Solar Charge Controller Market Size, Business Scenario, Share, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2025

TMR pegged the global solar charge controller market at US$22,653.4 mn in 2016. Rising at a promising CAGR of 16.2% between 2017 and 2025, the market is likely to reach US$86,087.5 mn by the end of 2025. While the demand for solar charge controllers is rising across diverse end-use sectors, it is the utility scale segment that accounted for the leading market share in 2016. During the forecast period, growth witnessed in the solar home systems and industrial building segment is also likely to rise. Regionally, Asia Pacific held the dominant share in the market in 2016. Rising industrialization, increasing demand for energy, and favorable initiatives by government will support growth of the solar charge controller market in Asia Pacific. In addition, Latin America and the Middle East and Africa are likely to report impressive growth in the coming years.

The global solar charge controller market is poised to exhibit impressive growth in the coming years. This is also indicative of the high competition the market is likely to witness in the near future. As per a new study by Transparency Market Research (TMR), the most prominent market players are likely to shift focus from developed markets to emerging nations. Through this strategy the market players will expand their regional footprint, thus strengthening their position in the global sphere. As per TMR, OutBack Power Inc, Xantrex Technologies, Genasun LLC, Luminous Power Technologies Pvt. Ltd, Wenzhou Xihe Electric Co., Ltd, Phocos, Beijing Epsolar Technology Co., Ltd, and Sollatek are some of the leading players in the global solar charge controllers market.

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Favorable Climate Change Policies to Create Lucrative Prospects for Growth

The coming years hold impressive growth prospects for the global solar charge controller market, as per TMR. The market will considerably benefit from the increasing use of solar energy and steps taken to curb the dependence on non-renewable energy sources. Also favorable climate change policies and clean fuel agenda will chalk a positive growth trajectory for the global solar controller market. Besides these, rising investment in renewable storage solutions and implementation of stringent policies to curb pollution will create lucrative prospects for the market's growth. In the coming years, market players will also benefit from the rising awareness among consumers.

High Cost of Solar Charge Controllers than Traditional Counterparts to Act as a Key Hindrance

On the downside, the cost of deriving energy from solar power is more than that of conventional sources. This could act as a major restraint to the market's growth. Furthermore, the maintenance cost incurred on solar charge controllers is comparatively higher than their traditional counterparts, which could hinder the market's trajectory to an extent. Nonetheless, growth trajectory will remain positive on account of the rising investment in renewable storage solutions. Also active participation from different quarters of the society will create an environment conducive to the growth of the global solar charge controller market in the coming years. Additionally, the market will benefit from increase in the development of off-grid electrical systems and accelerating solar energy installations.

In the coming years, an increasing number of developing nations are likely to maximize their use of solar energy to curb the dependency on fuel-based power generation. This will be achieved by the implementation of stringent regulatory frameworks. Also steps taken by governments and international bodies to spread awareness regarding renewable energy sources will have a positive impact on the global solar charge controller market.

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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 report segments the global solar charge controller market as:

Solar Charge Controller Market: Type Analysis

Simple 1 or 2 stage controls

MPPT - (Maximum Power Point Tracking )

PWM -( Pulse-Width Modulation )

Solar Charge Controller Market: End use Analysis

solar home systems

Industrial/commercial buildings

Utility scale

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Global Solar Charge Controller Market - Scope of the Study

This report analyzes and forecasts the market for Solar Charge Controller at the global and regional level. The market has been forecast based revenue (US$ Mn) from 2017 to 2025, considering 2016 as the base year. The study includes drivers and restraints of the global solar charge controller market. It also covers impact of these drivers and restraints on demand for solar charge controller market during the forecast period. The report also highlights opportunities in the solar charge controller market at the global and regional level.

The report includes detailed value chain analysis, which provides a comprehensive view of the global solar charge controller market. Porter's Five Forces model for the Solar Charge Controller market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.

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