Solar Charge Controller Market: Increasing Installations of Rooftop Solar Panel in Developing Economies to Improve Scope of Penetration: Global Industry Analysis 2013–2017 and Forecast 2018

An Incisive, In-depth Analysis on the Solar Charge Controller Market

This study offers a comprehensive, 360 degree analysis on the Solar Charge Controller market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Solar Charge Controller market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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Solar Charge Controller Market - Key Research Findings

Global Solar Charge Controller market size in 2017 was nearly US$ 1.4 billion
The Solar Charge Controller market will observe just-above 8% CAGR over 2018-2028
East Asia and Europe will remain the largest regional markets for solar charge controllers
Presence of solar panel and related storage battery manufacturers and suppliers will continue to generate substantial demand for solar charge controllers
East Asia holds high growth potential in solar charge controller market
Rapidly increasing installation rate of solar panels, increasing number of rooftop operations in remote areas, and growing electronic infrastructure for solar power generation will heavily contribute to the growth of solar charge controller market in Asia, particularly in fast-progressing economies, such as China and India
MPPT will witness high growth rate and is the most preferred solar charge controller
High efficiency and reliability will secure dominance of MPPT based solar charge controllers over PWM based solar charge controllers. However, cost factor will benefit the PWM based solar charge controllers over MPPT

Top Factors Shaping Solar Charge Controller Market

Demand for Solar Charge Controllers in Remote Operations

Increasing adoption of solar charge controllers in remote operations is prominently pushing their sales. In line with increasing demand for easy access to devices to gather information, the requirement for electrical storage battery is increasing, which is driving the solar charge controller market. This according to FMI is expected to remain the key factor driving the demand for Solar Charge Controllers at a global level.

Increasing Installation of Off-grid Solar Panel Systems to Boost Market Growth

Low availability of electricity in certain regions and frequent power breakups are driving the adoption of solar charge controllers. This trend has been gaining ground in countries in Africa, Asia and Latin America. Recently, the growth in installation of offgrid solar panel systems marks an important trend in the solar charge controller landscape. Increasing awareness along with subsidiaries for the installation of offgrid based solar panel systems will be a major booster for the global solar charge controller market.

Solar Charge Controller Market Structure Analysis

The global solar charge controller market represents a consolidated competition landscape wherein Tier 1 companies hold more than 34% revenue share
Tier-1 players or key players have strong sales and distributor networks to maintain their revenue growth. These companies are focussing strategically on developing economies, which is favouring their revenue growth. Though, the strategic focus on North American and Western European markets has not reduced, the report underscores that partnerships with technology providers will be an important developmental strategy for companies
Leading players in solar charge controller market are also concentrating on the rising trend of adoption of MPPT based solar charge controllers. However, cost competitiveness will remain a strong differentiation strategy.
Important entrants in the solar charge controller market from developing economies, such as India, Brazil, China and ASEAN countries, will determine the competitive scale in the global solar charge controller market.
American, Chinese and Japanese manufacturers have been substantially contributing towards the revenue growth of the solar charge controller market
The number of dealers and distributors of key solar charge controllers is increasing at a rapid pace, which is likely to have a significant impact on the competitive landscape of solar charge controller market

This research study by FMI (Future Market Insights) on the global Solar charge controller market offers a ten year forecast for the solar charge controller market. To estimate the market value of solar charge controllers, we have considered FY2017 as the base year and market values have been estimated keeping in mind the trends, driving factors, restraints and key developments impacting the market. The Compound Annual Growth Rate for solar charge controllers has been represented from 2018 to 2028.

Solar charge controllers are gaining traction in the global offgrid solar panel systems market. These controllers find a wide range of applications across various applications, such as residential, commercial and industrial. However, the requirement of high capital cost is hindering the adoption rate of solar charge controllers in developing economies.

The global solar charge controller market report consists of 24 sections that primarily elaborate on market values. In the first section of the global solar charge controller market report, we have discussed the key trends, key developments and market values in term of US$ and market volumes in term of Thousand Units (Th Units).

Apart from that, we have also offered market share analysis by segments – current charging capacity, technology, battery type and regions. In the next / second section of the global solar charge controller market report, we have provided the market taxonomy, market definitions and definitions by segments – current charging capacity, technology and battery type of solar charge controller. This section also covers the solar panel systems overview.

In the third section of the global solar charge controller market report, we have included market viewpoints, including macroeconomic factors, porters five force analysis, value chain analysis, list of distributors and manufacturers of solar charge controllers and supply-demand scenario for solar charge controllers.

The fourth section of the global solar charge controller market report includes the global industry analysis by volume and value, along with pricing analysis by regions. Fifth section of the global solar charge controller market report includes qualitative as well as quantitative analysis of the solar charge controller market by current charging capacity segment.

This solar charge controller market report focuses on analysing the market opportunities and providing a detailed understanding of the solar charge controller market. The solar charge controller market report elaborates on the regional analysis, market dynamics and competition landscape of the solar charge controller market for the next ten years.

Each section of the solar charge controller market report includes qualitative and quantitative assessment of the market on the basis of historical data or developments and facts and key opinions collected from various industry participants through primary interviews, annual reports, newsletters, whitepapers, etc.

The report on the global solar charge controller market studies some of the major players in the solar charge controller market, such as Samlex America Inc., Morningstar Corp., Outback Power Inc., Studer Innotec, Victron Energy, Aims Power, Renogy, Sensata Technologies, Inc., Schneider Electric, DENRYO CO., LTD and among others.

Research Methodology

The initial stage of the research study included the formulation of assumptions, which are necessary for primary and secondary research. Further stages of research involved triangulation of data collected from these two approaches. To analyse the market trends and opportunities for solar charge controller manufacturers, the global solar charge controller market has been segmented on the basis of charging capacity, technology, battery type and regions.

For the analysis of solar charge controller consumption, we have considered FY 2017 as the base year. Basic data was collected from manufacturers’ annual reports, newsletters, public reports and solar industry data published by government as well as private agencies, World Bank’s sources, whitepapers, etc. Further, the collected data was validated through primary research techniques that involved manufacturers, distributors, end-user procurement agencies and regional representatives.

For final analysis of market data, we considered demand side as well as supply-side drivers and trends of various regional markets. We have forecasted the market data on the basis of key developments, regional trends and production – consumption scenario of solar charge controllers. For the forecasting of market data, we have considered the historic data for the period 2013-2017.