A recent report published by Infinium Global Research on solar charge controller market provides in-depth analysis of segments and sub-segments in the global as well as regional solar charge controller market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional solar charge controller market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global solar charge controller market. According to the report, the global solar charge controller market is projected to grow at a CAGR of 15.5% over the forecast period of 2019-2025.
The requirement of electrical energy is rapidly increasing with population growth and technology development. Multiple advantages of solar energy in day-to-day life are the key factors behind the usage of solar energy for various purposes. Solar energy is used for producing electrical power with the help of solar panels and for storing the electrical energy by charging the batteries or feeding into loads. Solar charge comptroller has majorly used in off-grid solar systems and forms an important part of these systems. Maximum Power Point Tracking Technology (MPPT) is the most efficient method among various solar charge controllers. The solar charge controller generally works by regulating the flow of energy from the panels to the energy storage system that is directly connected as a DC-coupled system.
Increasing the demand for solar power in the emerging economies especially in areas where electricity is needed the most significantly drives the growth of the solar charge controller market. Furthermore, factors such as a rise in the competitiveness of solar photovoltaic and rise in government initiatives and programs due to increased demand for electricity are also driving the growth of the market. The rapidly growing and developing off-grid electrical equipment in order to improve electricity generation systems and promote energy conservation is fueling the growth of the solar charge controller market. However, the high maintenance cost of solar charge controllers restraining the growth of the market. Moreover, the increasing investment in infrastructural development and continued advancements in technology is anticipated to provide growth opportunities to the global solar charge controller market in the forecasted period.
Geographically, Asia-Pacific dominates the global solar charge controller market due to the growing demand for energy, increasing environmental awareness and rising awareness about solar energy in countries such as India and China. The development of smart cities in Asia-Pacific will drive the demand for a solar charge controller that is abundant and clean source of energy. North America is the second largest market for solar charge controller market due to the high penetration of advanced technology that is being utilized for harvesting energy from renewable resources in order to meet the growing energy demand.
The report on global solar charge controller market covers segments such as type and end-users. On the basis of type, the sub-markets include simple 1 or 2 stage controls, maximum power point tracking (MPPT), and pulse-width modulation (PWM). On the basis of end-users, the sub-markets include utility scale, commercial, industrial buildings, and solar home systems.
The report provides profiles of the companies in the market such as Xantrex Technology Inc., OutBack Power Inc., Steca Elektronik GmbH, Luminous Power Technologies Pvt. Ltd, Genasun LLC, Phocos AG, Beijing Epsolar Technology Co., Ltd., Sollatek, Microtek, Schneider Electric SE, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of solar charge controller market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
Get free analyst support for the queries before and post purchasing report.
Be assured of 100% customer satisfaction about the research and get 24X7 customer support.
Infinium has achieved over 400%+ growth in its repository and revenue over the last 2 years. Yes, we are proud to say we are growing at a great pace and becoming a trusted partner among our clients.
sign up for our newsletter