Global Grid-Forming Inverter Market Size is valued at USD 723.32 Mn in 2024 and is predicted to reach USD 1657.64 Mn by the year 2034 at a 8.8% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
A grid-forming inverter is a key component in electrical grids and renewable energy systems. It controls voltage and frequency, ensuring grid stability and reliable power distribution. It's essential for integrating renewables, managing energy storage, and responding to grid disturbances, making it a crucial element in modern power systems. Using grid-forming inverters, electric vehicles can contribute to the power system by balancing loads, regulating frequencies, and meeting peak demand.
The market for grid-forming inverters is projected to expand most rapidly in the central inverter subsegment. In order to effectively incorporate the sizable power output from large-scale renewable energy projects like utility-scale solar farms and wind farms into the electricity system, high-capacity central grid-forming inverters are required. Furthermore, the grid voltage and frequency are all that are required of grid-forming inverters. Therefore, simpler control algorithms and hardware can be used.
However, market growth is hampered by the strict regulatory criteria for safety and the lack of norms and etiquette. In order to ensure safe and reliable functioning, a set of regulations known as "grid codes" have been established. Usually, they outline the standards that must be met regarding the electrical output and inverter communication protocols. Due to the added complexity inherent in actively controlling the grid voltage and frequency, grid-forming inverters are more complex than grid-forming inverters. Because of this, we need sophisticated controllers.
The COVID-19 epidemic has repercussions on economies, businesses, and factories around the world. Customers' consumption and demand patterns are changing as a result of the pandemic, which has had a major impact on the grid-forming inverter market during the epidemic by restricting imports and exports. Because of this, businesses all across the world were able to flourish.
The Grid-forming inverter market is segmented based on power rating, voltage, type, and application. Based on power rating, the market is segmented into below 50 KW, 50–100 KW, and above 100 KW. By voltage, the market is segmented into 100–300 V, 300–500 V, and above 500 V. By type, the market is segmented into micro inverters, string inverters, and central inverters. The application segment comprises solar PV plants, wind power plants, energy storage systems, and electric vehicles.
The 500 V grid-forming inverter market is expected to hold a major global market share in 2024. 500 V includes enormous solar arrays and wind turbines. These inverters can integrate the generated electricity into the grid efficiently and handle huge power capacities. Due to the rising popularity of large-scale renewable energy projects and the consequent demand for high-capacity inverters, the market for above-500 V grid-forming inverters was expanding rapidly.
The 50-100 KW segment is projected to grow rapidly in the global grid-forming inverter market. 50-100 KW inverters are crucial to safely and effectively incorporating renewable energy sources into the grid. In the commercial and industrial sectors, grid-forming inverters in the 50–100 kW range provide an optimal balance between capacity and cost, especially in countries like the US, Germany, the UK, China, and India.
The European grid-forming inverter market is expected to record the maximum market share in revenue in the near future. It can be attributed to the fact that grid stability and renewable energy integration are improved through energy storage, which allows for the discharging of stored renewable energy during times of high demand. Policies and regulations are being introduced and updated by governments to make it easier to integrate renewable energy sources into the grid. In addition, Asia Pacific is estimated to grow rapidly in the global grid-forming inverter market. Support for renewable energy integration, grid modernization, and grid stability and resilience are all receiving more attention as the world moves toward a more sustainable energy future.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 723.32 Mn |
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Revenue Forecast In 2034 |
USD 1657.64 Mn |
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Growth Rate CAGR |
CAGR of 8.8% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Voltage, Power rating, Type, and application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ; France; Italy; Spain; South Korea; South East |
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Competitive Landscape |
Huawei Technologies Co., Ltd., Sungrow, Solar Technology Ag, Power Electronics S.L., Fimer Group, Solaredge Technologies, Fronius International Gmbh, Goodwe, Enphase Energy, Schneider Electric, General Electric, Delta Electronics, Inc., Kaco New Energy, Tmeic, Gamesa Electric, Delphi Technologies, Sensata Technologies, Inc., Altenergy Power System Inc., Growatt New Energy, Tbea Xinjiang Sunoasis |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular geographically competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Grid-forming Inverter Market Snapshot
Chapter 4. Global Grid-forming Inverter Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Type Estimates & Trend Analysis
5.1. By Type, & Market Share, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 & 2034 for the following By Type:
5.2.1. Micro Inverter
5.2.2. String Inverter
5.2.3. Central Inverter
Chapter 6. Market Segmentation 2: By Application Estimates & Trend Analysis
6.1. By Application & Market Share, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 & 2034 for the following By Application:
6.2.1. Solar PV Plants
6.2.2. Wind Power Plants
6.2.3. Energy Storage Systems
6.2.4. Electric Vehicles
Chapter 7. Market Segmentation 3: By Voltage Estimates & Trend Analysis
7.1. By Voltage & Market Share, 2019 & 2031
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 & 2034 for the following By Voltage:
7.2.1. 100–300 V
7.2.2. 300–500 V
7.2.3. Above 500 V
Chapter 8. Market Segmentation 4: By Power Rating Estimates & Trend Analysis
8.1. By Power Rating & Market Share, 2024 & 2034
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 & 2034 for the following By Power Rating:
8.2.1. Below 50 KW
8.2.2. 50–100 KW
8.2.3. Above 100 KW
Chapter 9. Grid-forming Inverter Market Segmentation 5: Regional Estimates & Trend Analysis
9.1. North America
9.1.1. North America Grid-forming Inverter Market revenue (US$ Million) estimates and forecasts By Type, 2021 & 2034
9.1.2. North America Grid-forming Inverter Market revenue (US$ Million) estimates and forecasts By Application, 2021 & 2034
9.1.3. North America Grid-forming Inverter Market revenue (US$ Million) estimates and forecasts By Voltage, 2021 & 2034
9.1.4. North America Grid-forming Inverter Market revenue (US$ Million) estimates and forecasts By Power Rating, 2021 & 2034
9.1.5. North America Grid-forming Inverter Market revenue (US$ Million) estimates and forecasts by country, 2021 & 2034
9.2. Europe
9.2.1. Europe Grid-forming Inverter Market revenue (US$ Million) By Type, 2021 & 2034
9.2.2. Europe Grid-forming Inverter Market revenue (US$ Million) By Application, 2021 & 2034
9.2.3. Europe Grid-forming Inverter Market revenue (US$ Million) By Voltage, 2021 & 2034
9.2.4. Europe Grid-forming Inverter Market revenue (US$ Million) By Power Rating, 2021 & 2034
9.2.5. Europe Grid-forming Inverter Market revenue (US$ Million) by country, 2021 & 2034
9.3. Asia Pacific
9.3.1. Asia Pacific Grid-forming Inverter Market revenue (US$ Million) By Type, 2021 & 2034
9.3.2. Asia Pacific Grid-forming Inverter Market revenue (US$ Million) By Application, 2021 & 2034
9.3.3. Asia Pacific Grid-forming Inverter Market revenue (US$ Million) By Voltage, 2021 & 2034
9.3.4. Asia Pacific Grid-forming Inverter Market revenue (US$ Million) By Power Rating, 2021 & 2034
9.3.5. Asia Pacific Grid-forming Inverter Market revenue (US$ Million) by country, 2021 & 2034
9.4. Latin America
9.4.1. Latin America Grid-forming Inverter Market revenue (US$ Million) By Type, (US$ Million) 2021 & 2034
9.4.2. Latin America Grid-forming Inverter Market revenue (US$ Million) By Application, (US$ Million) 2021 & 2034
9.4.3. Latin America Grid-forming Inverter Market revenue (US$ Million) By Voltage, (US$ Million) 2021 & 2034
9.4.4. Latin America Grid-forming Inverter Market revenue (US$ Million) By Power Rating, (US$ Million) 2021 & 2034
9.4.5. Latin America Grid-forming Inverter Market revenue (US$ Million) by country, 2021 & 2034
9.5. Middle East & Africa
9.5.1. Middle East & Africa Grid-forming Inverter Market revenue (US$ Million) By Type, (US$ Million) 2021 & 2034
9.5.2. Middle East & Africa Grid-forming Inverter Market revenue (US$ Million) By Application, (US$ Million) 2021 & 2034
9.5.3. Middle East & Africa Grid-forming Inverter Market revenue (US$ Million) By Voltage, (US$ Million) 2021 & 2034
9.5.4. Middle East & Africa Grid-forming Inverter Market revenue (US$ Million) By Power Rating, (US$ Million) 2021 & 2034
9.5.5. Middle East & Africa Grid-forming Inverter Market revenue (US$ Million) by country, 2021 & 2034
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. Huawei Technologies Co. Ltd. (China)
10.2.2. General Electric (US)
10.2.3. Power Electronics (Spain)
10.2.4. SMA Solar Technology (Germany)
10.2.5. Games Electric (Germany)
10.2.6. FIMER (Italy)
10.2.7. Growatt New Energy (China)
10.2.8. TBEA Xingjiang Sunoasis (China)
10.2.9. Fronius International (Austria)
10.2.10. Goodwe (China)
10.2.11. Schneider Electric (France)
10.2.12. SolarEdge Technologies (Israel)
10.2.13. Sungrow Power Supply (China)
10.2.14. Delta Electronics (UK)
10.2.15. Enphase Energy (US)
10.2.16. Altenergy Power System (US)
10.2.17. Sensata Technologies (US)
10.2.18. Delphi Technologies (UK)
10.2.19. TMEIC (Japan)
10.2.20. KACO New Energy (Germany)
Grid-Forming Inverter Market By Power Rating-
Grid-Forming Inverter Market By Voltage
Grid-Forming Inverter Market By Type
Grid-Forming Inverter Market By Application
Grid-Forming Inverter Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
