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2010 High Growth Market Opportunity - Photovoltaic (PV) Cell and Module Testers
Frost & Sullivan, October 2009, Pages: 50
Pulsed PV Cell and Module Testers Market Maintains Positive Momentum Despite Recession
Notwithstanding the global economic meltdown, the world PV cell and module testers market has remained buoyant. During 2008, PV had witnessed tremendous growth with installation increase in excess of 100 percent. The pulsed testers segment has been progressing steadily, growing at a compound annual growth rate (CAGR) of 29.8 percent. Sales of testers are primarily driven by additions in production capacity and though the industry is in oversupply, capacity additions are still occurring. Companies have been largely unable to halt additions for 2009 and are likely to slow only in 2010. Beyond 2010, the industry is expected to stabilize and show consistent growth on the back of renewed demand for PV. For years, PV had been in the research stage, with work going on in the field of increasing conversion efficiencies and reducing costs. Recently, the PV industry has blossomed, and a large-scale drive toward production is being seen with companies adding production capacity regardless of the economic predicament. When production capacity is added, the associated market of testers also benefits. "Governments across the world have already focused or are beginning to focus on renewable sources of power, especially solar PV," notes the analyst of this research service. "The market is highly subsidized and countries such as Germany and the United States have implemented policies aimed at increasing adoption of PV." Along with the increase in PV installations, the demand for manufacturing-related equipment such as testers is slated to increase.
Technologies such as thin film are becoming more advanced, and other technologies are also showing lower costs and better efficiencies. "Though the cost of solar power has been declining over the years, there is still a long way to go before it becomes comparable to conventional sources of power, without being subsidized, " says the analyst. "Obviously, future demand for solar PV related equipment will depend on when PV achieves grid parity." The hope of attaining grid parity, may be even as early as 2015, is instilling confidence in the market. This means that demand is growing for testers from both R&D laboratories and manufacturers. The erratic nature of the market is proving to be a challenging aspect. This is evident in the case of Spain, where demand levels soared in 2008 and slumped the following year. In the short term, it is no easy task for market participants to map out the growth potential; hence, it is possible for plans to add capacity and sales projections to go awry. However, once the market matures, it will progress on an even keel.
Uncertainty will overshadow the PV cell and module testers’ market scenario only during the short term, and participants must realize that the market is displaying robust growth and will attain stability in the near future. Considering the overall situation, participants would be wise to continue to ramp up production capacities in order to attain efficiencies of scale. Over the last few years, Asia Pacific has emerged as the largest producer of PV devices, largely driven by China. Targeting Asia Pacific would be a smart strategy that would ensure more productive business outcomes for participants in this space. Some companies in this domain are also showing vertical integration, rolling out both testers and other production equipment. More of this can be expected in the future. Participants in this arena should look for alliances between tester manufacturers and equipment integrators to provide customers a comprehensive offering.
By Geographic Region:
- North America
- Europe
- Asia Pacific
- Rest-of-World
By Equipment Type:
- Steady state testers
- Pulsed type testers
1. Executive Summary
- 1.1 Photovoltaic Cell & Module Testers Market
- - 1.1 a Overview
- - - i Introduction to PV
- - - ii Introduction to PV Testing and Study Focus
- - - iii PV Cell & Module Tester Classification
- - - iv Testers Definition and Segmentation
- - - v Snapshot of Cell & Module Tester Value Chain
- - - vi Geographic Definition
- - 1.1 b Market Engineering Measurements
- - 1.1 c Drivers, Restraints and Challenges
- - - I Industry Challenges
- - - ii Market Drivers
- - - iii Market Restraints
- - 1.1 d Revenue Forecasts
- - 1.1 e Trends
- - - i Market Trends
- - - ii Technology Trends
- - 1.1 f Comprehensive Analysis
- - - i Application Analysis
- - - ii End-user Analysis
- - - iii Geographic Analysis
- - - iv Competitive Forces
- - - v Competitor Analysis
- - - vi Market Share Analysis
- - 1.1 g Conclusion
2. Appendix
- 2.1 Decision Support Database
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