The charge controller system market is likely to secure a CAGR of 5.5% during the forecast period. The market is projected to be valued at US$ 4.6 billion in 2023 and is likely to be valued at US$ 7.4 billion by 2033.
As per the analysis, North America holds the second position in the market by acquiring 14% of the share during the forecast period. The US is expected to acquire maximum contributions in the market during the foreseen time. The growth of the market can be attributed to the implementation of favorable policies by the government. For instance, the Energy Policy Act addresses energy production in the United States, including renewable energy, oil, and gas, tribal energy, and others.
Charge controller systems, specifically, are used during solar power generation in Photo Voltaic (PV) systems. They are connected in between the PV array cells and the battery to regulate the current/ voltage flow. In case of overcharging, when the battery charges power more than the rated voltage/current, charge controllers disconnect the battery from PV arrays in the absence of load.
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Charge controllers are used in different types of power generating systems regardless of the source i.e. wind energy, solar energy, hydropower based, fuel systems based, etc., and are essential for all power system applications. The growing demand for power systems across the globe is expected to boost the charge controller systems market.
Charge controllers regulate the batteries to limit the voltage/ current from overcharging and discharging, thus protecting them and increasing their overall service life. Preventing the batteries from damage during the charging process also optimizes the overall system performance.
The charge controller system market is expected to experience significant growth in the coming years. Here are some key takeaways:
- Market growth: The charge controller system market is expected to grow at a CAGR of around 9% from 2021 to 2026.
- Increasing demand: The increasing demand for renewable energy sources, such as solar and wind power, is a major driver of market growth.
- Off-grid applications: Charge controller systems are widely used in off-grid applications, such as remote locations and outdoor activities, which is driving their adoption.
- Battery charging: Charge controller systems are used for regulating and monitoring the battery charging process in various applications, such as solar power systems and electric vehicles.
- Asia-Pacific region: The Asia-Pacific region is expected to experience the highest growth in the charge controller system market due to the increasing adoption of renewable energy sources in countries such as China and India.
- Competition: The charge controller system market is highly competitive, with several key players operating in the market. Some of the major players include Morningstar Corporation, Schneider Electric, OutBack Power, and Victron Energy.
To control the input voltage, charge controllers block the reverse current. Reverse current flows in the consequences of overcharging. By using the diode in series and shunt, it can be controlled and if the charge exceeds more than the rated voltage, the battery will be disconnected from the PV system. When used in wind power generation system, charge controllers dissipate the excess power in the form of heat in case of the battery is overcharged.
Solar charge controllers are basically of two types – pulse width modulation (PWM) and maximum power point tracking (MPPT). MPPT charge controllers are widely used in solar power generation for their high efficiency and reliability.
They allow solar panels (PV arrays) to operate at the optimum output voltage to boost the performance more than 30%. PWM charge controllers are available in the market for a long time and they are less efficient and cost low when compared to the MPPT.
Various basic switching controllers include – temperature compensation, equalization charging, meters and indicators for system status and operating information. In order to regulate the battery by set point for load disconnection during discharging and overcharging of the battery, the following steps are followed
Regulate set point: Fix the set point at maximum permissible voltage to allow the battery to charge. If the voltage increases more than the set point, the controller discontinues the charging. The specific selection of the set point depends on the operating temperature and battery chemistry.
Voltage Regulate Hysteresis: Voltage Regulate Hysteresis is an important factor causing charging effectiveness of a controller.
(LVD)Low voltage disconnect: Low voltage disconnect is a set point at which the load is disconnected from the battery to stop overdischarge
(LVDH) Low voltage disconnect hysteresis (LVDH): It is the voltage at which reconnected.
Europe holds the highest market share with more number of solar panels installed. North America holds the second largest market share in charge controller systems market. APEJ holds the prominent market share during the forecasted period with more no of solar and wind power installations.
Global Charge Controllers System Market: Key Trends and Drivers
Growing demand for power pertaining to energy crisis boosts the growth of the renewable energy sources which in turn a key driver for charge controller systems market. Owing to the characteristics of charge controllers in order to regulate the battery over the charging and discharging in PV systems, wind power drives the growth of the market. Smart grid utility station are installed are growing with new advanced technologies in which charge controllers are used drives the market.
Global Charge Controllers System Market: Market Participants
Examples of some of the market participants identified across the value chain include, Morningstar, Blue Sky Energy, Steca Elektronik, OutBack power, Phocos, Beijing Epsolar, Centosolar, Genasun, Shuori New energy, Leonics, /solex,Intepower, Sunway Power.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments
By Controller Type:
- PWM Charge Controller Systems
- MPPT Charge Controller Systems
- Other Charge Controller Systems
By Application:
- Solar-based Applications
- Wind-based Applications
- Smart Grid Applications
- Other Application
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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