Solar Array Disconnect Switches Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, India, Japan, Germany - Size and Forecast 2024-2028

Solar Array Disconnect Switches Market 2024-2028

The solar array disconnect switches market size is forecast to increase by USD 10.62 billion and is estimated to grow at a CAGR of 19.74% between 2023 and 2028.  The report includes historic market data from 2018 - 2022. The market is witnessing a growing demand for companies that are increasingly focusing on technological advancement, the increasing adoption of microgrids, and the increasing popularity of hybrid power projects. 

Solar Array Disconnect Switches Market Overview :

• The market segmentation by Application is categorized as (utility and non-utility)
• The market segmentation by End-user is categorized as (residential, commercial, and industrial)
• Utility is fastest fastest-growing segment during the forecast year
• The  Utility segment  was the largest segment and valued at USD 2.26 billion in 2018
• The Regional Analysis consists of APAC, Europe, North America, South America, and Middle East and Africa
• APAC is is most dominating region during the forecast period
• It also includes an in-depth analysis of the increasing investments in renewable energy, the increasing popularity of hybrid power projects, and the operational issues related to disconnect switches. 

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Solar Array Disconnect Switches Market Trends 

The increasing popularity of hybrid power projects is the primary trend shaping market growth. Power plant operators have been concentrating on the development of hybrid plants by combining solar energy with coal-fired power plants and solar PV panels along with windmills, to boost the use of renewable energy in fulfilling the growing energy demand. These hybrid power plants ensure smooth energy production throughout the day and generate a steady stream of power.

Moreover, some advantages of hybrid plants are complementary power generation, increased efficiency, increased capacity utilization factor, increased utilization of transmission capacity, and efficient use of land. Solar PV panels can be mounted on a combined-cycle gas turbine plant, thereby optimizing space. Consequently, the increasing adoption of hybrid power projects is expected to reduce the cost of power generation, improve plant efficiency, and drive market growth during the forecast period.

Solar Array Disconnect Switches Market  Largest-Growing Segments 

The Utility Segment 

The utility segment is estimated to witness significant growth during the forecast period. Utility projects are installed according to the targets set and policies formulated by corporations and governments to increase power generation capacity and meet the rising energy demand, thereby reducing dependence on power grids. The shift to sustainable energy sources and the presence of agreements, such as the Paris Agreement on climate change, has stimulated the demand for solar array disconnect switches in recent years. 

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Solar PV is considered to be more cost-effective than other solar technologies and is a low-cost source of power generation. It draws heavy investments from investor-owned utilities as well as public utilities. The declining cost of solar electricity generation is a major driver for the growth of the segment. Furthermore, factors such as favorable government support and a decline in solar PV installation costs are expected to drive the segment growth during the forecast period. 

Solar Array Disconnect Switches Market Regional Analysis

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APAC is estimated to contribute 60% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Government initiatives and financial incentive programs such as FIT in China and Japan will drive the installation of solar PV systems and fuel the demand for solar array disconnect switches. The solar array disconnect switches market will witness rapid growth in APAC, mainly driven by solar PV installations in China, India, South Korea, Australia, and Japan. The region exhibits the highest adoption of solar PV systems due to rapid urbanization.

Moreover, the increasing popularity of microgrids in the rural areas of APAC will post the solar array disconnect switches market in the region. The governments of several countries in this region are becoming proactive and taking initiatives to implement microgrid solutions for improving electricity access in rural areas. Furthermore, factors such as the increasing adoption of microgrids and the declining cost of solar power generation will drive the solar array disconnect switches market in APAC during the forecast period.

Solar Array Disconnect Switches Market Dynamic

Key Driver of Solar Array Disconnect Switches Market

Increasing investments in renewable energy is the key factor driving market growth. The global energy mix has changed drastically over the past two decades. Advancements in energy efficiency played a crucial role in balancing energy supply and demand. The competitive cost of producing electricity and low carbon emissions from renewable sources led to an increase in investments in renewable energy across the globe. 

In addition, several countries in Europe, such as Norway, Iceland, and Sweden, rely on renewable sources for more than half of their total annual power demand due to the implementation of stringent emission norms. The increased focus on renewable energy sources is increasing investments in the energy industry, which will drive the growth of the market during the forecast period.

Significance Challenges of Solar Array Disconnect Switches Market

Intermittency in solar power generation is a challenge that affects market growth. The intermittent nature of renewable energy sources is due to several factors, such as a change in weather conditions, geographical location, and the time of the day. This leads to an interrupted power supply and reduces overall output. Several countries are shifting to clean energy sources due to the depletion of fossil fuels and increasing environmental concerns. Dependency on intermittent power generation sources increases the risk of grid stability.

Unlike fossil fuels, solar energy is not available throughout the day. The output of solar power systems varies highly because of the change in solar radiation according to the time of the day and seasons. The intermittent nature necessitates the need for backup power for constant supply and increases grid operations related to planning activities. Furthermore, overcoming the intermittent nature of solar power requires advances. Hence, the intermittency of solar power affects the adoption of solar energy, which may impede market growth during the forecast period.

Solar Array Disconnect Switches Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Solar Array Disconnect Switches Market Customer Landscape

Major Solar Array Disconnect Switches Market Companies

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Bentek Corp.: The company offers solar array disconnect switches such as Utility scale 1500VDC.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• ABB Ltd.
• AIMS Power
• Aurora Solar Inc.
• Bremas Ersce Spa
• Dongguan Slocable Photovoltaic Technology Co. Ltd
• Eaton Corp. Plc
• GlobalSpec LLC
• Mersen Corporate Services SAS
• MidNite Solar Inc.
• Mindian Electric Co. Ltd
• ProJoy Electric Co. Ltd.
• Salzer Electronics Ltd.
• SanTan Solar
• Santon International BV
• Schaltbau GmbH Group
• Schneider Electric SE
• Siemens AG
• SOCOMEC Group
• SUNTREE Electric Group Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The solar array disconnect switches market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Application Outlook
  • Utility
    Non-utility

• End-user Outlook
  • Residential
  • Commercial
  • Industrial

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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What are the Key Data Covered in this Solar Array Disconnect Switches Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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