Global Solar Charge Controller Market: Snapshot
As governments around the world focus on reducing pollution, the demand for alternative means of generating electricity will increase. Against this background, various markets have seen tremendous growth in the recent past, including the global market for solar charge controllers. Market research for transparency has shown that the market is currently in a transition phase, mainly driven by various government initiatives and the shift in preference for renewable energy sources for power generation. In conjunction with this, technological innovations and the commercialization of solar charge controllers will result in robust market growth.
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In contrast to the growth drivers mentioned above, market participants often cause enormous installation costs. In addition, the maintenance costs for solar charge controllers are very high, which hinders the smooth sailing of the market. However, the increasing investments in infrastructure development and the ongoing advancement of technology offer enormous opportunities for the growth of the global market for solar charge controllers in the coming years.
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The demand for MPPT charge controllers is increasing as tests indicate better performance in cold and temperate climates
To provide a detailed overview, the report segments the global Solar Charge Controller Market by type and end use, partly from the region. Depending on the type, the market for solar charge controllers is divided into PWM charge controllers (pulse width modulation), MPPT charge controllers (Maximum Power Point Tracking) and simple one- or two-stage controls. Of these, TMR has seen an increasing spread of PWM in various end-use industries. A PWM solar charge controller cuts off excess solar voltage, which in turn leads to a loss of overall power. As a result, the overvoltage generated by the solar system is reduced to the voltage value of the battery. The demand for PWM solar charge controllers has therefore been high in recent years. However, the MPPT segment is likely to gain momentum in the coming years as tests have shown that MPPT charge controllers outperform PWM charge controllers in cold and temperate climates.
In terms of end-use, utility standards, commercial and industrial buildings and solar house systems are the key segments in the global solar charge controller market. Of those with the largest market share, the supply scale dominated in 2016. In addition, there has been impressive growth in cards for the industrial and home systems segments as the world realizes the benefits of solar energy.
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Asia-Pacific will continue to have lucrative prospects in the forecast period
In terms of region, the global Solar Charge Controller market has been segmented into North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. Among these regions, the Asia-Pacific region holds the maximum share of the global solar charge controller market. The increasing demand for solar charge controllers from economies such as India, China and Japan will create lucrative prospects for the market in the region. The Asia-Pacific market is also likely to show the strongest growth over the reporting period due to increased demand from industrial and residential segments. The demand observed in Europe and North America could be affected a little in the coming years as the markets are mature, while the Middle East and Africa and Latin America are identified as emerging markets and are expected to have significant growth opportunities over the forecast period.
The major players in the global Solar Charge Controller market are expected to benefit from the emerging market. Prominent players in the global solar charge controller market are OutBack Power Inc., Xantrex Technologies, Genasun LLC, and Luminous Power Technologies Pvt. Ltd. Ltd., Wenzhou Xihe Electric Co., Ltd., Phocos, Beijing Epsolar Technology Co., Ltd., Steca Elektronik GmbH and Sollatek among others.