The global PV combiner box market is poised to register a 5.1% CAGR, capturing a revenue share of USD 120 million in 2022, to reach USD 205 million by 2032.
The currently active market players heavily invest in Research and Development activities to diversify and differentiate their offerings and also to gain a competitive edge in the market. Multiple participants in the PV combiner box market ecosystem are responsible for global growth and market security.
| Report Attribute | Details |
|---|---|
| PV Combiner Box Market Value (2022) | USD 120 Million |
| PV Combiner Box Market Anticipated Forecast Value (2032) | USD 205 Million |
| PV Combiner Box Market Projected Growth Rate (2022 to 2032) | 5.1% |
Most organizations use PV combiner boxes to protect and boost the performance of their photovoltaic systems. Moreover, PV combiner boxes are widely used in photovoltaic power generation systems. This is because they reduce the number of cables that are required to connect the inverter with an array of solar modules.
For large photovoltaic arrays, a series of solar modules are connected in a string to build up the voltage to the inverter's specifications. By combining multiple solar modules in parallel, the output currents of the strings can be boosted to higher levels for input into the inverter.
Smart PV combiner boxes combine the output of multiple PV modules for connection to an inverter, provide surge and overcurrent protection, and monitor the single-string current and voltage, surge protective device, and breaker condition of a PV array. Commercial and utility-scale PV power plants (greater than 500kW) typically use this technology.
There are several reasons PV combiner boxes are widely used, including their flexibility, maintenance, anti-corrosion, and safety. Recognizing the PV combiner boxes' demand across different buyer segments has provided an impetus for growth in the market globally.
The rising adoption of PV combiner boxes in large-scale grid-connected PV systems is one of the major factors driving the growth of the market owing to its flexible, efficient, and safety features. Moreover, the rising demand for ground mount and commercial rooftop-based PV combiner boxes is also turning out to be another major factor driving the growth of the PV combiner box market positively. Mechanical and electrical failure at the time of installation is the major challenge faced by most PV combiner box vendors.
Regionally, the global PV combiner box market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ), and Japan. Among these regions, North America is expected to hold the largest share of the PV combiner box market and is likely to continue to flourish in its trend, owing to significant growth in technological innovations of PV combiner boxes in this region.
North America is anticipated to control a maximum market share of the global PV combiner box in 2022. Among the total market share of the global PV combiner box market, it is also predicted to maintain steady growth throughout the forecasted period.
The European countries, including the UK, Italy, and Germany, have combined to attain a global PV combiner box market share in the forecast period. Increasing demand for renewable energy sources and increasing awareness of the benefits of PV combiner boxes may be responsible for this trend.
There are several factors contributing to this growth, including increased electricity consumption, increased investment in solar power infrastructure, and supportive government policies. Huge investments and business development opportunities have been attracted to this region.
PV combiner boxes have a multifaceted ecosystem that has multiple participants responsible for the market's growth and sustainability. Emerging trends in the PV combiner box market are brought about as a result of the major players' adoption of several growth strategies, including product launches, acquisitions, and collaborations.
In July 2016, Eaton Corporation launched new Crouse-Hinds series 1500V DC combiner box for large-scale solar photovoltaic applications. This combiner box is specifically designed to help customers by minimizing system costs by reducing wiring requirements and installation time.
The prominent player operating in the PV combiner box market includes Schneider Electric, XJ Group, Eaton Corporation, Renovagyand Surpass Sun Electric, CFAT, Wuxi Longmax, Noark, Kingshore, Weidmuller, TOPBAND, Eaton, Jinting Solar, Kebite, TBEA, Huasheng Electric, EAST, Sungrow, FIBOX, Golden Highway, Guanya Power, Temaheng Energy, Tongqu Electric, and others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.1% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; The Asia Pacific excluding Japan; Japan; The Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC Countries, South Africa |
| Key Companies Profiled | Schneider Electric; XJ Group; Eaton Corporation; Renovagyand Surpass Sun Electric; CFAT; Wuxi Longmax; Noark; Kingshore; Weidmuller; TOPBAND; Eaton; Jinting Solar; Kebite; TBEA; Huasheng Electric; EAST; Sungrow; FIBOX; Golden Highway; Guanya Power; Temaheng Energy; Tongqu Electric |
| Customization | Available Upon Request |
DC Smart PV Combiner Box
Commercial
Table 1: Global Market Value (US$ Million) Forecast by Region, 2017 to 2032
Table 2: Global Market Volume (Units) Forecast by Region, 2017 to 2032
Table 3: Global Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 4: Global Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 5: Global Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 6: Global Market Volume (Units) Forecast by Application, 2017 to 2032
Table 7: North America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 8: North America Market Volume (Units) Forecast by Country, 2017 to 2032
Table 9: North America Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 10: North America Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 11: North America Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 12: North America Market Volume (Units) Forecast by Application, 2017 to 2032
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 14: Latin America Market Volume (Units) Forecast by Country, 2017 to 2032
Table 15: Latin America Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 16: Latin America Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 17: Latin America Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 18: Latin America Market Volume (Units) Forecast by Application, 2017 to 2032
Table 19: Europe Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 20: Europe Market Volume (Units) Forecast by Country, 2017 to 2032
Table 21: Europe Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 22: Europe Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 23: Europe Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 24: Europe Market Volume (Units) Forecast by Application, 2017 to 2032
Table 25: Asia Pacific Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 26: Asia Pacific Market Volume (Units) Forecast by Country, 2017 to 2032
Table 27: Asia Pacific Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 28: Asia Pacific Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 29: Asia Pacific Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 30: Asia Pacific Market Volume (Units) Forecast by Application, 2017 to 2032
Table 31: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 32: Middle East and Africa Market Volume (Units) Forecast by Country, 2017 to 2032
Table 33: Middle East and Africa Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 34: Middle East and Africa Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 35: Middle East and Africa Market Value (US$ Million) Forecast by Application, 2017 to 2032
Table 36: Middle East and Africa Market Volume (Units) Forecast by Application, 2017 to 2032
Figure 1: Global Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 2: Global Market Value (US$ Million) by Application, 2022 to 2032
Figure 3: Global Market Value (US$ Million) by Region, 2022 to 2032
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032
Figure 5: Global Market Volume (Units) Analysis by Region, 2017 to 2032
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 8: Global Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 9: Global Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 10: Global Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 11: Global Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 12: Global Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 13: Global Market Volume (Units) Analysis by Application, 2017 to 2032
Figure 14: Global Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 15: Global Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 16: Global Market Attractiveness by Product Type, 2022 to 2032
Figure 17: Global Market Attractiveness by Application, 2022 to 2032
Figure 18: Global Market Attractiveness by Region, 2022 to 2032
Figure 19: North America Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 20: North America Market Value (US$ Million) by Application, 2022 to 2032
Figure 21: North America Market Value (US$ Million) by Country, 2022 to 2032
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 23: North America Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 26: North America Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 27: North America Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 28: North America Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 29: North America Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 30: North America Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 31: North America Market Volume (Units) Analysis by Application, 2017 to 2032
Figure 32: North America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 34: North America Market Attractiveness by Product Type, 2022 to 2032
Figure 35: North America Market Attractiveness by Application, 2022 to 2032
Figure 36: North America Market Attractiveness by Country, 2022 to 2032
Figure 37: Latin America Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 38: Latin America Market Value (US$ Million) by Application, 2022 to 2032
Figure 39: Latin America Market Value (US$ Million) by Country, 2022 to 2032
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 41: Latin America Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 44: Latin America Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 45: Latin America Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 48: Latin America Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 49: Latin America Market Volume (Units) Analysis by Application, 2017 to 2032
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 52: Latin America Market Attractiveness by Product Type, 2022 to 2032
Figure 53: Latin America Market Attractiveness by Application, 2022 to 2032
Figure 54: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 55: Europe Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 56: Europe Market Value (US$ Million) by Application, 2022 to 2032
Figure 57: Europe Market Value (US$ Million) by Country, 2022 to 2032
Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 59: Europe Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 62: Europe Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 63: Europe Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 64: Europe Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 65: Europe Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 66: Europe Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 67: Europe Market Volume (Units) Analysis by Application, 2017 to 2032
Figure 68: Europe Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 69: Europe Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 70: Europe Market Attractiveness by Product Type, 2022 to 2032
Figure 71: Europe Market Attractiveness by Application, 2022 to 2032
Figure 72: Europe Market Attractiveness by Country, 2022 to 2032
Figure 73: Asia Pacific Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 74: Asia Pacific Market Value (US$ Million) by Application, 2022 to 2032
Figure 75: Asia Pacific Market Value (US$ Million) by Country, 2022 to 2032
Figure 76: Asia Pacific Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 77: Asia Pacific Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 78: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 79: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 80: Asia Pacific Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 81: Asia Pacific Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 82: Asia Pacific Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 83: Asia Pacific Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 84: Asia Pacific Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 85: Asia Pacific Market Volume (Units) Analysis by Application, 2017 to 2032
Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 88: Asia Pacific Market Attractiveness by Product Type, 2022 to 2032
Figure 89: Asia Pacific Market Attractiveness by Application, 2022 to 2032
Figure 90: Asia Pacific Market Attractiveness by Country, 2022 to 2032
Figure 91: Middle East and Africa Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 92: Middle East and Africa Market Value (US$ Million) by Application, 2022 to 2032
Figure 93: Middle East and Africa Market Value (US$ Million) by Country, 2022 to 2032
Figure 94: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 95: Middle East and Africa Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 96: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 97: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 98: Middle East and Africa Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 99: Middle East and Africa Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 100: Middle East and Africa Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 101: Middle East and Africa Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 102: Middle East and Africa Market Value (US$ Million) Analysis by Application, 2017 to 2032
Figure 103: Middle East and Africa Market Volume (Units) Analysis by Application, 2017 to 2032
Figure 104: Middle East and Africa Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 105: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 106: Middle East and Africa Market Attractiveness by Product Type, 2022 to 2032
Figure 107: Middle East and Africa Market Attractiveness by Application, 2022 to 2032
Figure 108: Middle East and Africa Market Attractiveness by Country, 2022 to 2032
The global PV combiner box market is set to advance at a CAGR of 5.1% from 2022 to 2032.
North America dominates the global PV combiner box market.
The future of the PV combiner box market is likely to account for USD 205 million by 2032.
The adoption of PV combiner box is likely to reach a valuation of USD 120 million in 2022.
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PV Combiner Box Market
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