Solar Charge Controller Market Dimension, $ 4.15 Billion By 2027: Grand View Analysis, Inc.- PRNewswire
SAN FRANCISCO, July 6, 2020 / PRNewswire / – Solar Charge Controller Market Expected to reach global size $ 4.15 billion According to a new report from Grand View Research, Inc., the implementation of climate protection policy along with the provision of government subsidies for electricity generation from renewable energy is expected to increase by 2027, with the CAGR increasing by 15.1% from 2020 to 2027 market growth over the forecast period .
Key suggestions from the report:
- By type, the Pulse Width Modulation (PWM) segment accounted for a significant market share in 2019 as the PWM charge controller can self-adjust to the battery condition and provide a constant voltage battery charge
- Maximum Power Point Tracking (MPPT) is expected to expand with the fastest CAGR in the forecast period. The growth is due to the higher efficiency of MMPT technology and its ability to draw the maximum available power from the PV module under certain conditions
- The commercial applications segment had the largest market share in 2019 and is expected to expand with the highest CAGR over the forecast period. The increasing use of solar PV modules to generate electricity in commercial offices should stimulate demand for solar charge controllers across the segment
- Asia Pacific dropped in 2019 China be the highest sales driver. The presence of large manufacturers, as well as significant investments in the solar industry, which result in lower production costs, should encourage market growth in China.
Read the 90-page research report with ToC on the subject of "Solar Charge Controller Market Report, Analysis of Shares and Trends by Type (Pulse Width Modulation, Tracking Maximum Power Points), by Application, by Region and Segment Forecast, 2020-2027" at: https: // www .grandviewresearch.com / industry-analysis / solar-charge-controller-market
The growing need for a reliable power supply under harsh environmental conditions or in remote locations has led to the increasing use of off-grid photovoltaic systems, which in turn has had a positive effect on the demand for solar charge controllers in these regions. In addition, battery storage solutions for renewable energy are expected to support market growth over the forecast period.
Solar charge controllers extend battery life by regulating the flow of voltage and current from PV modules to the battery during the day and preventing excessive discharge flow from the battery to the solar modules during the night. Innovative technological advances, including controls built into automatic nighttime detection functions, intelligent sensor technology, and intelligent communication technologies such as Bluetooth, are expected to improve the functionality of the product across the industry.
Important industry participants find lucrative market growth opportunities in the EU Asia Pacific Region with inexpensive product manufacturing in developing countries. Market participants exert a great deal of forward integration to improve their grip and market share in the solar industry. In addition, manufacturers are investing massively in innovative technologies such as Maximum Power Point Tracking (MMPT), as a higher performance is achieved compared to PWM technology (Pulse Width Modulation).
Grand View Research has segmented the global solar charge controller market by type, application, and region:
- Solar charge controller type outlook (sales, million USD, 2016-2027)
- Pulse width modulation (PWM)
- Maximum Power Point Tracking (MPPT)
- Solar Charge Controller Application Outlook (Revenue, $ Mn, 2016-2027)
- Regional Outlook for Solar Charge Controllers (Revenue, Million USD, 2016-2027)
- North America
- UNITED KINGDOM.
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- List of the major players in the Solar Charge Controller Market
- Morningstar Corp.
- Schneider Electric
- Beijing Epsolar Technology Co., Ltd.
- Wenzhou Xihe Electric Co., Ltd.
- Sunforge LLC
- Bright India
- KATEK Memmingen GmbH
- Victron Energy
Additional research reports on the renewable energy industry from Grand View Research:
- Wind Power Market – The growing need to replace conventional energy sources with renewable energy sources is expected to drive the market in the coming years. The generation of solar and wind energy, which was considered expensive two decades ago, is now considered to be more cost-effective than the coal or gas system that is newly built today.
- Rooftop Solar PV Market – The increasing use of renewable energy to generate electricity, as well as the abundant availability of solar energy during the day, are likely to drive market growth.
- Energy Retrofit Systems Market – The increasing demand for energy efficient systems that preferentially consume renewable electricity is expected to drive the market over the forecast period.
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Grand View Research, a US-based research and advisory firm, provides syndicated and bespoke research reports and advisory services. Registered in California and headquartered in San FranciscoThe company comprises over 425 analysts and consultants and expands its extensive database by more than 1200 market research reports every year. These reports provide detailed analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess the opportunities ahead.
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