Germany’s central bank in its monthly report, stated that after a 0.3 per cent contraction in the final quarter of 2023, output is “likely to decline slightly” from January to March. This would mark the second consecutive decline in economic output, Economy News, Times Now
Germany s economy stagnated in the second quarter, final official data confirmed Friday, adding to a bleak outlook as the country battles an industrial slowdown and stubborn inflation. Europe s biggest economy registered zero growth from April to June compared to the previous quarter, according to complete data from the federal statistics agency Destatis.
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The solid-state transformer market size is expected to grow from USD 100 million in 2024 to USD 241 million by 2030; it is expected to grow at a CAGR of 15.8% from 2024 to 2030.
The key factors driving the growth of the solid-state transformer market are growing alternative energy sector, and increasing investments in smart grids and energy systems.
Market for HV/MV to account for larger market share during forecast period.
The HV/MV segment is expected to continue to hold a larger market size during the forecast period. The growth of the HV/MV segment of the solid-state transformer market can be attributed to the increased adoption of these transformers in renewable power generation applications. The outbreak and the spread of the COVID-19 have also impacted the growth of the solid-state transformer market globally. It is expected to witness a forward push from 2024 onward.