Grid-forming Inverter Market By Size, Growth, Trends and Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 710.12 Million
CAGR (2023-2028)	8.83%
Fastest Growing Segment	Central Inverters
Largest Market	Asia-Pacific

Market Overview

The global Grid-forming Inverter market is at the forefront of revolutionizing the energy landscape, ushering in a new era of grid stability, renewable energy integration, and technological innovation. As the world shifts towards sustainable energy solutions and embraces the imperative to reduce carbon emissions, grid-forming inverters have emerged as indispensable components in the modern power sector. Grid-forming inverters are technologically advanced devices that play a pivotal role in ensuring the seamless integration of renewable energy sources, such as solar and wind, into the power grid. Unlike traditional inverters that follow the grid's frequency and voltage, grid-forming inverters have the unique capability to actively control grid parameters, such as frequency and voltage, effectively acting as the master of the grid's stability. This revolutionary feature addresses the challenges posed by the intermittent nature of renewable energy generation, ensuring that the power grid remains stable, reliable, and resilient even in the face of fluctuating energy inputs. One of the driving forces behind the adoption of grid-forming inverters is the global transition to renewable energy. Countries and regions around the world are setting ambitious targets to increase the share of renewable energy sources in their energy mix. This shift is accompanied by the need to manage the variability of energy generation from sources like solar and wind. Grid-forming inverters provide a dynamic solution to this challenge, allowing renewable energy sources to be seamlessly integrated and synchronized with the grid, ultimately accelerating the transition towards cleaner energy systems. The demand for grid stability has never been more critical. In an age where disruptions in power supply can have far-reaching economic and social consequences, grid-forming inverters offer a dependable solution. By maintaining grid parameters within acceptable limits, these inverters enhance the resilience of power systems, mitigate voltage fluctuations, and prevent power outages. This aspect is particularly important in regions prone to extreme weather events or those looking to enhance the reliability of their energy infrastructure. Furthermore, the rise of energy storage systems has fueled the demand for grid-forming inverters. Energy storage plays a pivotal role in smoothing out the intermittency of renewable energy generation. Grid-forming inverters facilitate the integration of energy storage by enabling bidirectional power flow, allowing excess energy to be stored when generation exceeds demand and released back to the grid when needed. This synergy between grid-forming inverters and energy storage enhances grid flexibility, supports peak shaving, and contributes to efficient load management. Decentralized energy generation is another factor contributing to the growth of the Grid-forming Inverter market. The proliferation of rooftop solar installations, community-based renewable projects, and microgrids has decentralized energy production and consumption. Grid-forming inverters empower these distributed energy resources by allowing them to operate in islanded mode during grid outages while ensuring grid stability when connected. This decentralization aligns with the growing demand for energy autonomy, localized resilience, and reduced dependence on centralized power generation. Technological advancements are propelling the Grid-forming Inverter market forward. Manufacturers are investing in research and development to enhance the performance, efficiency, and capabilities of these inverters. Advanced control algorithms, precise power electronics, and seamless communication protocols are enabling grid-forming inverters to respond rapidly to grid dynamics, effectively managing energy fluctuations and maintaining stable grid conditions. As these technologies evolve, grid-forming inverters are becoming smarter, adaptable, and increasingly essential in the modern energy ecosystem.

Key Market Drivers

Transition to Renewable Energy:

The global Grid-forming Inverter market is strongly driven by the ongoing transition to renewable energy sources. As countries worldwide commit to reducing carbon emissions and increasing the share of clean energy in their energy mix, grid-forming inverters play a crucial role in enabling the integration of renewable sources such as solar and wind into the power grid. These inverters facilitate the stable connection of intermittent energy generation to the grid, ensuring a consistent and reliable energy supply. As governments and industries prioritize sustainability, the demand for grid-forming inverters continues to rise.

Grid Resilience and Stability:

Grid stability and resilience have become top priorities as power systems undergo transformations. With the increased penetration of variable renewable energy sources, maintaining stable grid conditions becomes challenging. Grid-forming inverters offer a solution by providing the capability to actively control voltage and frequency, ensuring that the grid remains within acceptable parameters even in the presence of fluctuating energy inputs. This driver is particularly important in regions prone to natural disasters or those seeking energy independence through microgrid solutions.

Demand for Energy Storage Integration:

Energy storage is gaining traction as a means to enhance grid flexibility and manage intermittent energy supply. Grid-forming inverters are essential in integrating energy storage systems, allowing excess energy to be stored and released back to the grid when needed. This capability not only supports grid stability but also enables peak shaving and load shifting, reducing the strain on the grid during high-demand periods. The synergy between grid-forming inverters and energy storage addresses the challenge of aligning energy supply with demand, propelling the demand for these inverters.

Decentralized Energy Generation:

The rise of decentralized energy generation, including rooftop solar installations and community-based renewable projects, is a key driver for the Grid-forming Inverter market. Distributed energy resources create opportunities for localized energy production and consumption. Grid-forming inverters allow these distributed sources to contribute to grid stability while operating in islanded mode during grid outages. As consumers seek greater control over their energy usage and governments incentivize distributed energy, the market for grid-forming inverters is poised for growth.

Technological Advancements and Innovation:

Advancements in power electronics, control algorithms, and communication technologies are driving innovation in the Grid-forming Inverter market. Manufacturers are continuously improving the efficiency, performance, and capabilities of grid-forming inverters. These advancements enable grid-forming inverters to respond rapidly to changing grid conditions, enhancing stability and reliability. As the industry progresses, grid-forming inverters are becoming smarter, more adaptable, and better equipped to handle the challenges posed by evolving energy landscapes.

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Key Market Challenges

Grid Integration Complexity and Compatibility:

One of the significant challenges facing the global Grid-forming Inverter market is the complexity of integrating these advanced technologies into existing energy grids. While grid-forming inverters offer numerous benefits, their seamless integration requires compatibility with diverse grid architectures, varying voltage levels, and differing technical standards. Achieving harmonious operation between grid-forming inverters and the existing infrastructure demands sophisticated control algorithms and robust communication protocols. This challenge becomes particularly pronounced as the adoption of grid-forming inverters spans across regions with distinct grid characteristics and regulatory frameworks.

Grid Stability and Power Quality Assurance:

The transition towards renewable energy sources and distributed energy generation introduces challenges related to grid stability and power quality. Grid-forming inverters are tasked with maintaining grid parameters such as frequency and voltage within acceptable limits, especially in the presence of intermittent renewable energy inputs. Ensuring seamless synchronization between the grid-forming inverters and the grid itself is essential to prevent voltage fluctuations, frequency deviations, and potential disruptions. Overcoming these challenges requires advanced control strategies and innovative technologies that can respond dynamically to grid dynamics.

Technological Standardization and Interoperability:

The absence of standardized technological frameworks and interoperability protocols poses a significant challenge to the global Grid-forming Inverter market. Different manufacturers may develop grid-forming inverters with varying communication protocols, control algorithms, and operating parameters. This lack of standardization hampers seamless integration, increases engineering complexity, and inhibits the scalability of grid-forming inverter solutions. Addressing this challenge requires industry collaboration, the establishment of open communication standards, and efforts to create a unified ecosystem that promotes interoperability across various manufacturers and technologies.

Regulatory and Policy Uncertainty:

The global energy landscape is subject to evolving regulatory and policy frameworks aimed at promoting renewable energy adoption and grid stability. However, these policies can be variable and subject to change, leading to uncertainty for stakeholders in the Grid-forming Inverter market. Regulatory changes can impact incentives, compliance requirements, and market dynamics. Navigating this uncertainty requires flexibility in product design and adaptability to shifting policy landscapes. Additionally, clear communication channels between industry players and policymakers are vital to align market strategies with regulatory goals.

Cost Competitiveness and Economic Viability:

While the benefits of grid-forming inverters are well-established, their adoption faces challenges related to cost competitiveness. As a relatively nascent technology, grid-forming inverters may incur higher manufacturing and deployment costs compared to traditional inverters. Demonstrating their economic viability and return on investment becomes crucial for market expansion. Manufacturers must strive to improve production efficiency, reduce component costs, and demonstrate the long-term economic benefits of grid-forming inverters, such as improved grid stability, increased renewable energy integration, and reduced operational expenditures.

Key Market Trends

Integration of Advanced Energy Storage:

The global Grid-forming Inverter market is witnessing a significant trend toward the integration of advanced energy storage solutions. As energy grids evolve and incorporate higher shares of renewable energy sources, the need for effective energy storage and management becomes crucial. Grid-forming inverters are being designed to work in tandem with energy storage systems, enabling better load balancing, peak shaving, and grid stabilization. This trend reflects the industry's focus on creating more resilient and flexible energy infrastructures that can efficiently handle fluctuating energy supply and demand.

Digitalization and Smart Grid Integration:

The integration of digital technologies and smart grid concepts is another prominent trend in the global Grid-forming Inverter market. Grid-forming inverters are evolving to become an integral part of smart grids, capable of two-way communication, real-time monitoring, and grid optimization. These capabilities enable dynamic adjustments to power output and grid parameters, enhancing stability and enabling better integration of renewable energy sources. As energy systems become more interconnected and data-driven, the role of grid-forming inverters in facilitating grid management and optimization becomes increasingly significant.

Increasing Demand for Microgrids:

The rise of microgrids is influencing the Grid-forming Inverter market as well. Microgrids, which are localized energy systems capable of operating independently or in coordination with the main grid, require sophisticated grid-forming inverters to ensure stability and reliability. The trend toward decentralized energy generation, coupled with the need for energy resilience in remote or critical infrastructure locations, is driving the adoption of microgrids. Grid-forming inverters that can support microgrid operations while maintaining synchronization with the main grid are in high demand.

Emphasis on Grid Resilience and Stability:

Grid stability and resilience are paramount as the energy landscape evolves. The increasing integration of renewable energy sources, which can be variable in nature, poses challenges to grid stability. Grid-forming inverters are being developed with enhanced capabilities to provide grid-forming and grid-supporting functionalities. This trend reflects the industry's commitment to ensuring consistent and reliable power supply while maintaining stable grid conditions even in the presence of intermittent energy sources.

Evolution of Regulatory Frameworks:

Regulatory frameworks are shaping the development and deployment of grid-forming inverters. As renewable energy penetration grows, governments and regulatory bodies are updating policies to encourage cleaner energy integration and grid stability. This includes setting standards for grid-forming technologies, defining technical requirements, and offering incentives for advanced inverter solutions. The evolving regulatory landscape will continue to influence the design, manufacturing, and deployment of grid-forming inverters on a global scale.

Segmental Insights

Type Insights

Central-Inverters segment dominates in the global Grid-forming Inverter market in 2022. The central-inverters segment holds a prominent position due to its widespread application across utility-scale renewable energy projects. These inverters are designed to manage and convert the substantial power outputs generated by large solar and wind farms into usable energy for the grid. Their high-power capacity and advanced control capabilities make them essential for maintaining grid stability by synchronizing the variable output of renewable sources with grid requirements. One of the key reasons for the dominance of central inverters is their efficiency in terms of cost, installation, and maintenance. Central inverters offer economies of scale due to their larger capacity, resulting in a lower cost per watt and reduced balance-of-system expenses compared to other types. This cost-effectiveness is particularly advantageous for utility-scale projects that demand high power output, where central inverters offer a competitive solution.

Output Power Rating Insights

Above 100 kW segment dominates in the global grid-forming inverter market in 2022. The "Above 100 kW" segment of grid-forming inverters holds a significant advantage due to its applicability in larger and more complex energy infrastructures. As power grids evolve to accommodate increased renewable energy sources and higher demand, the need for robust and high-capacity solutions becomes paramount. Grid-forming inverters with an output power rating exceeding 100 kW offer the scalability and versatility required to stabilize and manage grids with substantial energy generation and consumption. In utility-scale solar and wind farms, where power generation is substantial, the "Above 100 kW" grid-forming inverters play a critical role in synchronizing renewable energy outputs with the grid's stability. Their capacity to handle large power outputs makes them essential for maintaining grid frequency and voltage within acceptable limits, ensuring a seamless integration of clean energy into the existing infrastructure.

Moreover, as industries and commercial enterprises transition towards more sustainable energy practices, the demand for grid-forming inverters with higher output power ratings has surged. Manufacturing facilities, data centers, and industrial complexes require substantial electricity to power their operations, and the "Above 100 kW" segment caters precisely to these high-energy consumption scenarios. These inverters facilitate efficient power distribution, load management, and power quality maintenance for such industrial consumers.

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Regional Insights

Asia-Pacific dominates in the global Grid-forming Inverter market in 2022. The Asia-Pacific region is home to some of the world's fastest-growing economies and populations. As economic activities and urbanization surged, so did the demand for electricity. This heightened energy demand prompted countries in the region to explore innovative technologies that could efficiently manage and distribute power while integrating renewable energy sources. Grid-forming inverters, with their ability to stabilize grids and incorporate renewable energy, became a crucial solution to address this demand. Moreover, the Asia-Pacific region became a hub for technological innovation and investment in the energy sector. Governments, research institutions, and private companies in countries like China, Japan, South Korea, and Australia were actively developing advanced energy technologies. Grid-forming inverters, being a critical component of modern energy systems, received significant attention in terms of research, development, and deployment. This technological leadership gave the region a competitive edge in the global grid-forming inverter market.

Recent Developments

In January 2023, ABB and Huawei announced a partnership to develop grid-forming inverters. The partnership will see the two companies combine their expertise in inverter technology and grid stability to develop a new generation of grid-forming inverters that can help to ensure the stability of the grid.

Key Market Players

ABB
Schneider Electric
SMA Solar Technology
SolarEdge Technologies
Huawei Technologies
Mitsubishi Electric
Infineon Technologies
Delta Electronics
Vikram SolarGrowatt

By Output Power Rating	By End-User	By Type	By Region
Below 50 kW 50-100 kW Above 100 kW	Residential Commercial PV Plants Automobile Others	Micro-Inverters Hybrid-Inverters Central-Inverters Others	North America Europe South America Middle East & Africa Asia Pacific

Report Scope:

In this report, the Global Grid-forming Inverter Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global Grid-forming Inverter Market, By Output Power Rating:

o Below 50 kW

o 50-100 kW

o Above 100 kW

Global Grid-forming Inverter Market, By End-User:

o Residential

o Commercial

o PV Plants

o Automobile

o Others

Global Grid-forming Inverter Market, By Type:

o Micro-Inverters

o Hybrid-Inverters

o Central-Inverters

o Others

Global Grid-forming Inverter Market, By Region:

o North America

o Europe

o South America

o Asia-Pacific

o Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Grid-forming Inverter Market.

Available Customizations:

Global Grid-forming Inverter Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Grid-forming Inverter Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Baseline Methodology

2.2. Key Industry Partners

2.3. Major Association and Secondary Sources

2.4. Forecasting Methodology

2.5. Data Triangulation & Validation

2.6. Assumptions and Limitations

3. Executive Summary

4. Impact of COVID-19 on Global Grid-forming Inverter Market

5. Voice of Customer

6. Global Grid-forming Inverter Market Overview

7. Global Grid-forming Inverter Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Output Power Rating (Below 50 kW, 50-100 kW, Above 100 kW)

7.2.2. By End-User (Residential, Commercial, PV Plants, Automobile, Others)

7.2.3. By Type (Micro-Inverters, Hybrid-Inverters, Central-Inverters, Others)

7.2.4. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3. By Company (2022)

7.4. Market Map

8. North America Grid-forming Inverter Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Output Power Rating

8.2.2. By End-User

8.2.3. By Type

8.2.4. By Country

8.2.4.1. United States Grid-forming Inverter Market Outlook

8.2.4.1.1. Market Size & Forecast

8.2.4.1.1.1. By Value

8.2.4.1.2. Market Share & Forecast

8.2.4.1.2.1. By Output Power Rating

8.2.4.1.2.2. By End-User

8.2.4.1.2.3. By Type

8.2.4.2. Canada Grid-forming Inverter Market Outlook

8.2.4.2.1. Market Size & Forecast

8.2.4.2.1.1. By Value

8.2.4.2.2. Market Share & Forecast

8.2.4.2.2.1. By Output Power Rating

8.2.4.2.2.2. By End-User

8.2.4.2.2.3. By Type

8.2.4.3. Mexico Grid-forming Inverter Market Outlook

8.2.4.3.1. Market Size & Forecast

8.2.4.3.1.1. By Value

8.2.4.3.2. Market Share & Forecast

8.2.4.3.2.1. By Output Power Rating

8.2.4.3.2.2. By End-User

8.2.4.3.2.3. By Type

9. Europe Grid-forming Inverter Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Output Power Rating

9.2.2. By End-User

9.2.3. By Type

9.2.4. By Country

9.2.4.1. Germany Grid-forming Inverter Market Outlook

9.2.4.1.1. Market Size & Forecast

9.2.4.1.1.1. By Value

9.2.4.1.2. Market Share & Forecast

9.2.4.1.2.1. By Output Power Rating

9.2.4.1.2.2. By End-User

9.2.4.1.2.3. By Type

9.2.4.2. France Grid-forming Inverter Market Outlook

9.2.4.2.1. Market Size & Forecast

9.2.4.2.1.1. By Value

9.2.4.2.2. Market Share & Forecast

9.2.4.2.2.1. By Output Power Rating

9.2.4.2.2.2. By End-User

9.2.4.2.2.3. By Type

9.2.4.3. United Kingdom Grid-forming Inverter Market Outlook

9.2.4.3.1. Market Size & Forecast

9.2.4.3.1.1. By Value

9.2.4.3.2. Market Share & Forecast

9.2.4.3.2.1. By Output Power Rating

9.2.4.3.2.2. By End-User

9.2.4.3.2.3. By Type

9.2.4.4. Italy Grid-forming Inverter Market Outlook

9.2.4.4.1. Market Size & Forecast

9.2.4.4.1.1. By Value

9.2.4.4.2. Market Share & Forecast

9.2.4.4.2.1. By Output Power Rating

9.2.4.4.2.2. By End-User

9.2.4.4.2.3. By Type

9.2.4.5. Spain Grid-forming Inverter Market Outlook

9.2.4.5.1. Market Size & Forecast

9.2.4.5.1.1. By Value

9.2.4.5.2. Market Share & Forecast

9.2.4.5.2.1. By Output Power Rating

9.2.4.5.2.2. By End-User

9.2.4.5.2.3. By Type

10. South America Grid-forming Inverter Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Output Power Rating

10.2.2. By End-User

10.2.3. By Type

10.2.4. By Country

10.2.4.1. Brazil Grid-forming Inverter Market Outlook

10.2.4.1.1. Market Size & Forecast

10.2.4.1.1.1. By Value

10.2.4.1.2. Market Share & Forecast

10.2.4.1.2.1. By Output Power Rating

10.2.4.1.2.2. By End-User

10.2.4.1.2.3. By Type

10.2.4.2. Colombia Grid-forming Inverter Market Outlook

10.2.4.2.1. Market Size & Forecast

10.2.4.2.1.1. By Value

10.2.4.2.2. Market Share & Forecast

10.2.4.2.2.1. By Output Power Rating

10.2.4.2.2.2. By End-User

10.2.4.2.2.3. By Type

10.2.4.3. Argentina Grid-forming Inverter Market Outlook

10.2.4.3.1. Market Size & Forecast

10.2.4.3.1.1. By Value

10.2.4.3.2. Market Share & Forecast

10.2.4.3.2.1. By Output Power Rating

10.2.4.3.2.2. By End-User

10.2.4.3.2.3. By Type

11. Middle East & Africa Grid-forming Inverter Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Output Power Rating

11.2.2. By End-User

11.2.3. By Type

11.2.4. By Country

11.2.4.1. Saudi Arabia Grid-forming Inverter Market Outlook

11.2.4.1.1. Market Size & Forecast

11.2.4.1.1.1. By Value

11.2.4.1.2. Market Share & Forecast

11.2.4.1.2.1. By Output Power Rating

11.2.4.1.2.2. By End-User

11.2.4.1.2.3. By Type

11.2.4.2. UAE Grid-forming Inverter Market Outlook

11.2.4.2.1. Market Size & Forecast

11.2.4.2.1.1. By Value

11.2.4.2.2. Market Share & Forecast

11.2.4.2.2.1. By Output Power Rating

11.2.4.2.2.2. By End-User

11.2.4.2.2.3. By Type

11.2.4.3. South Africa Grid-forming Inverter Market Outlook

11.2.4.3.1. Market Size & Forecast

11.2.4.3.1.1. By Value

11.2.4.3.2. Market Share & Forecast

11.2.4.3.2.1. By Output Power Rating

11.2.4.3.2.2. By End-User

11.2.4.3.2.3. By Type

12. Asia Pacific Grid-forming Inverter Market Outlook

12.1. Market Size & Forecast

12.1.1. By Value

12.2. Market Size & Forecast

12.2.1. By Output Power Rating

12.2.2. By End-User

12.2.3. By Type

12.2.4. By Country

12.2.4.1. China Grid-forming Inverter Market Outlook

12.2.4.1.1. Market Size & Forecast

12.2.4.1.1.1. By Value

12.2.4.1.2. Market Share & Forecast

12.2.4.1.2.1. By Output Power Rating

12.2.4.1.2.2. By End-User

12.2.4.1.2.3. By Type

12.2.4.2. India Grid-forming Inverter Market Outlook

12.2.4.2.1. Market Size & Forecast

12.2.4.2.1.1. By Value

12.2.4.2.2. Market Share & Forecast

12.2.4.2.2.1. By Output Power Rating

12.2.4.2.2.2. By End-User

12.2.4.2.2.3. By Type

12.2.4.3. Japan Grid-forming Inverter Market Outlook

12.2.4.3.1. Market Size & Forecast

12.2.4.3.1.1. By Value

12.2.4.3.2. Market Share & Forecast

12.2.4.3.2.1. By Output Power Rating

12.2.4.3.2.2. By End-User

12.2.4.3.2.3. By Type

12.2.4.4. South Korea Grid-forming Inverter Market Outlook

12.2.4.4.1. Market Size & Forecast

12.2.4.4.1.1. By Value

12.2.4.4.2. Market Share & Forecast

12.2.4.4.2.1. By Output Power Rating

12.2.4.4.2.2. By End-User

12.2.4.4.2.3. By Type

12.2.4.5. Australia Grid-forming Inverter Market Outlook

12.2.4.5.1. Market Size & Forecast

12.2.4.5.1.1. By Value

12.2.4.5.2. Market Share & Forecast

12.2.4.5.2.1. By Output Power Rating

12.2.4.5.2.2. By End-User

12.2.4.5.2.3. By Type

13. Market Dynamics

13.1. Drivers

13.2. Challenges

14. Market Trends and Developments

15. Company Profiles

15.1. ABB

15.1.1. Business Overview

15.1.2. Key Revenue and Financials

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. Key Product/Services Offered

15.2. Schneider Electric

15.2.1. Business Overview

15.2.2. Key Revenue and Financials

15.2.3. Recent Developments

15.2.4. Key Personnel

15.2.5. Key Product/Services Offered

15.3. SMA Solar Technology

15.3.1. Business Overview

15.3.2. Key Revenue and Financials

15.3.3. Recent Developments

15.3.4. Key Personnel

15.3.5. Key Product/Services Offered

15.4. SolarEdge Technologies

15.4.1. Business Overview

15.4.2. Key Revenue and Financials

15.4.3. Recent Developments

15.4.4. Key Personnel

15.4.5. Key Product/Services Offered

15.5. Huawei Technologies

15.5.1. Business Overview

15.5.2. Key Revenue and Financials

15.5.3. Recent Developments

15.5.4. Key Personnel

15.5.5. Key Product/Services Offered

15.6. Mitsubishi Electric

15.6.1. Business Overview

15.6.2. Key Revenue and Financials

15.6.3. Recent Developments

15.6.4. Key Personnel

15.6.5. Key Product/Services Offered

15.7. Infineon Technologies

15.7.1. Business Overview

15.7.2. Key Revenue and Financials

15.7.3. Recent Developments

15.7.4. Key Personnel

15.7.5. Key Product/Services Offered

15.8. Delta Electronics

15.8.1. Business Overview

15.8.2. Key Revenue and Financials

15.8.3. Recent Developments

15.8.4. Key Personnel

15.8.5. Key Product/Services Offered

15.9. Vikram Solar

15.9.1. Business Overview

15.9.2. Key Revenue and Financials

15.9.3. Recent Developments

15.9.4. Key Personnel

15.9.5. Key Product/Services Offered

15.10.Growatt

15.10.1. Business Overview

15.10.2. Key Revenue and Financials

15.10.3. Recent Developments

15.10.4. Key Personnel

15.10.5. Key Product/Services Offered

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the global Grid-forming Inverter market in 2022?

The market size of the global Grid-forming Inverter market was USD 710.12 Million in 2022.

Which was the dominant segment in the global Grid-forming Inverter market in 2022, by type?

Central inverter was the dominant segment in the global Grid-forming Inverter market in 2022 by grades.

What are the challenges in the global Grid-forming Inverter market?

The challenges in the global Grid-forming Inverter market include grid integration complexity and compatibility, grid stability and power quality assurance, technological standardization and interoperability, regulatory and policy uncertainty, etc.

What are the major drivers for the global Grid-forming Inverter market?

The major drivers for the global Grid-forming Inverter market include transition to renewable energy, grid resilience and stability, demand for energy storage integration, decentralized energy generation, technological advancements and innovation, etc.

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Press Release

Global Grid-forming Inverter Market Expands with Central Inverter Segment at a robust CAGR

Nov, 2023

The increasing global Grid-forming Inverter market is driven by transition to renewable energy, demand for energy storage integration during the forecast period 2024-2028.

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