The Latin America, Middle East and Africa Grid-Forming Inverter Market would witness market growth of 12.1% CAGR during the forecast period (2023-2030).
Inverters provide the interface between grid and energy sources like solar panels, wind turbines, and storage. Conventional inverters will turn off the electricity to these energy sources whenever there is a significant disruption or outage on the grid. They will then wait for a signal from the rest of the grid indicating that the disruption has been resolved and that it is safe to restart. This process is referred to as "grid-following." As wind and solar account for increasing shares of the overall electricity supply, it is becoming impractical to depend on the rest of the grid to manage disturbances. Grid-forming inverters are a relatively new technology that, when combined with other inverter-based energy sources, can allow solar power to independently restart the power grid.
The fast growth of infrastructure for charging electric vehicles (EVs) is driving up demand for smaller power distribution networks (microgrids). Microgrids offer a feasible solution by integrating localized power generation and distribution, effectively managing the additional electricity load from EV charging. Grid-forming inverters are a key technology component in microgrids, especially in islanded mode where the microgrid operates independently from the main grid.
Microgrids alleviate grid congestion and mitigate the need for costly grid upgrades by optimizing energy generation, distribution, and load management. In addition, electric vehicle charging stations are often a contributor to times of peak demand, which results in increased electricity bills. Microgrids that are outfitted with sophisticated load management capabilities enable effective charging schedule optimization and load balancing. This helps to reduce peak demand, which in turn improves grid stability and lowers overall charging costs.
The Dubai Water and Electricity Authority (DEWA) projects that by 2025, there will be 12,852 electric vehicles operating in Dubai, up from an estimated 7,331 in 2023. This supports Dubai's Green Mobility Strategy 2030, which mandates that by 2030, 30% of public sector vehicles and 10% of all vehicle sales must be electric or hybrid. Therefore, with rise in the number of electric vehicle and usage of renewable energy, the grid-forming inverter market is estimated to grow.
The Brazil market dominated the LAMEA Grid-forming Inverter Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $23.1 million by 2030. The Argentina market is showcasing a CAGR of 12.7% during (2023 - 2030). Additionally, The UAE market would grow at a CAGR of 11.8% during (2023 - 2030).
Based on Application, the market is segmented into Solar PV Plants, Wind Power Plants, Energy Storage Systems, and Electric Vehicles. Based on Type, the market is segmented into Central Inverter, Micro Inverter, and String Inverter. Based on Voltage, the market is segmented into Above 500 V, 300 - 500 V, and 100 - 300 V. Based on Power Rating, the market is segmented into Below 50 KW, 50 - 100 KW, and Above 100 KW. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Grid-forming Inverter Market is Projected to reach USD 1.2 Billion by 2030, at a CAGR of 9.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), SolarEdge Technologies, Inc., Enphase Energy, Inc., Schneider Electric SE, General Electric Company, Delta Electronics, Inc., Sungrow Power Supply Co., Ltd., Fimer Group, KACO new energy GmbH and GoodWe.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Solar PV Plants
- Wind Power Plants
- Energy Storage Systems
- Electric Vehicles
By Type
- Central Inverter
- Micro Inverter
- String Inverter
By Voltage
- Above 500 V
- 300 - 500 V
- 100 - 300 V
By Power Rating
- Below 50 KW
- 50 - 100 KW
- Above 100 KW
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- SolarEdge Technologies, Inc.
- Enphase Energy, Inc.
- Schneider Electric SE
- General Electric Company
- Delta Electronics, Inc.
- Sungrow Power Supply Co., Ltd.
- Fimer Group
- KACO new energy GmbH
- GoodWe
TABLE 1 LAMEA Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 3 LAMEA Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 4 LAMEA Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 5 LAMEA Solar PV Plants Market by Country, 2019 - 2022, USD Million
TABLE 6 LAMEA Solar PV Plants Market by Country, 2023 - 2030, USD Million
TABLE 7 LAMEA Wind Power Plants Market by Country, 2019 - 2022, USD Million
TABLE 8 LAMEA Wind Power Plants Market by Country, 2023 - 2030, USD Million
TABLE 9 LAMEA Energy Storage Systems Market by Country, 2019 - 2022, USD Million
TABLE 10 LAMEA Energy Storage Systems Market by Country, 2023 - 2030, USD Million
TABLE 11 LAMEA Electric Vehicles Market by Country, 2019 - 2022, USD Million
TABLE 12 LAMEA Electric Vehicles Market by Country, 2023 - 2030, USD Million
TABLE 13 LAMEA Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 14 LAMEA Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 15 LAMEA Central Inverter Market by Country, 2019 - 2022, USD Million
TABLE 16 LAMEA Central Inverter Market by Country, 2023 - 2030, USD Million
TABLE 17 LAMEA Micro Inverter Market by Country, 2019 - 2022, USD Million
TABLE 18 LAMEA Micro Inverter Market by Country, 2023 - 2030, USD Million
TABLE 19 LAMEA String Inverter Market by Country, 2019 - 2022, USD Million
TABLE 20 LAMEA String Inverter Market by Country, 2023 - 2030, USD Million
TABLE 21 LAMEA Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 22 LAMEA Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 23 LAMEA Above 500 V Market by Country, 2019 - 2022, USD Million
TABLE 24 LAMEA Above 500 V Market by Country, 2023 - 2030, USD Million
TABLE 25 LAMEA 300 - 500 V Market by Country, 2019 - 2022, USD Million
TABLE 26 LAMEA 300 - 500 V Market by Country, 2023 - 2030, USD Million
TABLE 27 LAMEA 100 - 300 V Market by Country, 2019 - 2022, USD Million
TABLE 28 LAMEA 100 - 300 V Market by Country, 2023 - 2030, USD Million
TABLE 29 LAMEA Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 30 LAMEA Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 31 LAMEA Below 50 KW Market by Country, 2019 - 2022, USD Million
TABLE 32 LAMEA Below 50 KW Market by Country, 2023 - 2030, USD Million
TABLE 33 LAMEA 50 - 100 KW Market by Country, 2019 - 2022, USD Million
TABLE 34 LAMEA 50 - 100 KW Market by Country, 2023 - 2030, USD Million
TABLE 35 LAMEA Above 100 KW Market by Country, 2019 - 2022, USD Million
TABLE 36 LAMEA Above 100 KW Market by Country, 2023 - 2030, USD Million
TABLE 37 LAMEA Grid-forming Inverter Market by Country, 2019 - 2022, USD Million
TABLE 38 LAMEA Grid-forming Inverter Market by Country, 2023 - 2030, USD Million
TABLE 39 Brazil Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 40 Brazil Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 41 Brazil Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 42 Brazil Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 43 Brazil Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 44 Brazil Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 45 Brazil Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 46 Brazil Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 47 Brazil Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 48 Brazil Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 49 Argentina Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 50 Argentina Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 51 Argentina Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 52 Argentina Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 53 Argentina Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 54 Argentina Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 55 Argentina Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 56 Argentina Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 57 Argentina Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 58 Argentina Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 59 UAE Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 60 UAE Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 61 UAE Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 62 UAE Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 63 UAE Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 64 UAE Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 65 UAE Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 66 UAE Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 67 UAE Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 68 UAE Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 69 Saudi Arabia Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 70 Saudi Arabia Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 71 Saudi Arabia Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 72 Saudi Arabia Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 73 Saudi Arabia Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 74 Saudi Arabia Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 75 Saudi Arabia Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 76 Saudi Arabia Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 77 Saudi Arabia Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 78 Saudi Arabia Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 79 South Africa Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 80 South Africa Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 81 South Africa Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 82 South Africa Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 83 South Africa Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 84 South Africa Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 85 South Africa Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 86 South Africa Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 87 South Africa Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 88 South Africa Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 89 Nigeria Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 90 Nigeria Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 91 Nigeria Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 92 Nigeria Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 93 Nigeria Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 94 Nigeria Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 95 Nigeria Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 96 Nigeria Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 97 Nigeria Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 98 Nigeria Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 99 Rest of LAMEA Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 100 Rest of LAMEA Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 101 Rest of LAMEA Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 102 Rest of LAMEA Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 103 Rest of LAMEA Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 104 Rest of LAMEA Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 105 Rest of LAMEA Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 106 Rest of LAMEA Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 107 Rest of LAMEA Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 108 Rest of LAMEA Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 109 Key Information – Huawei Technologies Co., Ltd.
TABLE 110 Key information – SolarEdge Technologies, Inc.
TABLE 111 Key information – Enphase Energy, Inc.
TABLE 112 Key information – Schneider Electric SE
TABLE 113 Key Information – General Electric Company
TABLE 114 Key Information – Delta Electronics, Inc.
TABLE 115 Key Information – Sungrow Power Supply Co., Ltd.
TABLE 116 Key Information – Fimer Group
TABLE 117 Key Information – KACO new energy GmbH
TABLE 118 Key Information – GoodWe
List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Grid-forming Inverter Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Grid-forming Inverter Market
FIG 4 Market Share Analysis, 2022
FIG 5 Porter’s Five Forces Analysis - Grid-forming Inverter Market
FIG 6 LAMEA Grid-forming Inverter Market share by Application, 2022
FIG 7 LAMEA Grid-forming Inverter Market share by Application, 2030
FIG 8 LAMEA Grid-forming Inverter Market by Application, 2019 - 2030, USD Million
FIG 9 LAMEA Grid-forming Inverter Market share by Type, 2022
FIG 10 LAMEA Grid-forming Inverter Market share by Type, 2030
FIG 11 LAMEA Grid-forming Inverter Market by Type, 2019 - 2030, USD Million
FIG 12 LAMEA Grid-forming Inverter Market share by Voltage, 2022
FIG 13 LAMEA Grid-forming Inverter Market share by Voltage, 2030
FIG 14 LAMEA Grid-forming Inverter Market by Voltage, 2019 - 2030, USD Million
FIG 15 LAMEA Grid-forming Inverter Market share by Power Rating, 2022
FIG 16 LAMEA Grid-forming Inverter Market share by Power Rating, 2030
FIG 17 LAMEA Grid-forming Inverter Market by Power Rating, 2019 - 2030, USD Million
FIG 18 LAMEA Grid-forming Inverter Market share by Country, 2022
FIG 19 LAMEA Grid-forming Inverter Market share by Country, 2030
FIG 20 LAMEA Grid-forming Inverter Market by Country, 2019 - 2030, USD Million
FIG 21 SWOT Analysis: Huawei Investment & Holding Co., Ltd
FIG 22 SWOT Analysis: SolarEdge Technologies, Inc.
FIG 23 Recent strategies and developments: Enphase Energy, Inc.
FIG 24 SWOT Analysis: Enphase Energy, Inc.
FIG 25 SWOT Analysis: Schneider Electric SE
FIG 26 SWOT Analysis: General electric (GE) Co.
FIG 27 SWOT Analysis: Delta Electronics, Inc.
FIG 28 SWOT Analysis: Sungrow Power Supply Co., Ltd.
FIG 29 SWOT Analysis: Fimer Group
FIG 30 SWOT Analysis: KACO new energy GmbH
FIG 31 SWOT Analysis: GoodWe