Solar Simulator Market is projected to achieve a valuation of $364.6 million by 2031

Solar Simulator Market is projected to achieve a valuation of $364.6 million by 2031

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.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
https://www.alliedmarketresearch.com/request-sample/16876

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.

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.

Furthermore, 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.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐎𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.alliedmarketresearch.com/checkout-final/5117856155b61390b3ff80c725ff9faf

𝐒𝐨𝐥𝐚𝐫 𝐒𝐢𝐦𝐮𝐥𝐚𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

𝐁𝐲 𝐓𝐲𝐩𝐞
Steady State
Pulsed

𝐁𝐲 𝐋𝐢𝐠𝐡𝐭 𝐒𝐨𝐮𝐫𝐜𝐞
Xenon Arc Lamp
Metal Halide Arc Lamp
UV Lamp
QTH Lamp
LED Lamp

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
PV Cell Module and Material Testing
UV Testing of Materials and Products
Automotive Testing
Biomass Study
Others

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.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲:
https://www.alliedmarketresearch.com/purchase-enquiry/16876

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 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.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

• 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.
• 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.
• 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.
• Automotive testing application segment is expected to grow at the fastest rate, registering a CAGR of 6.2%, throughout the forecast period.
• In 2021, Asia-Pacific region dominated the global solar simulator market with more than 42.7% of the share, in terms of revenue.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

• Schneider Electric
• Asahi Spectra Co. Ltd.
• Sciencetech Inc.
• Iwasaki Electric Co. Ltd.
• Endeas
• ABB Ltd
• Solar Light Company LLC
• Abet Technologies Inc.
• Gsolar Power Co. Ltd.
• Spectrolab

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

This release was published on openPR.