ARC Advisory Group research unravels the explosive growth and technical evolution of Grid Power Converting Systems (PCS). PCS are at the heart of the renewable energy transition. Modern PCS have many advanced control features that make renewable power efficient, safe, and capable of stabilizing electric grids. The solar and wind industries are the largest new sources of electric power, and their PCS are proportional to their power rating. EV chargers are a growing industry that is impacting utilities worldwide. Grid scale batteries have both chargers (rectifiers and inverters) to export power. HVDC power converters are an important sector as new renewable power is often far from the population centers that need the power.
"One of the most notable trends in power converting systems is the remarkable growth in solar and wind power, particularly in China. While central inverters previously dominated grid-scale solar projects, string inverters are rapidly gaining market share due to their simpler installation process, superior MPPT, and enhanced panel-level monitoring capabilities when paired with optimizers. AI is playing a transformative role in the PCS technology sector by enhancing efficiency, accuracy, and decision-making capabilities. AI can sit on top of, be embedded into, or connect to systems, adding purpose, accuracy, and speed to decisions related to sustainability," according to Rick Rys, Director of Consulting and key author of ARC's Grid Power Converting Systems Market Research.
Grid Power Converting Systems Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Integration with Energy Storage
- Modular and Scalable Designs
- Digitalization and AI
- Grid Integration and Stability
- Increased Power Density and Efficiency
- Energy Transition
Leading Suppliers to the Grid Power Converting Systems Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Envision, Goldwind, Huawei, Siemens Gamesa Renewable Energy, Sungrow.
About the Grid Power Converting Systems Research
The Grid Power Converting Systems research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts. The segmentation includes Customer Type, World Region, Sales Channel, Revenue Category, Solar Inverter by Type, Revenue by Type.
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