Global Solar Charge Controllers Market -
Scenario
Commonly known as charge regulator, a solar charge
controller is used to prevent the overcharging of the batteries in the solar
power systems. It regulates the current or voltage produced by the solar
panels. 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 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.
Global Solar Charge Controllers Market
Segmentation
The global solar charge controllers market can be
segmented into application, type, and lastly region. 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.
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.
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.
Due to technological advancement, Japan is another important country-specific
market, followed by the remaining countries of the Asia Pacific region. Some of
the major market players are based in the Asia Pacific region.
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.
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. 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.
Key
Players
The key players in the global solar charge controllers
market include Arise India (India), Beijing Epsolar Technology Co. Ltd. (China)
Delta Electronics (India), Genasun (Italy), Luminous India (India), Microtek
(China), Schneider Electric (France), Su-Kam Power Systems (India), Sungrow
Power Supply Co. Ltd. (China), and Victron Energy (Netherlands).
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