According to a new report, published by KBV research, The Global Grid-Forming Inverter Market size is expected to reach $1.2 billion by 2030, rising at a market growth of 9.2% CAGR during the forecast period.
The Solar PV Plants segment is generating the highest revenue in the Global Grid-forming Inverter Market by Application in 2022; thereby, achieving a market value of $405.5 million by 2030. Grid-forming solar PV inverters are specialist inverters with grid-integration capabilities that make integrating solar photovoltaic (PV) installations into the electrical grid easier. Modern energy systems depend heavily on solar PV grid-forming inverters, especially in areas with high renewable energy penetration and the growth of microgrids and distributed energy resources.
The Central Inverter would showcase a CAGR of 8.7% during the forecast period. In large-scale renewable energy installations, central grid-forming inverters are typically less expensive per watt. Central inverters have gained popularity as the solar industry aims to lower system costs. Technology developments have increased the efficiency and performance of central inverters, increasing their appeal to project developers seeking the highest possible energy yield from their power generation sources.
The Above 500 V segment is leading the Global Grid-forming Inverter Market by Voltage in 2022, thereby achieving a market value of $467.2 million by 2030. Grid-forming inverters above 500 V are frequently employed in utility-scale renewable energy projects, including sizable solar and wind farms. These inverters can handle high power capacity, which can also effectively integrate the generated electricity into the grid. Due to the rising adoption of large-scale renewable energy projects and the need for high-capacity inverters to support them, the demand for above 500 V grid-forming inverters is experiencing substantial expansion.
The 50 - 100 KW segment is registering a CAGR of 9.4% during (2023 - 2030). The demand for grid-forming inverters in the 50-100 kW range has increased as solar PV systems and small to medium-sized wind turbines are increasingly used in commercial and industrial applications. These inverters are crucial for efficiently integrating renewable energy into the grid and maintaining grid stability. With a balance between capacity and cost-effectiveness, grid-forming inverters in the 50-100 kW range are appropriate for various commercial and industrial applications.
The Asia Pacific region dominated the Global Grid-forming Inverter Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $487.8 million by 2030. The Europe region is poised to grow at a CAGR of 8.4% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 8.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/grid-forming-inverter-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
By Application
By Type
By Voltage
By Power Rating
By Geography
Companies Profiled
Unique Offerings 
