Charge Controllers with MPPT Market Size, Share, Growth Analysis, By Application(Industrial, Commercial, Residential), By End Use(Solar Home Systems, Solar Street Lighting, Solar Water Pumping Systems, Telecom Towers), By Region - Industry Forecast 2024-2031

Charge Controllers with MPPT Market size was valued at USD 1.55 billion in 2021 and is poised to grow from USD 1.70 billion in 2022 to USD 3.27 billion by 2030, at a CAGR of 9.8% during the forecast period (2023-2030).

The global charge controller with MPPT (maximum power point tracking) market is a rapidly growing market that includes a variety of devices used to regulate the amount of charge flowing to or from a battery bank in a solar power system. Charge controllers are essential components in solar power systems as they protect the batteries from overcharging or discharging, which can result in damage and reduced battery life. The purpose of the global charge controller with MPPT market is to provide reliable, efficient, and cost-effective charge controller solutions for solar power systems. As the world increasingly turns to renewable energy sources, the demand for solar power systems is increasing, and so is the demand for charge controllers with MPPT technology. The market aims to meet this demand by offering a variety of products and solutions that cater to different applications, sizes, and budgets. In March 2021, Morningstar Corporation, a US-based manufacturer of solar charge controllers, inverters, and accessories, announced the launch of its new ProStar MPPT charge controller with advanced thermal management and multiple load control options.

US Charge Controllers with MPPT Market is poised to grow at a sustainable CAGR for the next forecast year.