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North America Solid State Transformer Market report

11/16/2015

 Ireland, Dublin: Research and Markets has announced the addition of the "North America Solid State Transformer (SST) Market by Application, by Product, by Component, and by Geography - Analysis and Forecast to 2020" report to their offering.

According to the report, 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, reports Business Wire.

The North America solid state transformer market is primarily driven by increasing emphasis on alternative energy production across the region. Another important factor driving the solid state transformer market is the huge investments in smart grids and energy systems.

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 U.S. solid state (smart) transformer market is expected to dominate the North American market by 2017 with an estimated share of 90% of the total market, followed by Canada at 7%.

The major players operational in the North America solid state transformer market are ABB, Schneider Electric, Siemens, Mitsubishi Electric Corporation, General Electric, and Alstom SA. These companies adopted various developmental strategies, such as mergers & acquisitions and partnership, among others to achieve growth in the North America solid state (smart) transformer market.

Source: Business Wire