Solar Charge Controller Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of the Solar Charge Controller Market

The Solar Charge Controller market size was valued at USD 1.12 billion in 2018, and the market is now projected tgrow from USD 1.12 billion in 2018 tUSD 8.18 billion by 2032, exhibiting a CAGR of 15.30% during the forecast period of 2019-2032.

The COVID-19 pandemic tbegin with disrupted the Solar Charge Controller market growth because of supply chain interruptions, manufacturing slowdowns, and not on-time solar electricity projects as a result of lockdowns and restrictions. However, the market quickly regained momentum as governments and groups prioritised renewable power investments tpressure economic restoration and meet sustainability dreams. The growing demand for off-grid solar systems in residential and far-off applications at some stage in the pandemic, in addition, boosted the adoption of solar rate controllers. Additionally, developing cognisance of power independence and the increasing want for dependable energy sources for the duration of crises contributed tthe marketplace's resilience and recovery.

The call for batteries has elevated robustly during the last decade. This is particularly taking place tmaintain power delivery in case of disasters. Following this, as rate controllers make certain operational protection with the aid of preventing the battery from being overcharged and discharged, their installations have grown parallelly with batteries. Charge controllers additionally preserve a particular stage of voltage and, therefore, help in preventing system screw-ups and decrease undesirable expenses on preservation. This led tan increasing Solar Charge Controller market share.

Additionally, Solar power has observed a giant preference in the residential region in recent years. The predominant packages in this quarter include solar water heaters, power, district heating, and others. This has brought about the deployment of price controllers on the same price tensure the safety of batteries and tmaintain preferred voltage ranges.

Comprehensive Analysis of the Solar Charge Controller Market

The solar charge controller market is segmented by type and application. By type, it consists of pulse-width modulation (PWM) and most electricity factor monitoring (MPPT) price controllers. While PWM price controllers presently dominate the market due ttheir lower fees, the advanced performance of MPPT controllers in low daylight, long wire runs, and occasional battery price is predicted tforce their adoption throughout the forecast length. By utility, the market is divided intresidential, industrial, industrial, and utility sectors. Increasing urbanisation, electricity calls for, and rural electrification tasks are riding solar installations at each character and huge-scale levels. Batteries play a vital position in solar electricity structures throughout all sectors, ensuring power garages for non-stop strength delivery, in addition tboosting the adoption of solar fee controllers.

Asia Pacific is, in all likelihood, tpreserve the biggest sun charge controller marketplace proportion during the forecast length. The region has the most solar installations and is alslooking forward ta massive quantity of planned installations within the coming years.

Key gamers inside the solar rate controller market consist of Morningstar Corporation (USA), Easy Photovoltech Private Limited (India), Vispra Solar (India), Luminous Power Technologies (P) Ltd (India), Beijing Epsolar Technology Co., Ltd. (China), Victron Energy (Netherlands), Sollatek UK Limited (Slough, United Kingdom), OutBack Power Technologies (USA), Xantrex Technologies (Canada), and Genasun (Netherlands). These agencies play a considerable function in advancing solar charge controller generation thelp the growing adoption of sun electricity structures globally.

In June 2021, Growatt, a China-based total inverter corporation, released a hundred V string inverter answer that includes about 10 unbiased maximum energy factor tracking (MPPT) inputs, with MPPT voltage varying from one hundred eighty-1,000 V. The product is fabricated with energy ratings between 100 thundred twenty-five kW with an efficiency of around 98.8% and is designed for installation throughout utility-scale and industrial solar strength flora.

Segmentation Table

Global Solar Charge Controller Market Scope

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Growth Rate CAGR of 15.30% from 2024-2032

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By Type, application, and Region

By Type

Pulse-Width Modulation (PWM) Charge Controller

Maximum PowerPoint Tracking (MPPT) Charge Controller

By application

Residential

Commercial

Industrial

Utility

By Region

North America (U.S. and Canada)

Europe (UK, Germany, France, Italy, Spain, Belgium and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, South Korea, Southeast Asia and Rest of Asia Pacific)

Middle East & Africa (South Africa, GCC, Israel and Rest of the Middle East & Africa)

Latin America (Brazil, Mexico, Chile and Rest of Latin America)