Top Solid State Transformer Companies

Global Solid State Transformer Market size was valued at USD 150 Million in 2024 and is poised to grow from USD 174.15 Million in 2025 to USD 574.89 Million by 2033, growing at a CAGR of 16.1% during the forecast period (2026–2033).

The global solid state transformer market is highly competitive, with numerous international companies leading innovation in the development and deployment of solid state transformer (SST) technologies. The key players are Siemens, ABB, General Electric (GE), and Schneider Electric. They invest in research and development to enhance the efficiency, cost-effectiveness, and scalability of SSTs. For instance, Siemens uses a strategic partnership and R&D collaboration strategy to advance smart grid technologies, whereas ABB concentrates on digital transformation and grid automation. GE is concerned with renewable energy integration, and Schneider Electric is a leader in sustainable energy solutions, promoting the use of SSTs worldwide. 'ABB Ltd. (Switzerland) ', 'Siemens AG (Germany) ', 'General Electric Company (USA) ', 'Schneider Electric SE (France) ', 'Eaton Corporation plc (Ireland) ', 'Hitachi Energy Ltd. (Japan/Switzerland) ', 'Toshiba Corporation (Japan) ', 'Alstom SA (France) ', 'Amantys Limited (UK) ', 'Varentec Inc. (USA/Canada) ', 'GridBridge Inc. (USA) ', 'STMicroelectronics N.V. (Switzerland) ', 'Infineon Technologies AG (Germany) ', 'Vitzro Group (South Korea) ', 'Gridco Systems Inc. (USA) ', 'Schweitzer Engineering Laboratories Inc. (USA) ', 'Raychem RPG Pvt. Ltd. (India) ', 'Bharat Heavy Electricals Limited (India)'

The use of renewable energy resources such as wind and solar power is one of the major growth drivers for the global solid state transformer market. Solid state transformers (SSTs) enable effective power conversion, voltage regulation, and integration into the grid, which helps to mitigate issues like varying energy outputs and achieving steady energy supply from renewable resources into the grid.

Growing Integration with Smart Grids: The use of solid state transformers (SSTs) in conjunction with smart grid technologies is emerging as a major trend in the international solid state transformer market. SSTs offer improved grid automation, real-time monitoring, and voltage regulation, which help to enhance energy efficiency and facilitate smooth integration of renewable energy sources. These features enable the creation of smart cities, decentralized power systems, and sustainable energy management, making the grid more robust and responsive to changing energy needs.

North America is a leading market for the global solid state transformer market, led by high growth in smart grids, integration of renewable energy, and electric vehicle (EV) infrastructure. The U.S. and Canada are significantly investing in grid modernization, pushing demand for SSTs. Government policies supporting clean energy and energy efficiency also accelerate the uptake. Also, the presence of top tech companies and research institutions creates a constant stream of innovation, making North America a leading center for SST deployment.