Global Solar Charge Controller Market Report Examines Latest Trends and Key Drivers Supporting Growth

A new research report titled, “Solar Charge Controller Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). The report presents an overall growth trajectory of the global solar charge controller market. The uniqueness of this report lies in the market share investigation and keeping in mind that working widely on this report, our master group of investigators have secured master approval, item mapping, segmental income, and vendor financials.

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As governments around the world focus their efforts on curbing pollution, the demand for alternative means of deriving power will surge. Against this backdrop various markets recorded tremendous growth in the recent past, the global solar charge controller market being one among them. Market Research Reports Search Engine (MRRSE) has opined that the market is currently in a transitional phase, chiefly driven by various government initiatives and the shifting preference toward renewable sources to derive energy. Coupled with this, technological innovations and commercialization of solar charge controllers will ensue robust growth in the market.

Contrary to aforementioned growth drivers, the market players often incur huge expenses on installation. Furthermore, the maintenance cost of solar charge controllers is really high, thus hindering the smooth sail of the market. Nonetheless, the rising investment in infrastructural development and continued advancements in technology will offer immense opportunities for the growth to the global solar charge controller market in the coming years.

Global Solar Charge Controller Market – Key Segments

Solar home systems and industrial buildings segment is expected to witness significant growth rate during the forecast period due to the increasing awareness, cost efficiency and preferences towards the use of solar energy. Solar charge controller market is expected to witness robust growth on account of growing demand in residential and utility application sector. Government initiatives and funding has provided strong boost to solar charge controller market. Stringent environmental regulation and technological advancement are key factors expected to drive the number of installations over the forecast period.

The global solar charge controller market can be classified according to the type such as simple 1 or 2 stage controllers, Pulse Width Modulated (PWM) charge controller, and Maximum Power Point Tracking (MPPT) charge controllers. The simple 1 or 2 stage charge controllers cut power when the battery reaches a set voltage, and turn it on when a low voltage set point is reached. During charging, the PWM charge controller allows as much current as the solar panel/array can generate in order to reach the target voltage for the charge stage the controller is in. MPPT charge controllers optimize the voltage of the solar array to maximize total power output and convert that to the correct voltage to charge the battery. Owing to its efficient properties and functions, MPPT accounts for largest market in 2016 and is also projected to grow at a highest rate during the forecast period.

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Global Solar Charge Controller Market – Regional Analysis

Asia Pacific held the largest share of the global Solar Charge Controller market in 2016 in terms of consumption. Growth of the region is primarily ascribed to the increase in the demand from industrial and residential segments in the region. North America and Europe also contributed to the growth of the global Solar Charge Controller market in terms of production of Solar Charge Controller in 2016 and is expected to further grow during the forecast period. Asia Pacific is expected to be the fastest growing due increasing population, positive economic outlook, expanding middle class population, government initiatives supporting investment in solar energy projects. The global market share of North America, Europe and Asia Pacific is expected to increase at a high CAGR during the forecast period, while the global market share of Latin America and Middle East and Africa is expected to increase at a slow pace during the forecast period.

Global Solar Charge Controller Market – Research Methodology

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, CSA Global, FAO, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, one SOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.

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We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

Global Solar Charge Controller Market – Competitive Analysis

The report comprises profiles of major companies operating in the global solar charge controller market. Key players operating in the global solar charge controller market include, OutBack Power Inc, Xantrex Technologies, Genasun LLC, Luminous Power Technologies Pvt. Ltd, Wenzhou Xihe Electric Co., Ltd, Phocos, Beijing Epsolar Technology Co., Ltd, Steca Elektronik GmbH, and Sollatek. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

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