The global solar simulator market 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.
Solar simulator is a device which produces illumination which is nearly equal to natural sunlight. Its function is to provide controllable indoor test facility for various applications including testing of performance parameters, research & development and others. It consists of three main components including light source, power supply and filters used to optimize the output beam. Types of light sources used in solar simulators include xenon arc lamps, metal halide arc lamp, UV lamp, QTH lamp, and LED lamp.
Rise in building & construction activities in the developing economies across the globe increases the need for continuous power supply that can be fulfilled with the help of solar power generation, which in turn is expected to rise the demand for solar panels. This in turn is expected to drive the solar simulator market growth during the forecast period. However, high cost associated with solar simulators is anticipated to restrain the growth of the solar simulator market during the analyzed time frame. On the contrary, rise in R&D activities toward increasing the efficiency of solar products and government initiative toward renewable energy across the globe are expected to create opportunity for key players operating in the solar simulator market during the forecast period.
The global solar simulator market is segmented on the basis of type, light source, application, and region. Depending on type, the market is segmented into steady state and pulsed. On the basis of light source, it is categorized into xenon arc lamp, metal halide arc lamp, UV lamp, QTH lamp, and LED lamp. The applications covered in the study include PV cell/module and material testing, UV testing of materials and products, automotive Testing, biomass Study, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Solar simulator is a device which produces illumination which is nearly equal to natural sunlight. Its function is to provide controllable indoor test facility for various applications including testing of performance parameters, research & development and others. It consists of three main components including light source, power supply and filters used to optimize the output beam. Types of light sources used in solar simulators include xenon arc lamps, metal halide arc lamp, UV lamp, QTH lamp, and LED lamp.
Rise in building & construction activities in the developing economies across the globe increases the need for continuous power supply that can be fulfilled with the help of solar power generation, which in turn is expected to rise the demand for solar panels. This in turn is expected to drive the solar simulator market growth during the forecast period. However, high cost associated with solar simulators is anticipated to restrain the growth of the solar simulator market during the analyzed time frame. On the contrary, rise in R&D activities toward increasing the efficiency of solar products and government initiative toward renewable energy across the globe are expected to create opportunity for key players operating in the solar simulator market during the forecast period.
The global solar simulator market is segmented on the basis of type, light source, application, and region. Depending on type, the market is segmented into steady state and pulsed. On the basis of light source, it is categorized into xenon arc lamp, metal halide arc lamp, UV lamp, QTH lamp, and LED lamp. The applications covered in the study include PV cell/module and material testing, UV testing of materials and products, automotive Testing, biomass Study, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar simulator market analysis from 2021 to 2031 to identify the prevailing solar simulator market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the solar simulator market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global solar simulator market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
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
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- U.K.
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- UAE
- Rest of LAMEA
Key Market Players
- Sciencetech, Inc.
- Schneider Electric
- Solar Light Company, LLC
- ABB Ltd
- Abet Technologies, Inc.
- Asahi Spectra Co., Ltd.
- Endeas
- Gsolar Power Co., Ltd.
- Iwasaki Electric Co., Ltd.
- Spectrolab
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SOLAR SIMULATOR MARKET, BY TYPE
CHAPTER 5: SOLAR SIMULATOR MARKET, BY LIGHT SOURCE
CHAPTER 6: SOLAR SIMULATOR MARKET, BY APPLICATION
CHAPTER 7: SOLAR SIMULATOR MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Solar Simulator Market," the solar simulator market size was valued at $203.6 million in 2021, and is estimated to reach $364.6 million by 2031, growing at a CAGR of 5.8% from 2022 to 2031.Solar simulator also known as sun simulator is a device capable of providing illumination nearly equal to natural sunlight. There are two different types of solar simulators such as steady state and pulsed solar simulators. Pulsed solar simulator may be single pulse or multi pulse solar simulators. Steady state solar simulators have 1,000 hours of continuous operation. While, pulsed solar simulators have 40,000 to 1 million flashes. Solar simulators are used in testing of solar cells, modules, solar materials & products, automotive testing, textile, biomass study, and other indoor testing facilities for R&D purposes.
Significant development of the end-use industries such as textile, automotive, paint & coatings, solar, pharmaceutical, chemicals, and healthcare has fueled the demand for solar simulators to check performance parameters of the products or materials from above mentioned industries, which in turn drives the growth of the solar simulator market during the forecast period. In addition, increase in demand for solar products from developing economies such as India, China, and Japan fuel the growth of the market, globally. However, high cost associated with solar simulators and disadvantages such as high-power consumption, high electronic drive costs, and short life cycles are the key factors that are expected to hamper the global solar simulator market growth in the upcoming years.
Depending on type, the pulsed solar simulator segment held the highest market share of about 56.7% in 2021, and is expected to maintain its dominance during the solar simulator market forecast period. This is attributed to rise in demand for pulsed solar simulators from PV module testing and other applications.
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.
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.
The global solar simulator market analysis covers in-depth information of the major solar simulator industry participants. The key players operating and profiled in the report include ABB, Ltd., ABET Technologies, Inc., Asahi Spectra Co., Ltd., Endeas, Gsolar Power Co., Ltd., Iwasaki Electric Co., Ltd., Sciencetech, Inc., Schneider Electric, Solar Light Company, LLC, and Spectrolab. Other players operating in the value chain of the global solar simulator market are OAI, Wacom Electric Co. Ltd., Nisshinbo Mechatronics, Inc., Spire Solar, and others.
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.
Companies Mentioned
- Sciencetech, Inc.
- Schneider Electric
- Solar Light Company, LLC
- Abb Ltd
- Abet Technologies, Inc.
- Asahi Spectra Co. Ltd.
- Endeas
- Gsolar Power Co. Ltd.
- Iwasaki Electric Co. Ltd.
- Spectrolab
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 239 |
| Published | June 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 203.6 million |
| Forecasted Market Value ( USD | $ 364.6 million |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
