Solar Simulator Market: Global Industry Analysis And Forecast (2023-2029)

Solar Simulator Market was valued at US$ 8.43 Bn. in 2022. The global Solar Simulator Market size is estimated to grow at a CAGR of 6.55% over the forecast period.
Solar Simulator Market Overview:
The Solar energy, like wind and wave energy, has become a popular renewable energy source across the globe. Solar energy is currently widely used in various applications, including domestic hot water production, space and pool heating, and even cooling through the use of systems. Solar energy could also be used to generate power, such as using photovoltaic (PV) panels fixed on buildings or used in stand-alone applications. A solar simulator, also known as an artificial sun, is a device that simulates natural sunlight. The solar simulator aims to create a regulated indoor test facility that may evaluate solar cells, sunscreens, plastics, and other materials and devices under laboratory settings.To know about the Research Methodology :- Request Free Sample Report
Solar Simulator Market Dynamics:
Growing Adoption of Solar Simulator in Various Industry across the Globe:

Solar simulators are used in the research and development of PV, cosmetics, paints and coatings, UV protection fabrics and textiles, and other products. While solar simulators have long been used in testing and measurement environments, OEMs are now looking for next-generation solar simulators with advanced light sources and control systems that provide flexibility, great performance, and cost savings to improve product yields and lower operating costs. Solar simulators are used extensively in high-volume applications such as PV for R&D, testing, and manufacturing.

The rise of the solar simulator market is expected to be driven by PV requirements for utility, residential, and non-residential applications. The simulator devices, which are also used to assess the health and operability of PV modules and PV materials used in production, provide further expansion potential.

Growing Green Energy Demand and Government Support:

The growing demand for green energy and solar simulators in residential regions across the globe would be the primary factors driving the market growth. In addition, rising government initiatives such as providing subsidies for using green energy, evolving solar industry, decreasing costs of solar systems and energy storage devices, and the development of smart cities with green energy in various regions will all contribute to the market value increases. However, the higher cost associated with solar capacitors and a lack of awareness is expected to hamper the market growth through the forecast period.
Solar Simulator Market Segment Analysis:
Based on the Type, the market is segmented into Class AAA, Class ABA, and Class ABB. The Class AAA segment held the largest market share, accounting for 47% in 2022. The Class AAA solar simulator allows clients to execute testing with the highest precision, according to the IEC 60904-9, ASTM E927, and JIS C8912 requirements. Manufacturers choose Class AAA solar simulators for PV cell/module testing because they give greater accuracy and efficiency than other types of solar simulators. Because of its popularity in the testing of PV cells and modules in the solar industry, companies like Newport Corporation, Abet Technologies Inc., Solar Light Company, and Sciencetech Inc. are involved in the construction of class AAA solar simulators.

Based on the Application, the Solar Simulator Market is segmented into PV cell/module and material testing, UV testing of materials and products, Automotive Testing, Biomass study, and others. The PV cell/module and material testing segment held the largest market share, accounting for 41% in 2022. market growth is predicted to be driven by rising PV requirements from utility, residential, and non-residential sectors.

Based on the Light Source, the Solar Simulator Market is segmented into Xenon arc lamp, Metal halide arc lamp, LED lamp, UV lamp, and QTH lamp. The Xenon arc lamp segment held the largest market share, accounting for 34% in 2022. As it provides the closest spectrum match from any artificial source and has a wide range of uses in the solar sector, the xenon arc Lamp-based solar simulator is dominating the market. Aside from that, xenon arc lamps give technical support, a greater range, and consistent output, all of which have a direct impact on the xenon arc lamp type.
Regional Insights:
The Asia Pacific region held the largest market share accounting for 39% in 2022. Due to the growing demand for solar power in countries like India, China, and Indonesia, and government restrictions on green energy across the area, the Asia Pacific is dominating the market. Following Asia-Pacific, North America and Europe have enacted strict laws to reduce emissions and are focusing more on renewable energy projects and energy-efficient sectors; the rise in commercial and industrial development has led to an increase in power demand and government support for the development and commercialization of solar applications across major countries, positively enhancing the market landscape of solar simulator market.

Latin America has emerged as a force of solar capacity due to good conditions for energy production using solar applications. Growing demand, technological advancements, and government legislation are propelling the solar simulator and solar power market in the region to new heights. Solar projects and expenditure on renewable energy infrastructure, as well as the replacement of electricity infrastructure, are likely to be major drivers for the solar simulator market in the Middle East and Africa.

The objective of the report is to present a comprehensive analysis of the global Solar Simulator Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Solar Simulator Market dynamic, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Solar Simulator Market make the report investor’s guide.
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Global Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2018 to 2022
6.55%
US$ 8.43 Bn
US$ 13.15 Bn


Segments Covered


by Dimension
Class AAA
Class ABA
Class ABB
by Design
Xenon arc lamp
Metal halide arc lamp
LED lamp
UV lamp
QTH lamp
by Application
PV cell/module and material testing
UV testing of materials and products
Plastics, paints, and coatings
Textile/fabric
Dermatological products
Others
Automotive testing
Biomass study
Others


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Key Players are :
1. Abet Technologies, Inc
2. Asahi Spectra Co., Ltd.
3. Endeas OY
4. Gsolar Power Co., Ltd.
5. Iwasaki Electric Co., Ltd.
6. Meyer Burger Technology AG
7. Newport Corporation
8. Nisshinbo Mechatronics, Inc.
9. OAI
10. Sciencetech, Inc.
11. Solar Light Company
12. Spectrolab Inc.
13. Spire Solar, LLC
14. Wacom Electric Co., Ltd.

Frequently Asked Questions:

1] What segments are covered in the Solar Simulator Market report?
Ans. The segments covered in the Solar Simulator Market report are based on Dimension, Light Source, and Application.

2] Which region is expected to hold the highest share in the Solar Simulator Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Solar Simulator Market.

3] What is the market size volume of the Solar Simulator Market by 2029?
Ans. The market size of the market by 2029 is expected to reach at US$ 13.15 Bn.

4] What is the forecast period for the Solar Simulator Market?
Ans. The forecast period for the Solar Simulator Market is 2023-2029.

5] What was the market size volume of the Solar Simulator Market in 2022?
Ans. The market size of the Solar Simulator Market in 2022 was valued at US$ 8.43  Bn.