Tuesday, 16 February 2016

Rising Application Encourages Solid State Transformer Market Players to Rely Heavily On Innovation

A misnomer, solid – state transformer is not a transformer in traditional sense. There has been a lot of discussions over the past few years about the solid -state version of the transformers that are stationed on the utility poles located in a neighborhood. Although not as so efficient as the traditional version but they definitely provide several benefits. Moreover, there advantages as a source of renewable power has further increased their popularity.  Among its more significant characteristics include reactive power backup for grid, power quality, limiting current and more. 

Industry experts are of the faith that integration with different systems would keep the future of the market robust. In future LV DC link in the solid state transformers topography are expected to offer quality as well as readily available integration mainly for the renewable energy solutions into distribution grid. Furthermore, the unidirectional converter would be used more to serve the growing load demand that is often bigger than the capabilities of the renewable energy. On the other hand, the use of solid state transformer to extend the application of DC, both in LV and MV would open new avenues for the market.

Today, many enterprises tweaking their technologies are planning to replace the traditional ones. The innovative pieces of industrial devices built from group of elements that raises or lowers electric voltage would be taken over by the transformers that come with semiconductors on their circuit boards. This process is likely to pave way for several improvements to ensure the power gets delivered. Thus, integrating as well as managing renewable energy and electrical storage will become convenient. In addition, the deployment of microgrids would observe tremendous growth. Likewise, grid efficiency would conceivably rise by about 8 to 10 % owing to the lower conversion and losses during transmission.

Many, old transformers will soon get a facelift to SST or solid state transformers as the popularity of smart grid increases Industry experts are of the faith that as the demand for smart grid grows the need for intelligent technologies to manage aspects such as introducing renewable energy as well as energy flow into these grid from offices and homes with an array of own wind and solar turbines would increase. In response to this demand, enterprises are emerging with the aim to fuel the muscle of smart grid. This further makes them solid state. Such transformers would help many vehicle owners charge their cars at home. These cars can now be charged under an hour without wasting much electricity. Additionally, several vehicles on the same block can be easily charged at the same time and it will not overload the circuits. This clears that these transformers would help the growth of cost effective electric vehicles.

Besides this, the affordable smart solid state transformation market is also luring many online customers. Eyeing the dramatic changes in the solid state transformer business Allied Market Research has published a market research report titled “World Solid State (Smart) Transformer Market - Opportunities and Forecasts, 2014 -2020”. As per the extensive study the fastest growing market North America would register a CAGR of 49.3 percent. The key market players active in the market are Siemens AG, General Electric Co., Mitsubishi Electric Corporation, Gridbridge Inc. and Eaton Corporation Plc. amongst others. Dominant use of solid state transformers such as alternative power generation is believed to drive the market further. Rising adoption rate of the renewable energy sources including solar and wind power, traction locomotives, are the key elements enhancing the adoption these transformations worldwide.

Read more at: https://www.alliedmarketresearch.com/solid-state-transformer-market

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