The global solar simulator market size was US$ 203.6 million in 2021. The global solar simulator market size is forecast to reach US$ 338.1 million by 2030, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.
A solar simulator is a device that mimics natural sunlight (sometimes referred to as an artificial sun). Using the solar simulator, a controlled indoor testing environment is created that may be utilized to assess solar cells, sunscreen, polymers, and other materials and technologies in controlled lab environments. A light source, associated power supply optics, and filters that alter the output beam to satisfy classification standards make up the three primary components of a solar simulator.
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Factors Influencing Market Growth
The increase in demand for UV protection testing devices, such as solar simulators from industries, including healthcare, pharmaceutical, environmental science, and others, drives the global market.
The increased cost of solar simulators may slow down the overall market growth.
The growing government initiatives and investment toward research & development in different end-use sectors to present new products or for testing goals in the indoor lab facilities are forecast to offer lucrative opportunities for the global market.
The rise in demand for solar simulators for research & development of cosmetics, paints & coatings testing, environmental science, and others boosts the global market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. The COVID-19 pandemic-related lockdown caused a temporary ban on the production, processing, and import/export across numerous industries, which reduced the need for testing parts from the solar, healthcare, automotive, chemical, and other industries. The development of the solar simulator market was further affected by the suspension of solar energy power plant construction due to a lack of laborers and an expansion of the demand-supply imbalance during the pandemic period. Due to this, market growth in 2020’s second, third, and fourth quarters fell.
The COVID-19 vaccination program started in many economies around the world in the second quarter of 2021, which helped the global economy and led to a recovery in the market for solar simulators.
Regional Insights
The Asia Pacific region accounted for a substantial market share in 2021 and is forecast to maintain its dominance over the forecast period. As a result of the existence of leading participants and a massive consumer base in the region. In addition, the growing development of the renewable energy sector, increase in investment toward building & construction of renewable energy infrastructure, and growing R&D efforts in the region drive the market.
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Leading Competitors
The leading prominent companies profiled in the global solar simulator market are:
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
Other Prominent Players
Scope of the Report
The global solar simulator market segmentation focuses on Type, Light Source, Application, and Region.
Segmentation based on Type
Steady State
Pulsed
Segmentation based on Light Source
Xenon Arc Lamp
Metal Halide Arc Lamp
UV Lamp
QTH Lamp
LED Lamp
Segmentation based on Application
PV Cell Module and Material Testing
UV Testing of Materials and Products
Automotive Testing
Biomass Study
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Table of Content
Chapter 1: Global Solar Simulator Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Solar Simulator market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Solar Simulator Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Solar Simulator market Size Forecast (2023-2031).
Continue….
Key questions answered in the Market are:
What is the consumer buying behaviors and preferences in the market?
What are the key success factors and critical considerations for market entry or expansion?
What are the potential risks and challenges for market participants?
What are the investment opportunities and potential returns in the market?
What are the market segmentation strategies and target market identification?
What are the marketing and advertising strategies employed by successful market players?
What are the market entry barriers and competitive intensity?
What are the market forecasts and projections for the future?
What are the recommended strategies for market participants to achieve success?
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