Photovoltaic switch market is anticipated to grow at a significant CAGR of 12.7% during the forecast period (2024-2031). The expansion of the use of solar PV systems for residential applications, the declining cost of PV systems, the increase in solar installations brought about by government-sponsored incentives and programs, and are all factors contributing to the industry's growth. According to the International Energy Agency (IEA), in 2022, investments for the expansion of solar PV capacity globally climbed by more than 20.0, surpassing $320 billion and setting a new record. In the same year, solar PV accounted for 45.0% of all investments made globally in the production of electricity, demonstrating its dominant position in the energy industry. Furthermore, the market for photovoltaic switches is anticipated to expand owing to the rising demand for passivated emitter and rear cell (PERC) modules, a technology that adds a dielectric passivation layer to the back of the cell to increase efficiency over conventional solar cells.
Browse the full report description of “Photovoltaic Switch Market Size, Share & Trends Analysis Report by Type (Fixed, Plug-In, and Drawer Type), by Product Type (DC Disconnect Switches, AC Disconnect Switches, Transfer Switches, and Load Break Switches), and by Application (Residential Solar Systems, Commercial Solar Systems, Utility-Scale Solar Systems, Off-Grid Solar Systems and Solar PV Inverters) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/photovoltaic-switch-market
Recent Developments
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Product Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- ABB Ltd., Eaton Corp., Legrand Group, Schneider Electric, and Siemens AG among others. The
Key questions addressed by the report.
Global Photovoltaic Switch Market Report Segment
By Type
By Product Type
By Application
Global Photovoltaic Switch Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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