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Strategies for Market Entry and Expansion in the Solid-State Transformer Market

The Solid State Transformer Market Size, Analysis, Trends, & Forecasts. The Global market for Solid State Transformer categorized by Voltage Level, Application, Size and Geography.

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Strategies for Market Entry and Expansion in the Solid-State Transformer Market

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  1. MarketsandMarkets Presents 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.

  2. MarketsandMarkets Presents 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. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=774

  3. MarketsandMarkets Presents 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. Speak To Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=774

  4. MarketsandMarkets Presents Application-wise, renewable power generation segment to grow at highest rate from 2024 to 2030 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.

  5. MarketsandMarkets Presents 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.

  6. MarketsandMarkets Presents Key Players Major Players involved in the Solid-State Transformer Market include Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US). Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/solid-state- transformer-market-774.html

  7. MarketsandMarkets Presents About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

  8. MarketsandMarkets Presents Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com Content Source: https://www.marketsandmarkets.com/PressReleases/solid- transformer.asp

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