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Grid-forming Inverter Market by Power Rating (Below 50 KW, 50-100 KW, Above 100 KW), Voltage ( 100-300 V, 300-500 V, Above 500 V), Type (Micro Inverters, String Inverters, Central Inverters), Application & Region - Global Forecast to 2028

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from $4,950 225 Pages MarketsandMarkets July, 2023 MKMK18114005
Best Price Guarantee
Price from $4,950
Length 225 Pages
Publisher MarketsandMarkets
Published Date July, 2023
SKU MKMK18114005

Grid-forming Inverter Market by Power Rating (Below 50 KW, 50-100 KW, Above 100 KW), Voltage ( 100-300 V, 300-500 V, Above 500 V), Type (Micro Inverters, String Inverters, Central Inverters), Application & Region - Global Forecast to 2028



The global grid-forming inverter market is estimated to grow from USD 1,042 million by 2028 from an estimated of USD 680 million in 2023; it is expected to record a CAGR of 8.9% during the forecast period. The grid-forming inverters play a vital role in effectively managing the large influx of renewable energy and ensuring grid stability.

“Above 100 KW: The second largest- growing segment of the grid-forming inverter market”

Based on by power rating of grid-forming inverter , the above 100 KW segment is estimated to be the second largest-growing market from 2023 to 2028. Above 100 kW grid-forming inverters provide grid stability and resilience by offering grid support services, such as frequency regulation, voltage control, and reactive power compensation. These services are especially critical in regions with high renewable energy integration.

“String Inverters: The second largest segment by standard in grid-forming inverter market”

The string inverters segment, by type, is projected to hold the second largest market size during the forecast period. String inverters are generally more cost-effective than central inverters for smaller-scale solar PV installations. They offer a good balance between performance and affordability, making them an attractive choice for residential and small commercial projects. The installation and maintenance of string grid-forming inverters are relatively straightforward, and they typically have lower maintenance requirements compared to more complex central grid-forming inverters.

“Wind Power Plants: The second largest segment by application in grid-forming inverter market”

The wind power plants segment, by application is projected to hold the second largest market size during the forecast period. Grid-forming inverters are increasingly being utilized in wind power plants to support grid stability and enhance the integration of wind energy into the electricity grid. These specialized inverters play a crucial role in creating and maintaining a stable grid environment, allowing wind power plants to operate in grid-forming mode rather than relying solely on the stability of the existing grid.

“North America: The second fastest-growing region in grid-forming inverter market”

North America is estimated to hold the second fastest market share in the grid-forming inverter market. The increasing focus on grid resilience and preparedness for natural disasters is leading to a greater interest in microgrid solutions that incorporate grid-forming inverters. The interest in microgrids is rising in North America, particularly for critical facilities, military bases, and remote communities. Grid-forming inverters are vital components of microgrids, allowing them to operate autonomously or in coordination with the main grid.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1- 35%, Tier 2- 45%, and Tier 3- 20%

By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%

By Region: North America- 40%, Asia Pacific- 30%, Europe- 20%, the Middle East & Africa- 5%, and South America- 5%

Note: Others include product engineers, product specialists, and engineering leads.

Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The grid-forming inverter market is dominated by a few major players that have a wide regional presence. The leading players in the grid-forming inverter market are Huawei Technologies Co. Ltd. (China), General Electric (US), SMA Solar Technology (Germany), Games Electric (Spain) and FIMER Group (Italy).

Research Coverage:

The report defines, describes, and forecasts the global grid-forming market, by power rating, voltage, type, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the grid-forming inverter market.

Key Benefits of Buying the Report

Renewable energy sources, such as solar and wind, are intermittent, meaning they do not always produce power at the same rate. This can cause problems for the grid, leading to voltage fluctuations and frequency instability. Grid-forming inverters can help mitigate these problems by actively controlling the grid voltage and frequency. Grid-forming inverters are typically more expensive than grid-following inverters because of the extra complexity. The additional cost of grid-forming inverters is justified by the benefits they offer, such as improved stability and reliability of the grid and reduced cost of renewable energy integration.

Product Development/ Innovation: Advanced control algorithms are being used to improve the dynamic response of grid-forming inverters. This means that they can respond more quickly to changes in the grid voltage and frequency, which can help improve the stability of the grid. Improved communication protocols are being developed to allow grid-forming inverters to communicate more effectively with each other and the grid.

Market Development: The growing adoption of electric vehicles (EVs) is increasing demand for smart charging solutions and grid integration technologies, where grid-forming inverters can play a role. rid-forming inverters can be combined with energy storage systems to enable efficient energy management and enhance grid stability. The growth of energy storage projects further drives the demand for these inverters.

Market Diversification: This strategy aims to explore new opportunities, reduce reliance on a single market segment, and spread business risks across multiple sectors. Expanding grid-forming inverter applications to residential and commercial microgrids can provide localized energy solutions and improve energy resiliency. As utilities and grid operators invest in smart grid technologies and grid modernization initiatives, grid-forming inverters can play a crucial role in enhancing grid stability and flexibility.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Huawei Technologies Co. Ltd. (China), General Electric (US), SMA Solar Technology (Germany), Games Electric (Spain) and FIMER Group (Italy)


1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Inclusions And Exclusions
Table 1 Grid-forming Inverter Market, By Power Rating: Inclusions And Exclusions
Table 2 Grid-forming Inverter Market, By Voltage: Inclusions And Exclusions
Table 3 Grid-forming Inverter Market, By Type: Inclusions And Exclusions
Table 4 Grid-forming Inverter Market, By Application: Inclusions And Exclusions
1.4 Market Scope
Figure 1 Grid-forming Inverter Market Segmentation
1.4.1 Regional Scope
1.4.2 Years Considered
1.5 Currency Considered
1.6 Limitations
1.7 Stakeholders
1.8 Recession Impact
2 Research Methodology
2.1 Research Data
Figure 2 Grid-forming Inverter Market: Research Design
2.2 Market Breakdown And Data Triangulation
Figure 3 Data Triangulation Methodology
2.2.1 Secondary Data
2.2.1.1 Key Data From Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Data From Primary Sources
2.2.2.2 Breakdown Of Primaries
2.3 Grid-forming Inverter Market: Recession Impact
2.4 Report Scope
Figure 4 Main Metrics Considered To Analyze And Assess Demand For Grid-forming Inverters
2.5 Market Size Estimation
2.5.1 Bottom-up Approach
Figure 5 Market Size Estimation Methodology: Bottom-up Approach
2.5.2 Top-down Approach
Figure 6 Market Size Estimation Methodology: Top-down Approach
2.5.3 Demand-side Analysis
2.5.3.1 Regional Analysis
2.5.3.2 Country-level Analysis
2.5.3.3 Assumptions For Demand-side Analysis
2.5.3.4 Calculations For Demand-side Analysis
2.5.4 Supply-side Analysis
Figure 7 Key Steps Considered To Assess Supply Of Grid-forming Inverters
Figure 8 Grid-forming Inverter Market: Supply-side Analysis
2.5.4.1 Assumptions For Supply-side Analysis
2.5.4.2 Calculations For Supply-side Analysis
Figure 9 Company Revenue Analysis, 2022
2.5.5 Growth Forecast
3 Executive Summary
Table 5 Grid-forming Inverter Market Snapshot
Figure 10 Below 50 Kw Segment To Dominate Grid-forming Inverter Market, By Power Rating, In 2028
Figure 11 300–500 V To Be Fastest-growing Segment In Grid-forming Inverter Market, By Voltage, During 2023–2028
Figure 12 Central Inverters To Exhibit Highest Cagr In Grid-forming Inverter Market, By Type, During Forecast Period
Figure 13 Solar Pv Plants To Hold Largest Share Of Grid-forming Inverter Market, By Application, In 2028
Figure 14 Asia Pacific Accounted For Largest Share Of Grid-forming Inverter Market In 2022
4 Premium Insights
4.1 Attractive Opportunities For Players In Grid-forming Inverter Market
Figure 15 Increasing Installation Of Renewable Energy Projects And Integration Of Clean Power Into Grids To Create Opportunities For Players In Grid-forming Inverter Market
4.2 Grid-forming Inverter Market In Asia Pacific, By Application And Country
Figure 16 Solar Pv Plants And China To Hold Largest Shares Of Grid-forming Inverter Market In Asia Pacific In 2033
4.3 Grid-forming Inverter Market, By Power Rating
Figure 17 Below 50 Kw Segment To Dominate Grid-forming Inverter Market In 2033
4.4 Grid-forming Inverter Market, By Voltage
Figure 18 Above 500 V Segment To Hold Largest Share Of Grid-forming Inverter Market In 2033
4.5 Grid-forming Inverter Market, By Type
Figure 19 Central Inverters To Lead Grid-forming Inverter Market In 2033
4.6 Grid-forming Inverter Market, By Application
Figure 20 Solar Pv Plants To Lead Grid-forming Inverter Market In 2033
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 21 Grid-forming Inverter Market: Drivers, Restraints, Opportunities, And Challenges
5.2.1 Drivers
5.2.1.1 Rising Investments In Renewable Energy Sector
Figure 22 Global Investments In Renewable Energy Sector
5.2.1.2 Growing Demand For Distributed Solar Energy Resources Supported By Government-led Incentives
Figure 23 Global Solar Pv Electricity Generation
5.2.2 Restraints
5.2.2.1 More Expensive Than Traditional Grid-following Inverters
5.2.2.2 Grid-forming Inverters Are Not Compatible With All Existing Grid Infrastructure
5.2.3 Opportunities
5.2.3.1 Rising Demand For Electric Vehicles
Figure 24 Annual Clean Energy Investments In Electric Vehicles
5.2.3.2 Growing Investments In Smart Grid Development
5.2.3.3 Growing Adoption Of High-power Density Inverters
5.2.4 Challenges
5.2.4.1 Incompatibility Of Control Algorithms Used By Grid-forming Inverters With Grid Operating Systems
5.2.4.2 Grid Codes And Regulations To Pose Challenge For Grid-forming Inverter Deployment
5.3 Trends/Disruptions Impacting Customer Business
5.3.1 Revenue Shift And New Revenue Pockets For Grid-forming Inverter Manufacturers
Figure 25 Revenue Shift And New Revenue Pockets For Players In Grid-forming Inverter Market
5.4 Technology Analysis
5.4.1 Advanced Control Algorithms
5.4.2 Improved Communication Protocols
5.4.3 New Hardware Architectures
5.4.4 Machine Learning
5.5 Key Conferences And Events, 2022–2023
Table 6 Grid-forming Inverter Market: Detailed List Of Conferences And Events
5.6 Market Map
Figure 26 Grid-forming Inverter Market Map
5.7 Value Chain Analysis
Figure 27 Grid-forming Inverter Market Value Chain
5.7.1 Research And Development
5.7.2 Component Providers
5.7.3 Manufacturers/Assemblers
5.7.4 System Integrators And Distributors
5.7.5 End Users
5.7.6 Post-sales Services
5.8 Innovations And Patent Registrations
Table 7 Grid-forming Inverter Market: Patents And Innovations
5.9 Average Selling Price Trend
Figure 28 Average Selling Price Of Grid-forming Inverters Of Different Output Power Ratings
5.10 Trade Data Statistics
Table 8 Electrical Static Converter Market: Import Statistics, 2019–2021 (Usd Million)
Table 9 Electrical Static Converter Market: Export Statistics, 2019–2021 (Usd Million)
5.11 Case Study Analysis
5.11.1 Achieve Reliable And Stable Grid Operation
5.11.1.1 Problem Statement
5.11.2 Enhance Stability And Flexibility Of Local Grid
5.11.3 Challenges Associated With Grid Stability
5.11.4 Maintaining Grid Stability
5.11.5 Regulatory Bodies, Government Agencies, And Other Organizations
Table 10 North America: List Of Regulatory Bodies, Government Agencies, And Other Organizations
Table 11 Europe: List Of Regulatory Bodies, Government Agencies, And Other Organizations
Table 12 Asia Pacific: List Of Regulatory Bodies, Government Agencies, And Other Organizations
Table 13 Row: List Of Regulatory Bodies, Government Agencies, And Other Organizations
Table 14 Global: List Of Regulatory Bodies, Government Agencies, And Other Organizations
5.11.6 Codes And Regulations Related To Grid-forming Inverters
Table 15 Global: Codes And Regulations
5.12 Porter’s Five Forces Analysis
Figure 29 Grid-forming Inverter Market: Porter’s Five Forces Analysis
Table 16 Grid-forming Inverter Market: Porter’s Five Forces Analysis
5.12.1 Threat Of New Entrants
5.12.2 Bargaining Power Of Suppliers
5.12.3 Bargaining Power Of Buyers
5.12.4 Threat Of Substitutes
5.12.5 Intensity Of Competitive Rivalry
5.13 Key Stakeholders And Buying Criteria
5.13.1 Key Stakeholders In Buying Process
Figure 30 Influence Of Stakeholders On Buying Process, By End User
Table 17 Influence Of Stakeholders On Buying Process, By End User (%)
5.13.2 Buying Criteria
Figure 31 Key Buying Criteria For End Users
Table 18 Key Buying Criteria, By End User
6 Grid-forming Inverter Market, By Voltage
6.1 Introduction
Figure 32 Grid-forming Inverter Market Share, By Voltage, 2022
Table 19 Grid-forming Inverter Market, By Voltage, 2021–2028 (Usd Million)
Table 20 Grid-forming Inverter Market, By Voltage, 2029–2033 (Usd Million)
6.2 100–300 V
6.2.1 Rising Electricity Demand From Residential Sector To Drive Market
Table 21 100–300 V: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 22 100–300 V: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
6.3 300–500 V
6.3.1 Need For Efficient Power Supply In Commercial Sector To Propel Market
Table 23 300–500 V: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 24 300–500 V: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
6.4 Above 500 V
6.4.1 Rising Investments In Development Of Utility-scale Renewable Power Projects To Support Market Growth
Table 25 Above 500 V: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 26 Above 500 V: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
7 Grid-forming Inverter Market, By Power Rating
7.1 Introduction
Figure 33 Grid-forming Inverter Market Share, By Power Rating, 2022
Table 27 Grid-forming Inverter Market, By Power Rating, 2021–2028 (Usd Million)
Table 28 Grid-forming Inverter Market, By Power Rating, 2029–2033 (Usd Million)
7.2 Below 50 Kw
7.2.1 Rising Demand For Below 50 Kw Inverters From Residential Applications To Drive Market
Table 29 Below 50 Kw: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 30 Below 50 Kw: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
7.3 50–100 Kw
7.3.1 Growing Demand For Grid-forming Inverters In Ev Charging Infrastructure To Boost Market Growth
Table 31 50–100 Kw: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 32 50–100 Kw: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
7.4 Above 100 Kw
7.4.1 Rising Number Of Pv Plants And Expanding Automotive Industry To Fuel Market Growth
Table 33 Above 100 Kw: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 34 Above 100 Kw: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
8 Grid-forming Inverter Market, By Type
8.1 Introduction
Figure 34 Grid-forming Inverter Market Share, By Type, 2022
Table 35 Grid-forming Inverter Market, By Type, 2021–2028 (Usd Million)
Table 36 Grid-forming Inverter Market, By Type, 2029–2033 (Usd Million)
8.2 Micro Inverters
8.2.1 Advanced Monitoring Capabilities Of Microgrid Inverters To Drive Market
Table 37 Micro Inverters: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 38 Micro Inverters: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
8.2.2 Central Inverters
8.2.2.1 Rising Demand For Central Inverters In Pv Plants To Fuel Market Growth
Table 39 Central Inverters: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 40 Central Inverters: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
8.2.3 String Inverters
8.2.3.1 Low Installation Costs For Solar Projects In Residential And Commercial Sectors To Boost Market
Table 41 String Inverters: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 42 String Inverters: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
9 Grid-forming Inverter Market, By Application
9.1 Introduction
Figure 35 Grid-forming Inverter Market Share, By Application, 2022
Table 43 Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 44 Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
9.2 Solar Pv Plants
9.2.1 Government-led Initiatives To Promote Installation Of Solar Power Plants To Foster Market Growth
Table 45 Solar Pv Plants: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 46 Solar Pv Plants: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
9.3 Wind Power Plants
9.3.1 Need To Integrate Offshore Wind Power With Power Supply Grid To Propel Market Growth
Table 47 Wind Power Plants: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 48 Wind Power Plants: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
9.4 Electric Vehicles
9.4.1 Rising Adoption Of Electric Vehicles As New Mode Of Transport To Fuel Demand
Table 49 Electric Vehicles: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 50 Electric Vehicles: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
9.5 Energy Storage Systems
9.5.1 Increasing Need For Energy Storage Systems To Support Power Grid To Drive Market
Table 51 Energy Storage Systems: Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 52 Energy Storage Systems: Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
10 Grid-forming Inverter Market, By Region
10.1 Introduction
Figure 36 Grid-forming Inverter Market, By Region, 2022
Figure 37 Grid-forming Inverter Market In Asia Pacific To Register Highest Cagr From 2023 To 2028
Table 53 Grid-forming Inverter Market, By Region, 2021–2028 (Usd Million)
Table 54 Grid-forming Inverter Market, By Region, 2029–2033 (Usd Million)
10.2 Asia Pacific
Figure 38 Asia Pacific: Grid-forming Inverter Market Snapshot
10.2.1 By Power Rating
Table 55 Asia Pacific: Grid-forming Inverter Market, By Power Rating, 2021–2028 (Usd Million)
Table 56 Asia Pacific: Grid-forming Inverter Market, By Power Rating, 2029–2033 (Usd Million)
10.2.2 By Voltage
Table 57 Asia Pacific: Grid-forming Inverter Market, By Voltage, 2021–2028 (Usd Million)
Table 58 Asia Pacific: Grid-forming Inverter Market, By Voltage, 2029–2033 (Usd Million)
10.2.3 By Type
Table 59 Asia Pacific: Grid-forming Inverter Market, By Type, 2021–2028 (Usd Million)
Table 60 Asia Pacific: Grid-forming Inverter Market, By Type, 2029–2033 (Usd Million)
10.2.4 By Application
Table 61 Asia Pacific: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 62 Asia Pacific: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.2.5 By Country
Table 63 Asia Pacific: Grid-forming Inverter Market, By Country, 2021–2028 (Usd Million)
Table 64 Asia Pacific: Grid-forming Inverter Market, By Country, 2029–2033 (Usd Million)
10.2.5.1 China
10.2.5.1.1 Favorable Government Policies Supporting Renewable Energy Projects To Drive Demand
Table 65 China: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 66 China: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.2.5.2 India
10.2.5.2.1 Rising Number Of Solar Rooftop Installations And Increasing Power Shortage To Fuel Market Growth
Table 67 India: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 68 India: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.2.5.3 Japan
10.2.5.3.1 Increasing Investments In Residential And Pv Utility-scale Sectors To Drive Market
Table 69 Japan: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 70 Japan: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.2.5.4 Australia
10.2.5.4.1 Presence Of Favorable Government Policies For Solar Energy Generation To Boost Solar Inverter Market
Table 71 Australia: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 72 Australia: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.2.5.5 South Korea
10.2.5.5.1 Reduced Dependency On Fossil Fuels And Increased Clean Energy Use To Propel Market Growth
Table 73 South Korea: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 74 South Korea: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.2.5.6 Rest Of Asia Pacific
Table 75 Rest Of Asia Pacific: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 76 Rest Of Asia Pacific: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.2.6 Recession Impact On Grid-forming Market In Asia Pacific
10.3 Europe
Figure 39 Europe: Grid-forming Inverter Market Snapshot
10.3.1 By Power Rating
Table 77 Europe: Grid-forming Inverter Market, By Power Rating, 2021–2028 (Usd Million)
Table 78 Europe: Grid-forming Inverter Market, By Power Rating, 2029–2033 (Usd Million)
10.3.2 By Voltage
Table 79 Europe: Grid-forming Inverter Market, By Voltage, 2021–2028 (Usd Million)
Table 80 Europe: Grid-forming Inverter Market, By Voltage, 2029–2033 (Usd Million)
10.3.3 By Type
Table 81 Europe: Grid-forming Inverter Market, By Type, 2021–2028 (Usd Million)
Table 82 Europe: Grid-forming Inverter Market, By Type, 2029–2033 (Usd Million)
10.3.4 By Application
Table 83 Europe: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 84 Europe: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.3.5 By Country
Table 85 Europe: Grid-forming Inverter Market, By Country, 2021–2028 (Usd Million)
Table 86 Europe: Grid-forming Inverter Market, By Country, 2029–2033 (Usd Million)
10.3.5.1 Spain
10.3.5.1.1 Favorable Investments In Renewable Energy To Fuel Market Growth
Table 87 Spain: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 88 Spain: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.3.5.2 Germany
10.3.5.2.1 Rise In Number Of Solar Power Projects To Support Market Growth
Table 89 Germany: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 90 Germany: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.3.5.3 France
10.3.5.3.1 Government Support For Utilizing Renewable Energy For Power Generation To Drive Market
Table 91 France: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 92 France: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.3.5.4 Netherlands
10.3.5.4.1 Favorable Government Policies For Offshore Wind Energy Projects To Boost Market Growth
Table 93 Netherlands: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 94 Netherlands: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.3.5.5 Italy
10.3.5.5.1 Transition To More Sustainable And Low-carbon Energy System To Fuel Market Growth
Table 95 Italy: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 96 Italy: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.3.5.6 Uk
10.3.5.6.1 Modernization Of Electricity Grid To Accommodate New Technologies To Foster Market Growth
Table 97 Uk: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 98 Uk: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.3.5.7 Rest Of Europe
Table 99 Rest Of Europe: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 100 Rest Of Europe: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.3.6 Recession Impact On Grid-forming Inverter Market In Europe
10.4 North America
10.4.1 By Power Rating
Table 101 North America: Grid-forming Inverter Market, By Power Rating, 2021–2028 (Usd Million)
Table 102 North America: Grid-forming Inverter Market, By Power Rating, 2029–2033 (Usd Million)
10.4.2 By Voltage
Table 103 North America: Grid-forming Inverter Market, By Voltage, 2021–2028 (Usd Million)
Table 104 North America: Grid-forming Inverter Market, By Voltage, 2029–2033 (Usd Million)
10.4.3 By Type
Table 105 North America: Grid-forming Inverter Market, By Type, 2021–2028 (Usd Million)
Table 106 North America: Grid-forming Inverter Market, By Type, 2029–2033 (Usd Million)
10.4.4 By Application
Table 107 North America: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 108 North America: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.4.5 By Country
Table 109 North America: Grid-forming Inverter Market, By Country, 2021–2028 (Usd Million)
Table 110 North America: Grid-forming Inverter Market, By Country, 2029–2033 (Usd Million)
10.4.5.1 Us
10.4.5.1.1 Expanding Power Sector To Support Market Growth
Table 111 Us: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 112 Us: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.4.5.2 Canada
10.4.5.2.1 Accelerating Renewable Energy Transition To Boost Market Growth
Table 113 Canada: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 114 Canada: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.4.5.3 Mexico
10.4.5.3.1 Grid Modernization With Clean Power To Drive Demand For Grid-forming Generators
Table 115 Mexico: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 116 Mexico: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.4.6 Recession Impact On Grid-forming Inverter Market In North America
10.5 South America
10.5.1 By Power Rating
Table 117 South America: Grid-forming Inverter Market, By Power Rating, 2021–2028 (Usd Million)
Table 118 South America: Grid-forming Inverter Market, By Power Rating, 2029–2033 (Usd Million)
10.5.2 By Voltage
Table 119 South America: Grid-forming Inverter Market, By Voltage, 2021–2028 (Usd Million)
Table 120 South America: Grid-forming Inverter Market, By Voltage, 2029–2033 (Usd Million)
10.5.3 By Type
Table 121 South America: Grid-forming Inverter Market, By Type, 2021–2028 (Usd Million)
Table 122 South America: Grid-forming Inverter Market, By Type, 2029–2033 (Usd Million)
10.5.4 By Application
Table 123 South America: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 124 South America: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.5.5 By Country
Table 125 South America: Grid-forming Inverter Market, By Country, 2021–2028 (Usd Million)
Table 126 South America: Grid-forming Inverter Market, By Country, 2029–2033 (Usd Million)
10.5.5.1 Brazil
10.5.5.1.1 Increasing Investments In Solar Energy Technology To Propel Demand For Grid-forming Inverters
Table 127 Brazil: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 128 Brazil: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.5.5.2 Argentina
10.5.5.2.1 Transition To Renewable Energy To Meet Energy Demand To Drive Market
Table 129 Argentina: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 130 Argentina: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.5.5.3 Chile
10.5.5.3.1 Need To Integrate Clean Energy Into The Power Grid To Support Market Growth
Table 131 Chile: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 132 Chile: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.5.5.4 Rest Of South America
Table 133 Rest Of South America: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 134 Rest Of South America: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.5.6 Recession Impact On Grid-forming Inverter Market In South America
10.6 Middle East & Africa
10.6.1 By Power Rating
Table 135 Middle East & Africa: Grid-forming Inverter Market, By Power Rating, 2021–2028 (Usd Million)
Table 136 Middle East & Africa: Grid-forming Inverter Market, By Power Rating, 2029–2033 (Usd Million)
10.6.2 By Voltage
Table 137 Middle East & Africa: Grid-forming Inverter Market, By Voltage, 2021–2028 (Usd Million)
Table 138 Middle East & Africa: Grid-forming Inverter Market, By Voltage, 2029–2033 (Usd Million)
10.6.3 By Type
Table 139 Middle East & Africa: Grid-forming Inverter Market, By Type, 2021–2028 (Usd Million)
Table 140 Middle East & Africa: Grid-forming Inverter Market, By Type, 2029–2033 (Usd Million)
10.6.4 By Application
Table 141 Middle East & Africa: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 142 Middle East & Africa: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.6.5 By Country
Table 143 Middle East & Africa: Grid-forming Inverter Market, By Country, 2021–2028 (Usd Million)
Table 144 Middle East & Africa: Grid-forming Inverter Market, By Country, 2029–2033 (Usd Million)
10.6.5.1 Saudi Arabia
10.6.5.1.1 Increasing Investments In Ev Sector And Favorable Government Initiatives To Drive Market
Table 145 Saudi Arabia: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 146 Saudi Arabia: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.6.5.2 Turkey
10.6.5.2.1 Prioritizing Renewable Energy Sources For Power Generation To Fuel Demand For Grid-forming Inverters
Table 147 Turkey: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 148 Turkey: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.6.5.3 Egypt
10.6.5.3.1 Transition To Sustainable Electricity Sector To Drive Demand For Grid-forming Inverters
Table 149 Egypt: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 150 Egypt: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.6.5.4 South Africa
10.6.5.4.1 Active Investments In Large-scale Solar Power Projects To Fuel Market Growth
Table 151 South Africa: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 152 South Africa: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.6.5.5 Rest Of Middle East & Africa
Table 153 Rest Of Middle East & Africa: Grid-forming Inverter Market, By Application, 2021–2028 (Usd Million)
Table 154 Rest Of Middle East & Africa: Grid-forming Inverter Market, By Application, 2029–2033 (Usd Million)
10.6.6 Recession Impact On Grid-forming Inverter Market In Middle East & Africa
11 Competitive Landscape
11.1 Strategies Adopted By Key Players/Right To Win
Table 155 Overview Of Strategies Adopted By Top Players, January 2019–march 2023
11.2 Market Share Analysis Of Top Five Players
Figure 40 Grid-forming Inverter Market Share Analysis, 2022
11.3 Revenue Analysis Of Top Five Market Players
Figure 41 Top Players In Grid-forming Inverter Market From 2018 To 2022

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$10,000

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