Global Solar Array Disconnect Switches Market 2019-2023
Global Solar Array Disconnect Switches Market: About this market
A solar photovoltaic (PV) system consists of safety disconnects known as solar array disconnect switches. These switches disconnect solar arrays from electric grids and de-energize solar circuits for servicing or maintenance. Technavio’s solar array disconnect switches market analysis considers sales from both utility and non-utility. Our analysis also considers the sales of solar array disconnect switches in APAC, EMEA, the Americas. In 2018, the utility segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for energy will play a significant role in the utility segment to maintain its market position. Also, our global solar array disconnect switches market report looks at factors such as rising demand for clean energy sources, decreasing component prices, favorable government regulations. However, competition from alternative sources, intermittency in solar power generation, operational issues related to disconnecting switches may hamper the growth of the solar array disconnect switches industry over the forecast period.
Global Solar Array Disconnect Switches Market: Overview
Rising demand for clean energy sources
There has been significant growth in the demand for electricity owing to rapid urbanization and industrialization. The rising awareness of GHG emissions and government regulations on reducing carbon footprints fuel the adoption of dean energy technologies across the world. The proliferation of clean energy technologies has increased in recent years because of heavy investments in the renewable energy sector. Factors such as the abundance of free solar energy across most parts of the world, low rate tariffs, and the rising demand for non-fossil fuel-based energy sources will fuel the global solar energy market during the forecast period. This demand for clean energy sources will lead to the expansion of the global solar array disconnect switches market at a CAGR of almost 13% during the forecast period.
Operational issues related to disconnect switches
Solar disconnect switches are subjected to extreme temperature and power supply conditions. These variations in conditions hamper the standardization procedure for the installation of solar disconnect switches. Such factors will impede market growth in the forecast period.
For the detailed list of factors that will drive the global solar array disconnect switches market during the forecast period 2019-2023, click here.
With the presence of several major players, the global solar array disconnect switches market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading solar array disconnect switches manufacturers, that include ABB Ltd., Eaton Corp. Plc, Salzer Electronics Ltd., Schneider Electric SE, and Siemens AG.
Also, the solar array disconnect switches market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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