Global Solar Charge Controllers Market – Overview
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.
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.
Governments are taking initiatives to encourage the use of renewable resources such as solar power. Developed and developing nations are increasingly making use of the solar power for increasing the solar energy concentration in the energy mix and reduce dependence on fossil fuels. The growing awareness about the benefits of renewable energy, rise in the number of solar and wind projects around the globe acting as major factor which will consequently propel the demand for solar charge controller systems. Moreover, Several vital features, such as protecting the battery from over charging, high reliability, monitoring the reverse current, providing auto charge indication, etc. are expected to contribute to the growth of Solar Charge Controller Market across the globe.
According to a recent study report published by the Market Research Future, The global market of Solar Charge Controllers is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a striking growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
Solar Charge Controllers Market – Competitive Analysis
Solar Charge Controllers market appears to be competitive with the presence of several large and small players operating in the Solar Charge Controllers market. These Key players compete based upon pricing, quality, Technology and reputation. Solar Charge Controllers market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Manufacturers operating in the Solar Charge Controllers market strive to respond to the growing demand for Solar Charge Controllers. Moreover, manufacturers mainly ensure to deliver the best quality products based on innovative technologies, and best practices.
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Solar Charge Controllers Market – Segments:
Global Solar Charge Controllers Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Type:
- MPPT (Maximum Power Point Tracking)
- PWM (Pulse Width Modulation)
Segmentation by End-User:
- Residential
- Non-residential
Segmentation by Regions:
- North America
- Europe
- APAC
- Rest of the World
Solar Charge Controllers Market – Regional Analysis
Geographically, there are four key regions in which the global Solar Charge Controllers market is spanned across. It includes Asia Pacific, Europe, North America, and Middle East & Africa. Asia-Pacific is one of the largest markets for Solar Charge Controller in the world. There is an increasing demand for energy because of the growing population and rising disposable income in the region. 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. There is an increasing demand for energy because of the growing industrialization, increasing concern of reducing carbon footprint and rising installations of renewable energy generating plants.
Solar Charge Controllers Market – Key Player
The prominent players in the solar charge controllers 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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Solar Charge Controllers Market – Table of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
To be Continue….,
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