North America Solid-state Transformer Market (2030-2035)

RESEARCH METHODOLOGY

The research study involved four major activities in estimating the size of the solid-state transformer market. Exhaustive secondary research has been conducted to gather key information on the market and peer markets. The validation of these findings, assumptions, and sizing was conducted through primary research with industry experts across the power electronics, power distribution, and energy infrastructure value chain. Both top-down and bottom-up approaches have been used to estimate the market size. Post which, the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and subsegments.

Secondary Research

In the secondary research process, various sources have been consulted to identify and collect the information required for this study. The secondary sources include annual reports, press releases, company investor presentations, white papers, and articles by recognized authors. Secondary research has primarily focused on obtaining key information about the market’s supply chain, the pool of key solid-state transformer manufacturers and power electronics providers, market segmentation based on industry trends, regional outlook, and developments from both market and technology perspectives.
In the solid-state transformer market report, the global market size has been estimated using both the top-down and bottom-up approaches, along with several other dependent submarkets. The major players in the market were identified through extensive secondary research, and their presence was determined through both secondary and primary research. All the percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Primary Research

Extensive primary research has been conducted, building on the understanding of the solid-state transformer market scenario from secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across five major regions—Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Approximately 25% of the primary interviews have been conducted with demand-side vendors, and 75% with supply-side vendors. Primary data has been collected mainly through telephone interviews, which accounted for 80% of the total primary interviews; questionnaires and emails have also been used to collect the data.
Following successful interactions with industry experts, brief sessions were held with highly experienced independent consultants to reinforce the findings of our primary research. This, along with the opinions of our in-house subject-matter experts, has led us to the findings described in the report. The breakdown of primary respondents is as follows:

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the market engineering process, both top-down and bottom-up approaches, along with data triangulation methods, have been used to estimate and validate the size of the solid-state transformer market and its dependent submarkets. The research methodology used to estimate the market sizes includes the following:

• Identifying top-line investments and spending across grid modernization, smart grid infrastructure, EV charging systems, renewable energy integration, and advanced power electronics ecosystems while considering segment-level splits and major market developments
• Identifying different stakeholders in the solid-state transformer market that influence the overall market, along with participants across the power electronics and energy infrastructure value chain
• Analyzing major companies in the solid-state transformer ecosystem and studying their product portfolios, technology capabilities, and R&D activities
• Analyzing adoption trends of solid-state transformers across key sectors, including electric utilities, renewable energy developers, transportation electrification, EV charging infrastructure, data centers, industrial enterprises, and commercial & institutional facilities
• Tracking recent and upcoming market developments, including investments, R&D initiatives, product launches, collaborations, agreements, expansions, and partnerships, and forecasting the market size based on these developments and other critical parameters such as regulatory policies, technology adoption rates, pricing trends, supply chain dynamics, demand across key end users, and macroeconomic factors.
• Conducting multiple discussions with key opinion leaders to understand adoption trends and technological developments related to solid-state transformers
• Segmenting the overall market into various segments, such as power rating, voltage level, conversion stage, semiconductor device type, cooling method, deployment type, application, end user, and region
• Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, technology specialists, and operations managers, and finally with the domain experts at MarketsandMarket

Solid-State Transformer Market : Top-Down and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market has been split into several segments and subsegments. To complete the entire market engineering process and obtain the exact statistics for each market segment and subsegment, data triangulation and market breakdown procedures have been employed, as applicable. The data has been triangulated by examining various factors and trends on both the demand and supply sides of the solid-state transformer market.