Solid State Transformer Market to Reach US$ 348.92 Million by 2029, Growing at a CAGR of 14.9%
Summary: The global Solid State Transformer market is projected to grow significantly, reaching an estimated value of US$ 348.92 Million by 2029. With a Compound Annual Growth Rate (CAGR) of 14.9% from 2024 to 2029, this market is set to experience substantial growth driven by advancements in power distribution systems, energy efficiency demands, and electric vehicle (EV) charging infrastructure. The study also takes into account the impact of the Covid-19 pandemic on the market, which has led to temporary disruptions but has highlighted the increasing need for innovative solutions like solid-state transformers in the power and energy sectors.
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