Attractive market of Solid State Transformer

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MarketsandMarkets Presents
Solid State Transformer Market worth 204.3
Million by 2020
http//www.marketsandmarkets.com/Market-Reports/so
lid-state-transformer-market-774.html
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• According to a new market research report on
  the Solid State Transformer Market by Product
  (Power, traction, Distribution), Application
  (Alternative power generation, Electric vehicle
  charging stations, others), Geography (North
  America, Europe, Asia-Pacific, RoW) - Forecast
  to 2020 The global solid state transformer
  market is expected to be valued at 105.3 Million
  in 2017 and is estimated to reach 204.3 Million
  by 2020, at an estimated CAGR of 24.72 from 2017
  to 2020.
• Browse 75 market data tables and 56 figures
  spread through 145 pages and in-depth TOC on
  Solid State Transformer Market - Forecast to
  2020"http//www.marketsandmarkets.com/Market-Repo
  rts/solid-state-transformer-market-774.htmlEarly
  buyers will receive 10 customization on reports.

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• A solid state transformer is a device which
  offers various benefits, along with performing
  the core task of a traditional transformer.
  Reactive power compensation, dual-power output
  (both AC and DC), and communication capabilities
  are some key benefits offered by a solid state
  transformer. Many companies and research
  institutions are doing research in this area and
  testing prototypes to befit them into a
  particular application. It is expected that the
  solid state transformer market would be
  commercialized by 2017 and exhibit impressive
  growth rate in the coming years.
• The alternative power generation segment is
  expected to constitute as the largest application
  for the solid state transformer market in 2017
  and is also expected to grow at the highest rate
  during the forecast period. Wind energy, solar
  energy, and tidal energy are the key areas under
  alternative power generation where solid state
  transformers are expected to be used. A solid
  state transformer is a lightweight and compact
  product compared to a traditional transformer,
  and this makes it more suitable product for
  offshore uses and this feature helps to keep the
  overall weight of the platform as low as
  possible. Furthermore, a solid state transformer
  improves the quality of power output from the
  wind turbine and eliminates the need of STATCOM
  in this process.

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• Europe would be the largest market for the solid
  state transformer in 2017, and it is also
  expected to be the fastest-growing region,
  followed by North America which is also among the
  major regions that plays a significant role in
  the growth of the solid state transformer market.
  The growth of the solid state transformer market
  in North America would be largely driven by the
  U.S., which is expected to account for 90 of the
  total North American solid state transformer
  market in 2017. The Asia-Pacific market for solid
  state transformers is expected to be driven by
  Japan and China.
• The report describes market dynamics that include
  the key drivers, restraints, challenges, and
  opportunities with respect to the solid state
  transformer market and forecasts the market till
  2020. This global report provides a detailed view
  of the solid state transformer market across
  products, applications, and geographies. The
  report also profiles the prominent players in the
  solid state transformer market, along with their
  key growth strategies. The competitive landscape
  of the market analyzes a large number of players
  with their market share. The solid state
  transformer market is witnessing numerous
  collaborations and partnerships across the value
  chain, to cater to various industries in
  different geographies. The major companies in
  the global solid state transformer market that
  have been included in this report are ABB Ltd.
  (Switzerland), Siemens AG (Germany), Alstom SA
  (France), and others.

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