New YorkAnd the May 31, 2022 /PRNewswire/ — The market for solar array switches will be driven by factors such as increased investments in renewable energy, according to an analyst at Technavio. The global energy mix has changed dramatically over the past two decades. Improvements in energy efficiency have played a major role in balancing energy supply and demand. The competitive cost of electricity production and low carbon emissions from renewable sources have led to increased investments in renewable energy worldwide. Various European countries, such as NorwayAnd the IcelandAnd the Sweden, relying on renewable energy sources for more than half of the total annual energy demand due to the application of stringent emissions standards. The increasing focus on renewable energy sources is leading to investments in the energy industry, which will lead to market growth.

The market size of solar array switches is expected to grow 3.16 billion US dollars From 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a compound annual growth rate of 16.55% during the forecast period.

Find out more insights about market dynamics of Solar Array Switches Market. View sample report

Market: Segmentation Analysis

Segmentation by application:

• Based on the application, the market has been divided into beneficial and non-profitable.

• The benefit part It will have a significant growth in market share during the forecast period.

• The shift to sustainable energy sources and the existence of agreements, such as the Paris Agreement on Climate Change, have increased the demand for solar array switches in recent years.

• The increasing demand for electricity due to the continuous increase in the population will drive the utility segment of the global solar array switchgear market during the forecast period.

Segmentation by geography:

• By geography, the market has been segmented into Asia Pacific, EuropeAnd the North AmaricaAnd the South americaand the The Middle East And the Africa.

• your father It will have a significant growth in market share during the forecast period.

• Government initiatives and financial incentive programs such as FIT in China And the Japan It will drive the market growth of Solar Array Switches in Asia Pacific region during the forecast period.

• Moreover, the market growth in this region will be faster than the market growth in other regions.

• ChinaAnd the VietnamAnd the JapanAnd the Australia are the key countries in the Asia Pacific solar array switches market.

The story continues

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Solar Array Switch Market: Major Vendors

Solar Array Switches Market is concentrated, and vendors deploy growth strategies such as mergers, acquisitions, and collaborations to compete in the market. The report provides detailed information on the competencies, capabilities, and products offered by the top vendors, including ABB Ltd. and Bentek Corp. and Bremas Ersce Spa and Eaton Corp. Plc, Mersen Corporate Services SAS, and MidNite Solar Inc. and ProJoy Electric Co. and Salzer Electronics Ltd. Santon International BV, Schneider Electric SE, Siemens AG, SOCOMEC Group, SUNTREE Electric Group Co., Ltd. Ltd. , among others.

For more details about the major vendors in the Solar Array Switches market and their offers, View our sample report

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table of contents

1. Executive Summary

2 market view

3 market sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 customer perspective

7 Geographical landscape

8 Drivers, Challenges and Trends

9 landscape seller

10 Vendor Analysis

Appendix 11

About Technavio

Technavio is a global leader in technology research and consulting. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and develop effective strategies to improve their market positions.

With over 500 dedicated analysts, Technavio’s reporting library consists of more than 17,000 reports and statistics, covering 800 technologies, spanning across 50 countries. Their client base consists of organizations of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in current and potential markets and to assess their competitive positions within changing market scenarios. .

Contacts

Technavio Research
Jesse Maeda
Marketing and Media Executive
United States: +1844364 1100
United Kingdom: +44 203893 3200
Email: media@technavio.com
Website: www.technavio.com/

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The source is Technavio