Solar PV Junction Box Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026

Global Solar PV Junction Box Market: Overview

Solar PV junction box is a component installed on the backside of a solar module. It houses all the electric bits on a solar panel and protects them from the environment. It is also used to connect panels. Thus, solar PV junction box is the most important part of a solar panel.

Solar PV junction box can be manufactured through two techniques: soldering/potting and clamping. In the first method, foils from a solar panel are soldered to the diodes in the junction box, which is then potted or filled with a sticky material to ensure not only the thermal transfer of heat, but also to keep the solder joint in place and prevent it from falling. After sufficient time has been provided for the curing of the potting material, the solar panel can be used. In the second method, a simple clamping mechanism is used for attaching the foil to the wires. The costs associated with both these methods are fairly equal; however, the price of the clamping box is higher even though the labor requirement on the soldering/potting method is more.

Important characteristics of solar PV junction boxes include maximization of the flow of current and overall efficiency using dual-sided heat dissipation; simplification of the installation process using a thin, compact and convenient design and layout; and minimization of connection issues over the product’s lifetime through enhanced connector security and strength.

Solar PV junction boxes are available in a wide range of sizes and configuration in order to meet different weather requirements, sizes, and capacities of solar power plants. In recent times, the product has undergone an evolution in order to keep pace with the more powerful solar modules. For example, cool bypass switches are now replacing traditional diodes in junction boxes in order to mitigate the tendency of solar modules to generate excessive heat. However, this has led to an increase in the price of junction boxes. Many power producers are turning to bifacial panels where only one solar PV junction box is used. These boxes have evolved further in order to keep up with the other changes in solar power plants such as rapid shutdown and other module-level functionality requested by various national regulations. Thus, companies have now started manufacturing customizable, open-format, multifunction junction boxes in order to include future updates. These updates can include optimizers or micro inverters if their electronics can be reduced in size.

Global Solar PV Junction Box Market: Key Players

Key global solar PV junction box market include TE Connectivity, Stäubli Electrical Connectors, Targray, Geesys Technologies, DuPont, and LEONI Studer AG. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.