Global Solar Charge Controller Market by Type (Pulse Width Modulation, Maximum Power Point Tracking) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global solar charge controller market was worth USD 1.35 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 15.1%) between 2020 and 2027. The market will grow due to favorable government policies on clean fuels and the increasing deployment of off-grid solar energy system across many end-use industries.

The solar charge controller controls the current and voltage flow from the solar panels to the battery to prevent overcharging and undercharging. The demand for charge controllers to control power flow in off grid applications will rise due to rising energy demand in urban, mobile and harsh climates.

Due to the growth of solar equipment exports from China to other countries, the market in China will see significant growth over the forecast period. Significant investments have also resulted in the low-cost production of solar-related devices and equipment. The market is expected to see a significant growth over the forecast period.

Technological advances, including controllers with smart communication technology such as Bluetooth and auto night detection capabilities, have positively influenced the functional ability of solar charger controllers. This integration of new technology with existing technology will increase the product's penetration rate across the industry.

The industry's future dynamics will be enhanced by favorable regulatory policies, including net metering and feed-in tariff. Subsidies that encourage solar energy adoption in various end-use industries are also key. The lack of infrastructure for solar-based grid installations in many regions and the high cost of such installation are expected to limit market growth.

Type Insights

With 45.8% of the revenue share, the Pulse Width Modulation segment (PWM), accounted for the largest portion. It offers constant voltage battery charging as well as the ability to recover battery capacity. PWM pulsing adjusts to the battery condition, its charging requirement, temperature effects and voltage drops in solar panels. The key factors that keep the PWM segment competitive include a longer battery life, a higher battery reserve capacity, more efficient use of solar energy and greater user satisfaction.

Maximum Power Point Tracking (MPPT), is expected to see the most growth during the forecast period. The MPPT charge controllers extract maximum power from the photovoltaic modules under certain conditions. They allow users to use solar PVs that produce a higher output voltage than the operational voltage of the battery system. This segment is expected to grow significantly over the forecast period due to its higher efficiency than PWM solar charger controllers.

Market players invest in MMPT technology to increase power outputs via charge controller devices. Xantrex, for example, manufactures advanced MMPT chargers that increase daily energy harvest by 30% compared with PWM technology. Dual battery banks are used to charge house and starter batteries.

Application Insights

In 2019, 54.7% of revenue was attributed to the commercial segment. It is expected that it will experience the fastest growth during the forecast period. The demand for the solar charger controller will rise due to the increasing power demand from data centers, communication base stations, and surging penetration of solar PV module across hospitals, hotels, corporate offices, and other locations. The controller monitors battery health and ensures optimal battery functioning in commercial spaces.

Over the forecast period, the industrial segment will grow at a rapid pace. Large-scale solar projects will require MPPT solar chargers that don't have load output terminals. These controllers can be integrated with large off-grid inverters for utility-scale solar arrays. The segment is expected to grow due to a growing demand for clean energy and an increase in industrial-scale projects over the forecast period.

In 2019, the residential segment held a lower market share than the industrial and commercial segments. The residential segment has solar energy as a reliable source of secondary energy. It provides power for all household appliances. A solar charge controller is installed in residential solar systems. It monitors the current flow of PV panels to the batteries during the day and stops the flow back to the panel at night.

Regional Insights

Asia Pacific held the largest market share at 35.8% in 2019, and will see the most rapid growth. China contributes the majority of the revenue share. The forecast period will see a rise in regional market growth due to the expanding presence of commercial offices and the rising electricity demand-supply gap.

Significant investments made in China's solar industry led to lower production costs for solar PV and more R&D to improve the solar charge controller technology. China and India, emerging economies, are working hard to reduce fossil fuel-based electricity generation. They also want to increase the use of renewable energy in their energy mix. Over the forecast period, the region's market growth will be driven by a higher adoption of solar power generation.

North America is expected to grow at a CAGR 15.9% over the forecast period. The U.S. will see significant growth due to its thriving solar industry. The region's market growth will be boosted by the implementation of clean energy targets policies to reduce GHG emissions.

Market Share Insights & Key Companies

The key factors that determine the industry's competitiveness are strong R&D, skilled workers, technology sourcing and a high level of forward integration. Industry participants are also focusing on MPPT technology due to its many benefits and expanding their product range.

Manufacturers are developing MPPT controllers to support mobile device charging, rural electrification and low-power industrial applications. To increase sales and revenue, distributors such as online portals, third party supply contracts, and direct supply of end-users are strengthened. The following are some of the most prominent players in global solar charger market:

• Sungrow

• Morningstar Corp.

• Schneider Electric

• Beijing Epsolar Technology Co., Ltd

• Wenzhou Xihe Electric Co.

• Sunforge LLC

• Luminous India

• KATEK Memmingen GmbH

• Airkom

• Victron Energy

Up Market Research published a new report titled “Solar Charge Controller Market research report which is segmented by Type (Pulse Width Modulation, Maximum Power Point Tracking), By Players/Companies Luminous India, Beijing Epsolar Technology Co Ltd, Victron Energy, Sunforge LLC, Schneider Electric, Airkom, Wenzhou Xihe Electric Co ltd, Sungrow, Morningstar Corp, KATEK Memmingen GmbH”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Solar Charge Controller Market Report Segments:

The market is segmented by Type (Pulse Width Modulation, Maximum Power Point Tracking).

Solar Charge Controller Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Solar Charge Controller Market

Overview of the regional outlook of the Solar Charge Controller Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Solar Charge Controller Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Solar Charge Controller Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Pulse Width Modulation

                2. Maximum Power Point Tracking

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Solar Charge Controller Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Solar Charge Controller Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.