The North America Solar Charge Controller Market would witness market growth of 6.7% CAGR during the forecast period (2022-2028).
The market is expected to grow as a result of the quick rise in solar panel installations, variety of rooftop operations in outlying locations, & electronic infrastructure for solar power technologies. The market for solar charge controllers is anticipated to grow as a result of rising power consumption from data centers & communication base stations, as well as the growing use of solar PV modules in healthcare facilities, lodging establishments, as well as commercial buildings. There are several government initiatives and investments in various solar infrastructure projects in the fields of energy, railroads, and real estate, which would present chances for market.
In order to prevent the battery from being overcharged or discharged, the solar charge controller controls the voltage & current flowing from the solar panels to the associated battery. The demand for charge controllers to control power flow in off-grid applications is predicted to increase because of the growing need for a constant energy source in urban areas, on the go, or in severe climates with enough sun hours.
In the world, Canada is a leader in the use of clean, renewable energy. A large amount of the electricity produced in Canada came from renewable energy sources, including wind, hydro, biomass, solar, geothermal & marine/tidal wave energy. Canada's primary energy source traditionally has been hydropower, which produces more than half of the nation's electricity. Solar power is more affordable, available, & pervasive than ever in the United States. In the United States, the capacity of solar energy has increased from 0.34 GW in 2008 to around 97.2 GW at this time.
The US market dominated the North America Solar Charge Controller Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $501 million by 2028. The Canada market is poised to grow at a CAGR of 9.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.2% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Solar Charge Controller Market is Estimated to reach $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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