North America Solid State Transformer Market: Jsb Market Research

North America Solid State Transformer (SST) Market By Application, by Product, by Component, and by Geography– Analysis and Forecast to 2020

Released On 23rd December 2015

Solid state (smart) transformers have application in several fields, such as traction locomotive, power distribution, electric vehicle charging station, alternative power generation, and many others. The others application segment includes power supply and distribution systems in shipping and aviation applications. The solid state transformer market for the alternative power generation application is expected to grow at the highest CAGR of 24.70% from 2017 to 2020.

 The North America Solid State Transformer Market is primarily driven by increasing emphasis on alternative energy production across the region. Alternative energy from solar, wind, tidal, and other sources is being adopted across the world. Another important factor driving the solid state transformer market is the huge investments in smart grids and energy systems. The development and implementation of smart grids across many countries offer a huge opportunity for the solid state transformer market.

 The North America solid state transformer market is estimated to be valued at USD 17.53 million by 2017, growing at a CAGR of 22.55% from 2017 to 2020. 

 The North America solid state transformer market has been segmented on the basis of three categories, namely, country, application, and product. By product, the market has been further segmented into distribution, traction, and power. The distribution segment market, under the product category, is expected to account for the largest share of 90.2% of the North America solid state transformer market by 2017.

 The geographical analysis of the North America solid state (smart) transformer market includes major countries of the region, namely, as the U.S., Canada, and Mexico. The U.S. solid state (smart) transformer market is expected to dominate the North American...