ............................................................................................. 137 Solid-State Transformer Market 4.7.4.5.2Product Type .......................................................................................................... 137 4.7.4.5.2.1Rest-of-Asia-Pacific Solid-State Transformer Market (by Product Type) ....... 137 4.7.4.5.3Application .............................................................................................................. 138 4.7.4.5.3.1Rest-of-Asia-Pacific Solid-State Transformer Market (by Application) ........... 138 5 Markets - Competitive Benchmarking & Company Profiles ....... 139 5.1 Competitive Benchmarking .......................................................................... 140 13 All rights reserved at BIS Research Inc.

  14. 5.2 Company Profiles .......................................................................................... 143 5.2.1Siemens Energy ........................................................................................ 143 5.2.1.1 Company Overview ......................................................................................... 143 5.2.1.2 Role of Siemens Energy in the Solid-State Transformer Market ..................... 143 5.2.1.3 Product Portfolio .............................................................................................. 144 5.2.1.4 Business Model of Siemens Energy ................................................................ 144 5.2.1.5 Business Strategies ......................................................................................... 145 5.2.1.5.1Market Developments ............................................................................................ 145 5.2.1.5.2Product Developments ........................................................................................... 146 5.2.1.6 Corporate Strategies ........................................................................................ 146 5.2.1.6.1Agreement, Joint Ventures, Collaborations, and Alliances .................................... 146 5.2.1.7 R&D Analysis ................................................................................................... 146 5.2.1.8 Analyst View .................................................................................................... 147 5.2.2Alstom SA .................................................................................................. 148 5.2.2.1 Company Overview ......................................................................................... 148 5.2.2.2 Role of Alstom SA in the Solid-State Transformer Industry ............................. 148 5.2.2.3 Product Portfolio .............................................................................................. 148 5.2.2.4 Business Model of Alstom SA .......................................................................... 149 5.2.2.5 Business Strategies ......................................................................................... 150 5.2.2.5.1Market Developments ............................................................................................ 150 5.2.2.6 Corporate Strategies ........................................................................................ 150 5.2.2.6.1Investment .............................................................................................................. 150 5.2.2.7 R&D Analysis ................................................................................................... 150 5.2.2.8 Analyst View .................................................................................................... 151 Solid-State Transformer Market 5.2.3Eaton Corporation ..................................................................................... 152 5.2.3.1 Company Overview ......................................................................................... 152 5.2.3.2 Role of Eaton Corporation in the Solid-State Transformer Industry ................ 152 5.2.3.3 Product Portfolio .............................................................................................. 153 5.2.3.4 Business Model of Eaton Corporation ............................................................. 153 14 All rights reserved at BIS Research Inc.

  15. 5.2.3.5 Corporate Strategies ........................................................................................ 154 5.2.3.5.1Agreement .............................................................................................................. 154 5.2.3.5.2Acquisitions ............................................................................................................ 155 5.2.3.6 R&D Analysis ................................................................................................... 155 5.2.3.7 Analyst View .................................................................................................... 156 5.2.4Hitachi Energy Ltd. .................................................................................... 157 5.2.4.1 Company Overview ......................................................................................... 157 5.2.4.2 Role of Hitachi Energy Ltd. in the Solid-State Transformer Industry ............... 157 5.2.4.3 Product Portfolio .............................................................................................. 158 5.2.4.4 Business Model of Hitachi Energy Ltd. ............................................................ 158 5.2.4.5 Corporate Strategies ........................................................................................ 159 5.2.4.5.1Agreement and Collaboration ................................................................................ 159 5.2.4.5.2Merger and Acquisitions ........................................................................................ 160 5.2.4.6 R&D Analysis ................................................................................................... 160 5.2.4.7 Analyst View .................................................................................................... 161 5.2.5Schneider Electric ..................................................................................... 162 5.2.5.1 Company Overview ......................................................................................... 162 5.2.5.2 Role of Schneider Electric in the Solid-State Transformer Industry ................. 162 5.2.5.3 Product Portfolio .............................................................................................. 163 5.2.5.4 Business Model of Schneider Electric ............................................................. 163 5.2.5.5 Business Strategies ......................................................................................... 164 5.2.5.5.1Product Developments ........................................................................................... 164 5.2.5.6 Corporate Strategies ........................................................................................ 165 5.2.5.6.1Acquisition .............................................................................................................. 165 Solid-State Transformer Market 5.2.5.7 R&D Analysis ................................................................................................... 165 5.2.5.8 Analyst View .................................................................................................... 166 5.2.6Electric Research and Manufacturing Cooperative (ERMCO), Inc. ....... 167 5.2.6.1 Company Overview ......................................................................................... 167 5.2.6.2 Role of ERMCO, Inc. in the Solid-State Transformer Industry ........................ 167 15 All rights reserved at BIS Research Inc.

  16. 5.2.6.3 Product Portfolio .............................................................................................. 168 5.2.6.4 Business Model of ERMCO, Inc. ..................................................................... 168 5.2.6.5 Business Strategies ......................................................................................... 169 5.2.6.5.1Market Developments ............................................................................................ 169 5.2.6.6 Corporate Strategies ........................................................................................ 169 5.2.6.6.1Agreement, Partnership, Joint Ventures, Collaborations, and Alliances ............... 169 5.2.6.6.2Merger and Acquisitions ........................................................................................ 169 5.2.6.7 Analyst View .................................................................................................... 170 5.2.7Murata Manufacturing Co., Ltd. ................................................................ 171 5.2.7.1 Company Overview ......................................................................................... 171 5.2.7.2 Role of Murata Manufacturing Co., Ltd. in the Solid-State Transformer Industry ............................................................................................................ 171 5.2.7.3 Product Portfolio .............................................................................................. 172 5.2.7.4 Business Model of Murata Manufacturing Co., Ltd. ......................................... 172 5.2.7.5 Business Strategies ......................................................................................... 173 5.2.7.5.1Product Developments ........................................................................................... 173 5.2.7.6 R&D Analysis ................................................................................................... 173 5.2.7.7 Analyst View .................................................................................................... 174 5.2.8Standex International Corporation ........................................................... 175 5.2.8.1 Company Overview ......................................................................................... 175 5.2.8.2 Role of Standex International Corporation in the Solid-State Transformer Industry ............................................................................................................ 175 5.2.8.3 Product Portfolio .............................................................................................. 176 5.2.8.4 Business Model of Standex International Corporation ..................................... 176 Solid-State Transformer Market 5.2.8.5 Corporate Strategies ........................................................................................ 177 5.2.8.5.1Acquisition .............................................................................................................. 177 5.2.8.6 R&D Analysis ................................................................................................... 177 5.2.8.7 Analyst View .................................................................................................... 178 5.2.9Wilson Transformers ................................................................................. 179 5.2.9.1 Company Overview ......................................................................................... 179 16 All rights reserved at BIS Research Inc.

  17. 5.2.9.2 Role of Wilson Transformers in the Solid-State Transformer Industry ............ 179 5.2.9.3 Product Portfolio .............................................................................................. 179 5.2.9.4 Business Model of Wilson Transformers ......................................................... 180 5.2.9.5 Analyst View .................................................................................................... 180 5.2.10General Electric ......................................................................................... 181 5.2.10.1 Company Overview ......................................................................................... 181 5.2.10.2 Role of General Electric in the Solid-State Transformer Industry .................... 181 5.2.10.3 Product Portfolio .............................................................................................. 182 5.2.10.4 Business Model of General Electric ................................................................. 182 5.2.10.5 Corporate Strategies ........................................................................................ 183 5.2.10.5.1Merger and Acquisitions ........................................................................................ 183 5.2.10.6 R&D Analysis ................................................................................................... 183 5.2.10.7 Analyst View .................................................................................................... 184 5.2.11American Superconductor ....................................................................... 185 5.2.11.1 Company Overview ......................................................................................... 185 5.2.11.2 Role of American Superconductor in the Solid-State Transformer Industry .... 185 5.2.11.3 Product Portfolio .............................................................................................. 185 5.2.11.4 Business Model of American Superconductor ................................................. 186 5.2.11.5 Corporate Strategies ........................................................................................ 187 5.2.11.5.1Acquisition .............................................................................................................. 187 5.2.11.6 R&D Analysis ................................................................................................... 187 5.2.11.7 Analyst View .................................................................................................... 188 5.2.12CG Power & Industrial Solutions Ltd. ...................................................... 189 Solid-State Transformer Market 5.2.12.1 Company Overview ......................................................................................... 189 5.2.12.2 Role of CG Power & Industrial Solutions Ltd. in the Solid-State Transformer Industry ............................................................................................................ 189 5.2.12.3 Product Portfolio .............................................................................................. 190 5.2.12.4 Business Model of CG Power & Industrial Solutions Ltd. ................................ 190 5.2.12.5 R&D Analysis ................................................................................................... 191 17 All rights reserved at BIS Research Inc.

  18. 5.2.12.6 Analyst View .................................................................................................... 192 5.2.13IONATE Limited ......................................................................................... 193 5.2.13.1 Company Overview ......................................................................................... 193 5.2.13.2 Role of IONATE Limited in the Solid-State Transformer Industry .................... 193 5.2.13.3 Product Portfolio .............................................................................................. 193 5.2.13.4 Analyst View .................................................................................................... 194 5.2.14Raychem RPG Private Limited ................................................................. 195 5.2.14.1 Company Overview ......................................................................................... 195 5.2.14.2 Role of Raychem RPG Private Limited in the Solid-State Transformer Industry ............................................................................................................ 195 5.2.14.3 Product Portfolio .............................................................................................. 196 5.2.14.4 Analyst View .................................................................................................... 196 5.2.15Shree Abirami Engineering Works ........................................................... 197 5.2.15.1 Company Overview ......................................................................................... 197 5.2.15.2 Role of Shree Abirami Engineering Works in the Solid-State Transformer Industry ............................................................................................................ 197 5.2.15.3 Product Portfolio .............................................................................................. 197 5.2.15.4 Analyst View .................................................................................................... 198 5.2.16Southwest Electric Co. .............................................................................. 199 5.2.16.1 Company Overview ......................................................................................... 199 5.2.16.2 Role of Southwest Electric Co. in the Solid-State Transformer Industry ......... 199 5.2.16.3 Product Portfolio .............................................................................................. 199 5.2.16.4 Analyst View .................................................................................................... 200 5.2.17Unimag Power Transformer ..................................................................... 201 Solid-State Transformer Market 5.2.17.1 Company Overview ......................................................................................... 201 5.2.17.2 Role of Unimag Power Transformer in the Solid-State Transformer Industry ............................................................................................................ 201 5.2.17.3 Product Portfolio .............................................................................................. 202 5.2.17.4 Analyst View .................................................................................................... 202 18 All rights reserved at BIS Research Inc.

  19. 5.2.18Bicron Electronics Company ................................................................... 203 5.2.18.1 Company Overview ......................................................................................... 203 5.2.18.2 Role of Bicron Electronics Company in the Solid-State Transformer Industry ............................................................................................................ 203 5.2.18.3 Product Portfolio .............................................................................................. 203 5.2.18.4 Analyst View .................................................................................................... 204 5.2.19PowerUC .................................................................................................... 205 5.2.19.1 Company Overview ......................................................................................... 205 5.2.19.2 Role of PowerUC in the Solid-State Transformer Industry .............................. 205 5.2.19.3 Product Portfolio .............................................................................................. 205 5.2.19.4 Analyst View .................................................................................................... 205 5.2.20SVM Private Limited .................................................................................. 206 5.2.20.1 Company Overview ......................................................................................... 206 5.2.20.2 Role of SVM Private Limited in the Solid-State Transformer Industry ............. 206 5.2.20.3 Product Portfolio .............................................................................................. 206 5.2.20.4 Analyst View .................................................................................................... 207 6 Research Methodology ............................................................ 208 Solid-State Transformer Market 19 All rights reserved at BIS Research Inc.

  20. List of Figures Figure 1:Global Solid-State Transformer Market, $Million, 2025-2031 Figure 2:Market Dynamics of the Global Solid-State Transformer Market Figure 3:Global Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Figure 4:Global Solid-State Transformer Market (by Application), $Million, 2025-2031 Figure 5:Global Solid-State Transformer Market (by Region), $Million, 2025-2031 Figure 6:Global Solid-State Transformer Market Coverage Figure 7:Supply Chain Analysis of Global Solid-State Transformer Market Figure 8:Global Solar Power Generation (TWh), 2011-2021 Figure 9:Share of Key Market Strategies and Developments, January 2018-December 2021 Figure 10:Solid-State Transformer Patent Trend, January 2013-December 2021 Figure 11:Patent Analysis (by Applicant), January 2013-December 2021 Figure 12:Patents Analysis (by Region), January 2013-December 2021 Figure 13:Competitive Benchmarking Matrix Figure 14:R&D Expenses of Siemens Energy, 2019-2021 Figure 15:R&D Expenses of Alstom SA, 2019-2021 Figure 16:R&D Expenses of Eaton Corporation, 2019-2021 Figure 17:R&D Expenses of Hitachi Energy Ltd., 2018-2020 Figure 18:R&D Expenses of Schneider Electric, 2019-2021 Figure 19:R&D Expenses of Murata Manufacturing Co., Ltd., 2019-2021 Figure 20:R&D Expenses of Standex International Corporation, 2019-2021 Figure 21:R&D Expenses of General Electric, 2019-2021 Figure 22:R&D Expenses of American Superconductor, 2019-2021 Figure 23:R&D Expenses of CG Power & Industrial Solutions Ltd., 2019-2021 Figure 24:Global Solid-State Transformer Market: Research Methodology Figure 25:Top-Down and Bottom-Up Approach Solid-State Transformer Market 20 All rights reserved at BIS Research Inc.

  21. List of Tables Table 1:Key Consortiums and Associations in Solid-State Transformer Industry Table 2:Business Strategies: Product Developments and Innovations Table 3:Business Strategies: Business Expansions Table 4:Corporate Strategies: Acquisitions Table 5:Corporate Strategies: Partnership and Collaboration Table 6:Corporate Strategies: Others (Agreement and Investment) Table 7:Global Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 8:Global Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 9:Global Solid-State Transformer Market (by Region), $Million, 2025-2031 Table 10:North America Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 11:North America Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 12:North America Solid-State Transformer Market (by Country), $Million, 2025-2031 Table 13:U.S. Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 14:U.S. Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 15:Canada Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 16:Canada Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 17:Mexico Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 18:Mexico Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 19:South America Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 20:South America Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 21:South America Solid-State Transformer Market (by Country), $Million, 2025-2031 Table 22:Brazil Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 23:Brazil Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 24:Rest-of-South America Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 25:Rest-of-South America Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 26:Europe Solid-State Transformer Market (by Application), $Million, 2025-2031 Solid-State Transformer Market Table 27:Europe Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 28:Europe Solid-State Transformer Market (by Country), $Million, 2025-2031 Table 29:Germany Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 30:Germany Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 31:France Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 32:France Solid-State Transformer Market (by Application), $Million, 2025-2031 21 All rights reserved at BIS Research Inc.

  22. Table 33:Italy Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 34:Italy Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 35:Spain Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 36:Spain Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 37:Rest-of-Europe Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 38:Rest-of-Europe Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 39:U.K. Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 40:U.K. Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 41:Middle East and Africa Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 42:Middle East and Africa Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 43:Middle East and Africa Solid-State Transformer Market (by Country), $Million, 2025-2031 Table 44:Saudi Arabia Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 45:Saudi Arabia Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 46:South Africa Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 47:South Africa Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 48:Rest-of-Middle East and Africa Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 49:Rest-of-Middle East and Africa Solid-State Transformer Market (by Application), $Million, 2025- 2031 Table 50:China Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 51:China Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 52:Asia-Pacific Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 53:Asia-Pacific Solid-state transformer market (by Product Type), $Million, 2025-2031 Table 54:Asia-Pacific Solid-State Transformer Market (by Country), $Million, 2025-2031 Table 55:Japan Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 56:Japan Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 57:India Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 58:India Solid-State Transformer Market (by Application), $Million, 2025-2031 Solid-State Transformer Market Table 59:South Korea Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 60:South Korea Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 61:Australia Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 62:Australia Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 63:Rest-of-Asia-Pacific Solid-State Transformer Market (by Product Type), $Million, 2025-2031 Table 64:Rest-of-Asia-Pacific Solid-State Transformer Market (by Application), $Million, 2025-2031 Table 65:Siemens Energy: Product Portfolio 22 All rights reserved at BIS Research Inc.

  23. Table 66:Siemens Energy: Business Model Analysis Table 67:Siemens Energy: Market Developments Table 68:Siemens Energy: Product Developments Table 69:Siemens Energy: Agreement Table 70:Alstom SA: Product Portfolio Table 71:Alstom SA: Business Model Analysis Table 72:Alstom SA: Market Developments Table 73:Alstom SA: Investment Table 74:Eaton Corporation: Product Portfolio Table 75:Eaton Corporation: Business Model Analysis Table 76:Eaton Corporation: Agreement Table 77:Eaton Corporation: Acquisitions Table 78:Hitachi Energy Ltd.: Product Portfolio Table 79:Hitachi Energy Ltd.: Business Model Analysis Table 80:Hitachi Energy Ltd.: Agreement and Collaborations Table 81:Hitachi Energy Ltd.: Mergers and Acquisitions Table 82:Schneider Electric: Product Portfolio Table 83:Schneider Electric: Business Model Analysis Table 84:Schneider Electric: Product Developments Table 85:Schneider Electric: Acquisition Table 86:ERMCO, Inc.: Product Portfolio Table 87:ERMCO, Inc.: Business Model Analysis Table 88:ERMCO, Inc.: Market Developments Table 89:ERMCO, Inc.: Partnerships, Joint Ventures, Collaborations, and Alliances Table 90:ERMCO, Inc.: Mergers and Acquisitions Table 91:Murata Manufacturing Co., Ltd.: Product Portfolio Table 92:Murata Manufacturing Co., Ltd.: Business Model Analysis Table 93:Murata Manufacturing Co., Ltd.: Product Developments Solid-State Transformer Market Table 94:Standex International Corporation: Product Portfolio Table 95:Standex International Corporation: Business Model Analysis Table 96:Standex International Corporation: Acquisition Table 97:Wilson Transformers: Product Portfolio Table 98:Wilson Transformers: Business Model Analysis Table 99:General Electric: Product Portfolio 23 All rights reserved at BIS Research Inc.

  24. Table 100:General Electric: Business Model Analysis Table 101:General Electric: Mergers and Acquisitions Table 102:American Superconductor: Product Portfolio Table 103:American Superconductor: Business Model Analysis Table 104:American Superconductor: Acquisition Table 105:CG Power & Industrial Solutions Ltd.: Product Portfolio Table 106:CG Power & Industrial Solutions Ltd.: Business Model Analysis Table 107:IONATE Limited: Product Portfolio Table 108:Raychem RPG Private Limited: Product Portfolio Table 109:Shree Abirami Engineering Works: Product Portfolio Table 110:Southwest Electric Co.: Product Portfolio Table 111:Unimag Power Transformer: Product Portfolio Table 112:Bicron Electronics Company: Product Portfolio Table 113:PowerUC: Product Portfolio Table 114:SVM Private Limited: Product Portfolio Solid-State Transformer Market 24 All rights reserved at BIS Research Inc.

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