Market size, share, growth analysis for solar charge controllers:
The solar charge controller market was worth $ 1.58 billion in 2020 and is projected to reach $ 3.90 billion by 2025, with a CAGR of 15.3% over the planned period from 2020 to 2025.
The solar charge controller normally regulates the flow of energy from the panels to the energy storage system, which is connected directly as a DC-coupled system. One of the most important results is that the batteries in the storage system have a longer lifespan. The solar charge controller usually prevents systems from being overloaded and sometimes even from power surges that can pose a safety risk. A solar charge controller, or more commonly a charge controller, is mainly used to prevent batteries in solar power systems from being overcharged by regulating the current or voltage generated by the solar panels. Charge controllers are typically not needed for trickle charge panels or low capacity panels such as B. 1-5 watt panels. With solar panels becoming more and more popular for energy storage, it is important to find a way to regulate the flow of energy as these have a much higher capacity. In addition, worldwide safety regulations for the use of solar modules and batteries prevent them from being overcharged as they can seriously damage all storage and even panel systems.
Market trends for solar charge controllers:
Severe environmental concerns about reducing greenhouse gas emissions, encouraged by government reforms to promote clean energy, will fuel the solar charge controller market. The lower cost of solar panels in relation to the increase in solar systems in the commercial, utility and residential sectors will drive adoption of the product. The minimal emissions from solar batteries are the main factor favoring the penetration of the product.
Recent developments in the solar charge controller market:
- Schneider Electric launches off-grid solar charge controllers. The power electronics company offers a product that works independently of the grid and can charge discharged batteries with a solar panel on the roof.
Market driver for solar charge controllers
The solar charge controller is used in solar systems for private households, in industrial companies in which solar modules are used for electricity operation, and in large solar projects. The cost of generating solar energy is falling rapidly worldwide as solar energy reaches grid parity with conventional fuel sources. As there is massive use of solar energy in countries in Southeast Asia and other regions of the world due to the growing commitment to the goals of climate change, an escalation in expansion is forecast for solar controllers. Large systems and large solar power systems are expected to be the most important expansion factors for solar charge controllers of the MPPT type.
Restrictions:
On the other hand, an escalation in solar capacity can restrict the existing electrical infrastructure, especially in countries with growing solar markets.
Opportunities in the solar charge controller market:
Factors such as government policies in support of solar energy, the increasing development of off-grid power systems, and the rise of solar power systems are the main drivers of the solar charge controller market. Off-grid electrical devices such as street lights are also rapidly evolving and expanding to improve power generation systems and promote energy savings. In addition, almost all developing regions are striving to maximize the use of solar energy and reduce dependence on fuel-based electricity generation. The increasing awareness of the benefits of solar energy is expected to propel the global solar charge controller market worldwide in the allotted time.
Market challenges for solar charge controllers:
Installing new solar power grids could be a costly endeavor, which in turn will limit the market for solar charge controllers. In addition, solar devices and other renewable technologies rely heavily on rare earth elements, which can create a high risk of power outages.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market size available |
2019-2025 |
|
Base year |
2019 |
|
Forecast period |
2020-2025 |
|
CAGR |
15.3% |
|
Covered segments |
By product, type, consumption, sales channel and region |
|
Various analyzes covered |
Analysis at global, regional and country level, analysis at segment level, DROC, PESTLE analysis, five forces analysis by Porter, competitive landscape, analyst overview of investment opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East and Africa |
|
Distinguished market leader |
Genasun (Italy), Luminous India (India), Microtek (China), Schneider Electric (France), Su-Kam Power Systems (India), Arise India (India), Delta Electronics (India), Sungrow Power Supply Co., Ltd . (China), Victron Energy (Netherlands) and Beijing Epsolar Technology Co., Ltd (China). |
Market segmentation for solar charge controllers:
By type:
- PWM (pulse width modulation)
- Simple 1- or 2-stage control
- MPPT (Maximum Power Point Tracking)
The pulse width modulation (PWM) solar charge controller market is expected to grow due to its ability to control the flow of energy in small to medium-sized solar systems. The optimal use of resources in combination with the automatic voltage adjustment are the main drivers of the business dynamics. Government initiatives and regulatory programs, including tax cuts to save energy, will further bolster the outlook for the industry.
On application:
- Commercially
- Industrial
- Residential
The solar charge controller is used in solar systems for private households, in industrial companies in which solar modules are used for electricity operation, and in large solar projects. The cost of generating solar energy is falling rapidly worldwide as solar energy reaches grid parity with conventional fuel sources.
Market analysis for solar charge controllers: Regional analysis:
The Solar Charge Controller Market The report includes the segmentation of the regions by their respective countries.
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Among the regions covered, the Asia-Pacific region is expected to have the highest market share as more solar power systems are deployed in the region for off-grid and remote electrification purposes. In countries like China and India in particular, government policies and incentive structures are contributing to the rapid introduction of solar energy, which in turn is driving the market for solar charge controllers. In addition, the North America region is the next big market for solar charge controllers as the region continuously invests in building large solar power plants. The Asia-Pacific region dominates the regulatory freight market, followed by the Middle East, North and South Africa and America. This dominance is due to factors such as the escalation in energy demand, growing environmental awareness, and increasing demand for solar energy in various countries such as China. The Asia-Pacific region, as well as the Middle East and Africa, are expected to grow relatively quickly and gain significant market share in terms of value over the allotted time frame. Europe as well as North America and Latin America are likely to grow significantly.
Market players for solar charge controllers:
The report provides detailed information and strategies from key industry players such as Genasun (Italy), Luminous India (India), Microtek (China), Schneider Electric (France), Su-Kam Power Systems (India) and Arise India (India), Delta Electronics (India), Sungrow Power Supply Co., Ltd. (China), Victron Energy (Netherlands) and Beijing Epsolar Technology Co., Ltd. (China).
1 Introduction
1.1 Market definition
1.2 Scope of the report
1.3 Study assumptions
1.4 Base currency, base year and forecast periods
2. Research methodology
2.1 Analysis design
2.2 Research Phases
2.2.1 Desk research
2.2.2 Primary research
2.2.3 Data modeling
2.2.4 Expert validation
2.3 Study timeline
3. Report overview
3.1 Summary
3.2 Key conclusions
4. Market dynamics
4.1 Impact analysis
4.1.1 Driver
4.1.2 Limitations
4.1.3 Possibilities
4.2 Regulatory environment
4.3 Technology timeline and current trends
5. Competitive benchmarking analysis
5.1 Key player benchmarking
5.1.1 Market share analysis
5.1.2 Products / Services
5.1.3 Regional presence
5.2 Mergers and takeover landscapes
5.3 Joint Ventures and Cooperations
6. Market segmentation
6.1 Market for solar charge controllers by type
6.1.1 PWM
6.1.2 Simple 1- or 2-stage control
6.1.3 MPPT
6.1.4 Market Size Estimates and Forecasts (2019-2024)
6.1.5 Analysis of the Y-o-Y growth rate
6.1.6 Market Attractiveness Index
6.2 Solar Charge Controller Market by Application
6.2.1 Commercial
6.2.2 Industry
6.2.3 Housing
6.2.4 Market Size Estimates and Forecasts (2019-2024)
6.2.5 Analysis of the Y-o-Y growth rate
6.2.6 Market Attractiveness Index
7. Geographical landscape
7.1 Global Identity Governance and Administration Market by Region
7.2 North America – Market Analysis (2018-2024)
7.2.1 By country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By type
7.2.3 After application
7.3 Europe
7.3.1 By country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By type
7.3.3 After application
7.4 Asia Pacific
7.4.1 By country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 Southeast Asia
7.4.1.6 Australia & New Zealand
7.4.1.7 Rest of Asia Pacific
7.4.2 By type
7.4.3 After application
7.5 Latin America
7.5.1 By country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By type
7.5.3 After application
7.6 Middle East and Africa
7.6.1 By country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 According to type
7.6.3 After application
8. Key player analysis
8.1 Genasun
8.1.1 Business Description
8.1.2 Products / Services
8.1.3 Finances
8.1.4 SWOT analysis
8.1.5 Latest developments
8.1.6 Analyst overview
8.2 Shining India
8.3 Microtek
8.4 Schneider Electric
8.5 Su-Kam Power Systems
8.6 India emerge
8.7 Delta Electronics
8.8 Sungrow Power Supply Co., Ltd.
8.9 Victron Energy
8.10 Beijing Epsolar Technology Co., Ltd.
9. Market outlook and investment opportunities
appendix
List of tables
List of figures