Global Solar Charge Controllers Market – Overview
Solar charge controllers also called as solar regulators. It is applied on 12V batteries, because this voltage is most commonly used in isolated solar systems. Over the past few years, usage of solar power utilization is increased significantly and is expected to grow rapidly in the coming years. As cleanest and more sustainable energy, solar energy system is familiar with a wide variety of applications like domestic, commercial and industrial applications.
The solar charge controller is the most important component of a solar energy system. It makes it possible for all the other parts to work together and help to reduce the voltage of solar panel. Basic charge controller simply monitors the battery voltage and opens the circuit, stopping the charging, when the battery voltage rises to a certain level. Whereas, modern charge controller lowers the amount of power applied to the batteries, when it is close to get overcharged. The latest trend gaining momentum in the solar charge controllers market is increasing demand for MPPT charge controllers. The most recent and best type of solar charge controller is called Maximum Power Point Tracking (MPPT). MPPT controllers are basically able to convert excess voltage into amperage.
MRFR analyst predict that the Global Solar Charge Controllers Market will grow steadily during the forecast period and post a CAGR of around 15.02% by 2023.
Genasun (Italy), Luminous India (India), Microtek (China), Schneider Electric (France), Su-Kam Power Systems (India), Arise India (India), Delta Electronics (India), Sungrow Power Supply Co., Ltd (China), Victron Energy (Netherlands) and Beijing Epsolar Technology Co., Ltd (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Solar Charge Controllers market.
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Solar Charge Controllers Market – Competitive Analysis
Solar Charge Controllers market appears to be competitive with the presence of several large and small players operating in the Solar Charge Controllers market. These Key players compete based upon pricing, quality, Technology and reputation. Solar Charge Controllers market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Manufacturers operating in the Solar Charge Controllers market strive to respond to the growing demand for Solar Charge Controllers. Moreover, manufacturers mainly ensure to deliver the best quality products based on innovative technologies, and best practices.
During the forecast period, growth witnessed in the solar home systems and industrial building segment is likely to rise. Regionally, Asia Pacific held the dominant share in the market in 2016. Rising industrialization, increasing demand for energy, and favourable initiatives by government will support growth of the solar charge controller market. Increasing use of solar energy/ dependence on non-renewable energy sources acting as major driving factor. Also favourable climate change policies and clean fuel agenda will give a positive growth in the global solar controller market.
Solar Charge Controllers Market – Regional Analysis
Geographically, there are four key regions in which the global Solar Charge Controllers market is spanned across. It includes Asia Pacific, Europe, North America, and Middle East & Africa. Asia-Pacific is one of the largest markets for Solar Charge Controller in the world. There is an increasing demand for energy because of the growing population and rising disposable income in the region. Solar energy is identified as the best replacement to other conventional fossil fuel energy sources and is used to reduce carbon emission by effectively meeting the electricity needs. There is an increasing demand for energy because of the growing industrialization, increasing concern of reducing carbon footprint and rising installations of renewable energy generating plants.
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