Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Power Optimizer Market size is expected to reach $5.2 billion by 2028, rising at a market growth of 10.4% CAGR during the forecast period.
The Standalone segment is showcasing a CAGR of 11.9% during (2022 - 2028). The increasing growth of the segment is attributed to the fact that it does not need any additional interface hardware and enables operation with any inverter. produces up to a 25% increase in energy. All sorts of module mismatch losses, including those caused by manufacturing tolerances, partial shade, and dirt, are reduced. greater effectiveness.
The Utility segment acquired maximum revenue share in the Global Power Optimizer Market by Application in 2021 thereby, achieving a market value of $2.3 billion by 2028. The utility-scale solar has long been a reliable source of steady and clean electricity. One of the quickest methods to cut carbon emissions and move the world toward a clean energy future is to develop utility-scale solar power. Solar power is produced at utility-scale solar installations and sent into the grid to power a utility.
The Monitoring Components segment has shown growth rate of 11.1% during (2022 - 2028). The product penetration will be aided by the growing demand for efficient monitoring tools that may lower operational risks and boost plant productivity. Power optimizers have a number of benefits that make them ideal monitoring components over other options, including increased productivity, shorter reaction times, and performance issue detection.
The Asia Pacific market dominated the Global Power Optimizer Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.9 billion by 2028. The Europe market is exhibiting a CAGR of 9.9% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 9.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/power-optimizer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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