Global Solar Charge Controllers Market is forecasted at approximately 15.02%.CAGR by 2023

Global Solar Charge Controllers Market Research Report
Global Solar Charge Controllers Market, By Type (MPPT (Maximum Power Point Tracking) and PWM (Pulse Width Modulation)), By End-User (Residential and non-residential and Regions – Forecast 2017-2023.

Market Highlights

The solar charge controller is the most important component of a solar energy system. It makes it possible for all the other parts to work together and help to reduce the voltage of solar panel. Basic charge controller simply monitors the battery voltage and opens the circuit, stopping the charging, when the battery voltage rises to a certain level. Whereas, modern charge controller lowers the amount of power applied to the batteries, when it is close to get overcharged. The latest trend gaining momentum in the solar charge controllers market is increasing demand for MPPT charge controllers. The most recent and best type of solar charge controller is called Maximum Power Point Tracking (MPPT). MPPT controllers are basically able to convert excess voltage into amperage. Global Solar Charge Controllers Market is forecasted at approximately 15.02%.CAGR

key players in the global solar charger controllers market are

  • 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)
  • Beijing Epsolar Technology Co., Ltd (China).

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Market Research Future Analysis:

Market Research Future analysis show that the global market of solar charge controllers market is estimated to grow at CAGR of 15.02 % by the end of the forecast period.

Solar energy policy is developed by governments to sustain its growth including solar energy production, distribution and consumption. Solar energy policies include legislation, international treaties, and incentives to investment such as the formation incentives in the U.S. In many countries, such as India and EU countries, the policies such as feed-in-tariff (FIT), portfolio standard (RPS), tax credits, pricing laws, production incentives, quota requirements, and trading systems, have been developed and implemented to promote the use of solar energy. Many industrialized nations have integrated a considerable number of solar power installations with the electrical grids. On the other hand, developing economies are using solar energy to reduce their dependence on fossil fuel-based power generation.

Solar charge controllers also called as solar regulators. It is applied on 12V batteries, because this voltage is most commonly used in isolated solar systems. Over the past few years, usage of solar power utilization is increased significantly and is expected to grow rapidly in the coming years. As cleanest and more sustainable energy, solar energy system is familiar with a wide variety of applications like domestic, commercial and industrial applications.

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Solar charger controllers market for segment on the basis of type, end user and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of type, it is segmented into MPPT (Maximum Power Point Tracking) and PWM (Pulse Width Modulation). PWM and MPPT charge controllers are both widely used to charge batteries with solar power. The MPPT controller is the solution of choice for higher power systems. MPPT is the latest technology meant to extract maximum from the solar panel. They operate according to the panel voltage and converts extra voltage of panel into current which increases the output from the solar system. The PWM charge controller is the most common, least expensive, and easiest to deploy solar charge controller technology. It acts as a good low cost solution for small systems. On the basis of end user, it is categorized into residential and non-residential. Non-residential segment dominated the solar charge controllers market. With numerous government initiatives, implementing energy management systems (EMS) and inverters with solar PV panels on non-residential buildings acts as major driver for the growth of solar regulators.

Asia pacific will be the largest market

Asia-Pacific is one of the largest markets for solar charge controllers in the world. There is an increasing demand for energy because of the growing population and rising disposable income in the region. Moreover, these rapidly growing economies in this region are also the top polluters in the world. Solar energy is identified as the best replacement to other conventional fossil fuel energy sources and is used to reduce carbon emission by effectively meeting the electricity needs.

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