Published on : Mar 14, 2018
Albany, New York, March 14, 2018: A fresh study, titled “Solar Charge Controller Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” has been recently published to the online repository of Market Research Hub (MRH). This 172-page study aims to provide a comprehensive analysis of the current market trends and future estimations in the market. Moreover, the report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global solar charge controller market growth during the said period. As per the report key conclusions, the global solar charge controller market is poised to exhibit impressive growth in the coming years.
Major Takeaways from the Study
To elaborate further on the expected growth, the research presents an important section of the market overview and dynamics which includes market current scenario on the basis of type, end-use and regional analysis. Geographically, the report is segmented into the solar charge controllers market into North America, Middle East & Africa (MEA), Europe, Asia Pacific, and South America; the regions are analyzed in terms of revenue and volume generation along with the CAGR for the period from 2015 to 2025. The analysis reveals that the market will considerably benefit from the increasing use of solar energy and steps taken to curb the dependence on non-renewable energy sources. Rising at a favorable CAGR of 16.2% between 2017 and 2025, the market is likely to reach US$86,087.5 mn by the end of 2025.
Solar charge controllers are required by most solar power systems that involve the use of batteries. Based on the type, the solar charge controller market is classified into the pulse-width modulation (PWM) charge controller, maximum power point tracking (MPPT) charge controller, and simple 1 or 2 stage controls. Of these, it has reported that rising penetration of PWM across diverse end-use industries. By end use, utility-scale, commercial and industrial buildings, and solar home systems constitute the key segments in the global solar charge controller market.
Moving further, the study also finds that favorable climate change policies and clean fuel agenda will draw a positive growth trajectory for the global solar controller market. Owing to these reasons, Asia Pacific held the dominant share in the market in 2016. Also, the Asia Pacific market for solar charge controllers is also estimated to exhibit the highest growth during the course of the report’s forecast period due to the increase in the demand from industrial and residential segments.
The global market for solar charge controllers is fragmented, where the market players are focusing on leveraging opportunities in emerging economies. Key market participants identified by the report include Xantrex Technologies, Beijing Epsolar Technology Co., Ltd, Genasun LLC, Luminous Power Technologies Pvt. Ltd, Wenzhou Xihe Electric Co., Ltd, OutBack Power Inc, Phocos, Steca Elektronik GmbH, and Sollatek.
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