Global Solar Simulator Market, By Light Source (Xenon Arc Lamp, Metal Halide Arc Lamp, LED Lamp, UV Lamp, and QTH Lamp), Dimension (Class AAA, Class ABA, and Class ABB), Application (PV Cell/Module and Material Testing, UV Testing Of Materials and Products, Automotive Testing, Biomass Study, and Others) - Industry Trends and Forecast to 2030.
Solar Simulator Market Analysis and Size
The rising need for green energy and growing demand for solar simulators in residential areas across the globe will emerge as the major factor driving market growth. Furthermore, the increasing government initiatives like giving subsidies for opting for green energy, evolving solar industry, decreasing costs of solar systems and energy storage devices coupled with development of smart cities with green energy in various regions will further aggravate the market value. However, high set up cost and lack of awareness in some developing region act as a restraint for the market.
In addition to this, an increase in supportive government initiatives to research and development for improving efficiency of green energy for public use create new opportunities for growing the market within the forecast period. The high cost of material make developing countries resistant to adopt the global solar simulator market is expected to dampen the growth rate that further result as a challenge for the market.
Global solar simulator market was valued at USD 14.30 billion in 2022 and is expected to reach USD 22.10 billion by 2030, registering a CAGR of 6.5% during the forecast period of 2023-2030. LED lamp of light source segment is dominating the market due to LED lamps offer several advantages over other light sources, including higher energy efficiency, longer lifespan, and better control over light intensity and spectrum. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Solar Simulator Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Light Source (Xenon Arc Lamp, Metal Halide Arc Lamp, LED Lamp, UV Lamp, and QTH Lamp), Dimension (Class AAA, Class ABA, and Class ABB), Application (PV Cell/Module and Material Testing, UV Testing Of Materials and Products, Automotive Testing, Biomass Study, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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ABET TECHNOLOGIES, INC. (U.S.), Asahi Spectra USA Inc. (U.S.), Gsola.cn (China), IWASAKI ELECTRIC CO. Ltd. (Japan), Meyer Burger (Switzerland), Newport Corporation (U.S.), Nisshinbo Mechatronics, Inc. (Japan), Sciencetech-Inc. (Canada), Solar Light Company, LLC. (U.S.), Spectrolab (U.S.), Eternalsun Spire (Netherlands), ENF Ltd (China), Schneider Electric (France), ABB (Switzerland), ACCIONA S.A. (Spain), Jinko Solar (China), Life Energy Co (South Korea), Aims Power (U.S.), Huawei Technologies Co., Ltd. (China), Alternative Projects Company (U.S.)
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Market Opportunities
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Market Definition
A solar simulator (also referred to as artificial sun) is an equipment which provides illumination of natural sunlight and is used to simulate the solar irradiance and spectrum. It is primarily used to provide a controllable indoor test facility under laboratory conditions, utilized for the testing of solar cells, sun screen, plastics, and other materials and devices.
Global Solar Simulator Market Dynamics
Drivers
- Increasing demand for solar energy
The rising global demand for clean and renewable energy sources, coupled with the need to reduce dependence on fossil fuels, is driving the adoption of solar power systems. This demand fuels the need for solar simulators to test and optimize the performance of solar panels and systems.
- Government support and incentives
Many governments around the world are implementing favorable policies, incentives, and subsidies to promote the adoption of solar energy. These initiatives create a conducive environment for solar simulator manufacturers and users, driving the market's growth.
- Environmental concerns and renewable energy targets
The growing global concern over climate change and the need to reduce greenhouse gas emissions have led to increased emphasis on renewable energy sources. Mega solar power plants provide a sustainable and clean energy solution, enabling countries to meet their renewable energy targets and reduce their carbon footprint.
Opportunity
- Rising global demand for clean and renewable energy sources
There is a rising global demand for clean and renewable energy sources to meet the growing electricity needs while reducing carbon emissions. Mega solar power plants provide an opportunity to fulfill this demand by harnessing abundant solar energy resources and generating large-scale electricity.
Restraints/Challenges
- Upfront capital cost of developing mega solar power plants
The upfront capital cost of developing mega solar power plants can be substantial, including land acquisition, equipment procurement, engineering, and construction. This high initial investment can pose a barrier to entry for some developers, particularly in regions with limited access to financing or where the cost of capital is high.
This global solar simulator market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the mega solar power plant market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- In May 2023, First Solar, Inc. announced its acquisition of Evolar AB, a prominent European company specializing in perovskite technology for thin film photovoltaics (PV). The acquisition further solidifies First Solar's position as a global thin film PV market leader. The purchase price for the acquisition amounts to around USD 38 million, paid upon closing of the deal, with the potential for an additional USD 42 million to be paid based on the achievement of certain technical milestones in the future. The impact on First Solar's operating expenses for the year 2023 is estimated to be approximately USD 2-4 million, excluding any effects related to purchase price accounting. This strategic move demonstrates First Solar's commitment to advancing its technological capabilities and expanding its presence in the rapidly evolving solar energy sector
- In November 2022, Canadian Solar Inc. announced that its 100 MWp Azuma Kofuji solar project in Japan's Fukushima Prefecture has achieved commercial operation, making it the largest operational solar project in the region. The project, powered by Canadian Solar's HiKu modules, will generate approximately 106,800 MWh of clean energy annually, enough to power around 31,000 households and reduce CO2 emissions by over 50,000 metric tons per year. Additionally, a portion of the project's electricity sales revenues will be donated to Fukushima City to support local agricultural sector activities.
Global Solar Simulator Market Scope
The global solar simulator market is segmented on the basis of components, technology, and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Light Source
- Xenon Arc Lamp
- Metal Halide Arc Lamp
- LED Lamp
- UV Lamp
- QTH Lamp
Dimension
- Class AAA, Class ABA
- Class ABB
Application
- PV Cell/Module and Material Testing
- UV Testing of Materials and Products
- Automotive Testing
- Biomass Study
- Others
Global Solar Simulator Market Regional Analysis/Insights
The global solar simulator market is analyzed and market size insights and trends are provided by country, light source, dimension, and application as referenced above.
Solar simulator market is analysed and market size, volume information is provided by country, light source, dimension, and application industry as referenced above.
The countries covered in the solar simulator market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific region dominates the global solar simulator market due to the implementation of stringent green energy regulations. North America is projected to undergo substantial growth during the forecast period owing to the government’s support for the development and commercialization of advanced PV technologies.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Semiconductor Infrastructure Growth Installed Base and New Technology Penetration
The global solar simulator market also provides you with a detailed market analysis for every country’s growth in healthcare expenditure for capital equipment, installed base of different kinds of products for Global solar simulator market, the impact of technology using life line curves, and changes in healthcare regulatory scenarios and their impact on the mega solar power plant market. The data is available for the historic period 2015-2020.
Competitive Landscape and Global Solar Simulator Market Share Analysis
The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global solar simulator market.
Some of the major players operating in the global solar simulator market are:
- ABET TECHNOLOGIES, INC. (U.S.)
- Asahi Spectra USA Inc. (U.S.)
- Gsola.cn (China)
- IWASAKI ELECTRIC CO. Ltd. (Japan)
- Meyer Burger (Switzerland)
- Newport Corporation (U.S.)
- Nisshinbo Mechatronics, Inc. (Japan)
- Sciencetech-Inc. (Canada)
- Solar Light Company, LLC. (U.S.)
- Spectrolab (U.S.)
- Eternalsun Spire (Netherlands)
- ENF Ltd (China)
- Schneider Electric (France)
- ABB (Switzerland)
- ACCIONA S.A. (Spain)
- Jinko Solar (China)
- Life Energy Co (South Korea)
- Aims Power (U.S.)
- Huawei Technologies Co., Ltd. (China)
- Alternative Projects Company (U.S.)
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