The Europe Solar Charge Controller Market would witness market growth of 6.3% CAGR during the forecast period (2022-2028).
Due to the presence of key manufacturers throughout the region and the expanding exports of solar equipment from China to other countries in the world, the market in countries such as China is anticipated to experience considerable expansion during the forecast period. Significant industry expenditures have also led to the production of solar-related products and equipment at a lower cost. Over the course of the projection period, it is projected that this tendency would offer a potential growth environment for the market.
The functional capability of solar charge controllers is being positively impacted by technological improvements, including controllers equipped with smart communication technology, like Bluetooth, auto night detecting capabilities, & smart sensor technologies. The industry-wide penetration rate of the product is anticipated to increase as a result of this blending of innovative methodologies with current technology.
The countries of the European Union (EU) will have installed a large number of new PV plants. The government's Feed-in Tariff project is one of the most persuasive arguments for investing in substantial renewable energy sources such as solar panels. In order to help defray the expense of purchasing the system, this proposal effectively meant that the government would pay for the electricity produced by solar panel systems. Additionally, the European Union has started a "Green Deal" project to reduce carbon emissions and maximize domestic solar energy production.
The Germany market dominated the Europe Solar Charge Controller Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $145.6 million by 2028. The UK market is anticipated a CAGR of 5.3% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 7.1% during (2022 - 2028).
Based on End User, the market is segmented into Commercial, Industrial, Residential, and Utilities. Based on Type, the market is segmented into Maximum Power Point Tracking (MPPT), Pulse Width Modulation (PWM), and Simple 1 or 2 stage Control. Based on Current Capacity, the market is segmented into 20A to 40A, Less than 20A, and More than 40A. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Solar Charge Controller Market will Hit $2.6 Billion by 2028, at a CAGR of 7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, EnerSys, Xantrex Technologies, Inc. (Mission Critical Electronics LLC), Sunforge LLC, Luminous Power Technologies (P) Ltd., Studer Innotec SA, KATEK Memmingen GmbH, Shenzhen Shuori New Energy Technology Co. Ltd., Microtek International Pvt Ltd., and Phocas AG.
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