(PRWEB) October 28, 2013
According to the market research report “Solid State (Smart) Transformer Market by Application (Smart Grid, Traction Locomotives, Electric Vehicle Charging Stations, Others), Component (Switches, High frequency Transformers, Converters, Others) & Geography - Global Forecast & Analysis (2012 - 2020)”, the total solid state transformers applications market is expected to reach $ 5,043.39 million at a CAGR of 82.3% from 2012 to 2020.
Browse 92 tables spread through 228 pages and in-depth TOC on “Solid State Transformer Market”.
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Solid state transformers are mainly made up of power electronics-based components, also known as power devices. These devices are used to convert the characteristics (magnitude or frequency of voltage and current) of electric power to match or befit a particular application. Thus, they work on the basis of interdisciplinary technology. Power electronics has reduced the size of solid state transformers significantly.
The market segmentation revolves around the four major market parameters, namely components, applications, technology, and geography. Solid state transformers are being developed for some special applications like power grids, traction locomotives, electric charging stations, and others.
Commercialization for SST is low at present. However, it will take off within the next two years.
With the new generation of solid-state transformers still being developed by a range of companies, it is likely that we will see them rolling out in just a few years as part of pilot programs and trials. However, in the long term, those in the industry are confident about solid-state transformers to be a significant piece of the smart grid puzzle.
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