The Module-Level Rapid Shutdown Device Market was valued at US$ 119.9 million in 2024 and is projected to reach US$ 192.3 million by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period (2025-2032).
The U.S. market size is estimated at $145 million in 2024.
China is projected to reach $120 million in 2024.
The One Solar Panels segment is expected to reach $460 million by 2031, growing at a CAGR of 7.5% over the next six years (2025–2031).
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Leading global manufacturers of module-level rapid shutdown devices include:
BENY Electric
Tigo
CED Greentech
CPS
Hoymiles
SMA
Apsmart
TSUN
Aurora
PROJOY Electric
In 2024, the top five players accounted for approximately 64% of global revenue.
We have surveyed the Module-Level Rapid Shutdown Device manufacturers, suppliers, distributors, and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks
This report aims to provide a comprehensive presentation of the global market for Module-Level Rapid Shutdown Device, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Module-Level Rapid Shutdown Device. This report contains market size and forecasts of Module-Level Rapid Shutdown Device in global, including the following market information:
Global Module-Level Rapid Shutdown Device market revenue, 2020-2025, 2026-2031, ($ millions)
Global Module-Level Rapid Shutdown Device market sales, 2020-2025, 2026-2031, (K Units)
Global top five Module-Level Rapid Shutdown Device companies in 2024 (%)
Rising Solar Panel Installations
Increasing global demand for rooftop solar systems in residential and commercial buildings is accelerating the need for module-level shutdown devices for safety and regulatory compliance.
Stringent Fire Safety Regulations
Governments, especially in the U.S., are enforcing National Electric Code (NEC) regulations that require module-level rapid shutdown capabilities, driving adoption across new and retrofit solar projects.
Integration with Smart Inverters
Module-level shutdown devices are increasingly integrated with smart inverters to improve system efficiency and offer real-time monitoring and control.
Growth of Distributed Energy Resources (DER)
The rapid rise of distributed solar systems is fueling demand for modular safety components, including rapid shutdown devices, at the panel level.
Advancements in Wireless Communication
Newer devices use wireless protocols to simplify installations and reduce wiring complexity, enabling faster deployment and lower labor costs.
Global Module-Level Rapid Shutdown Device market, by Type, 2020-2025, 2026-2031 ($ millions) & (K Units)
Global Module-Level Rapid Shutdown Device market segment percentages, by Type, 2024 (%)
One Solar Panels
Multiple Solar Panels
Global Module-Level Rapid Shutdown Device market, by Application, 2020-2025, 2026-2031 ($ Millions) & (K Units)
Global Module-Level Rapid Shutdown Device market segment percentages, by Application, 2024 (%)
Commercial Buildings
Residential Buildings
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Module-Level Rapid Shutdown Device revenues in global market, 2020-2025 (estimated), ($ millions)
Key companies Module-Level Rapid Shutdown Device revenues share in global market, 2024 (%)
Key companies Module-Level Rapid Shutdown Device sales in global market, 2020-2025 (estimated), (K Units)
Key companies Module-Level Rapid Shutdown Device sales share in global market, 2024 (%)
Further, the report presents profiles of competitors in the market, key players include:
BENY Electric
Tigo
CED Greentech
CPS
Hoymiles
SMA
Apsmart
TSUN
Aurora
PROJOY Electric
SunSniffer
Enphase Energy
SolarEdge
Tigo Energy
APsystems
SunSpec Alliance Members
ABB
Darfon Electronics
Delta Energy Systems
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Q1. What are the key driving factors and opportunities in the Module-Level Rapid Shutdown Device market?
A1. Rising solar installations, fire safety regulations like NEC compliance, and emerging markets are key drivers. Opportunities lie in plug-and-play solutions and partnerships with inverter companies.
Q2. Which region is projected to have the largest market share?
A2. North America, especially the U.S., is expected to lead due to strong regulatory enforcement and high rooftop solar adoption.
Q3. Who are the top players in the global Module-Level Rapid Shutdown Device market?
A3. Leading companies include BENY Electric, Tigo, CED Greentech, CPS, Hoymiles, and SMA.
Q4. What are the latest technological advancements in the industry?
A4. Wireless communication integration, smart inverter compatibility, and compact plug-and-play module designs are the latest advancements.
Q5. What is the current size of the global Module-Level Rapid Shutdown Device market?
A5. The market was valued at US$ 119.9 million in 2024 and is projected to reach US$ 192.3 million by 2032, growing at a CAGR of 7.4%.