Market Research Future (MRFR) has
published a research report about the global solar charge controllers market
that has gauged growth for this market at 15.02% CAGR (Compound Annual Growth
Rate) during the forecast period that would end in 2023.
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 most crucial factor guiding the global solar
charge controllers market growth is a series of global safety regulations
regarding the use of solar panels and batteries that prevent batteries from
overcharging. Another factor that maintains the market growth is the longer
life for battery in the storage system. Usually, the solar charge controllers
are designed as circuit integrated within a battery pack, but sometimes, they
are complete standalone systems.
Competitive
Dashboard
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) and Beijing Epsolar Technology Co., Ltd (China).
Access
Full Report at: https://www.marketresearchfuture.com/reports/solar-charge-controllers-market-4280
Segmental
Analysis
The global solar charge controllers market can be
segmented into application, type, and lastly region.
By type, the market can be segmented into maximum
power point tracking (MPPT), pulse width modulation (PWM), and Simple 1 or 2
stage controls. MPPT is defined as an algorithm that includes in charge
controllers that are used for extracting maximum available power from
photovoltaic (PV) module under certain conditions. The voltage at which the PV
module can produce maximum power is called peak power voltage or maximum power
point. Pulse width modulation (PWM) is a powerful technique useful for
controlling analog circuits with a microprocessor's digital outputs. Simple 1
or 2 stage controls maintain voltage in one or two steps.
The application-based segmentation segments this
market into commercial, industrial, and residential. Commercial areas are where
retail stores and business offices are located. Industrial areas are where
factories and manufacturing units are located. Residential areas are where
houses and residential buildings are located.
Regional Outlook
The
regional segmentation of the global solar charge controllers market can segment
the market into the regional markets namely North America, Asia Pacific,
Europe, and the Middle East & Africa (MEA).
Among
all regional market, the highest market share is held by the Asia Pacific
region due to increasing solar power installations for off-grid and remote
electrification purposes. In countries like China and India, many government
policies, as well as incentive structures, are contributing to the fast
adoption of solar power, resulting in market growth.
North
America is the second most important regional market due to continuous
investment in building large-scale solar based utility plants. The maximum
investment, as well as revenue, comes from the USA and Canada.
In
the MEA region, the market is minimal due to emerging countries, lack of
skilled labor, lack of education, lack of awareness, and lack of technological
advancement.
Europe
is another important regional market in this region due to the presence of many
key market players. The paramount country-specific markets in this region are
Germany, France, Spain, and the UK, followed by the remaining countries of
Europe.
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