Global Solid State Transformers (SST) Market Growth (Status and Outlook) 2025-2031

The global Solid State Transformers (SST) market size is predicted to grow from US$ 433 million in 2025 to US$ 1485 million in 2031; it is expected to grow at a CAGR of 22.8% from 2025 to 2031.

Solid state transformer, also known as power electronic transformer (EPT), is a kind of electric power electronic transformation technology and electromagnetic induction principle based on the combination of high-frequency power conversion technology to achieve power characteristics of electricity into other Electric power characteristics of the static electrical equipment. Compared with the conventional transformer, EPT has many advantages, its outstanding feature is that the original current can be achieved, the side voltage and power of flexible control. EPT applied to the power system will improve the power quality; improve system stability, to achieve a flexible transmission and power market power flow under real-time control.

The major players in global Solid State Transformers (SST) market include ABB, Siemens, General electric, etc. North America, Asia-Pacific and Europe are main markets. Two-stage and Three-stage are two main types, with a share about 90%. Alternative Power Generation and Smart Grid are two key applications, which hold a share about 70%.

LPI (LP Information)' newest research report, the “Solid State Transformers (SST) Industry Forecast” looks at past sales and reviews total world Solid State Transformers (SST) sales in 2024, providing a comprehensive analysis by region and market sector of projected Solid State Transformers (SST) sales for 2025 through 2031. With Solid State Transformers (SST) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solid State Transformers (SST) industry.

This Insight Report provides a comprehensive analysis of the global Solid State Transformers (SST) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Solid State Transformers (SST) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Solid State Transformers (SST) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solid State Transformers (SST) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solid State Transformers (SST).

This report presents a comprehensive overview, market shares, and growth opportunities of Solid State Transformers (SST) market by product type, application, key players and key regions and countries.

Segmentation by Type:
Single-stage
Two-stage
Three-stage

Segmentation by Application:
Alternative Power Generation
Smart Grid
Traction Locomotives
EV Charging
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
Siemens
General electric

Please note: The report will take approximately 2 business days to prepare and deliver.