The Europe Grid-Forming Inverter Market should witness market growth of 8.4% CAGR during the forecast period (2023-2030).
Microgrids are highly compatible with integrating renewable energy sources like solar panels and wind turbines into the EV charging infrastructure. The synergistic relationship that exists between electric vehicles (EVs) and microgrids helps to advance the goal of reducing carbon emissions by promoting environmentally friendly and sustainable modes of transportation. In addition, energy storage devices can be included into microgrids, which can supplement electric vehicle charging by storing extra energy and provide a reliable power supply in the event that the main grid experiences disruptions or an emergency.
Microgrids provide intelligent and dynamic charging alternatives through the integration of smart charging technology, which optimizes charging based on the conditions of the grid, the cost of energy, and the preferences of individual users. In the end, the proliferation of electric vehicle charging infrastructure is what drives the demand for microgrids. This is because microgrids are able to effectively manage increased electricity demand, make the incorporation of renewable energy sources easier, strengthen grid stability, and improve the reliability of charging operations.
A microgrid is a local electric system that can provide power from electric grids either in parallel or isolation. Shifting inclination from remote central station power plants to more localized and distributed generation for enhanced reliability, resiliency, and energy in cities, communities, and campuses is projected to impact the market growth substantially.
Some EU Framework Programs (FPs) support extensive R&D efforts that go hand in hand with microgrid development in the EU. Demonstration projects have been created since FP 5 with an emphasis on utility-scale multi-microgrid, control, and operation, as well as island and remote microgrid systems. In isolated and remote locations with unstable or nonexistent grid energy, off-grid power generation has long been necessary in Europe. Hence, the rising implementations of microgrids along with the increasing emphasis on using clean energy will propel the growth of the market in the coming years.
The Germany market dominated the Europe Grid-forming Inverter Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $76.5 million by 2030. The UK market is registering a CAGR of 7.5% during (2023-2030). Additionally, The France market would showcase a CAGR of 9.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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.
Microgrids are highly compatible with integrating renewable energy sources like solar panels and wind turbines into the EV charging infrastructure. The synergistic relationship that exists between electric vehicles (EVs) and microgrids helps to advance the goal of reducing carbon emissions by promoting environmentally friendly and sustainable modes of transportation. In addition, energy storage devices can be included into microgrids, which can supplement electric vehicle charging by storing extra energy and provide a reliable power supply in the event that the main grid experiences disruptions or an emergency.
Microgrids provide intelligent and dynamic charging alternatives through the integration of smart charging technology, which optimizes charging based on the conditions of the grid, the cost of energy, and the preferences of individual users. In the end, the proliferation of electric vehicle charging infrastructure is what drives the demand for microgrids. This is because microgrids are able to effectively manage increased electricity demand, make the incorporation of renewable energy sources easier, strengthen grid stability, and improve the reliability of charging operations.
A microgrid is a local electric system that can provide power from electric grids either in parallel or isolation. Shifting inclination from remote central station power plants to more localized and distributed generation for enhanced reliability, resiliency, and energy in cities, communities, and campuses is projected to impact the market growth substantially.
Some EU Framework Programs (FPs) support extensive R&D efforts that go hand in hand with microgrid development in the EU. Demonstration projects have been created since FP 5 with an emphasis on utility-scale multi-microgrid, control, and operation, as well as island and remote microgrid systems. In isolated and remote locations with unstable or nonexistent grid energy, off-grid power generation has long been necessary in Europe. Hence, the rising implementations of microgrids along with the increasing emphasis on using clean energy will propel the growth of the market in the coming years.
The Germany market dominated the Europe Grid-forming Inverter Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $76.5 million by 2030. The UK market is registering a CAGR of 7.5% during (2023-2030). Additionally, The France market would showcase a CAGR of 9.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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
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
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
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
Unique Offerings
- Exhaustive coverage
- The 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
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Europe Grid-forming Inverter Market by Application
Chapter 6. Europe Grid-forming Inverter Market by Type
Chapter 7. Europe Grid-forming Inverter Market by Voltage
Chapter 8. Europe Grid-forming Inverter Market by Power Rating
Chapter 9. Europe Grid-forming Inverter Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- 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
Methodology
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