Solar Simulator Market is projected to achieve a valuation of $364.6 million by 2031 | Sciencetech Inc., Endeas
The global Solar Simulator Market size was valued at $203.6 million in 2021, and is projected to reach $364.6 million by 2031, growing at a CAGR of 5.8% from 2022 to 2031.A solar simulator, also referred to as a sun simulator, is a device designed to emit light closely resembling natural sunlight. There are two main categories: steady state and pulsed solar simulators. Pulsed solar simulators can further be categorized into single pulse or multi-pulse variants. Steady state solar simulators can operate continuously for up to 1,000 hours, while pulsed ones can produce between 40,000 to 1 million flashes.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
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The increasing demand for solar products in emerging economies such as India, China, and Japan has contributed to the global growth of the solar simulator market. However, challenges such as the high initial cost of solar simulators, as well as issues like high power consumption, expensive electronic components, and limited lifespan, are anticipated to hinder market growth in the foreseeable future.
These simulators play a crucial role in various industries, including solar cell and module testing, automotive assessment, textile analysis, biomass research, and indoor testing for research and development purposes. The growth of industries like textiles, automotive, paint and coatings, solar energy, pharmaceuticals, chemicals, and healthcare has driven the demand for solar simulators. This demand stems from the need to evaluate the performance of materials and products in these sectors.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐ง ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
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On the basis of region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2021, and is anticipated to maintain this dominance in solar simulator market trend during the forecast period. This is attributed to the presence of key players and huge consumer base in the region. In addition, rapid expansion of the renewable energy sector, rise in investment toward building & construction of renewable energy infrastructure, and increase in research & development efforts in the region are further anticipated to fuel the growth of the market in the upcoming years.
๐๐จ๐ฅ๐๐ซ ๐๐ข๐ฆ๐ฎ๐ฅ๐๐ญ๐จ๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
๐๐ฒ ๐๐ฒ๐ฉ๐
Steady State
Pulsed
๐๐ฒ ๐๐ข๐ ๐ก๐ญ ๐๐จ๐ฎ๐ซ๐๐
Xenon Arc Lamp
Metal Halide Arc Lamp
UV Lamp
QTH Lamp
LED Lamp
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
PV Cell Module and Material Testing
UV Testing of Materials and Products
Automotive Testing
Biomass Study
Others
๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ:
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In addition, increase in demand for rapid & accurate measurement of electrical power output, characteristics of PV cells, modules, and solar panels for manufacturing of standard products is further expected to fuel the growth of the market in the coming years.
On the basis of light source, the xenon arc lamp segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to rise in demand for xenon arc lamp based solar simulator owing to its ability to produce stable spectral equal to the sunlight without filtering from various applications including testing of PV cell or module applications. In addition, increase in use of xenon arc lamp based solar simulator owing to advantages associated with it such as good match to sunlight spectrum, stable spectrum, ability to produce high intensity beams and others fuel the growth of the xenon arc lamp based solar simulator market in the coming years.
On the basis of application, the PV cell/module and material testing segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 5.9%. This is due to rapid growth in the solar energy industry over the last decade is projected to continue in the upcoming years and owing to increased investments in renewable energy across the globe. In addition, rise in demand for solar panels to energize home appliances such as lights and pumps rises the demand for solar based products, which in turn is expected to drive the growth of the solar simulator for the testing of modules and PV materials during the forecast period.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ญ๐ฎ๐๐ฒ:
โข In 2021, the pulsed solar simulator type segment accounted for about 56.7% of the share in the global solar simulator market, and is expected to maintain its dominance till the end of the forecast period.
โข In 2021, the xenon arc lamp light source segment accounted for 31.4% solar simulator market share in the year 2021, and is anticipated to grow at a rate of 5.7% in terms of revenue, increasing its share in the global solar simulator market.
โข LED lamp is the fastest-growing light source segment in the global solar simulator market, and is expected to grow at a CAGR of 6.1% during 2022-2031.
โข Automotive testing application segment is expected to grow at the fastest rate, registering a CAGR of 6.2%, throughout the forecast period.
โข In 2021, Asia-Pacific region dominated the global solar simulator market with more than 42.7% of the share, in terms of revenue.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The Solar Simulator Industry's key market players adopt various strategies such as product launches, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
โข Schneider Electric
โข Asahi Spectra Co. Ltd.
โข Sciencetech Inc.
โข Iwasaki Electric Co. Ltd.
โข Endeas
โข ABB Ltd
โข Solar Light Company LLC
โข Abet Technologies Inc.
โข Gsolar Power Co. Ltd.
โข Spectrolab
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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