Technologies of Solar PV Balance of System Market Growth, Top Players, and Forecast by 2031

MARKET INTRODUCTION  

The balance of a PV system is a component excluding modules that transfers the energy generated by solar panels through a conversion system that produces electricity. It is usually the system balance factor of PV that controls costs, increases efficiency and modernizes PV systems. The PV system has three major sections: stand-alone, grid tie, and PV. The island system is independent, not connected to the grid, and has several backup systems. No maintenance or regular fuel is required. In a grid connection system, the load is supplied directly from the PV generator if there is sufficient solar radiation and also from the grid if there is insufficient solar radiation. 

MARKET DYNAMICS

The solar energy sector has achieved grid equivalence but is competing with itself to provide advanced and efficient energy solutions. Today, many consumer goods are powered by solar power. The energy consumed by such devices is low and has great potential for applications. The photovoltaic sector is gaining popularity in countries such as the United States, Italy, Japan, the United Kingdom, France, Germany and India. There is considerable interest, research effort and funding in this area. This global interest is driven by many factors, including the search for new energy sources with strong pressure on traditional fuels, simplicity, cleanliness, and direct conversion to electricity.

MARKET SCOPE  

 
The "Global Technologies of Solar PV Balance of System Market Analysis to 2031" is a specialized and in-depth study of the technologies of solar PV balance of system market with a special focus on the global market trend analysis. The report aims to provide an overview of the technologies of solar PV balance of system market with detailed market segmentation by type, application, and geography. The global technologies of solar PV balance of system' market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading technologies of solar PV balance of system market players and offers key trends and opportunities in the technologies of solar PV balance of system' market. 

MARKET SEGMENTATION

The global technologies of solar PV balance of system market are segmented based on type and application. Based on its technology, technologies of solar PV balance of system' market can be segmented into DC cabling, combiner boxes, connectors, inverters, monitoring hardware and others. Based on its application, technologies of solar PV balance of system' market can be segmented into commercial, residential, agricultural, and public facilities. 

IMPACT OF COVID-19 ON TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM MARKET

With the recent outbreak of COVID 19, the series tractor market is expected to experience a slight decline due to the blockade policies adopted by various governments around the world. However, the market continued is growth owing to the ongoing government project. For instance, in April 2021, China's State Grid Corporation of China (SGCC), a power transmission system operator in China, established an ultra-high voltage (U.H.V.) DC (DC) of 800 kV and 800 MW between Yulin, Shaanxi and Wuhan provinces. Construction of a power transmission project has started. 

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Technologies of Solar PV Balance of System Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Technologies of Solar PV Balance of System Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Technologies of Solar PV Balance of System Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the technologies of solar PV balance of system market in these regions.
 

MARKET PLAYERS

The reports cover key developments in the technologies of solar PV balance of system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from technologies of solar PV balance of system market are anticipated to lucrative growth opportunities in the future with the rising demand for technologies of solar PV balance of system market. Below mentioned is the list of few companies engaged in the technologies of solar PV balance of system market. 
The report also includes the profiles of key technologies of solar PV balance of system market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

• Solea AG
• Magnum Energy
• Sensus Energy
• SMA
• SolarEdge
• OutBack Power
• ABB
• IronRidge
• Fronius
• Unirac Inc.

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
 

Technologies of Solar PV Balance of System Report Scope