The global PV combiner box market is poised to register a 5.1% CAGR, capturing a revenue share of US$ 120 million in 2022, to reach US$ 205 million by 2032.
The currently active market players heavily invest in Research and Development activities to diversify and differentiate their offerings and also to gain a competitive edge in the market. Multiple participants in the PV combiner box market ecosystem are responsible for global growth and market security.
| Report Attribute | Details |
|---|---|
| PV Combiner Box Market Value (2022) | US$ 120 Million |
| PV Combiner Box Market Anticipated Forecast Value (2032) | US$ 205 Million |
| PV Combiner Box Market Projected Growth Rate (2022 to 2032) | 5.1% |
Most organizations use PV combiner boxes to protect and boost the performance of their photovoltaic systems. Moreover, PV combiner boxes are widely used in photovoltaic power generation systems. This is because they reduce the number of cables that are required to connect the inverter with an array of solar modules.
For large photovoltaic arrays, a series of solar modules are connected in a string to build up the voltage to the inverter's specifications. By combining multiple solar modules in parallel, the output currents of the strings can be boosted to higher levels for input into the inverter.
Smart PV combiner boxes combine the output of multiple PV modules for connection to an inverter, provide surge and overcurrent protection, and monitor the single-string current and voltage, surge protective device, and breaker condition of a PV array. Commercial and utility-scale PV power plants (greater than 500kW) typically use this technology.
There are several reasons PV combiner boxes are widely used, including their flexibility, maintenance, anti-corrosion, and safety. Recognizing the PV combiner boxes' demand across different buyer segments has provided an impetus for growth in the market globally.
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The rising adoption of PV combiner boxes in large-scale grid-connected PV systems is one of the major factors driving the growth of the market owing to its flexible, efficient, and safety features. Moreover, the rising demand for ground mount and commercial rooftop-based PV combiner boxes is also turning out to be another major factor driving the growth of the PV combiner box market positively. Mechanical and electrical failure at the time of installation is the major challenge faced by most PV combiner box vendors.
Regionally, the global PV combiner box market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ), and Japan. Among these regions, North America is expected to hold the largest share of the PV combiner box market and is likely to continue to flourish in its trend, owing to significant growth in technological innovations of PV combiner boxes in this region.
North America is anticipated to control a maximum market share of the global PV combiner box in 2022. Among the total market share of the global PV combiner box market, it is also predicted to maintain steady growth throughout the forecasted period.
The European countries, including the UK, Italy, and Germany, have combined to attain a global PV combiner box market share in the forecast period. Increasing demand for renewable energy sources and increasing awareness of the benefits of PV combiner boxes may be responsible for this trend.
There are several factors contributing to this growth, including increased electricity consumption, increased investment in solar power infrastructure, and supportive government policies. Huge investments and business development opportunities have been attracted to this region.
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PV combiner boxes have a multifaceted ecosystem that has multiple participants responsible for the market's growth and sustainability. Emerging trends in the PV combiner box market are brought about as a result of the major players' adoption of several growth strategies, including product launches, acquisitions, and collaborations.
In July 2016, Eaton Corporation launched new Crouse-Hinds series 1500V DC combiner box for large-scale solar photovoltaic applications. This combiner box is specifically designed to help customers by minimizing system costs by reducing wiring requirements and installation time.
The prominent player operating in the PV combiner box market includes Schneider Electric, XJ Group, Eaton Corporation, Renovagyand Surpass Sun Electric, CFAT, Wuxi Longmax, Noark, Kingshore, Weidmuller, TOPBAND, Eaton, Jinting Solar, Kebite, TBEA, Huasheng Electric, EAST, Sungrow, FIBOX, Golden Highway, Guanya Power, Temaheng Energy, Tongqu Electric, and others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.1% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
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The global PV combiner box market is set to advance at a CAGR of 5.1% from 2022 to 2032.
North America dominates the global PV combiner box market.
The future of the PV combiner box market is likely to account for US$ 205 million by 2032.
The adoption of PV combiner box is likely to reach a valuation of US$ 120 million in 2022.
1. Executive Summary | PV Combiner Box Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and Their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2022 to 2032 5.3.1. DC smart 5.3.2. AC smart combiner box 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Product Type, 2022 to 2032 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2022 to 2032 6.3.1. Residential 6.3.2. Commercial 6.3.3. Utilities 6.4. Y-o-Y Growth Trend Analysis By Application, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Application, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 8.2.1. By Country 8.2.1.1. United States of America 8.2.1.2. Canada 8.2.2. By Product Type 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product Type 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Product Type 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product Type 9.3.3. By Application 9.4. Key Takeaways 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Product Type 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product Type 10.3.3. By Application 10.4. Key Takeaways 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Malaysia 11.2.1.5. Singapore 11.2.1.6. Australia 11.2.1.7. New Zealand 11.2.1.8. Rest of Asia-Pacific (APAC) 11.2.2. By Product Type 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product Type 11.3.3. By Application 11.4. Key Takeaways 12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of Middle East and Africa 12.2.2. By Product Type 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product Type 12.3.3. By Application 12.4. Key Takeaways 13. Key Countries Market Analysis 13.1. United States of America 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2021 13.1.2.1. By Product Type 13.1.2.2. By Application 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2021 13.2.2.1. By Product Type 13.2.2.2. By Application 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2021 13.3.2.1. By Product Type 13.3.2.2. By Application 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2021 13.4.2.1. By Product Type 13.4.2.2. By Application 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2021 13.5.2.1. By Product Type 13.5.2.2. By Application 13.6. United Kingdom 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2021 13.6.2.1. By Product Type 13.6.2.2. By Application 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2021 13.7.2.1. By Product Type 13.7.2.2. By Application 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2021 13.8.2.1. By Product Type 13.8.2.2. By Application 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2021 13.9.2.1. By Product Type 13.9.2.2. By Application 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2021 13.10.2.1. By Product Type 13.10.2.2. By Application 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2021 13.11.2.1. By Product Type 13.11.2.2. By Application 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2021 13.12.2.1. By Product Type 13.12.2.2. By Application 13.13. Malaysia 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2021 13.13.2.1. By Product Type 13.13.2.2. By Application 13.14. Singapore 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2021 13.14.2.1. By Product Type 13.14.2.2. By Application 13.15. Australia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2021 13.15.2.1. By Product Type 13.15.2.2. By Application 13.16. New Zealand 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2021 13.16.2.1. By Product Type 13.16.2.2. By Application 13.17. GCC Countries 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2021 13.17.2.1. By Product Type 13.17.2.2. By Application 13.18. South Africa 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2021 13.18.2.1. By Product Type 13.18.2.2. By Application 13.19. Israel 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2021 13.19.2.1. By Product Type 13.19.2.2. By Application 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Product Type 14.3.3. By Application 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Sungrow 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. Schneider Electric 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. XJ Group 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. Eaton Corporation 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. Renovagy 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. Surpass Sun Electric 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. Wuxi Longmax 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. TBEA 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. Jinting Solar 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. Winline Technology 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 15.1.11. Kebite 15.1.11.1. Overview 15.1.11.2. Product Portfolio 15.1.11.3. Profitability by Market Segments 15.1.11.4. Sales Footprint 15.1.11.5. Strategy Overview 15.1.11.5.1. Marketing Strategy 15.1.11.5.2. Product Strategy 15.1.11.5.3. Channel Strategy 15.1.12. Weidmuller 15.1.12.1. Overview 15.1.12.2. Product Portfolio 15.1.12.3. Profitability by Market Segments 15.1.12.4. Sales Footprint 15.1.12.5. Strategy Overview 15.1.12.5.1. Marketing Strategy 15.1.12.5.2. Product Strategy 15.1.12.5.3. Channel Strategy 15.1.13. FIBOX 15.1.13.1. Overview 15.1.13.2. Product Portfolio 15.1.13.3. Profitability by Market Segments 15.1.13.4. Sales Footprint 15.1.13.5. Strategy Overview 15.1.13.5.1. Marketing Strategy 15.1.13.5.2. Product Strategy 15.1.13.5.3. Channel Strategy 15.1.14. Kingshore 15.1.14.1. Overview 15.1.14.2. Product Portfolio 15.1.14.3. Profitability by Market Segments 15.1.14.4. Sales Footprint 15.1.14.5. Strategy Overview 15.1.14.5.1. Marketing Strategy 15.1.14.5.2. Product Strategy 15.1.14.5.3. Channel Strategy 15.1.15. Golden Highway 15.1.15.1. Overview 15.1.15.2. Product Portfolio 15.1.15.3. Profitability by Market Segments 15.1.15.4. Sales Footprint 15.1.15.5. Strategy Overview 15.1.15.5.1. Marketing Strategy 15.1.15.5.2. Product Strategy 15.1.15.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
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PV Combiner Box Market
