Solar Changer Controller
The global solar charge controller held a market value of US$ 1.35 billion in 2019 and is expected to grow at a CAGR of 15.1% to a projected market value of US$ 4.15 billion by 2027. The increasing alternate power technology is the major driving factor behind the growth of the solar charge controller market.
Solar Charger Controller Market Size shall reach a value of $xx Million in 2031, growing with a CAGR of 9.1% during the forecast period of 2022 to 2031.
Market Growth and Trends
The increasing industrialization has raised the need for power generation globally. The rise in the number of high power utilizing devices has bolstered the need for power generation significantly. The propelling trend of employing eco-friendly power generation or power generation from renewable energy sources has boosted the need and demand for solar power technology. The increasing prices of natural gases and crude oils are making solar power more desirable among end-users. The decreasing price associated with the installation of solar power generators has highly influenced the market dynamics of the solar charge controller market. Solar energy cost $300 per watt in the 1950s and now the cost has come down to US$3 per watt in 2020.
With the advancing solar technology, the efficiency of solar power panels has increased thrice by each decade. The increase in the efficiency of prediction or forecasting technology has positively impacted the solar charge controller market by making it easier for grid operators in predicting the solar power generation capacity. The unpredictability of maximum solar presence at all times has increased the need for solar power batteries to store the generated power regulated by the solar charge controllers. The continuous demand for power supply in urban places is a major growth factor for the solar charge controller market.
Utilizing sustainable energy power is greatly encouraged globally, owing to the need for a healthier and safer environment and the reduction in costs for energy it leads to. Several policymakers and Governments have mandated clean energy policies and tax incentives in favour of solar power installations. The wide range of applications that solar power has in commercial, industrial, and residential properties is highly influencing the demand for solar charge controllers. The main idea of yielding more resources than the number of resources spent on installation is driving the market.
The maximum power point tracking (MPPT) segment is expected to hold the largest market share by 2027, followed by the pulse width modulation segment in market share. The commercial segment had occupied the major revenue share of 54% in 2019 followed by the industrial segment closely.
Solar Changer ControllerIndustry Regional Analysis
Solar Changer ControllerMarket Research Report Scope/Definition
Solar Changer ControllerMarket Share and Competition Key companies operating in this industry are: Sungrow ; Morningstar Corp. ; Schneider Electric ; Beijing Epsolar Technology Co., Ltd ; Wenzhou Xihe Electric Co., ltd ; Sunforge LLC ; Luminous India ; KATEK Memmingen GmbH ; Airkom and Victron Energy
Solar Changer ControllerMarket Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Pulse Width Modulation (PWM)
• Maximum Power Point Tracking (MPPT)
• Others
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Industrial
• Commercial
• Residential
Region Analasis (Revenue, USD Million, 2022 - 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Solar Changer ControllerIndustry Companies
• Sungrow
• Morningstar Corp.
• Schneider Electric
• Beijing Epsolar Technology Co., Ltd
• Wenzhou Xihe Electric Co., ltd
• Sunforge LLC
• Luminous India
• KATEK Memmingen GmbH
• Airkom
• Victron Energy
Available Versions of Solar Changer ControllerMarket: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
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