Product Code: 13252
The grid-forming inverter market is poised for significant growth, with projections indicating an increase from approximately $763.4 million in 2024 to $1,526.5 million by 2032, reflecting a compound annual growth rate (CAGR) of 9.2% during 2025-2032. This expansion is largely driven by the global shift towards renewable energy sources, such as solar and wind, necessitating advanced technologies like grid-forming inverters for seamless integration into existing electrical grids.
These inverters play a crucial role in stabilizing grid behavior during disruptions and can operate independently in islanded situations, enhancing the reliability of low-inertia power systems that incorporate a significant number of inverter-based resources.
Key Insights
By type, micro inverters are suitable for small-scale applications, offering modularity and ease of installation. Central inverters are ideal for large-scale utility projects, providing high efficiency and centralized control. String inverters are commonly used in residential and commercial installations, balancing performance and cost-effectiveness.
By voltage, inverters in the 100-300 V range are typically used in residential settings, while 301-500 V inverters suit larger commercial applications. Those above 500 V are designed for industrial and utility-scale projects requiring higher power outputs.
By power rating, products below 50 kW target residential and small commercial uses. The 50-100 kW range caters to medium-sized commercial installations, and those above 100 kW meet the demands of large industrial and utility-scale operations.
The Asia-Pacific region is currently the largest market, driven by substantial investments in renewable energy infrastructure and supportive government policies. Europe is anticipated to be the fastest-growing region, propelled by stringent environmental regulations and ambitious sustainability goals. North America is experiencing steady growth due to increasing adoption of renewable energy technologies and modernization of aging grid infrastructure.
Development of grid-forming controllers for distributed inverters enhances the stability and reliability of power systems with high renewable energy penetration. Advancements in inverter technology, including improved grid-forming capabilities, facilitate better integration of renewable energy sources into the grid.
The market is characterized by a fragmented landscape with numerous players striving for market share through innovation and strategic partnerships. Key players are focusing on developing advanced grid-forming inverter solutions to meet the evolving demands of renewable energy integration and grid stability.
Emerging opportunities include the deployment of grid-forming inverters in microgrid applications, energy storage systems, and electric vehicle integration, presenting avenues for market expansion and diversification.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market Size Breakdown, by Type
- 1.4.2. Market Size Breakdown, by Voltage
- 1.4.3. Market Size Breakdown, by Power Rating
- 1.4.4. Market Size Breakdown, by End Use
- 1.4.5. Market Size Breakdown, by Application
- 1.4.6. Market Size Breakdown, by Region
- 1.4.7. Market Size Breakdown, by Country
- 1.5. Market Data Reporting Unit
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence Database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Industry Background
- 5.2. Market Dynamics
- 5.2.1. Trends
- 5.2.2. Drivers
- 5.2.3. Restraints/Challenges
- 5.2.4. Emerging Economies and Key Opportunities
- 5.2.5. Impact Analysis of Drivers/Restraints
- 5.3. Impact of COVID-19
- 5.4. Sociopolitical Impact
- 5.5. Porter's Five Forces Analysis
- 5.5.1. Bargaining Power of Buyers
- 5.5.2. Bargaining Power of Suppliers
- 5.5.3. Threat of New Entrants
- 5.5.4. Intensity of Rivalry
- 5.5.5. Threat of Substitutes
- 5.6. Innovation and Technology Trends
- 5.7. Supply Chain and Value Chain Insights
- 5.8. Economic and Regulatory Impact
- 5.9. Market Entry Strategies
Chapter 6. Competitive Landscape
- 6.1. List of Market Players and their Offerings
- 6.2. Market Share of Key Players (2024)
- 6.2.1. Global
- 6.2.2. North America
- 6.2.3. Europe
- 6.2.4. APAC
- 6.2.5. Latin America
- 6.2.6. Middle East and Africa
- 6.3. Competitive Benchmarking of Key Players
- 6.4. Product Benchmarking of Key Players
- 6.5. Recent Strategic Developments by Key Players
- 6.6. Company Leadership Matrix
Chapter 7. Global Market
- 7.1. Overview
- 7.2. Market Revenue, by Type (2019-2032)
- 7.3. Market Revenue, by Voltage (2019-2032)
- 7.4. Market Revenue, by Power Rating (2019-2032)
- 7.5. Market Revenue, by End Use (2019-2032)
- 7.6. Market Revenue, by Application (2019-2032)
- 7.7. Market Revenue, by Region (2019-2032)
Chapter 8. North America Market
- 8.1. Overview
- 8.2. Market Revenue, by Type (2019-2032)
- 8.3. Market Revenue, by Voltage (2019-2032)
- 8.4. Market Revenue, by Power Rating (2019-2032)
- 8.5. Market Revenue, by End Use (2019-2032)
- 8.6. Market Revenue, by Application (2019-2032)
- 8.7. Market Revenue, by Country (2019-2032)
Chapter 9. Europe Market
- 9.1. Overview
- 9.2. Market Revenue, by Type (2019-2032)
- 9.3. Market Revenue, by Voltage (2019-2032)
- 9.4. Market Revenue, by Power Rating (2019-2032)
- 9.5. Market Revenue, by End Use (2019-2032)
- 9.6. Market Revenue, by Application (2019-2032)
- 9.7. Market Revenue, by Country (2019-2032)
Chapter 10. APAC Market
- 10.1. Overview
- 10.2. Market Revenue, by Type (2019-2032)
- 10.3. Market Revenue, by Voltage (2019-2032)
- 10.4. Market Revenue, by Power Rating (2019-2032)
- 10.5. Market Revenue, by End Use (2019-2032)
- 10.6. Market Revenue, by Application (2019-2032)
- 10.7. Market Revenue, by Country (2019-2032)
Chapter 11. Latin America Market
- 11.1. Overview
- 11.2. Market Revenue, by Type (2019-2032)
- 11.3. Market Revenue, by Voltage (2019-2032)
- 11.4. Market Revenue, by Power Rating (2019-2032)
- 11.5. Market Revenue, by End Use (2019-2032)
- 11.6. Market Revenue, by Application (2019-2032)
- 11.7. Market Revenue, by Country (2019-2032)
Chapter 12. Middle East and Africa Market
- 12.1. Overview
- 12.2. Market Revenue, by Type (2019-2032)
- 12.3. Market Revenue, by Voltage (2019-2032)
- 12.4. Market Revenue, by Power Rating (2019-2032)
- 12.5. Market Revenue, by End Use (2019-2032)
- 12.6. Market Revenue, by Application (2019-2032)
- 12.7. Market Revenue, by Country (2019-2032)
Chapter 13. U.S. Market
- 13.1. Overview
- 13.2. Economic Indicators
- 13.3. Demographics and Population Insights
- 13.4. Regional Hotspots
- 13.5. Growth Drivers
- 13.6. Challenges and Barriers
- 13.7. Competitive Strategies
- 13.8. Emerging Players
- 13.9. Import/Export Policies
- 13.10. Compliance Requirements
- 13.11. Emerging Investment Areas
- 13.12. Market Size and Forecast
- 13.12.1. Market Revenue, by Type (2019-2032)
- 13.12.2. Market Revenue, by Voltage (2019-2032)
- 13.12.3. Market Revenue, by Power Rating (2019-2032)
- 13.12.4. Market Revenue, by End Use (2019-2032)
- 13.12.5. Market Revenue, by Application (2019-2032)
Chapter 14. Canada Market
- 14.1. Overview
- 14.2. Economic Indicators
- 14.3. Demographics and Population Insights
- 14.4. Regional Hotspots
- 14.5. Growth Drivers
- 14.6. Challenges and Barriers
- 14.7. Competitive Strategies
- 14.8. Emerging Players
- 14.9. Import/Export Policies
- 14.10. Compliance Requirements
- 14.11. Emerging Investment Areas
- 14.12. Market Size and Forecast
- 14.12.1. Market Revenue, by Type (2019-2032)
- 14.12.2. Market Revenue, by Voltage (2019-2032)
- 14.12.3. Market Revenue, by Power Rating (2019-2032)
- 14.12.4. Market Revenue, by End Use (2019-2032)
- 14.12.5. Market Revenue, by Application (2019-2032)
Chapter 15. U.K. Market
- 15.1. Overview
- 15.2. Economic Indicators
- 15.3. Demographics and Population Insights
- 15.4. Regional Hotspots
- 15.5. Growth Drivers
- 15.6. Challenges and Barriers
- 15.7. Competitive Strategies
- 15.8. Emerging Players
- 15.9. Import/Export Policies
- 15.10. Compliance Requirements
- 15.11. Emerging Investment Areas
- 15.12. Market Size and Forecast
- 15.12.1. Market Revenue, by Type (2019-2032)
- 15.12.2. Market Revenue, by Voltage (2019-2032)
- 15.12.3. Market Revenue, by Power Rating (2019-2032)
- 15.12.4. Market Revenue, by End Use (2019-2032)
- 15.12.5. Market Revenue, by Application (2019-2032)
Chapter 16. Germany Market
- 16.1. Overview
- 16.2. Economic Indicators
- 16.3. Demographics and Population Insights
- 16.4. Regional Hotspots
- 16.5. Growth Drivers
- 16.6. Challenges and Barriers
- 16.7. Competitive Strategies
- 16.8. Emerging Players
- 16.9. Import/Export Policies
- 16.10. Compliance Requirements
- 16.11. Emerging Investment Areas
- 16.12. Market Size and Forecast
- 16.12.1. Market Revenue, by Type (2019-2032)
- 16.12.2. Market Revenue, by Voltage (2019-2032)
- 16.12.3. Market Revenue, by Power Rating (2019-2032)
- 16.12.4. Market Revenue, by End Use (2019-2032)
- 16.12.5. Market Revenue, by Application (2019-2032)
Chapter 17. France Market
- 17.1. Overview
- 17.2. Economic Indicators
- 17.3. Demographics and Population Insights
- 17.4. Regional Hotspots
- 17.5. Growth Drivers
- 17.6. Challenges and Barriers
- 17.7. Competitive Strategies
- 17.8. Emerging Players
- 17.9. Import/Export Policies
- 17.10. Compliance Requirements
- 17.11. Emerging Investment Areas
- 17.12. Market Size and Forecast
- 17.12.1. Market Revenue, by Type (2019-2032)
- 17.12.2. Market Revenue, by Voltage (2019-2032)
- 17.12.3. Market Revenue, by Power Rating (2019-2032)
- 17.12.4. Market Revenue, by End Use (2019-2032)
- 17.12.5. Market Revenue, by Application (2019-2032)
Chapter 18. Italy Market
- 18.1. Overview
- 18.2. Economic Indicators
- 18.3. Demographics and Population Insights
- 18.4. Regional Hotspots
- 18.5. Growth Drivers
- 18.6. Challenges and Barriers
- 18.7. Competitive Strategies
- 18.8. Emerging Players
- 18.9. Import/Export Policies
- 18.10. Compliance Requirements
- 18.11. Emerging Investment Areas
- 18.12. Market Size and Forecast
- 18.12.1. Market Revenue, by Type (2019-2032)
- 18.12.2. Market Revenue, by Voltage (2019-2032)
- 18.12.3. Market Revenue, by Power Rating (2019-2032)
- 18.12.4. Market Revenue, by End Use (2019-2032)
- 18.12.5. Market Revenue, by Application (2019-2032)
Chapter 19. Spain Market
- 19.1. Overview
- 19.2. Economic Indicators
- 19.3. Demographics and Population Insights
- 19.4. Regional Hotspots
- 19.5. Growth Drivers
- 19.6. Challenges and Barriers
- 19.7. Competitive Strategies
- 19.8. Emerging Players
- 19.9. Import/Export Policies
- 19.10. Compliance Requirements
- 19.11. Emerging Investment Areas
- 19.12. Market Size and Forecast
- 19.12.1. Market Revenue, by Type (2019-2032)
- 19.12.2. Market Revenue, by Voltage (2019-2032)
- 19.12.3. Market Revenue, by Power Rating (2019-2032)
- 19.12.4. Market Revenue, by End Use (2019-2032)
- 19.12.5. Market Revenue, by Application (2019-2032)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Economic Indicators
- 20.3. Demographics and Population Insights
- 20.4. Regional Hotspots
- 20.5. Growth Drivers
- 20.6. Challenges and Barriers
- 20.7. Competitive Strategies
- 20.8. Emerging Players
- 20.9. Import/Export Policies
- 20.10. Compliance Requirements
- 20.11. Emerging Investment Areas
- 20.12. Market Size and Forecast
- 20.12.1. Market Revenue, by Type (2019-2032)
- 20.12.2. Market Revenue, by Voltage (2019-2032)
- 20.12.3. Market Revenue, by Power Rating (2019-2032)
- 20.12.4. Market Revenue, by End Use (2019-2032)
- 20.12.5. Market Revenue, by Application (2019-2032)
Chapter 21. Japan Market
- 21.1. Overview
- 21.2. Economic Indicators
- 21.3. Demographics and Population Insights
- 21.4. Regional Hotspots
- 21.5. Growth Drivers
- 21.6. Challenges and Barriers
- 21.7. Competitive Strategies
- 21.8. Emerging Players
- 21.9. Import/Export Policies
- 21.10. Compliance Requirements
- 21.11. Emerging Investment Areas
- 21.12. Market Size and Forecast
- 21.12.1. Market Revenue, by Type (2019-2032)
- 21.12.2. Market Revenue, by Voltage (2019-2032)
- 21.12.3. Market Revenue, by Power Rating (2019-2032)
- 21.12.4. Market Revenue, by End Use (2019-2032)
- 21.12.5. Market Revenue, by Application (2019-2032)
Chapter 22. India Market
- 22.1. Overview
- 22.2. Economic Indicators
- 22.3. Demographics and Population Insights
- 22.4. Regional Hotspots
- 22.5. Growth Drivers
- 22.6. Challenges and Barriers
- 22.7. Competitive Strategies
- 22.8. Emerging Players
- 22.9. Import/Export Policies
- 22.10. Compliance Requirements
- 22.11. Emerging Investment Areas
- 22.12. Market Size and Forecast
- 22.12.1. Market Revenue, by Type (2019-2032)
- 22.12.2. Market Revenue, by Voltage (2019-2032)
- 22.12.3. Market Revenue, by Power Rating (2019-2032)
- 22.12.4. Market Revenue, by End Use (2019-2032)
- 22.12.5. Market Revenue, by Application (2019-2032)
Chapter 23. Australia Market
- 23.1. Overview
- 23.2. Economic Indicators
- 23.3. Demographics and Population Insights
- 23.4. Regional Hotspots
- 23.5. Growth Drivers
- 23.6. Challenges and Barriers
- 23.7. Competitive Strategies
- 23.8. Emerging Players
- 23.9. Import/Export Policies
- 23.10. Compliance Requirements
- 23.11. Emerging Investment Areas
- 23.12. Market Size and Forecast
- 23.12.1. Market Revenue, by Type (2019-2032)
- 23.12.2. Market Revenue, by Voltage (2019-2032)
- 23.12.3. Market Revenue, by Power Rating (2019-2032)
- 23.12.4. Market Revenue, by End Use (2019-2032)
- 23.12.5. Market Revenue, by Application (2019-2032)
Chapter 24. South Korea Market
- 24.1. Overview
- 24.2. Economic Indicators
- 24.3. Demographics and Population Insights
- 24.4. Regional Hotspots
- 24.5. Growth Drivers
- 24.6. Challenges and Barriers
- 24.7. Competitive Strategies
- 24.8. Emerging Players
- 24.9. Import/Export Policies
- 24.10. Compliance Requirements
- 24.11. Emerging Investment Areas
- 24.12. Market Size and Forecast
- 24.12.1. Market Revenue, by Type (2019-2032)
- 24.12.2. Market Revenue, by Voltage (2019-2032)
- 24.12.3. Market Revenue, by Power Rating (2019-2032)
- 24.12.4. Market Revenue, by End Use (2019-2032)
- 24.12.5. Market Revenue, by Application (2019-2032)
Chapter 25. Brazil Market
- 25.1. Overview
- 25.2. Economic Indicators
- 25.3. Demographics and Population Insights
- 25.4. Regional Hotspots
- 25.5. Growth Drivers
- 25.6. Challenges and Barriers
- 25.7. Competitive Strategies
- 25.8. Emerging Players
- 25.9. Import/Export Policies
- 25.10. Compliance Requirements
- 25.11. Emerging Investment Areas
- 25.12. Market Size and Forecast
- 25.12.1. Market Revenue, by Type (2019-2032)
- 25.12.2. Market Revenue, by Voltage (2019-2032)
- 25.12.3. Market Revenue, by Power Rating (2019-2032)
- 25.12.4. Market Revenue, by End Use (2019-2032)
- 25.12.5. Market Revenue, by Application (2019-2032)
Chapter 26. Mexico Market
- 26.1. Overview
- 26.2. Economic Indicators
- 26.3. Demographics and Population Insights
- 26.4. Regional Hotspots
- 26.5. Growth Drivers
- 26.6. Challenges and Barriers
- 26.7. Competitive Strategies
- 26.8. Emerging Players
- 26.9. Import/Export Policies
- 26.10. Compliance Requirements
- 26.11. Emerging Investment Areas
- 26.12. Market Size and Forecast
- 26.12.1. Market Revenue, by Type (2019-2032)
- 26.12.2. Market Revenue, by Voltage (2019-2032)
- 26.12.3. Market Revenue, by Power Rating (2019-2032)
- 26.12.4. Market Revenue, by End Use (2019-2032)
- 26.12.5. Market Revenue, by Application (2019-2032)
Chapter 27. Saudi Arabia Market
- 27.1. Overview
- 27.2. Economic Indicators
- 27.3. Demographics and Population Insights
- 27.4. Regional Hotspots
- 27.5. Growth Drivers
- 27.6. Challenges and Barriers
- 27.7. Competitive Strategies
- 27.8. Emerging Players
- 27.9. Import/Export Policies
- 27.10. Compliance Requirements
- 27.11. Emerging Investment Areas
- 27.12. Market Size and Forecast
- 27.12.1. Market Revenue, by Type (2019-2032)
- 27.12.2. Market Revenue, by Voltage (2019-2032)
- 27.12.3. Market Revenue, by Power Rating (2019-2032)
- 27.12.4. Market Revenue, by End Use (2019-2032)
- 27.12.5. Market Revenue, by Application (2019-2032)
Chapter 28. South Africa Market
- 28.1. Overview
- 28.2. Economic Indicators
- 28.3. Demographics and Population Insights
- 28.4. Regional Hotspots
- 28.5. Growth Drivers
- 28.6. Challenges and Barriers
- 28.7. Competitive Strategies
- 28.8. Emerging Players
- 28.9. Import/Export Policies
- 28.10. Compliance Requirements
- 28.11. Emerging Investment Areas
- 28.12. Market Size and Forecast
- 28.12.1. Market Revenue, by Type (2019-2032)
- 28.12.2. Market Revenue, by Voltage (2019-2032)
- 28.12.3. Market Revenue, by Power Rating (2019-2032)
- 28.12.4. Market Revenue, by End Use (2019-2032)
- 28.12.5. Market Revenue, by Application (2019-2032)
Chapter 29. U.A.E. Market
- 29.1. Overview
- 29.2. Economic Indicators
- 29.3. Demographics and Population Insights
- 29.4. Regional Hotspots
- 29.5. Growth Drivers
- 29.6. Challenges and Barriers
- 29.7. Competitive Strategies
- 29.8. Emerging Players
- 29.9. Import/Export Policies
- 29.10. Compliance Requirements
- 29.11. Emerging Investment Areas
- 29.12. Market Size and Forecast
- 29.12.1. Market Revenue, by Type (2019-2032)
- 29.12.2. Market Revenue, by Voltage (2019-2032)
- 29.12.3. Market Revenue, by Power Rating (2019-2032)
- 29.12.4. Market Revenue, by End Use (2019-2032)
- 29.12.5. Market Revenue, by Application (2019-2032)
Chapter 30. Company Profiles
Chapter 31. Appendix
- 31.1. Sources and References
- 31.2. Related Reports