Europe Solid State Transformer Market

Recent developments in the Europe Solid State Transformer Market indicate a growing interest in energy efficiency and renewable energy integration. Companies such as Siemens and ABB have been investing heavily in Research and Development initiatives aimed at enhancing the capabilities and performance of solid state transformers. In September 2023, Schneider Electric announced a significant increase in its production capacity for solid state transformers to meet the rising demand for smart grid solutions. Furthermore, Power Electronics launched a new scalable solid state transformer aimed at enhancing efficiency in renewable energy applications. In terms of mergers and acquisitions, in August 2023, General Electric completed its acquisition of a European-based technology firm specializing in power electronics, aligning with its strategy to expand its footprint in the solid state transformer sector. The market is witnessing a surge in valuation, attributed to increasing investments and collaborations among key players such as Mitsubishi Electric and Infineon Technologies. Over the past two to three years, significant projects have emerged, including Nissan’s collaboration with Toshiba, initiated in November 2021, aimed at developing next-generation electric vehicle charging infrastructure utilizing solid state transformer technology.