Grid-Forming Inverter Market to Reach USD 1.53 Billion by 2032, Driven by Renewable Energy Integration and Grid Stability Needs
The global grid-forming inverter market is experiencing a notable surge, with an estimated market size of USD 763.4 million in 2024. It is projected to expand at a compound annual growth rate (CAGR) of 9.2% between 2025 and 2032, ultimately reaching USD 1,526.5 million by 2032 . This substantial growth is being fueled by the increasing integration of renewable energy into power grids and the growing demand for enhanced grid resilience and stability. Grid-forming inverters are advanced power electronics devices that can actively form and stabilize the grid by mimicking the behavior of synchronous generators. Unlike traditional grid-following inverters, which rely on a stable grid to synchronize, grid-forming inverters can operate independently or in coordination with other energy sources, making them ideal for microgrids and islanded operations. These inverters are vital for maintaining voltage and frequency stability, especially in power systems with high penetration of renewable energ...
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