The North America Grid-Forming Inverter Market would witness market growth of 8.7% CAGR during the forecast period (2023-2030).
As the penetration of inverter-based renewable energy (IBRE) resources continues to increase, grids' dynamics and control strategies have undergone significant advancements. Among these advancements, grid-forming inverters (GFI) have emerged as groundbreaking technology with the potential to revolutionize electricity generation, distribution, and consumption.
GFI technology finds widespread application in battery energy storage systems (BESS), wind power plants, solar PV plants, and hybrid plants, showcasing its versatility and effectiveness in optimizing energy systems and enhancing grid stability. While the understanding of grid-forming inverter controls is still evolving, they hold tremendous promise for enhancing the performance of bulk power systems. With the rise of renewable energy sources and the growing complexity of power grids, traditional approaches to system operation face new challenges. The market is paving the way for the seamless integration of renewable energy, energy storage, and grid stability.
The need for grid-forming inverters becomes more pronounced as the region shifts towards greater adoption of renewable energy sources like solar and wind. These inverters are crucial in stabilizing the grid and facilitating the smooth integration of intermittent renewable energy into the existing power infrastructure.
Canada is one of the leaders in using clean globally. In 2019, hydro, wind, solar, and other sources like biomass, geothermal, and marine/tidal wave energy comprised about 65% of the total electricity generated. Historically, Canada's primary energy source has been hydropower, which produces around 60% of the nation's electricity. By 2035, the Canada Energy Regulator (CER) predicts that renewable sources will account for 12% of all power generation. Additionally, approximately 135 GW of installed electrical generation capacity across all sources was present in Canada in 2017, and by 2035, that capacity is expected to increase to 170 GW. As a result of this surging demand for EVs and hybrid vehicles and the growing renewable energy sector in the North America region, the market is predicted to witness significant growth.
The US market dominated the North America Grid-forming Inverter Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $237.1 million by 2030. The Canada market would exhibit a CAGR of 11.1% during (2023 - 2030). Additionally, The Mexico market is experiencing a CAGR of 10.2% 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 U.S., Mexico, Canada, and Rest of North America.
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
- US
- Canada
- Mexico
- Rest of North America
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
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Grid-forming Inverter Market, by Application
1.4.2 North America Grid-forming Inverter Market, by Type
1.4.3 North America Grid-forming Inverter Market, by Voltage
1.4.4 North America Grid-forming Inverter Market, by Power Rating
1.4.5 North America Grid-forming Inverter Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2022
4.2 Strategies Deployed in Grid-forming Inverter Market
4.3 Porter’s Five Forces Analysis
Chapter 5. North America Grid-forming Inverter Market by Application
5.1 North America Solar PV Plants Market by Country
5.2 North America Wind Power Plants Market by Country
5.3 North America Energy Storage Systems Market by Country
5.4 North America Electric Vehicles Market by Country
Chapter 6. North America Grid-forming Inverter Market by Type
6.1 North America Central Inverter Market by Country
6.2 North America Micro Inverter Market by Country
6.3 North America String Inverter Market by Country
Chapter 7. North America Grid-forming Inverter Market by Voltage
7.1 North America Above 500 V Market by Country
7.2 North America 300 - 500 V Market by Country
7.3 North America 100 - 300 V Market by Country
Chapter 8. North America Grid-forming Inverter Market by Power Rating
8.1 North America Below 50 KW Market by Country
8.2 North America 50 - 100 KW Market by Country
8.3 North America Above 100 KW Market by Country
Chapter 9. North America Grid-forming Inverter Market by Country
9.1 US Grid-forming Inverter Market
9.1.1 US Grid-forming Inverter Market by Application
9.1.2 US Grid-forming Inverter Market by Type
9.1.3 US Grid-forming Inverter Market by Voltage
9.1.4 US Grid-forming Inverter Market by Power Rating
9.2 Canada Grid-forming Inverter Market
9.2.1 Canada Grid-forming Inverter Market by Application
9.2.2 Canada Grid-forming Inverter Market by Type
9.2.3 Canada Grid-forming Inverter Market by Voltage
9.2.4 Canada Grid-forming Inverter Market by Power Rating
9.3 Mexico Grid-forming Inverter Market
9.3.1 Mexico Grid-forming Inverter Market by Application
9.3.2 Mexico Grid-forming Inverter Market by Type
9.3.3 Mexico Grid-forming Inverter Market by Voltage
9.3.4 Mexico Grid-forming Inverter Market by Power Rating
9.4 Rest of North America Grid-forming Inverter Market
9.4.1 Rest of North America Grid-forming Inverter Market by Application
9.4.2 Rest of North America Grid-forming Inverter Market by Type
9.4.3 Rest of North America Grid-forming Inverter Market by Voltage
9.4.4 Rest of North America Grid-forming Inverter Market by Power Rating
Chapter 10. Company Profiles
10.1 Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.6 SWOT Analysis
10.2 SolarEdge Technologies, Inc.
10.2.1 Company Overview
10.2.2 Recent strategies and developments:
10.2.2.1 Partnerships, Collaborations, and Agreements:
10.2.3 SWOT Analysis
10.3 Enphase Energy, Inc.
10.3.1 Company Overview
10.3.2 Recent strategies and developments:
10.3.2.1 Partnerships, Collaborations, and Agreements:
10.3.2.2 Product Launches and Product Expansions:
10.3.3 SWOT Analysis
10.4 Schneider Electric SE
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expense
10.4.5 SWOT Analysis
10.5 General Electric Company
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 SWOT Analysis
10.6 Delta Electronics, Inc.
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Research & Development Expense
10.6.4 SWOT Analysis
10.7 Sungrow Power Supply Co., Ltd.
10.7.1 Company Overview
10.7.2 SWOT Analysis
10.8 Fimer Group
10.8.1 Company Overview
10.8.2 Recent strategies and developments:
10.8.2.1 Partnerships, Collaborations, and Agreements:
10.8.3 SWOT Analysis
10.9 KACO new energy GmbH (Siemens AG)
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental and Regional Analysis
10.9.4 Research & Development Expenses
10.9.5 SWOT Analysis
10.10. GoodWe
10.10.1 Company Overview
10.10.2 SWOT Analysis
TABLE 1 North America Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 2 North America Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 3 North America Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 4 North America Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 5 North America Solar PV Plants Market by Country, 2019 - 2022, USD Million
TABLE 6 North America Solar PV Plants Market by Country, 2023 - 2030, USD Million
TABLE 7 North America Wind Power Plants Market by Country, 2019 - 2022, USD Million
TABLE 8 North America Wind Power Plants Market by Country, 2023 - 2030, USD Million
TABLE 9 North America Energy Storage Systems Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Energy Storage Systems Market by Country, 2023 - 2030, USD Million
TABLE 11 North America Electric Vehicles Market by Country, 2019 - 2022, USD Million
TABLE 12 North America Electric Vehicles Market by Country, 2023 - 2030, USD Million
TABLE 13 North America Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 14 North America Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 15 North America Central Inverter Market by Country, 2019 - 2022, USD Million
TABLE 16 North America Central Inverter Market by Country, 2023 - 2030, USD Million
TABLE 17 North America Micro Inverter Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Micro Inverter Market by Country, 2023 - 2030, USD Million
TABLE 19 North America String Inverter Market by Country, 2019 - 2022, USD Million
TABLE 20 North America String Inverter Market by Country, 2023 - 2030, USD Million
TABLE 21 North America Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 22 North America Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 23 North America Above 500 V Market by Country, 2019 - 2022, USD Million
TABLE 24 North America Above 500 V Market by Country, 2023 - 2030, USD Million
TABLE 25 North America 300 - 500 V Market by Country, 2019 - 2022, USD Million
TABLE 26 North America 300 - 500 V Market by Country, 2023 - 2030, USD Million
TABLE 27 North America 100 - 300 V Market by Country, 2019 - 2022, USD Million
TABLE 28 North America 100 - 300 V Market by Country, 2023 - 2030, USD Million
TABLE 29 North America Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 30 North America Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 31 North America Below 50 KW Market by Country, 2019 - 2022, USD Million
TABLE 32 North America Below 50 KW Market by Country, 2023 - 2030, USD Million
TABLE 33 North America 50 - 100 KW Market by Country, 2019 - 2022, USD Million
TABLE 34 North America 50 - 100 KW Market by Country, 2023 - 2030, USD Million
TABLE 35 North America Above 100 KW Market by Country, 2019 - 2022, USD Million
TABLE 36 North America Above 100 KW Market by Country, 2023 - 2030, USD Million
TABLE 37 North America Grid-forming Inverter Market by Country, 2019 - 2022, USD Million
TABLE 38 North America Grid-forming Inverter Market by Country, 2023 - 2030, USD Million
TABLE 39 US Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 40 US Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 41 US Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 42 US Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 43 US Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 44 US Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 45 US Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 46 US Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 47 US Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 48 US Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 49 Canada Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 50 Canada Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 51 Canada Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 52 Canada Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 53 Canada Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 54 Canada Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 55 Canada Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 56 Canada Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 57 Canada Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 58 Canada Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 59 Mexico Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 60 Mexico Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 61 Mexico Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 62 Mexico Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 63 Mexico Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 64 Mexico Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 65 Mexico Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 66 Mexico Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 67 Mexico Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 68 Mexico Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 69 Rest of North America Grid-forming Inverter Market, 2019 - 2022, USD Million
TABLE 70 Rest of North America Grid-forming Inverter Market, 2023 - 2030, USD Million
TABLE 71 Rest of North America Grid-forming Inverter Market by Application, 2019 - 2022, USD Million
TABLE 72 Rest of North America Grid-forming Inverter Market by Application, 2023 - 2030, USD Million
TABLE 73 Rest of North America Grid-forming Inverter Market by Type, 2019 - 2022, USD Million
TABLE 74 Rest of North America Grid-forming Inverter Market by Type, 2023 - 2030, USD Million
TABLE 75 Rest of North America Grid-forming Inverter Market by Voltage, 2019 - 2022, USD Million
TABLE 76 Rest of North America Grid-forming Inverter Market by Voltage, 2023 - 2030, USD Million
TABLE 77 Rest of North America Grid-forming Inverter Market by Power Rating, 2019 - 2022, USD Million
TABLE 78 Rest of North America Grid-forming Inverter Market by Power Rating, 2023 - 2030, USD Million
TABLE 79 Key Information – Huawei Technologies Co., Ltd.
TABLE 80 Key information – SolarEdge Technologies, Inc.
TABLE 81 Key information – Enphase Energy, Inc.
TABLE 82 Key information – Schneider Electric SE
TABLE 83 Key Information – General Electric Company
TABLE 84 Key Information – Delta Electronics, Inc.
TABLE 85 Key Information – Sungrow Power Supply Co., Ltd.
TABLE 86 Key Information – Fimer Group
TABLE 87 Key Information – KACO new energy GmbH
TABLE 88 Key Information – GoodWe
List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America Grid-forming Inverter Market share by Application, 2022
FIG 7 North America Grid-forming Inverter Market share by Application, 2030
FIG 8 North America Grid-forming Inverter Market by Application, 2019 - 2030, USD Million
FIG 9 North America Grid-forming Inverter Market share by Type, 2022
FIG 10 North America Grid-forming Inverter Market share by Type, 2030
FIG 11 North America Grid-forming Inverter Market by Type, 2019 - 2030, USD Million
FIG 12 North America Grid-forming Inverter Market share by Voltage, 2022
FIG 13 North America Grid-forming Inverter Market share by Voltage, 2030
FIG 14 North America Grid-forming Inverter Market by Voltage, 2019 - 2030, USD Million
FIG 15 North America Grid-forming Inverter Market share by Power Rating, 2022
FIG 16 North America Grid-forming Inverter Market share by Power Rating, 2030
FIG 17 North America Grid-forming Inverter Market by Power Rating, 2019 - 2030, USD Million
FIG 18 North America Grid-forming Inverter Market share by Country, 2022
FIG 19 North America Grid-forming Inverter Market share by Country, 2030
FIG 20 North America 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