Home > Semiconductor & Electronics > China Solid State Transformer Market Size | Forecast to 2031
Straits Research

China Solid State Transformer Market

China Solid State Transformer Market: Information by Voltage (Low Level, Medium Level), Product (Traction Solid State Transformer), Application (Renewable Power Generation, Power Distribution, Traction Locomotives), and Region—Forecast till 2031

Table of Content Download Sample

Market Overview

The China solid state transformer market was valued at USD 51 million in 2021 and is projected to reach USD 228 million by 2031, registering a CAGR of 14.5% during the forecast period 2022-2031.

Solid-state transformers moderate voltage variations on their while still being connected to the electrical grid. Voltage-related data can be transmitted to the smart grid, and remote administration can be used to implement remedial measures. Applications like alternative energy generation using solar and wind turbines require an optimized power supply.

The China solid-state transformer market is anticipated to be driven by significant factors like the expansion of renewable energy production, new smart grid installations, and electric mobility throughout the forecast period. Because of the advantages that solid-state transformer technology has over conventional transformers, including its small size, efficiency, A.C. to D.C. conversion, bidirectional power flow, and others, it is expected to increase at a rapid rate.

Highlights

  • Medium level dominates the market by voltage. 
  • Distribution solid state transformer dominates by product.
  • Renewable power generation dominates by application.

Market Snapshot

Base Year:
2022
Study Period:
2021-2031
CAGR:
14.5 %
Get more information on this report Download Sample Report

Market Dynamics

China Solid State Transformer Market Drivers

Rising Demand for Electric Vehicles

China is the world's largest Electric Vehicle (E.V.) market, and the government wants 50% of new car sales to be electric by 2035. SSTs can help build efficient, dependable charging stations to meet this demand.

In 2019, State Grid Corporation of China and BYD built an SST-based electric bus charging station in Guangzhou. A 200kW SST reduced charging equipment size and efficiency to 94%. The charging station became cheaper and easier to deploy. A 2020 Tsinghua University research team created an SST-based EV charging system. A 250kW SST reduced charging equipment size and efficiency to 98.8%. Researchers said the technology fully charged a BYD electric bus in 30 minutes.

China Solid State Transformer Market Restraints

High Cost

Solid-state transformers cost more than traditional transformers. Power electronics and complex control systems make SSTs more expensive than traditional transformers. In low-margin businesses, this cost premium may prevent uptake. SSTs cost more than standard chargers but enhance E.V. charging station efficiency and reliability. BYD and State Grid Corporation of China launched a USD 1.5 million SST-based electric bus charging station in Guangzhou in 2019. Traditional charging stations cost roughly USD 200,000. Charging infrastructure operators may struggle to scale SST-based systems due to this cost premium.

China Solid State Transformer Market Opportunities

Increasing Demand for Renewable Energy

It is an ambitious goal for China to have 35% of its electricity originate from renewable sources by 2030. This has substantially increased the use of wind and solar energy, fueling China's need for SSTs. In Qinghai Province in 2019, the China Electric Power Research Institute installed a 110kV SST to facilitate the integration of wind power into the grid. The SST provided a more efficient and dependable solution for power transmission than conventional transformers, resulting in decreased power losses and improved power quality. The preponderance of China's electricity transmission is managed by the State Grid Corporation of China, which has also invested in developing SSTs for various applications. The company has developed a 10kV SST for wind power integration and a 35kV SST for city power systems.

 

Segmental Analysis

The China solid state transformer market is segmented based on voltage, product, and application.

The voltage level is further segmented into Low, Medium, and High Levels.

The Medium Level dominated the market and is expected to register a CAGR of 14.9% over the forecast period.

Based on the product, the market is sub-segmented into Distribution Solid State Transformers, Power Solid State Transformers, and Traction Solid State Transformers.

Distribution Solid State Transformer is expected to dominate the market, registering the highest CAGR of 14.9% over the forecast period.

The application is segmented into Renewable Power Generation, Electric Vehicle Charging Stations, Power Distribution, Traction Locomotives, and Others.

The Renewable Power Generation segment dominated the market and is expected to grow at a CAGR of 16.6% during the forecast period.

 

Find Regional level market intelligence here !

Regional Analysis

China is the largest market for transporting and distributing power (T&D) worldwide. Due to its plans to cut carbon emissions and commitment to green development, it is anticipated to purchase a significant amount of smart grid equipment. 8.11 trillion kilowatt-hours (KWh) of energy were used in China's power industry in 2021 from all sources combined. Various energy sources power the nation, including coal, natural gas, nuclear energy, wind, water, biofuels, and the sun. China has the largest industrial sector; thus, as industrial demands have increased quickly, so have the nation's energy needs.

Due to the volume of electricity projects it implements, China is quickly becoming a powerhouse in the Asian region. China has assumed a prominent role in the development of renewable energy through a large number of solar installations. In addition, the China State Railway Group unveiled a new plan to increase the network's length to almost 200,000 km by the end of 2035. The 70,000km high-speed railway network is another goal of the plan. The railway line connecting Kathmandu, Nepal, and Lhasa, Tibet, has also been constructed by China. From 70GW to 120GW of nuclear energy is planned for development in China. These infrastructure improvements offer numerous chances for the solid-state transformer market to expand. Businesses are investing more funds in distribution networks and concentrating on smart grids. In China, demand for Solid state transformers is anticipated to rise over the next years as a result of this.

Regional Growth Insights Download Free Sample

Top Key Players of China Solid State Transformer Market

  1. Alstom
  2. General Electric
  3. Hitachi Energy
  4. Schneider Electric

Report Scope

Report Metric Details
CAGR 14.5%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Voltage
    1. Low Level
    2. Medium Level
    3. High Level
  2. By Product
    1. Distribution Solid State Transformer
    2. Power Solid State Transformer
    3. Traction Solid State Transformer
  3. By Application
    1. Renewable Power Generation
    2. Electric Vehicle Charging Stations
    3. Power Distribution
    4. Traction Locomotives
    5. Others

Recent Developments

  • April 2023- Alstom will equip the latest-generation ETCS signaling technology on 37 locomotives in the SNCB fleet.
  • April 2023- G.E. introduced new options to reduce LM2500XPRESS* Aeroderivative Gas Turbines emissions.

China Solid State Transformer Market Segmentation

By Voltage 

  • Low Level
  • Medium Level
  • High Level

By Product 

  • Distribution Solid State Transformer
  • Power Solid State Transformer
  • Traction Solid State Transformer

By Application 

  • Renewable Power Generation
  • Electric Vehicle Charging Stations
  • Power Distribution
  • Traction Locomotives
  • Others

Frequently Asked Questions (FAQs)

How big is the China solid state transformer market?
The China solid state transformer market was valued at USD 51 million in 2021 and is projected to reach USD 228 million by 2031, registering a CAGR of 14.5% during the forecast period 2022-2031.
Key verticals adopting the China solid state transformer market include: Alstom, General Electric, Hitachi Energy, Schneider Electric.
Rising demand for electric vehicles is the key driver for the growth of the China solid state transformer market.
Increasing demand for renewable energy is one of the upcoming key trends in the China solid state transformer market.
Price Starts From
USD 995

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Samsung Electronics
Qualcomm
LGE
Need Assistance?
+1 646 905 0080 (U.S.)
+44 203 695 0070 (U.K.)
sales@straitsresearch.com

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Report Snapshot
Looking For Custom Report ?
Check Our License Options :

As featured on :

clients
Trusted by Fortune 500
Over 30000+ subscribers