Global Solar Charge Controllers Market 2017-2021

Overview of the global solar charge controllers market

Market research analysts at Technavio predict that the global solar charge controllers market will grow steadily during the forecast period and post a CAGR of around 16% by 2021. This market research analysis identifies the rise in solar energy installations as one of the major factors that will have a positive impact on the growth of this market. Governments across the world are taking initiatives to encourage the use of renewable resources such as solar power. Developed and developing nations are increasingly making use of the solar power for increasing the solar energy concentration in the energy mix and reduce their dependence on fossil fuel based-power generation. The growing awareness about the benefits of solar energy is leading to the rise in the number of solar projects around the globe. This rise in solar energy consumption will consequently propel the demand for solar charge controller systems.

This market research report identifies the rise in deployment of microgrids as one of the key trends behind the growth of the solar charge controllers market. The growing population and rapid urbanization have driven the increase in power consumption and this has resulted in power outages and heavy loads during peak hours in many countries. The demand for off-grid energy storage systems is increasing due to inconsistent supply of power in rural areas in addition to the demand for charge controllers that provide various benefits during peak load sharing and power outages. The need to overcome challenges faced by traditional grids and to introduce a new level of sophistication in functioning have driven the need for microgrids that have proven to be more resilient to natural calamities than traditional grids and provide power to a limited geographic region when the main grid fails.

Competitive landscape and key vendors

The solar charge controllers market is fragmented with the presence of numerous international and regional vendors and is intensely competitive. The vendor performance is impacted by the intense competition, rapid advances in technology, and the frequent changes in government policies and environmental regulations. The vendors have the need to manage their operations such that they gain the competitive advantage and acquire improved market shares.

The leading vendors in the market are –

• Genasun
• Luminous India
• MICROTEK
• Schneider Electric
• Su-Kam Power Systems

The other prominent vendors in the market are Arise India, BEIJING EPSOLAR TECHNOLOGY, Delta Electronics, Morningstar, Phocos, Samlex America, Shuori New Energy, Steca Elektronik, Studer Innotec, SUNGROW, and Victron Energy.

Segmentation by end user and analysis of the solar charge controllers market

• Residential
• Non-residential

During 2016, the non-residential segment accounted for the major shares and dominated the solar charge controllers market. The increasing government initiatives in setting up hospitals, government, small and medium-sized businesses (SMBs), and IT and telecom, that require several battery units demand the need for solar energy power sources. With numerous government initiatives, building developers are implementing energy management systems (EMS) and inverters with solar PV panels on non-residential buildings, thereby promoting sustainability and improving the overall building efficiency.

Geographical segmentation and analysis of the solar charge controllers market

• APAC
• America
• EMEA

This market study estimates that in terms of geographic regions, APAC dominated the market by accounting for the major revenue shares during 2016. This was mainly due to factors such as the growing environmental awareness, the rising demand for energy, growing population, and the improving standards of living. Additionally, the initiatives taken by the countries towards solar energy generation to replace the dependence on fossil fuel will also drive the growth prospects of the solar charge controllers market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global solar charge controllers market?
• What are the key market trends impacting the growth of the global solar charge controllers market?
• What are the challenges to market growth?
• Who are the key vendors in the global solar charge controllers market?
• What are the market opportunities and threats faced by the vendors in the global solar charge controllers market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global solar charge controllers market? 

Technavio also offers customization on reports based on specific client requirement.

Technavio’s reports for the industry overlay a wide range of product markets including energy storage, smart grid, and power sector. In addition to providing information on a varied range of parameters including the shift in customer behavior and key factors driving the market growth, Technavio’s reports also include a detailed insight of the prominent vendors, their latest products and services, market size, and the competitive scenario.

By considering a detailed research approach of quantitative and qualitative research methods and by covering multiple factors including the rising demand for an array of products across geographical regions, research analysts at Technavio predict the energy industry’s growth prospects which will support clients devise effective business strategies. This upcoming market research report on global solar charge controllers market for the assessment period of 2017 to 2021 projects insights derived from data collected from several reliable sources of information such as channel partners, key stakeholders, manufacturers, and various regulatory bodies.

This upcoming industry report on the global solar charge controllers market also considers the growth of resembling markets such as solar battery charger market and  global low voltage capacitor market, which are expected to project a CAGR of more than 13% and close to 4%, respectively,  until 2020. According to our industry experts, the initiatives undertaken by governments worldwide that encourage the use of renewable resources will substantially contribute to the growth of the solar charge controllers market. Also, the hike in the cost of fossil fuels is making solar power a more economical source of renewable energy. To help organization secure higher market share, Technavio also presents customized market research reports based on the specific requirements of clients.

The upcoming industry research report for global solar charge controllers market also identifies the major market drivers, trends, and the major challenges currently experienced by the prominent vendors in the energy industry.