Grid-forming Inverter Market Research Report Information By Type (micro inverters, string inverters and central inverters), By Power Rating (below 50 kW, 50-100 kW, and above 100 kW), By Voltage (100-300 V, 300-500 V and above 500 V) By End User (Resident

Grid-forming Inverter Market Research Report Information By Type (micro inverters, string inverters and central inverters), By Power Rating (below 50 kW, 50-100 kW, and above 100 kW), By Voltage (100-300 V, 300-500 V and above 500 V) By End User (Residential, Commercial, Others) and By Region Global Grid-forming Inverter Forecast to 2030

The Grid-forming Inverter Market industry is predicted to increase from USD 712.17 million in 2023 to USD 1,277.3 million by 2030, displaying a compound yearly growth rate (CAGR) of 8.70% during the forecast period. Increasing investments in the renewable energy industry and rapid infrastructural development and growing demand for reliable energy sources are likely to boost the growth of the Grid-forming Inverter market over the forecast length. In addition, Significant market growth potential of electric vehicle sector provide a lucrative opportunity to the manufacturers in the market.

With increased environmental concerns, there has been a movement in emphasis toward renewable energy globally. Various countries' governments have expanded their investments in supply of clean energy incentive programs for renewable energy development, which is anticipated to be a key driver for the worldwide grid-forming inverters market in the years to come. Many nations have built substantial policy frameworks to assist renewable energy, resulting in fast technological scaling-up. Renewable energy sources play a vital role in assuring sustainable energy with decreased emissions. Renewable energy technologies are already considered to have the ability to greatly cover power demand while lowering emissions. Furthermore, technical developments have boosted the efficiency and cost-effectiveness of renewable energy systems. Solar photovoltaic (PV) panels, wind turbines, and energy storage devices have all undergone considerable developments, resulting in improved energy yields and cheaper prices per unit of energy generated.

Market Segment Insights

Based on type, the Grid-forming Inverter Market has been split into micro inverters, string inverters and central inverters. Based on the power rating, the Market has been categorized into below 50 kW, 50-100 kW, and above 100 kW.

The Market has been divided into 100–300 V, 300–500 V, and over 500 V segments according to voltage. Residential, commercial, and others are the market segments based on end user.

Overview of the Regions

Over the forecast period, the Grid-forming Inverter Market is expected to be driven by the Asia-Pacific region. By 2030, the target region should have a total incremental potential of USD 470.19 million.

The increasing adoption of energy storage systems, especially battery storage solutions, is propelling major changes in the Asia-Pacific Grid-forming Inverter Market. All around Asia, the use of energy storage technologies—including battery storage—is picking up steam. A key component in effective use of renewable energy sources is played by these systems. Energy storage helps to maintain grid stability and facilitates the smooth integration of renewable energy into the electricity system by storing excess renewable energy during times of high production and releasing it when demand rises. Managing the erratic nature of sources like solar and wind makes this ability very crucial. Governments around the Asia-Pacific region is aggressively introducing and revising policies to make it easier to include renewable energy into the grid. Aspects of the integration of renewable energy are covered by these regulatory frameworks, which also cover grid connection protocols, grid access for renewable energy projects, and market-based trading of renewable energy.

Key Players

Key participants in the Grid-forming Inverter Market are Gamesa Electric, Fimer Group, Delta Electronics, Inc., Solectria Solar, ABB, SolarEdge Technologies Inc., General Electric, and Sineng Electric Co Ltd.