Global Solar Charge Controller Market By Type (Pulse Width Modulation, Maximum Power Point Tracking (MPPT), and Others), By Application (Industrial, Commercial, and Residential), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032
- Published date: Aug 2022
- Report ID: 35118
- Number of Pages: 213
- Format:
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Solar Charge Controller Market Overview:
In 2021, the valuation of the global market for solar charge controllers was USD 1,450 million and is forecast to increase at a compound annual growth rate (CAGR of 15.3%) between 2023-2032.
Global Solar Charge Controller Market
Type Analysis
The large revenue share, 45.8%, was attributed to the Pulse Width Modulation segment. It supplies constant voltage battery chargers and the ability to recover lost battery capacity. Pulse Width Modulation pulses self-regulate to the battery condition, its recharging requirements, temperature effects, voltage drops in the solar system, and other factors such as temperature changes.
A longer battery life, higher battery reserve capacity, and efficient use of solar array energy are some of the key factors keeping the Pulse Width Modulation segment competitive.
The maximum PowerPoint Tracking segment (MPPT) is expected to experience the fastest growth in the forecast period. MPPT charge regulators extract the maximum power from the photovoltaic panel under specified conditions. This allows users to install solar PVs with a higher output voltage than the operating voltage of their battery system. This segment has a higher efficiency rating than the Pulse Width Modulation solar charging controllers and will see significant growth in the future.
Market players are now investing in MMPT technology to improve power outputs using charge controller devices. Xantrex is an example of a company that manufactures advanced MMPT charging controllers. These charge controllers increase the daily energy harvest by 30% when compared to conventional Pulse Width Modulation technology. This device has dual battery bank outputs to charge house and starter batteries.
Application Analysis
The commercial segment had a 54.7% revenue share in 2021 and will see the most growth over the forecast period. Demand for the solar charge controller is expected to rise with the rising power demand from communication base stations and data centers. The controller controls the battery’s health and ensures optimal functioning in commercial spaces.
The forecast period will see significant growth in the industrial segment. The MPPT solar charge controllers do not include load output terminals and are designed for large-scale projects. The controllers can be incorporated with massive off-grid converters in large-scale solar arrays. The forecast period will see a rise in demand for clean electricity and an increase in industrial-scale projects.
The market share of the residential segment was smaller than that of the industrial and commercial segments in 2021. In the residential segment, solar energy is a reliable source of secondary energy and provides power for all household appliances.
A solar charge controller is installed in residential solar panels. It monitors PV panels current flow and batteries over the day and blocks discharge flow back to panels during the night.
Key Market Segments
Type
- Pulse Width Modulation
- Maximum Power Point Tracking (MPPT)
- Others
Application
- Industrial
- Commercial
- Residential
Market Dynamics
Market growth will be boosted by favorable government policies on clean fuels and increased deployment of solar energy systems off-grid across a variety of end-use sectors.
In order to avoid excessive charging or discharging, the solar charge controller regulates the current and voltage flow from the solar panel to the connected battery. In order to manage power flow in off-grid applications, the demand for chargers will increase due to the increased demand for continuous energy supply in urban and mobile environments.
China’s market is expected to grow significantly in the future due to the presence and growth of major manufacturers in the region. Significant investments in this industry have led to low-cost manufacturing and distribution of solar-related products and devices. This is expected to create growth potential for the market during the forecast period.
Technological innovations, such as controllers that are equipped with smart communication technology (e.g. Bluetooth, smart night detection capabilities, and sensor technology), have a positive impact on the functionality of solar charge controllers. The industry will benefit from the integration of innovative technologies with established technology.
In the next few years, favorable regulatory policies such as net metering, feed-in tariff, and subsidies that encourage solar energy adoption across different end-use sectors will all be key to enhancing the industry dynamics. Market growth will be slowed by the low availability of grid infrastructure in some regions and the high price of installing solar-based power grids.
Regional Analysis
The Asia Pacific held the largest market share at 35.8% in 2021. It is expected to experience the fastest growth during the forecast period. China contributes the bulk of the revenue share. The region’s market growth will be boosted by the growing electricity demand-supply gap and expansion of commercial office spaces.
Significant investments in China’s solar industry have resulted in lower costs of solar PV production and increased R&D to advance the solar charge controller tech. China and India are attempting to reduce the amount of fossil fuel-based electricity they generate and increase their renewable energy share. The forecast period will see a rise in solar energy power generation adoption.
North America is forecast to grow at a 15.9% CAGR over the forecast period. Due to its growing solar industry, significant growth is expected in this region. Growing adoption of clean energy target policies to lower greenhouse gas emissions is expected to increase demand for solar energy and boost regional market growth during the forecast period.
Key Regions and Countries covered іn thе rероrt:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
Market Share Analysis
Competitiveness in the solar charger industry is influenced by strong R&D, skilled people, technology sourcing, and a high level of forwarding Integration. A number of industry players are now focusing their attention on MPPT technology because of its many benefits, while also expanding their product line.
Manufacturers are creating MPPT controllers for mobile device charging, rural electricity, low-power industrial, and other high-power uses. In order to increase the company’s sales and revenue, distribution channels like different online portals and third-party supply agreements, as well as direct supply to end-users, have been strengthened.
Key Market Players
The market leader in the global solar charger market are:
- Sungrow
- Schneider Electric
- Morningstar Corp.
- Beijing Epsolar Technology Co. Ltd
- Sunforge LLC
- Wenzhou Xihe Electric Co.
- KATEK Memmingen GmbH
- Luminous India
- Other Key Players
For the Solar Charge Controllers Market research study, the following years have been considered to estimate the market size:
Attribute Report Details Historical Years
2016-2020
Base Year
2021
Estimated Year
2022
Short Term Projection Year
2028
Projected Year
2023
Long Term Projection Year
2032
Report Coverage
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
Regional Scope
North America, Europe, Asia-Pacific, South America, Middle East & Africa
Country Scope
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)
Q: What is the solar charge controller size in 2021?A: The solar charge controller size is $ 1,450 million for 2021.
Q: What is the CAGR for the solar charge controller?A: The solar charge controller is expected to grow at a CAGR of 15.3% during 2023-2032.
Q: What are the segments covered in the solar charge controller report?A: Market.US has segmented the Global solar charge controller Value (US$ Mn) Analysis by Region, 2022 market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By type, market has been segmented into pulse width modulation, maximum power point tracking (mppt), and others. By application, market has been further divided into industrial, commercial, residential.
Q: Who are the key players in the solar charge controller?A: Sungrow, Morningstar Corp., Schneider Electric, Beijing Epsolar Technology Co. Ltd, Wenzhou Xihe Electric Co., Sunforge LLC, Luminous India, KATEK Memmingen GmbH, and Other Key Players are the key vendors in the Solar charge controller.
Q: Which region is more attractive for vendors in the solar charge controller?A: Asia Pacific accounted for the highest market share of 35.8% among the other regions. Therefore, the solar charge controller in Asia Pacific is expected to garner significant business opportunities for the vendors during the forecast period.
Q: What are the key markets for solar charge controller?A: U.S., Canada, Mexico, U.K., and Germany are key areas of operation for solar charge controller market.
Q: Which segment has the largest share in the solar charge controller?A: In the solar charge controller, vendors should focus on grabbing business opportunities from the Pulse Width Modulation segment as it accounted for the largest market share in the base year.
Solar Charge Controller MarketPublished date: Aug 2022add_shopping_cartBuy Now get_appDownload Sample - Sungrow
- Schneider Electric SE. Company Profile
- Morningstar Corp.
- Beijing Epsolar Technology Co. Ltd
- Sunforge LLC
- Wenzhou Xihe Electric Co.
- KATEK Memmingen GmbH
- Luminous India
- Other Key Players
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