Summary

The U.S. grid-forming inverters for microgrids market is projected to reach USD 2,647.3 million by 2032, growing at a CAGR of 7.1% from 2024 to 2032. Grid-forming inverters are excellent modern power electronic devices responsible for voltage and frequency references that enable the smooth operation of microgrids, either as autonomous or grid-connected systems. Their usage can bring stability, especially when the microgrid is based on renewable energy sources such as solar or wind.

The proliferating installation of microgrids in the US is shaping up as a major market for grid-forming inverters. Urban dwellers experiencing the brunt of weather-induced blackout situations are not only the main beneficiaries of federal-backed programs through green initiatives, but also are the main drivers for the energy source of the future, which is distributed microgrids. The latter, with the help of advanced inverters, can keep a stable grid through the supply of voltage, managing the grid's frequency as well as seamless islanding, and consequently, they can be looked at as the real supporters of the clean energy transition process of the country.

Key Company Development
ABB has strategically expanded its renewable and power electronics portfolio through key initiatives. In December 2024, it announced the acquisition of Gamesa Electric’s power electronics and storage business to enhance its renewable conversion capabilities. In May 2024, ABB unveiled an innovative motor-inverter combination for electric buses, thus enabling the achievement of mileage efficiency with a very large margin. On top of that, the company’s 2022 PowerExchanger introduction opened up the way for the development of UPS systems that can be used for the combined goals of grid stabilization and demand of renewables.

Key Report Attributes
- Market Size 2023: USD 1,366.5 Million
- Market Size 2032: USD 2,647.3 Million
- CAGR (2024-2032): 7.1%
- Base Year: 2023
- Market Forecast Period: 2024-2032

Market Segmentations Growth
- By Type: Micro Inverter, String Inverter, Central Inverter.
- By Voltage: 100-300 V, 300-500 V, Above 500 V.
- By Power Rating: Below 50 KW, 50-100 KW, Above 100 KW.
- By Application: Remote & Off-Grid Microgrids, Grid-Connected Microgrids, Community & Resilience Microgrids, Hybrid Microgrids, Others.
- By Technology: AC to DC Converters, DC to AC Converters, Others.
- By End User: Utilities, Residential and Commercial, Military & Defense, Others.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ...... 17
2 MARKET INTRODUCTION ........ 21
2.1 DEFINITION ....... 21
2.2 SCOPE OF THE STUDY ....... 21
2.3 RESEARCH OBJECTIVE ..... 21
2.4 MARKET STRUCTURE ....... 22
3 RESEARCH METHODOLOGY ....... 23
3.1 OVERVIEW .... 23
3.2 DATA FLOW ....... 25
3.2.1 DATA MINING PROCESS ..... 25
3.3 PURCHASED DATABASE: ....... 26
3.4 SECONDARY SOURCES: ..... 27
3.4.1 SECONDARY RESEARCH DATA FLOW: ..... 28
3.5 PRIMARY RESEARCH: ........ 29
3.5.1 PRIMARY RESEARCH DATA FLOW: .... 30
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ...... 31
3.6.1 TRADE ANALYSIS APPROACH .... 31
3.7 DATA FORECASTING..... 31
3.7.1 DATA FORECASTING TECHNIQUE .... 32
3.8 DATA MODELING ....... 33
3.8.1 MICROECONOMIC FACTOR ANALYSIS: .... 33
3.8.2 DATA MODELING: ........ 34
3.9 TEAMS AND ANALYST CONTRIBUTION ....... 36
4 MARKET DYNAMICS ...... 38
4.1 INTRODUCTION ..... 38
4.2 DRIVERS .... 39
4.2.1 RISING DEPLOYMENT OF MICROGRIDS ........ 39
4.2.2 NEED FOR GRID RESILIENCE & STABILITY ..... 40
4.2.3 CORPORATE AND MILITARY INVESTMENTS IN MICROGRIDS ...... 40
4.3 RESTRAINT ....... 42
4.3.1 HIGH INITIAL COSTS & CAPITAL EXPENDITURE ........ 42
4.3.2 TECHNICAL COMPLEXITY & SYSTEM INTEGRATION CHALLENGES ..... 42
4.4 OPPORTUNITY ....... 44
4.4.1 EMERGING ROLE OF DC MICROGRIDS & BIDIRECTIONAL DC/DC CONVERTERS ....... 44
4.4.2 GROWTH IN SMART GRIDS & DIGITALIZATION .... 44
4.4.3 DEVELOPMENT OF BIDIRECTIONAL AND VEHICLE-TO-GRID (V2G) INVERTERS ..... 45
4.5 IMPACT ANALYSIS OF COVID-19 ....... 46
4.6 IMPACT ANALYSIS OF RUSSIA UKRAINE WAR ........ 46
4.7 IMPACT OF TRUMP 2.0 ON THE MARKET .... 47
4.7.1 US ADMINISTRATION IMPACT ANALYSIS .... 47
5 MARKET FACTOR ANALYSIS ....... 48
5.1 SUPPLY/VALUE CHAIN ANALYSIS ....... 48
5.1.1 PARTICIPANTS ........ 48
5.1.1.1 SUBASSEMBLIES SUPPLIERS ..... 48
5.1.1.1.1 LIST OF SUBASSEMBLIES SUPPLIERS (COMPANY NAME, TYPE OF PRODUCT, HEADQUARTERS, AND CONTACT DETAILS) ....... 48
5.1.1.1.2 SUBASSEMBLIES TRENDS ........ 49
5.1.1.2 COMPONENT SYSTEM MANUFACTURERS/ASSEMBLERS....... 49
5.1.1.2.1 LIST OF MANUFACTURERS (COMPANY NAME, TYPE OF PRODUCT, HEADQUARTERS, AND CONTACT DETAILS) ..... 49
5.1.1.3 DISTRIBUTORS ..... 50
5.1.1.3.1 LIST OF DISTRIBUTORS (COMPANY NAME, TYPE OF PRODUCT, HEADQUARTERS, AND CONTACT DETAILS) .... 50
5.1.1.4 END USERS ....... 50
5.1.1.4.1 LIST OF END USERS (COMPANY NAME, TYPE OF PRODUCT, HEADQUARTERS, AND CONTACT DETAILS)....... 50
5.1.1.4.2 CUSTOMER NEED, PREFERENCES, PAIN POINTS, & END USE INDUSTRIES ........ 51
5.1.2 VALUE PERCOLATION ACROSS THE CHAIN ........ 51
5.1.3 INTEGRATION LEVELS .... 51
5.1.4 KEY ISSUES ADDRESSED ........ 51
5.2 PORTER’S FIVE FORCES MODEL ........ 52
5.2.1 THREAT OF NEW ENTRANTS ...... 52
5.2.2 THREAT OF SUBSTITUTES .... 53
5.2.3 BARGAINING POWER OF SUPPLIERS ...... 53
5.2.4 BARGAINING POWER OF BUYERS .... 53
5.2.5 INTENSITY OF RIVALRY ........ 53
5.3 BUSINESS ENVIORNMENT ANALYSIS ...... 54
5.3.1 POLITICAL ........ 54
5.3.2 ECONOMIC ...... 54
5.3.3 SOCIAL ...... 54
5.3.4 TECHNOLOGY ........ 54
5.3.5 LEGAL ....... 55
5.3.6 ENVIORNMENT ....... 55
5.4 TECHNOLOGY ADVANCEMENTS ...... 55
5.4.1 HIGHER POWER DENSITY AND EFFICIENCY ....... 55
5.4.2 ENHANCED GRID STABILITY AND RESILIENCE .... 55
5.4.3 IMPROVED CONTROL ALGORITHMS ........ 55
5.4.4 MODULAR AND SCALABLE DESIGNS ..... 56
5.4.5 ENHANCED GRID COMMUNICATION AND CYBERSECURITY ....... 56
5.5 REGULATORY FRAMEWORK .... 56
5.5.1 OVERVIEW OF UL 1741 ..... 56
5.5.2 DC/DC CONVERTERS & UL 1741 CERTIFICATION ........ 56
5.6 DC/DC CONVERTERS USE CASES IN MICROGRIDS .... 57
5.6.1 CASE STUDY 1 ...... 57
5.6.2 CASE STUDY 2 ...... 57
5.7 IMPACT OF DC/DC CONVERTERS ON MICROGRID EFFICIENCY & PERFORMANCE ....... 58
5.8 FUTURE TRENDS AND TECHNOLOGY ROADMAP ..... 58
5.8.1 ADVANCEMENTS IN UL 1741 SB (SMART INVERTER) COMPLIANCE FOR DC/DC CONVERTERS ...... 58
5.8.2 INTEGRATION OF AI & IOT FOR ADAPTIVE POWER MANAGEMENT ........ 59
5.8.3 POLICY SUPPORT & INCENTIVES FOR DC MICROGRIDS IN THE U.S. ....... 59
5.9 RESEARCH AND DEVELOPMENT REVIEW ........ 59
5.10 CASE STUDY/ USE CASES ..... 60
5.10.1 CASE STUDY 1 ...... 60
5.10.2 CASE STUDY 2 ...... 61
6 US GRID-FORMING INVERTERS FOR MICROGRIDS MARKET, BY POWER OUTPUT ....... 62
6.1 INTRODUCTION ..... 62
6.1.1 MICRO INVERTER ..... 62
6.1.2 STRING INVERTERS ........ 62
6.1.3 CENTRAL INVERTERS ...... 62
7 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY VOLTAGE ...... 64
7.1 INTRODUCTION ..... 64
7.1.1 100–300 V .... 64
7.1.2 300–500 V .... 64
7.1.3 ABOVE 500 V ....... 64
8 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY POWER RATING ..... 67
8.1 INTRODUCTION ..... 67
8.1.1 BELOW 50 KW ...... 67
8.1.2 50–100 KW .... 67
8.1.3 ABOVE 100 KW .... 67
9 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY APPLICATION .... 69
9.1 INTRODUCTION ..... 69
9.1.1 REMOTE & OFF-GRID MICROGRIDS ....... 69
9.1.2 GRID-CONNECTED MICROGRIDS ...... 69
9.1.3 COMMUNITY & RESILIENCY MICROGRIDS ........ 69
9.1.4 HYBRID MICROGRIDS .... 70
9.1.5 OTHERS ...... 70
10 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY POWER RATING ..... 72
10.1 INTRODUCTION ..... 72
10.1.1 BELOW 50 KW ...... 72
10.1.2 50–100 KW .... 72
10.1.3 ABOVE 100 KW .... 72
11 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY TECHNOLOGY ........ 75
11.1 INTRODUCTION ..... 75
11.1.1 AC TO DC CONVERTERS ..... 75
11.1.2 DC TO AC CONVERTERS ..... 75
11.1.2.1 ISOLATED DC/DC CONVERTERS ....... 75
11.1.2.2 NON-ISOLATED DC/DC CONVERTERS ..... 76
11.1.2.3 BIDIRECTIONAL DC/DC CONVERTERS ...... 76
11.1.3 OTHERS ...... 76
12 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY END USER .... 78
12.1 INTRODUCTION ..... 78
12.1.1 UTILITIES .... 78
12.1.2 RESIDENTIAL & COMMERCIAL ....... 78
12.1.3 MILITARY & DEFENSE ........ 78
12.1.4 OTHERS ...... 79
13 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY REGION .... 80
13.1 INTRODUCTION ..... 80
13.2 NORTHEAST US .... 81
13.3 SOUTHEAST US ..... 82
13.4 MIDWEST US..... 83
13.5 SOUTHWEST US ........ 84
13.6 WEST US ........ 85
14 COMPETITIVE LANDSCAPE .... 87
14.1 INTRODUCTION ..... 87
14.2 COMPANY MARKET SHARE ANALYSIS, 2023 ....... 88
14.2.1 US GRID-FORMING INVERTERS FOR MICROGRIDS MARKET SHARE ANALYSIS ........ 88
14.3 COMPETITIVE BENCHMARKING ....... 89
14.4 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE US GRID-FORMING
INVERTERS FOR MICROGRIDS MARKET .... 90
14.5 KEY DEVELOPMENTS & GROWTH STRATEGIES ....... 91
14.5.1 EXPANSION ..... 91
14.5.2 NEW PRODUCT LAUNCH ..... 91
14.5.3 ACQUISITION .... 92
14.5.4 PARTNERSHIP ........ 93
14.5.5 AGREEMENT .... 93
15 COMPANY PROFILES .... 94
15.1 ABB ........ 94
15.1.1 COMPANY OVERVIEW ........ 94
15.1.2 FINANCIAL OVERVIEW ABB: FINANCIAL OVERVIEW SNAPSHOT. ..... 95
15.1.3 PRODUCTS OFFERED..... 95
15.1.4 KEY DEVELOPMENTS .... 96
15.1.5 SWOT ANALYSIS ..... 96
15.1.6 KEY STRATEGY ....... 97
15.1.6.1 BUSINESS STRATEGIES ........ 97
15.1.6.1.1 PRODUCT STRATEGY 97
15.1.6.2 CORPORATE STRATEGIES....... 97
15.1.6.3 OVERALL STRATEGY .... 97
15.1.1 LIST OF PROMINENT DISTRIBUTORS ...... 97
15.2 SCHNEIDER ELECTRIC SE...... 98
15.2.1 COMPANY OVERVIEW ........ 98
15.2.2 FINANCIAL OVERVIEW ....... 99
15.2.3 PRODUCTS OFFERED..... 99
15.2.4 KEY DEVELOPMENTS .... 100
15.2.5 SWOT ANALYSIS ..... 101
15.2.6 KEY STRATEGY ....... 101
15.2.6.1 BUSINESS STRATEGIES ........ 101
15.2.6.1.1 PRODUCT STRATEGY 101
15.2.6.2 CORPORATE STRATEGIES....... 101
15.2.6.3 OVERALL STRATEGY .... 102
15.3 SIEMENS AG ...... 103
15.3.1 COMPANY OVERVIEW ........ 103
15.3.2 FINANCIAL OVERVIEW ....... 104
15.3.3 PRODUCTS OFFERED..... 104
15.3.4 KEY DEVELOPMENTS .... 105
15.3.5 SWOT ANALYSIS ..... 105
15.3.6 KEY STRATEGY ....... 106
15.3.6.1 BUSINESS STRATEGIES ........ 106
15.3.6.1.1 PRODUCT STRATEGY 106
15.3.6.2 CORPORATE STRATEGIES....... 106
15.3.6.3 OVERALL STRATEGY .... 106
15.3.7 LIST OF PROMINENT DISTRIBUTORS ...... 107
15.4 GENERAL ELECTRIC (GE) ....... 108
15.4.1 COMPANY OVERVIEW ........ 108
15.4.2 FINANCIAL OVERVIEW ....... 108
15.4.3 PRODUCTS OFFERED..... 109
15.4.4 KEY DEVELOPMENTS .... 109
15.4.5 KEY DEVELOPMENTS .... 110
15.4.6 SWOT ANALYSIS ..... 110
15.4.7 KEY STRATEGY ....... 111
15.4.7.1 BUSINESS STRATEGIES ........ 111
15.4.7.1.1 PRODUCT STRATEGY 111
15.4.7.2 CORPORATE STRATEGIES....... 111
15.4.7.3 OVERALL STRATEGY .... 111
15.4.8 LIST OF PROMINENT DISTRIBUTORS ...... 111
15.5 EATON CORPORATION ...... 112
15.5.1 COMPANY OVERVIEW ........ 112
15.5.2 FINANCIAL OVERVIEW ....... 113
15.5.3 PRODUCTS OFFERED..... 113
15.5.4 KEY DEVELOPMENTS .... 114
15.5.5 SWOT ANALYSIS ..... 114
15.5.6 KEY STRATEGY ....... 114
15.5.6.1 BUSINESS STRATEGIES ........ 114
15.5.6.1.1 PRODUCT STRATEGY 114
15.5.6.2 CORPORATE STRATEGIES....... 115
15.5.6.3 OVERALL STRATEGY .... 115
15.5.7 LIST OF PROMINENT DISTRIBUTORS ...... 115
15.6 TESLA INC. .... 116
15.6.1 COMPANY OVERVIEW ........ 116
15.6.2 FINANCIAL OVERVIEW ....... 117
15.6.3 PRODUCTS OFFERED..... 118
15.6.4 KEY DEVELOPMENTS .... 118
15.6.5 SWOT ANALYSIS ..... 119
15.6.6 KEY STRATEGY ....... 119
15.6.6.1 BUSINESS STRATEGY ...... 119
15.6.6.1.1 PRODUCT STRATEGY 119
15.6.6.2 CORPORATE STRATEGIES....... 119
15.6.6.3 OVERALL STRATEGY .... 120
15.7 HITACHI ENERGY LTD. ...... 121
15.7.1 COMPANY OVERVIEW ........ 121
15.7.2 FINANCIAL OVERVIEW ....... 122
15.7.3 PRODUCTS OFFERED..... 122
15.7.4 KEY DEVELOPMENTS .... 122
15.7.5 SWOT ANALYSIS ..... 123
15.7.6 KEY STRATEGY ....... 123
15.7.6.1 BUSINESS STRATEGY ...... 123
15.7.6.1.1 PRODUCT STRATEGY 123
15.7.6.2 CORPORATE STRATEGIES....... 123
15.7.6.3 OVERALL STRATEGY .... 124
15.7.7 LIST OF PROMINENT DISTRIBUTORS ...... 124
15.8 SMA SOLAR TECHNOLOGY AG ...... 125
15.8.1 COMPANY OVERVIEW ........ 125
15.8.2 FINANCIAL OVERVIEW ....... 126
15.8.3 PRODUCTS OFFERED..... 126
15.8.4 KEY DEVELOPMENTS .... 126
15.8.5 SWOT ANALYSIS ..... 127
15.8.6 KEY STRATEGY ....... 127
15.8.6.1 BUSINESS STRATEGY ...... 127
15.8.6.1.1 PRODUCT STRATEGY 127
15.8.6.2 CORPORATE STRATEGIES....... 127
15.8.6.3 OVERALL STRATEGY .... 128
15.8.7 LIST OF PROMINENT DISTRIBUTORS ...... 128
15.9 ENPHASE ENERGY, INC. ........ 129
15.9.1 COMPANY OVERVIEW ........ 129
15.9.2 FINANCIAL OVERVIEW ....... 129
15.9.3 PRODUCTS OFFERED..... 130
15.9.4 KEY DEVELOPMENTS .... 130
15.9.5 SWOT ANALYSIS ..... 132
15.9.6 KEY STRATEGY ....... 132
15.9.6.1 BUSINESS STRATEGY ...... 132
15.9.6.1.1 PRODUCT STRATEGY 132
15.9.6.2 CORPORATE STRATEGIES....... 132
15.9.6.3 OVERALL STRATEGY .... 133
15.10 SOLAREDGE TECHNOLOGIES, INC. .... 133
15.10.1 COMPANY OVERVIEW ........ 133
15.10.2 FINANCIAL OVERVIEW ....... 134
15.10.3 PRODUCTS OFFERED..... 135
15.10.4 KEY DEVELOPMENTS .... 136
15.10.5 SWOT ANALYSIS ..... 136
15.10.6 KEY STRATEGY ....... 137
15.10.6.1 BUSINESS STRATEGY ...... 137
15.10.6.1.1 PRODUCT STRATEGY 137
15.10.6.2 KEY STRATEGY .... 137
15.10.6.3 OVERALL STRATEGY .... 137
15.11 DATA CITATIONS ...... 139

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List of Tables/Graphs

LIST OF TABLES
TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 34
TABLE 2 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY POWER OUTPUT, 2018–2032 (USD MILLION) 63
TABLE 3 US GRID-FORMING INVERTERS FOR MICORGRIDS S MARKET, BY VOLTAGE, 2018–2032 (USD MILLION) 65
TABLE 4 US GRID-FORMING INVERTERS FOR MICROGRIDS MARKET, BY END-USE INDUSTRY, 2018–2032 (USD MILLION) 68
TABLE 5 US GRID-FORMING INVERTERS FOR MICROGRIDS MARKET, BY APPLICATION, 2018–2032 (USD MILLION) 71
TABLE 6 US GRID-FORMING INVERTERS FOR MICROGRIDS MARKET, BY END-USE INDUSTRY, 2018–2032 (USD MILLION) 73
TABLE 7 UAE US GRID-FORMING INVERTERS FOR MICROGRIDSS MARKET, BY POWER OUTPUT, 2018–2032 (USD MILLION) 81
TABLE 8 UAE US GRID-FORMING INVERTERS FOR MICROGRIDSS MARKET, BY POWER OUTPUT, 2018–2032 (USD MILLION) 82
TABLE 9 UAE US GRID-FORMING INVERTERS FOR MICROGRIDSS MARKET, BY POWER OUTPUT, 2018–2032 (USD MILLION) 83
TABLE 10 UAE US GRID-FORMING INVERTERS FOR MICROGRIDSS MARKET, BY POWER OUTPUT, 2018–2032 (USD MILLION) 84
TABLE 11 UAE US GRID-FORMING INVERTERS FOR MICROGRIDSS MARKET, BY POWER OUTPUT, 2018–2032 (USD MILLION) 85
TABLE 12 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE US GRID-FORMING INVERTERS FOR MICROGRIDS MARKET
TABLE 13 CAPACITY EXPANSION 91
TABLE 14 NEW PRODUCT LAUNCH 91
TABLE 15 ACQUISITION 92
TABLE 16 PARTNERSHIP 93
TABLE 17 AGREEMENT 93
TABLE 18 ABB: PRODUCTS OFFERED 95
TABLE 19 SCHNEIDER ELECTRIC SE: PRODUCTS OFFERED 99
TABLE 20 SCHNEIDER ELECTRIC SE: KEY DEVELOPMENTS 100
TABLE 21 SIEMENS AG : PRODUCTS OFFERED 104
TABLE 22 SIEMENS AG : KEY DEVELOPMENTS 105
TABLE 23 GENERAL ELECTRIC (GE): PRODUCTS OFFERED 109
TABLE 24 GENERAL ELECTRIC (GE): KEY DEVELOPMENTS 110
TABLE 25 EATON CORPORATION: PRODUCTS OFFERED 113
TABLE 26 EATON CORPORATION: KEY DEVELOPMENTS 114
TABLE 27 TESLA INC.: PRODUCTS OFFERED 118
TABLE 28 TESLA INC.: KEY DEVELOPMENTS 118
TABLE 29 HITACHI ENERGY LTD.: PRODUCTS OFFERED 122
TABLE 30 HITACHI ENERGY LTD.: KEY DEVELOPMENTS 122
TABLE 31 SMA SOLAR TECHNOLOGY AG: PRODUCTS OFFERED 126
TABLE 32 ENPHASE ENERGY, INC.: FINANCIAL OVERVIEW SNAPSHOT 129
TABLE 33 ENPHASE ENERGY, INC.: PRODUCTS OFFERED 130
TABLE 34 SOLAREDGE TECHNOLOGIES, INC.: PRODUCTS OFFERED 135
TABLE 35 SOLAREDGE TECHNOLOGIES, INC.: KEY DEVELOPMENTS 136