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North America Grid-forming Inverter Market Size, Share & Industry Trends Analysis Report By Application, By Type (Central Inverter, Micro Inverter, and String Inverter), By Voltage, By Power Rating, By Country and Growth Forecast, 2023 - 2030

Publisher Knowledge Based Value (KBV) Research
Published Aug 31, 2023
Length 127 Pages
SKU # KBV18251861

Description

North America Grid-forming Inverter Market Size, Share & Industry Trends Analysis Report By Application, By Type (Central Inverter, Micro Inverter, and String Inverter), By Voltage, By Power Rating, By Country and Growth Forecast, 2023 - 2030


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.

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
Companies Profiled
  • 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
Unique Offerings from KBV Research
  • Exhaustive coverage
  • Highest number of market tables and figures
  • Subscription based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

127 Pages
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

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