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
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.