Global Charge Controllers with MPPT Market Size, Share, Growth Analysis, By Application(Industrial, Commercial), By End Use(Solar Home Systems, Solar Street Lighting)

Description

Global Charge Controllers with MPPT Market size was valued at USD 1.55 billion in 2021 and is poised to grow from USD 1.70 billion in 2022 to USD 3.27 billion by 2030, at a CAGR of 9.8% during the forecast period (2023-2030).

The Global Charge Controllers with MPPT Market refers to the industry dealing with devices that regulate and optimize the charging of batteries in solar power systems. These controllers utilize Maximum Power Point Tracking (MPPT) technology to extract maximum energy from solar panels. The market has experienced steady growth due to rising renewable energy adoption. It encompasses various manufacturers and technologies aimed at enhancing solar energy efficiency. Factors such as increased awareness of clean energy and advancements in solar technology contribute to the market's expansion.

Top-down and bottom-up approaches were used to estimate and validate the size of charge controllers with MPPT and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data

Segmental Analysis

Global Charge Controllers with MPPT Market is segmented on the basis of application, end use and region. By application, the market is segmented into industrial, commercial, residential. By end use, the market is segmented into solar home systems, solar street lighting, solar water pumping systems, telecom towers, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers

Rising global interest in off-grid and hybrid solar solutions is poised to yield promising avenues for expansion. Worldwide, governmental initiatives endorsing the adoption of renewable energy, particularly solar power, have fostered a conducive milieu for the growth of the charge controller with MPPT market. One noteworthy example is the United States' solar investment tax credit (ITC), a governmental incentive that provides tax credits to both residential and commercial entities upon the installation of solar energy setups, encompassing those utilizing MPPT-equipped charge controllers. This impetus has effectively stimulated the uptake of solar power systems, consequently fueling the demand for MPPT-enabled charge controllers.

Restraints

Challenges arise from the elevated pricing of MPPT controllers in the market. In comparison to conventional charge controllers, those integrated with MPPT technology incur higher costs due to their advanced features and enhanced efficiency. As a result, these controllers might be less attainable for budget-conscious customers seeking economical alternatives.

Market Trends

The demand for charge controllers featuring MPPT technology is on the rise in the market. This is attributed to the technology's capacity to continuously track the maximum power point of solar panels, thus enhancing their performance. Consequently, solar power systems are experiencing notable efficiency improvements, fueling the growing popularity of MPPT technology.

Product Code: SQMIG55F2009

Executive Summary

Market Overview
Wheel of Fortune
Research Methodology
Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
Drivers
Opportunities
Restraints
Challenges
Key Market Insights
Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition
Market Dynamics & Outlook
Market Dynamics
Drivers
Opportunities
Restraints
Challenges
Regulatory Landscape
Porters Analysis
Competitive rivalry
Threat of Substitute Products
Bargaining Power of Buyers
Threat of New Entrants
Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
Political Impact
Economic Impact
Social Impact
Technical Impact
Environmental Impact
Legal Impact

Global Charge Controllers with MPPT Market by Application

Market Overview
Industrial
Commercial
Residential
Global Charge Controllers with MPPT Market by End Use
Market Overview
Solar Home Systems
Solar Street Lighting
Solar Water Pumping Systems
Telecom Towers
Others
Global Charge Controllers with MPPT Market Size by Region
Market Overview
North America
USA
Canada
Europe
Germany
Spain
France
UK
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of MEA
Competitive Landscape
Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
By Development
By Company
By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021
Key Company Profiles
Morningstar Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Victron Energy B.V. (Netherlands)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Phocos AG (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Beijing Epsolar Technology Co. Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Renogy (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Luminous Power Technologies Pvt. Ltd. (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Genasun LLC (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Midnite Solar Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Shuori New Energy Technology (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Steca Elektronik GmbH (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Su-Kam Power Systems Ltd. (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Blue Sky Energy Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Xantrex Technology Inc. (Canada)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Samlex America Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Schneider Electric (France)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
OutBack Power Technologies (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
EPEVER Solar Technology (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Magnum Energy Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Powertech Systems (France)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Studer Innotec (Switzerland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
TriStar Power Systems (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
SolarEdge Technologies Inc. (Israel)
Company Overview
Business Segment Overview
Financial Updates
Key Developments

Global Charge Controllers with MPPT Market Size, Share, Growth Analysis, By Application(Industrial, Commercial), By End Use(Solar Home Systems, Solar Street Lighting) - Industry Forecast 2023-2030