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Solar Charge Controller Market Segmentation by Type (Pulse Width Modulation, and Maximum Power Point Tracking); and by End-User (Residential, Commercial, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Solar Charge Controller Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·   January 14, 2021: Trina Solar Co. Ltd., launched Trina Tracker Vanguard 600+ Series which can increase the solar panel efficiency by 2%-8%.

Global Solar Charge Controller Market Highlights over 2022 – 2030

The global solar charge controller market is estimated to grow at a CAGR of ~15% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing need to control the voltage and power supply from the solar panels. Solar charge controllers are primarily used in off-grid solar panels, to regulate the flow of energy into the batteries. The rising adoption of solar energy across the world, has led to the demand for a controller system to regulate the working of these panels. The growing awareness for the use of clean and renewable energy to curb the rising pollution level is a major growth driver for the market. Moreover, the increasing prominence of utility of solar energy on residential scale is expected to boost the market growth. According to the data by the International Energy Agency (IEA), solar power generation crossed 720 TWh in 2019, registering a growth of 22% from last year.  

Solar Charge Controller Market

The market is segmented by end-user into residential, commercial, and others, out of which, the residential segment is anticipated to hold the notable share in the market over the forecast period as most residential usage of solar power plants is off-grid, which requires charge controllers for proper functioning. Solar charge controllers transform and control the flow of the current generated from solar panels and pass it to the connected batteries. This prevents the batteries from over charging and discharging. This is estimated to boost the growth of the market. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Solar Charge Controller Market Regional Synopsis

On the basis of geographical analysis, the global solar charge controller market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to grab major share over the forecast period on the back of increasing adoption of solar farms as a commercial activity, and technological advancement in the region. According to the data by the U.S. Energy Information Administration (EIA), there were more than 2,500 utility scale solar power plants in the U.S. in 2018. This is estimated to raise the demand for solar charge controller in the region.

The market in the Asia Pacific is estimated to record highest CAGR in the forecast period owing to the growing adoption of renewable energy sources, especially solar energy, in countries such as China, India, Japan, and Thailand. China currently is the largest producer of solar energy in APAC region. The growing adoption of solar power plants, is estimated of positive influence the solar charge controller market.

Solar Charge Controller Market

The global solar charge controller market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global solar charge controller market includes the following segments:

By Type

  • Pulse Width Modulation
  • Maximum Power Point Tracking

By End-User

  • Residential
  • Commercial
  • Others

Growth Drivers

  • Increasing Adoption of Solar Panels
  • Adoption of Off-Grid Solar Power Plants in Residential Use

Challenges

  • Lack of Application in Commercial Use
  • Slow Adoption at the Residential Scale

Top Featured Companies Dominating the Market

  • Beijing Epsolar Technology Co., Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • ShenZhen Alenson Electronic CO., Ltd.
  • Schneider Electric SE
  • Victron Energy B.V.
  • Wenzhou Xihe Electric Co., Ltd.,
  • Centralion Industrial Inc.
  • Morningstar Corporation
  • Shanghai Aiko Solar Energy Co., Ltd.
  • JA Solar Technology Co., Ltd.
  • Sharp Corporation

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