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Metal Recycling Equipment Market – Key Players are Adopting Different Growth Strategies to Maintain Their Global Dominance

The global charge controller system market is expected to hold a market value worth US$ 3,241.5 Million and US$ 5,568.8 Million in 2022 and 2032, respectively. During the forecast period from 2022-2032, the market is expected to display a CAGR of 5.6%, and registered a CAGR worth 5.3% from 2016-21. The growth of the market can be attributed to the increasing demand for power systems across the globe.

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 being damaged during the charging process also optimizes the overall system performance.

Charge controller systems, specifically, are used during solar power generation in Photo Voltaic (PV) systems.  They are connected 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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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 systems, 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 performance by 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 the 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 regulation hysteresis is an important factor causing the 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 over-discharge

(LVDH) Low voltage disconnect hysteresis (LVDH):  It is the voltage at which reconnected

Europe holds the highest market share with more solar panels installed. North America holds the second largest market share in the charge controller systems market. APEJ holds the prominent market share during the forecasted period with more than no solar and wind power installation.

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Global Charge Controllers System Market: Key Trends and Drivers

Growing demand for power pertaining to the energy crisis boosts the growth of renewable energy sources which in turn is a key driver for the 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 is 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 covers an exhaustive analysis on

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico, Brazil, and the Rest of Latin America)
Western Europe (Germany, Italy, France, U.K, Spain,)
Eastern Europe (Poland, Russia, and the Rest of Eastern Europe)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
The Middle East and Africa (GCC, S. Africa, and Rest of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an 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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Global Charge Controllers System Market: Segmentation

Charge Controllers System Market is segmented as follows

On the basis of controller type

PWM  charge controllers
MPPT charge controllers
Others

On the basis of applications

Solar based
Wind-based
Smart grid
Others

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