2020 solid state transformer market reached 5 billion

According to a research report released by MarketsandMarkets, a US market research organization, by 2020, the global solid-state transformer market is expected to reach US$5.043339 billion (approximately RMB31.33 billion), and the CAGR of 2012-2020 will be as high as 82.3%.

The solid state transformer is a static electrical device that combines a power electronic conversion technology and a high-frequency power conversion technology based on the principle of electromagnetic induction to realize the conversion of one type of electrical energy of electrical characteristics to another type of electrical energy. Compared with conventional transformers, solid-state transformers have many advantages. The outstanding feature is that they can achieve flexible control of the original square current, secondary voltage, and power.

After the solid-state transformer is applied to the power system, it will improve the power quality, improve the system stability, realize flexible transmission methods and real-time power flow control in the power market.

The report pointed out that at present, solid-state transformers are still a very niche market with a low degree of commercialization, but they will show an exponential growth in the next 2-3 years. For example, traction transformers provide a good market opportunity for solid-state transformers. It is believed that in the near future, solid-state transformers can be applied on a large scale to traction transformers.

According to industry sources, with the development of a new generation of solid-state transformers by power companies and pilot projects and trials in recent years, solid-state transformers will become an important part of the smart grid in the near future.