Photovoltaic switch market is anticipated to grow at a CAGR of 7.8% during the forecast period (2025-2031). Technological improvements in photovoltaic switches that lower the cost of installing solar panels and increased government incentives and policies that encourage solar energy are driving the global expansion of the photovoltaic switch market. According to the International Energy Agency (IEA), in July 2023, solar PV generation increased by a record 270TWh (up 26.0%) in 2022, reaching almost 1300TWh. China continues to lead in terms of solar PV capacity additions, with 100 GW added in 2022, almost 60.0% more than in 2021.
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The simple integration of renewable energy sources into smart grids offers efficient energy distribution and control—and requires PV switches. The growing emphasis on decarbonization and renewable energy deployment accelerates the use of photovoltaic technology. The main factor driving the demand for PV switches globally is the growing use of energy storage and smart grid technologies. Reliable switching mechanisms are necessary for batteries and other energy storage devices to maximize energy flow and ensure system stability.
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- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Photovoltaic Switch Market Report Segment
By Type
- Fixed
- Plug-in
- Drawer type
By Product Type
- DC Disconnect Switches
- AC Disconnect Switches
- Transfer Switches
- Load Break Switches
By Application
- Residential Solar Systems
- Commercial Solar Systems
- Utility-Scale Solar Systems
- Off-Grid Solar Systems
- Solar PV Inverters
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
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global photovoltaic switch market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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