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Electrical energy is the basic need today, and its demand is increasing all over the world. Also, the need for an alternate source for energy has gained importance, and as solar energy is renewable energy backed with the government's ambitious green energy targets, it has become a major attraction for investors. Over the last decade countries like China, Germany and USA have come up as solar powerhouses and increased the production of electricity by solar energy which in turn has helped the Potting System for Solar Charge Controller market to grow.
Based on resin, the potting system for solar charge controller market is divided into polyurethane, epoxy, silicone, and UV curing materials. On the basis of method, it can be segmented into manual and automatic systems. The automatic systems are further divided into atmospheric and vacuum. On the basis of application, potting system for solar charge controller is divided into solar street lighting, solar home systems, hybrid systems, solar water pumps, etc.
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The major market driver for the global potting system for solar charge controller market is the increasing demand for clean energy around the world. Many countries are now shifting towards the sources of clean energy. With the provision of government incentives and tax rebates over the installation of solar panels, solar PV is the most adopted amongst the available sources. The charge controllers are used in independent installations which are used for off-grid and standalone or mini-grid applications.
The key market restraint for the global potting system for solar charge controller market is the high cost of installation of the solar panels. Although the solar charge converter is affected by environmental conditions, the solar panels and battery are not immune to it.
Some of the major companies that are present in the potting system for solar charge controller market are Master Bond, HK Wentworth India Pvt Ltd, Epic Resins, Nordson Corporation, Demak Group, Elantas PDG Inc., Elchem Silicones, Alchemie Limited, and Hexion.
The global potting system for solar charge controller market has spread into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia-Pacific dominates the potting system for solar charge controller market. Asia-Pacific region has the largest installation of solar PV and is growing at the fastest pace worldwide. China is the largest producer of solar panels and photovoltaic energy in the Asia Pacific region as well as in the world. Governments in India and China are promoting the use of off-grid and standalone solar PV in rural areas, and it has positively influenced the potting system for solar charge controller market. Germany is the largest solar energy producer in Europe followed by Italy, the United Kingdom, Spain, and others. The renewable energy directive by the EU is pushing the use of renewable energy like solar and wind in this region. The USA ranks top in North America and Chile in South America for solar energy. Due to greater awareness in Europe and North America, the number of off-grid and standalone solar installations per capita is much higher than the world average. Countries like China, Germany, USA, India, etc. are funding research and development activities in the solar PV field to enhance the performance and efficiency of off-grid and standalone solar applications. Next breakthrough in the solar PV field is going to come from these countries. Other countries like Canada, Mexico, Brazil, Uruguay, etc. have also increased the production of solar energy at a steady rate. African continent receives maximum sunlight than any other continent on earth & African countries seem to have realized that which can be noticed by their approach towards solar energy in recent time. Global organizations like the UN are promoting the use of off-grid and standalone solar PV in the African subcontinent. The UN provides funding for the construction of off-grid and standalone solar PV not only in Africa but also worldwide. South Africa has been the most prosperous country in the production of solar energy in this region by far, followed by countries like Angola, Egypt, Senegal, etc. The increasing off-grid and standalone solar PV installations around the world have boosted the potting system for solar charge controller market. The rural electrification initiatives worldwide have spurred the demand of potting system for solar charge controller.
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