Solar Charge Controller Market – Industry Trends and Forecast

Fortune Business Insights published a new report, titled, “Solar Charge Controller Market Share 2024-2026“ The Global Solar Charge Controller Market Size Stood At Usd 1.12 Billion In 2018 Is Projected To Reach Usd 3.59 Billion By 2026, Exhibiting A Cagr Of 15.8% During The Forecast Period From 2019 – 2026. Solar Charge Controller Market Size, Share and Global Trend by Type (Pulse-Width Modulation (PWM) Charge Controller, Maximum Power Point Tracking (MPPT) Charge Controller), By Application (Residential, Commercial, Industrial, Utility), and Geography Forecast till 2026.

Key Industry Developments:

In June 2021, Growth, a China-based inverter company launched a 1,100 V string inverter solution consists of about 10 independent maximum power point tracking (MPPT) inputs, with MPPT voltage varying from 180-1,000 V. The product is fabricated with power ratings between 100 to 125 kW with an efficiency of around 98.8% and is designed for installation across utility-scale and commercial solar power plants.

Solar Charge Controller Market Drivers & Restraints-

Need to Reduce Greenhouse Gas Emission Will Boost Growth

Increasing implementation of green energy targets by the governments of various countries is set to accelerate the solar charge controller market growth. It is mainly occurring because of the urgent need to lower greenhouse gas emissions in the environment. It would also control the rising temperature that is occurring year after year. However, the utilization of other green energy sources, other than solar energy, may hamper the market growth.

Fortune Business Insights™ lists out all the renowned organizations operating in the solar charge controller market. They are as follows:

• Victron Energy (Netherlands)
• Morningstar Corporation (USA)
• Genasun (Netherlands)
• Arise India Ltd. (India)
• Vispra Solar – (India)
• Easy Photovoltech Private Limited. (India)
• Xantrex Technologies (USA)
• Phocos (USA)
• Beijing Epsolar Technology Co., Ltd. (China)
• Luminous Power Technologies (P) Ltd (India)
• Steca – A KATEK Brand (Germany)
• Wenzhou Xihe Electric Co., Ltd. (China)
• OutBack Power Technologies (USA)
• Sollatek UK Limited (United Kingdom)
• Other prominent market players

Competitive Landscape-

Key Players Focus on Launching Innovative Products to Gain Competitive Edge

The companies present in the market are persistently striving to strengthen their position by launching state-of-the-art products. Several government agencies are also engaging in solar power installation projects in rural areas for electrification and reducing the emission of carbon in the atmosphere. Below are a couple of the latest key industry developments:

• October 2019: Solar Energy Corporation of India Limited (SECI), a solar energy company of the Government of India, invited bids to provide around 500 solar home cooking systems to various districts in different states. The districts are Modhera (Gujarat), Bahraich (Uttar Pradesh), Girdih (Jharkhand), Bastar (Chhattisgarh), and Ribhoi (Meghalaya). The scope of work consists of commissioning, testing, erection, supply, manufacture, and design, as well as a one-year warranty on all the accessories and equipment installed.

Regional Market Analysis-

Asia Pacific to Lead: Rising Demand for Energy Will Favor Growth

Geographically, the market is segregated into Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. Out of these regions, Asia Pacific is anticipated to dominate in terms of share during the forthcoming years. This growth is attributable to the increasing number of planned solar power installation projects in this region. In the residential sector, solar panels are being installed at a fast pace to meet the upsurging demand for energy. China is likely to contribute to the maximum growth backed by the government’s implementation of the 13th five-year plan. In 2018, Asia Pacific held USD 0.39 billion in terms of solar charge controller market revenue.

Highlights of This Report:

• Elaborate information about the solar charge controller market trends, opportunities, and challenges.
• Growth drivers and obstacles.
• List of all the possible segments present in the market.
• Competitive landscape, such as contracts, agreements, investments, partnerships, mergers and acquisitions, and innovative product launches.

Rеаѕоnѕ to Get thіѕ Rероrt:

• A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
• Data on market value for each section and sub-segment
• Indicates the region and market segment that is likely to expand the fastest and dominate the market.

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