The global Grid-Forming SVG market was valued at US$ 417 million in 2025 and is anticipated to reach US$ 635 million by 2032, at a CAGR of 6.8% from 2026 to 2032.

Grid-Forming SVG Market

Grid-forming SVG is an advanced power electronic reactive power compensation device with voltage-source characteristics and grid reference capability. It can actively establish voltage and frequency references in weak grids or environments with high renewable penetration, providing fast dynamic reactive power support, virtual inertia, and short-circuit capacity compensation. It can also maintain voltage stability during grid faults or islanded operation, thereby enhancing the dynamic stability and supply reliability of the power system. Unlike traditional grid-following SVGs, which primarily use current control and follow the grid, grid-forming SVGs emphasize “actively forming the grid” and support the stable operation of renewable energy sources, energy storage systems, and other power electronic sources in the new power system.

The North American market for Grid-Forming SVG is projected to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % over 2026–2032.

The Asia-Pacific market for Grid-Forming SVG is projected to rise from US$ million in 2025 to US$ million by 2032, at a CAGR of % over 2026–2032.

The global market for Grid-Forming SVG in New Energy is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 to 2032.

Major global companies of Grid-Forming SVG include Siemens, NR Electric, Xin Fengguang, Sieyuan Electric, XJ Group, Hopewind, Beijing Sifang Automation, etc. In 2025, the world's top three vendors accounted for approximately % of revenue.

This report delivers a comprehensive overview of the global Grid-Forming SVG market, with both quantitative and qualitative analyses, to help readers develop growth strategies, assess the competitive landscape, evaluate their position in the current market, and make informed business decisions regarding Grid-Forming SVG. The Grid-Forming SVG market size, estimates, and forecasts are provided in terms of revenue (US$ millions), with 2025 as the base year and historical and forecast data for 2021–2032.

The report segments the global Grid-Forming SVG market comprehensively. Regional market sizes by Type, by Application, by Structure, and by player are also provided. For deeper insight, the report profiles the competitive landscape, key competitors, and their respective market rankings, and discusses technological trends and new product developments.

This report will assist Grid-Forming SVG manufacturers, new entrants, and companies across the industry value chain with information on revenues, sales volume, and average prices for the overall market and its sub-segments, by company, by Type, by Application, and by region.

Market Segmentation

Scope of Grid-Forming SVG Market Report

Report Metric	Details
Report Name	Grid-Forming SVG Market
Accounted market size in 2025	US$ 417 million
Forecasted market size in 2032	US$ 635 million
CAGR	6.8%
Base Year	2025
Forecasted years	2026 - 2032
Segment by Type	High-voltage Type Low-voltage Type
Segment by Structure	Single-Unit Parallel / Modular Hybrid
Segment by Control Strategies	VSM Control Droop Control Virtual Impedance
Segment by Application	New Energy Power System Industry and Manufacturing Other
By Region	North America (United States, Canada) Europe (Germany, France, UK, Italy, Russia) Rest of Europe Nordic Countries Asia-Pacific (China, Japan, South Korea) Southeast Asia (India, Australia) Rest of Asia Latin America (Mexico, Brazil) Rest of Latin America Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of MEA)
By Company	Siemens, NR Electric, Xin Fengguang, Sieyuan Electric, XJ Group, Hopewind, Beijing Sifang Automation
Forecast units	USD million in value
Report coverage	Revenue and volume forecast, company share, competitive landscape, growth factors and trends

Chapter Outline

Chapter 1: Defines the scope of the report and presents an executive summary of market segments (by Type, by Application, by Structure, etc.), including the size of each segment and its future growth potential. It offers a high-level view of the current market and its likely evolution in the short, medium, and long term.
Chapter 2: Summarizes global and regional market size and outlines market dynamics and recent developments, including key drivers, restraints, challenges and risks for industry participants, and relevant policy analysis.
Chapter 3: Provides a detailed view of the competitive landscape for Grid-Forming SVG companies, covering revenue share, development plans, and mergers and acquisitions.
Chapter 4: Analyzes segments by Type, detailing the size and growth potential of each segment to help readers identify blue-ocean opportunities.
Chapter 5: Analyzes segments by Application, detailing the size and growth potential of each downstream segment to help readers identify blue-ocean opportunities.
Chapter 6–10: Regional deep dives (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) broken down by country. Each chapter quantifies market size and growth potential by region and key countries, and outlines market development, outlook, addressable space, and capacity.
Chapter 11: Profiles key players, presenting essential information on leading companies, including product/ service offerings, revenue, gross margin, product introductions/portfolios, recent developments, etc.
Chapter 12: Key findings and conclusions of the report.

FAQ for this report

How fast is Grid-Forming SVG Market growing?

Ans: The Grid-Forming SVG Market witnessing a CAGR of 6.8% during the forecast period 2026-2032.

What is the Grid-Forming SVG Market size in 2032?

Ans: The Grid-Forming SVG Market size in 2032 will be US$ 635 million.

Who are the main players in the Grid-Forming SVG Market report?

Ans: The main players in the Grid-Forming SVG Market are Siemens, NR Electric, Xin Fengguang, Sieyuan Electric, XJ Group, Hopewind, Beijing Sifang Automation

What are the Application segmentation covered in the Grid-Forming SVG Market report?

Ans: The Applications covered in the Grid-Forming SVG Market report are New Energy, Power System, Industry and Manufacturing, Other

What are the Type segmentation covered in the Grid-Forming SVG Market report?

Ans: The Types covered in the Grid-Forming SVG Market report are High-voltage Type, Low-voltage Type

1 Report Overview

1.1 Study Scope

1.2 Market Analysis by Type

1.2.1 Global Grid-Forming SVG Market Size Growth Rate by Type: 2021 vs 2025 vs 2032

1.2.2 High-voltage Type

1.2.3 Low-voltage Type

1.3 Market by Structure

1.3.1 Global Grid-Forming SVG Market Size Growth Rate by Structure: 2021 vs 2025 vs 2032

1.3.2 Single-Unit

1.3.3 Parallel / Modular

1.3.4 Hybrid

1.4 Market by Control Strategies

1.4.1 Global Grid-Forming SVG Market Size Growth Rate by Control Strategies: 2021 vs 2025 vs 2032

1.4.2 VSM Control

1.4.3 Droop Control

1.4.4 Virtual Impedance

1.5 Market by Application

1.5.1 Global Grid-Forming SVG Market Growth by Application: 2021 vs 2025 vs 2032

1.5.2 New Energy

1.5.3 Power System

1.5.4 Industry and Manufacturing

1.5.5 Other

1.6 Assumptions and Limitations

1.7 Study Objectives

1.8 Years Considered

2 Global Growth Trends

2.1 Global Grid-Forming SVG Market Perspective (2021–2032)

2.2 Global Grid-Forming SVG Growth Trends by Region

2.2.1 Global Grid-Forming SVG Market Size by Region: 2021 vs 2025 vs 2032

2.2.2 Grid-Forming SVG Historic Market Size by Region (2021–2026)

2.2.3 Grid-Forming SVG Forecasted Market Size by Region (2027–2032)

2.3 Grid-Forming SVG Market Dynamics

2.3.1 Grid-Forming SVG Industry Trends

2.3.2 Grid-Forming SVG Market Drivers

2.3.3 Grid-Forming SVG Market Challenges

2.3.4 Grid-Forming SVG Market Restraints

3 Competition Landscape by Key Players

3.1 Global Top Grid-Forming SVG Players by Revenue

3.1.1 Global Top Grid-Forming SVG Players by Revenue (2021–2026)

3.1.2 Global Grid-Forming SVG Revenue Market Share by Players (2021–2026)

3.2 Global Top Grid-Forming SVG Players Market Share by Company Tier (Tier 1, Tier 2, Tier 3)

3.3 Global Key Players Ranking by Grid-Forming SVG Revenue

3.4 Global Grid-Forming SVG Market Concentration Ratio

3.4.1 Global Grid-Forming SVG Market Concentration Ratio (CR5 and HHI)

3.4.2 Global Top 10 and Top 5 Companies by Grid-Forming SVG Revenue in 2025

3.5 Global Key Players of Grid-Forming SVG Head Offices and Areas Served

3.6 Global Key Players of Grid-Forming SVG, Products and Applications

3.7 Global Key Players of Grid-Forming SVG, Date of General Availability (GA)

3.8 Mergers and Acquisitions, Expansion Plans

4 Grid-Forming SVG Breakdown Data by Type

4.1 Global Grid-Forming SVG Historic Market Size by Type (2021–2026)

4.2 Global Grid-Forming SVG Forecasted Market Size by Type (2027–2032)

5 Grid-Forming SVG Breakdown Data by Application

5.1 Global Grid-Forming SVG Historic Market Size by Application (2021–2026)

5.2 Global Grid-Forming SVG Forecasted Market Size by Application (2027–2032)

6 North America

6.1 North America Grid-Forming SVG Market Size (2021–2032)

6.2 North America Grid-Forming SVG Market Growth Rate by Country: 2021 vs 2025 vs 2032

6.3 North America Grid-Forming SVG Market Size by Country (2021–2026)

6.4 North America Grid-Forming SVG Market Size by Country (2027–2032)

6.5 United States

6.6 Canada

7 Europe

7.1 Europe Grid-Forming SVG Market Size (2021–2032)

7.2 Europe Grid-Forming SVG Market Growth Rate by Country: 2021 vs 2025 vs 2032

7.3 Europe Grid-Forming SVG Market Size by Country (2021–2026)

7.4 Europe Grid-Forming SVG Market Size by Country (2027–2032)

7.5 Germany

7.6 France

7.7 U.K.

7.8 Italy

7.9 Russia

7.10 Ireland

8 Asia-Pacific

8.1 Asia-Pacific Grid-Forming SVG Market Size (2021–2032)

8.2 Asia-Pacific Grid-Forming SVG Market Growth Rate by Region: 2021 vs 2025 vs 2032

8.3 Asia-Pacific Grid-Forming SVG Market Size by Region (2021–2026)

8.4 Asia-Pacific Grid-Forming SVG Market Size by Region (2027–2032)

8.5 China

8.6 Japan

8.7 South Korea

8.8 Southeast Asia

8.9 India

8.10 Australia & New Zealand

9 Latin America

9.1 Latin America Grid-Forming SVG Market Size (2021–2032)

9.2 Latin America Grid-Forming SVG Market Growth Rate by Country: 2021 vs 2025 vs 2032

9.3 Latin America Grid-Forming SVG Market Size by Country (2021–2026)

9.4 Latin America Grid-Forming SVG Market Size by Country (2027–2032)

9.5 Mexico

9.6 Brazil

10 Middle East & Africa

10.1 Middle East & Africa Grid-Forming SVG Market Size (2021–2032)

10.2 Middle East & Africa Grid-Forming SVG Market Growth Rate by Country: 2021 vs 2025 vs 2032

10.3 Middle East & Africa Grid-Forming SVG Market Size by Country (2021–2026)

10.4 Middle East & Africa Grid-Forming SVG Market Size by Country (2027–2032)

10.5 Israel

10.6 Saudi Arabia

10.7 UAE

11 Key Players Profiles

11.1 Siemens

11.1.1 Siemens Company Details

11.1.2 Siemens Business Overview

11.1.3 Siemens Grid-Forming SVG Introduction

11.1.4 Siemens Revenue in Grid-Forming SVG Business (2021–2026)

11.1.5 Siemens Recent Development

11.2 NR Electric

11.2.1 NR Electric Company Details

11.2.2 NR Electric Business Overview

11.2.3 NR Electric Grid-Forming SVG Introduction

11.2.4 NR Electric Revenue in Grid-Forming SVG Business (2021–2026)

11.2.5 NR Electric Recent Development

11.3 Xin Fengguang

11.3.1 Xin Fengguang Company Details

11.3.2 Xin Fengguang Business Overview

11.3.3 Xin Fengguang Grid-Forming SVG Introduction

11.3.4 Xin Fengguang Revenue in Grid-Forming SVG Business (2021–2026)

11.3.5 Xin Fengguang Recent Development

11.4 Sieyuan Electric

11.4.1 Sieyuan Electric Company Details

11.4.2 Sieyuan Electric Business Overview

11.4.3 Sieyuan Electric Grid-Forming SVG Introduction

11.4.4 Sieyuan Electric Revenue in Grid-Forming SVG Business (2021–2026)

11.4.5 Sieyuan Electric Recent Development

11.5 XJ Group

11.5.1 XJ Group Company Details

11.5.2 XJ Group Business Overview

11.5.3 XJ Group Grid-Forming SVG Introduction

11.5.4 XJ Group Revenue in Grid-Forming SVG Business (2021–2026)

11.5.5 XJ Group Recent Development

11.6 Hopewind

11.6.1 Hopewind Company Details

11.6.2 Hopewind Business Overview

11.6.3 Hopewind Grid-Forming SVG Introduction

11.6.4 Hopewind Revenue in Grid-Forming SVG Business (2021–2026)

11.6.5 Hopewind Recent Development

11.7 Beijing Sifang Automation

11.7.1 Beijing Sifang Automation Company Details

11.7.2 Beijing Sifang Automation Business Overview

11.7.3 Beijing Sifang Automation Grid-Forming SVG Introduction

11.7.4 Beijing Sifang Automation Revenue in Grid-Forming SVG Business (2021–2026)

11.7.5 Beijing Sifang Automation Recent Development

12 Analyst's Viewpoints/Conclusions

13 Appendix

13.1 Research Methodology

13.1.1 Methodology/Research Approach

13.1.1.1 Research Programs/Design

13.1.1.2 Market Size Estimation

13.1.1.3 Market Breakdown and Data Triangulation

13.1.2 Data Source

13.1.2.1 Secondary Sources

13.1.2.2 Primary Sources

13.2 Author Details

13.3 Disclaimer

FEATURED COMPANIES

Beijing Sifang Automation

List of Tables

Table 1. Global Grid-Forming SVG Market Size Growth Rate by Type (US$ Million): 2021 vs 2025 vs 2032

Table 2. Key Players of High-voltage Type

Table 3. Key Players of Low-voltage Type

Table 4. Global Grid-Forming SVG Market Size Growth Rate by Structure (US$ Million): 2021 vs 2025 vs 2032

Table 5. Key Players of Single-Unit

Table 6. Key Players of Parallel / Modular

Table 7. Key Players of Hybrid

Table 8. Global Grid-Forming SVG Market Size Growth Rate by Control Strategies (US$ Million): 2021 vs 2025 vs 2032

Table 9. Key Players of VSM Control

Table 10. Key Players of Droop Control

Table 11. Key Players of Virtual Impedance

Table 12. Global Grid-Forming SVG Market Size Growth by Application (US$ Million): 2021 vs 2025 vs 2032

Table 13. Global Grid-Forming SVG Market Size by Region (US$ Million): 2021 vs 2025 vs 2032

Table 14. Global Grid-Forming SVG Market Size by Region (US$ Million), 2021–2026

Table 15. Global Grid-Forming SVG Market Share by Region (2021–2026)

Table 16. Global Grid-Forming SVG Forecasted Market Size by Region (US$ Million), 2027–2032

Table 17. Global Grid-Forming SVG Market Share by Region (2027–2032)

Table 18. Grid-Forming SVG Market Trends

Table 19. Grid-Forming SVG Market Drivers

Table 20. Grid-Forming SVG Market Challenges

Table 21. Grid-Forming SVG Market Restraints

Table 22. Global Grid-Forming SVG Revenue by Players (US$ Million), 2021–2026

Table 23. Global Grid-Forming SVG Market Share by Players (2021–2026)

Table 24. Global Top Grid-Forming SVG Players by Tier (Tier 1, Tier 2, and Tier 3), based on Grid-Forming SVG Revenue, 2025

Table 25. Ranking of Global Top Grid-Forming SVG Companies by Revenue (US$ Million) in 2025

Table 26. Global 5 Largest Players Market Share by Grid-Forming SVG Revenue (CR5 and HHI), 2021–2026

Table 27. Global Key Players of Grid-Forming SVG, Headquarters and Area Served

Table 28. Global Key Players of Grid-Forming SVG, Products and Applications

Table 29. Global Key Players of Grid-Forming SVG, Date of General Availability (GA)

Table 30. Mergers and Acquisitions, Expansion Plans

Table 31. Global Grid-Forming SVG Market Size by Type (US$ Million), 2021–2026

Table 32. Global Grid-Forming SVG Revenue Market Share by Type (2021–2026)

Table 33. Global Grid-Forming SVG Forecasted Market Size by Type (US$ Million), 2027–2032

Table 34. Global Grid-Forming SVG Revenue Market Share by Type (2027–2032)

Table 35. Global Grid-Forming SVG Market Size by Application (US$ Million), 2021–2026

Table 36. Global Grid-Forming SVG Revenue Market Share by Application (2021–2026)

Table 37. Global Grid-Forming SVG Forecasted Market Size by Application (US$ Million), 2027–2032

Table 38. Global Grid-Forming SVG Revenue Market Share by Application (2027–2032)

Table 39. North America Grid-Forming SVG Market Size Growth Rate by Country (US$ Million): 2021 vs 2025 vs 2032

Table 40. North America Grid-Forming SVG Market Size by Country (US$ Million), 2021–2026

Table 41. North America Grid-Forming SVG Market Size by Country (US$ Million), 2027–2032

Table 42. Europe Grid-Forming SVG Market Size Growth Rate by Country (US$ Million): 2021 vs 2025 vs 2032

Table 43. Europe Grid-Forming SVG Market Size by Country (US$ Million), 2021–2026

Table 44. Europe Grid-Forming SVG Market Size by Country (US$ Million), 2027–2032

Table 45. Asia-Pacific Grid-Forming SVG Market Size Growth Rate by Region (US$ Million): 2021 vs 2025 vs 2032

Table 46. Asia-Pacific Grid-Forming SVG Market Size by Region (US$ Million), 2021–2026

Table 47. Asia-Pacific Grid-Forming SVG Market Size by Region (US$ Million), 2027–2032

Table 48. Latin America Grid-Forming SVG Market Size Growth Rate by Country (US$ Million): 2021 vs 2025 vs 2032

Table 49. Latin America Grid-Forming SVG Market Size by Country (US$ Million), 2021–2026

Table 50. Latin America Grid-Forming SVG Market Size by Country (US$ Million), 2027–2032

Table 51. Middle East & Africa Grid-Forming SVG Market Size Growth Rate by Country (US$ Million): 2021 vs 2025 vs 2032

Table 52. Middle East & Africa Grid-Forming SVG Market Size by Country (US$ Million), 2021–2026

Table 53. Middle East & Africa Grid-Forming SVG Market Size by Country (US$ Million), 2027–2032

Table 54. Siemens Company Details

Table 55. Siemens Business Overview

Table 56. Siemens Grid-Forming SVG Product

Table 57. Siemens Revenue in Grid-Forming SVG Business (US$ Million), 2021–2026

Table 58. Siemens Recent Development

Table 59. NR Electric Company Details

Table 60. NR Electric Business Overview

Table 61. NR Electric Grid-Forming SVG Product

Table 62. NR Electric Revenue in Grid-Forming SVG Business (US$ Million), 2021–2026

Table 63. NR Electric Recent Development

Table 64. Xin Fengguang Company Details

Table 65. Xin Fengguang Business Overview

Table 66. Xin Fengguang Grid-Forming SVG Product

Table 67. Xin Fengguang Revenue in Grid-Forming SVG Business (US$ Million), 2021–2026

Table 68. Xin Fengguang Recent Development

Table 69. Sieyuan Electric Company Details

Table 70. Sieyuan Electric Business Overview

Table 71. Sieyuan Electric Grid-Forming SVG Product

Table 72. Sieyuan Electric Revenue in Grid-Forming SVG Business (US$ Million), 2021–2026

Table 73. Sieyuan Electric Recent Development

Table 74. XJ Group Company Details

Table 75. XJ Group Business Overview

Table 76. XJ Group Grid-Forming SVG Product

Table 77. XJ Group Revenue in Grid-Forming SVG Business (US$ Million), 2021–2026

Table 78. XJ Group Recent Development

Table 79. Hopewind Company Details

Table 80. Hopewind Business Overview

Table 81. Hopewind Grid-Forming SVG Product

Table 82. Hopewind Revenue in Grid-Forming SVG Business (US$ Million), 2021–2026

Table 83. Hopewind Recent Development

Table 84. Beijing Sifang Automation Company Details

Table 85. Beijing Sifang Automation Business Overview

Table 86. Beijing Sifang Automation Grid-Forming SVG Product

Table 87. Beijing Sifang Automation Revenue in Grid-Forming SVG Business (US$ Million), 2021–2026

Table 88. Beijing Sifang Automation Recent Development

Table 89. Research Programs/Design for This Report

Table 90. Key Data Information from Secondary Sources

Table 91. Key Data Information from Primary Sources

Table 92. Authors List of This Report

List of Figures

Figure 1. Grid-Forming SVG Picture

Figure 2. Global Grid-Forming SVG Market Size Comparison by Type (US$ Million), 2021–2032

Figure 3. Global Grid-Forming SVG Market Share by Type: 2025 vs 2032

Figure 4. High-voltage Type Features

Figure 5. Low-voltage Type Features

Figure 6. Global Grid-Forming SVG Market Size Comparison by Structure (US$ Million), 2021–2032

Figure 7. Single-Unit Features

Figure 8. Parallel / Modular Features

Figure 9. Hybrid Features

Figure 10. Global Grid-Forming SVG Market Size Comparison by Control Strategies (US$ Million), 2021–2032

Figure 11. VSM Control Features

Figure 12. Droop Control Features

Figure 13. Virtual Impedance Features

Figure 14. Global Grid-Forming SVG Market Size by Application (US$ Million), 2021–2032

Figure 15. Global Grid-Forming SVG Market Share by Application: 2025 vs 2032

Figure 16. New Energy Case Studies

Figure 17. Power System Case Studies

Figure 18. Industry and Manufacturing Case Studies

Figure 19. Other Case Studies

Figure 20. Grid-Forming SVG Report Years Considered

Figure 21. Global Grid-Forming SVG Market Size (US$ Million), Year-over-Year: 2021–2032

Figure 22. Global Grid-Forming SVG Market Size, (US$ Million), 2021 vs 2025 vs 2032

Figure 23. Global Grid-Forming SVG Market Share by Region: 2025 vs 2032

Figure 24. Global Grid-Forming SVG Market Share by Players in 2025

Figure 25. Global Grid-Forming SVG Market Share by Company Type (Tier 1, Tier 2, and Tier 3)

Figure 26. The Top 10 and 5 Players Market Share by Grid-Forming SVG Revenue in 2025

Figure 27. North America Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 28. North America Grid-Forming SVG Market Share by Country (2021–2032)

Figure 29. United States Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 30. Canada Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 31. Europe Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 32. Europe Grid-Forming SVG Market Share by Country (2021–2032)

Figure 33. Germany Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 34. France Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 35. U.K. Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 36. Italy Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 37. Russia Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 38. Ireland Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 39. Asia-Pacific Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 40. Asia-Pacific Grid-Forming SVG Market Share by Region (2021–2032)

Figure 41. China Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 42. Japan Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 43. South Korea Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 44. Southeast Asia Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 45. India Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 46. Australia & New Zealand Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 47. Latin America Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 48. Latin America Grid-Forming SVG Market Share by Country (2021–2032)

Figure 49. Mexico Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 50. Brazil Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 51. Middle East & Africa Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 52. Middle East & Africa Grid-Forming SVG Market Share by Country (2021–2032)

Figure 53. Israel Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 54. Saudi Arabia Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 55. UAE Grid-Forming SVG Market Size YoY Growth (US$ Million), 2021–2032

Figure 56. Siemens Revenue Growth Rate in Grid-Forming SVG Business (2021–2026)

Figure 57. NR Electric Revenue Growth Rate in Grid-Forming SVG Business (2021–2026)

Figure 58. Xin Fengguang Revenue Growth Rate in Grid-Forming SVG Business (2021–2026)

Figure 59. Sieyuan Electric Revenue Growth Rate in Grid-Forming SVG Business (2021–2026)

Figure 60. XJ Group Revenue Growth Rate in Grid-Forming SVG Business (2021–2026)

Figure 61. Hopewind Revenue Growth Rate in Grid-Forming SVG Business (2021–2026)

Figure 62. Beijing Sifang Automation Revenue Growth Rate in Grid-Forming SVG Business (2021–2026)

Figure 63. Bottom-up and Top-down Approaches for This Report

Figure 64. Data Triangulation

Figure 65. Key Executives Interviewed

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