The Europe Power Optimizer Market would witness market growth of 9.9% CAGR during the forecast period (2022-2028).
The string voltage would also decrease as a result, but the central inverter adjusts all the other optimizers so that their output voltage slightly increases, maintaining the constant string voltage needed at the inverter. It is not possible to progressively retrofit these in a prevailing installation unless the inverter is also updated, and optimizers are installed on all panels at once. This is because this type of optimizer necessitates a central inverter from the same manufacturer as the optimizers.
The need for MPPT systems is rising as renewable energy installations for power generation increase all over the world. The integration of many features into a single device, such as improved monitoring, power line communication, and safety shutdown, is the main focus of the major market players. The expansion of the power optimizer market is also being driven by rising investments in green buildings, which need a solid and reliable electrical infrastructure.
The pharmaceuticals and healthcare sector of the region is expanding at a rapid pace. Over the past 20 years, both R&D spending and the introduction of new medications have surged in the region. The pharmaceutical sector spent $83 billion in R&D activities in 2019. That sum, after accounting for inflation, is roughly ten times what the sector spent annually in the 1980s. With 59 new drugs approved in 2018, the number of novel pharmaceuticals approved for sale increased by 60% between 2010 and 2019 in contrast to the prior decade. The anticipated revenue from a new drug, the anticipated development costs, and laws that affect drug supply and demand all have a role in determining how much money pharmaceutical companies invest in research and development.
The Germany market dominated the Europe Power Optimizer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $312.2 million by 2028. The UK market is anticipated to grow at a CAGR of 9% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 10.7% during (2022 - 2028).
Based on Connectivity, the market is segmented into On-grid and Standalone. Based on Application, the market is segmented into Utility, Commercial and Residential. Based on End Use, the market is segmented into Module Level MPPT, Advanced Power Line Communication, Monitoring Components, Safety Shutdown Components and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Power Optimizer Market will Hit $5.2 Billion by 2028, at a CAGR of 10.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delta Electronics, Inc., SunPower Corporation, KACO new energy GmbH, Alencon Systems, LLC, SolarEdge Technologies, Inc., Enphase Energy, Inc., Tigo Energy, Inc., Altenergy Power System, Inc., Solantro Semiconductor Corp., and Sparq Systems Inc.
By Connectivity
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