Solar Simulator Market - Forecasts from 2022 to 2027

The solar simulator market is estimated to be valued at US$65.754 million in 2020.Solar simulators are devices that simulate natural sunshine for the evaluation of photonic characteristics and solve the problem of providing a controlled indoor test facility for solar cell testing in laboratory settings. The solar simulator is made up of light sources, power supplies, and filters that change the beam's output to suit classification criteria. Due to a growing need for green energy, solar simulators are increasingly being used in applications such as household hot water, manufacturing space, heating, and cooling, among others. With increased investment in the research and development of solar cells, ultraviolet resistant cosmetics and paints, medical treatments, and many other fields, the solar simulator market will grow, as solar simulators provide a more cost-effective alternative to traditional testing and research methods. 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 been used in testing and measurement environments for many years, OEMs are looking for next-generation solar simulators with advanced light sources and control systems that offer versatility, high performance, and cost savings in order to improve product yields and lower operating costs. Solar simulators are extensively used in high-volume applications such as PV for R & D, testing, and production. Solar simulator market growth is projected to be driven by rising PV needs from utility, residential, and non-residential sectors.

Due to increased demand for solar power in countries like India, China, and Indonesia, and government laws on green energy across the area, the Asia Pacific is projected to lead the most significant market in terms of demand for solar simulators. 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 expansion of commercial and industrial development has led to an increase in power demand and government support for the development and commercialization of solar applications across the major countries, positively enhancing the market landscape for solar simulators. Due to favourable circumstances for energy production utilising solar applications, Latin America has emerged as a powerhouse of solar capacity. Growing demand, technological advancements, and government legislation are propelling the solar simulator and the solar power industry in the area to new heights. Solar projects and investment in renewable energy infrastructure, as well as the replacement of electricity infrastructure, are projected to be major drivers for the solar simulator market in the Middle East and Africa.

Growth Factors

Green energy demand is on the rise, and the solar sector is changing, fueling the market growth

One of the major reasons for the growth of the solar simulator market is the surging demand for green energy and the evolving solar sector.

Restraints

The market is hampered by the higher cost of solar capacitors.

A major restraint on the growth of the solar simulator market is the higher cost associated with solar capacitors.

The Impact of COVID-19 on the Solar Simulator Market

In addition, there have been supply chain disruptions and delays in the operations of enterprises. Trade barriers have restrained the stock. The COVID-19 impact on the solar simulator market has been negative owing to the production halt by industries due to the temporary lockdown implemented by several governments to break the cycle of the virus. The unfavorable conditions caused by the COVID-19 virus have had a negative impact on the solar simulator market. However, in the post-COVID scenario, the solar simulator market is expected to bloom with the surging demand in various industry sectors in the forecast period.

Segmentation

The Solar Simulator market has been analyzed through the following segments:

By Type

• Pulse Simulator
• Flash Simulator
• Continuous Simulator

By Light Source

• Quartz Tungsten Halogen Lamps (QHT)
• Metal Halide Arc Lamps (HMI)
• Light Emitting Diodes (LED)
• Xenon Arc Lamps

By Application

• Medical Research
• Solar Cell Testing and Research
• Artificial Environment Testing

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• UK
• Germany
• France
• Spain
• Middle East and Africa
• Saudi Arabia
• Israel
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Taiwan
• Thailand