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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 solid-state transformer market are growing alternative energy sector, and increasing investments in smart grids and energy systems.
Market for HV/MV to account for larger market share during forecast period.
The HV/MV segment is expected to continue to hold a larger market size during the forecast period. 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 outbreak and the spread of the COVID-19 have also impacted the growth of the solid-state transformer market globally. It is expected to witness a forward push from 2024 onward.
$241 Million Solid-State Transformer Markets, 2025 – Market for HV/MV to Account for the Largest Market Share – Padovanews padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.