Dallas, TX, June 15, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Solar Simulator Market By Light Source (LED Lamp, Xenon Arc Lamp, UV Lamp, Metal Halide Arc Lamp, And QTH Lamp), By State (Pulsed And Steady State), By Application (UV Testing Of Materials & Products, PV Cell Module & Material Testing, Biomass Study, And Automotive Testing, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Solar Simulator Market size & share in terms of revenue was valued at USD 213.45 million in 2022 and it is expected to surpass around USD 324.69 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.38% during the forecast period 2023 to 2030.”
What is Solar Simulator? How big is the Solar Simulator Industry?
Report Overview:
The global solar simulator market size was worth around USD 213.45 million in 2022 and is predicted to grow to around USD 324.69 million by 2030 with a compound annual growth rate (CAGR) of roughly 5.38% between 2023 and 2030.
A solar simulator is also known as an artificial sun and it performs the role of providing illumination close to the characteristics of natural sunlight. The main purpose of using an artificial sun is to create and provide a controlled indoor facility or unit under laboratory conditions for several end applications. Some of the main uses of solar simulators include testing or materials or processes that exhibit photosensitivity. This includes products such as cosmetic items, sunscreen, solar cells, skin cancer, aerospace materials, water treatment, photosynthesis, and the formation of free radicals. These instruments are subject to certain performance standards, especially the ones used in photovoltaic testing. The standards include IEC 60904-9, ASTM E927-19, and JIS C 8912. There are several types of solar simulators and each type has a specific function to perform. The industry deals with the production and distribution of these solar-energy-mimicking devices.
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Global Solar Simulator Market: Growth Factors
The global solar simulator market is projected to grow owing to the increasing investments toward technological advancements in terms of solar simulator technologies. Industry players or manufacturers are developing more advanced systems that can be used in harsh settings and provide a more efficient response or performance. The new tools can be expected to have wider applications in the research field. Furthermore, the growing emphasis on quality control and requirements of obtaining certificates could deliver high revenue in the industry. The devices have to meet regional regulatory conditions; however, in recent times, governing bodies have created more stringent rules to ensure that the products are safe to use and deliver as per expectations.
The increasing research-based activities in understanding and harnessing solar energy are crucial to the solar simulator industry. With rising investments in exploring and expanding the solar energy sector, the demand for efficient solar simulators is projected to continue growing. A key trend observed in the industry is the declining demand cost of solar simulators with the entry of multiple players offering competitive products. This has made the product available to a larger group of consumers.
However, the global solar simulator industry also deals with specific growth restraints. One of the primary concerns is the requirement of consistent maintenance and calibration to ensure that the device performs efficiently and provides accurate or reliable results. The calibration process involves regular adjustments that match the simulator's output with the desired solar spectrum. This can be a time-consuming task.
Emerging applications may provide growth opportunities while the complications in replicating real-world conditions could challenge market expansion.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 213.45 million |
| Projected Market Size in 2030 | USD 324.69 million |
| CAGR Growth Rate | 5.38% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Newport Corporation, Spire Solar, Spectrolab, Abet Technologies Inc., Endeas Oy, Sciencetech Inc., OAI, Solar Light Company, Inc., Wacom Electric Co., Ltd., Yamashita Denso Corporation, Sinton Instruments, Gsolar Power Co., Ltd., Endeavour Technologies, Nisshinbo Mechatronics, Inc., Solar Light Europe GmbH, PSE AG, PV Measurements, Inc., Endeas Oy, Konica Minolta Sensing Americas, Inc., Iwasaki Electric Co., Ltd., EKO Instruments, Class AAA Solar Simulator, Solar Energy Technology Center, Atonometrics, Inc., and Sciencetech Inc. |
| Key Segment | By Light Source, By State, By Application, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Solar Simulator Market: Segmentation Analysis
The global solar simulator market is segmented based on light source, state, application, and region.
Based on light source, the global market segments are LED lamp, xenon arc lamp, UV lamp, metal halide arc lamp, and QTH lamp. The industry was led by the light-emitting diode (LED) lamp segment since they offer several advantages as compared to the rest of the options available. For instance, LEDs are highly energy efficient as compared to traditional light sources such as xenon arc lamps. They can convert a higher percentage of electricity into light. Moreover, they have a longer lifespan and offer better flexibility in terms of specific control. Additionally, LED lamps provide precise control over light intensity and temporal variations. UV lamps run on Ultra Violet rays and QTH lamp stands for Quartz Tungsten Halogen (QTH) lamps. The maximum theoretical solar efficiency that can be achieved is 86.8% for any solar power generator.
Based on state, the global solar simulator market segments are pulsed and steady state. The industry witnessed the highest growth in the latter segment since these variants can provide a continuous and constant light output that simulates the characteristics of steady sunlight. These instruments are used for a wide range of applications. Some of the advantages include higher stability and compatibility with standard testing protocols. This means that these simulators align with the set of protocols laid down by official agencies for solar devices. Steady-state solar simulators are suitable for longer testing durations, as they can maintain a continuous light output without interruptions. The price range of a standard Photovoltaic (PV) simulator is between INR 1.5 lakhs to 15 lakhs.
Based on application, the global solar simulator market segments are UV testing of materials & products, PV cell module & material testing, biomass study, automotive testing, and others.
The global Solar Simulator market is segmented as follows:
By Light Source
- LED Lamp
- Xenon Arc Lamp
- UV Lamp
- Metal Halide Arc Lamp
- QTH Lamp
By State
- Pulsed
- Steady State
By Application
- UV Testing of Materials & Products
- PV Cell Module & Material Testing
- Biomass Study, and Automotive Testing
- Others
Browse the full “Solar Simulator Market By Light Source (LED Lamp, Xenon Arc Lamp, UV Lamp, Metal Halide Arc Lamp, And QTH Lamp), By State (Pulsed And Steady State), By Application (UV Testing Of Materials & Products, PV Cell Module & Material Testing, Biomass Study, And Automotive Testing, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/solar-simulator-market
Competitive Landscape
Some of the main competitors dominating the global Solar Simulator market include -
- Newport Corporation
- Spire Solar
- Spectrolab
- Abet Technologies Inc.
- Endeas Oy
- Sciencetech Inc.
- OAI
- Solar Light Company Inc.
- Wacom Electric Co. Ltd.
- Yamashita Denso Corporation
- Sinton Instruments
- Gsolar Power Co. Ltd.
- Endeavour Technologies
- Nisshinbo Mechatronics Inc.
- Solar Light Europe GmbH
- PSE AG
- PV Measurements Inc.
- Endeas Oy
- Konica Minolta Sensing Americas Inc.
- Iwasaki Electric Co. Ltd.
- EKO Instruments
- Class AAA Solar Simulator
- Solar Energy Technology Center
- Atonometrics Inc.
- Sciencetech Inc.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Solar Simulator market is likely to expand at a CAGR of around 5.38% during the forecast period (2023-2030).
- In terms of revenue, the Solar Simulator market size was valued at around US$ 213.45 million in 2022 and is projected to reach US$ 324.69 million by 2030.
- The solar simulator market is projected to grow at a significant rate due to the growing demand for solar energy.
- Based on light source segmentation, LED lamp was predicted to show maximum market share in the year 2022.
- Based on application segmentation, PV cell module & material testing was the leading application in 2022.
- On the basis of region, North America was the leading revenue generator in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Solar Simulator industry?
- What are the main driving factors propelling the Solar Simulator Market forward?
- What are the leading companies in the Solar Simulator Industry?
- What segments does the Solar Simulator Market cover?
- How can I receive a free copy of the Solar Simulator Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Light Source, By State, By Application, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
North America is projected to witness the highest growth in the global solar simulator market. The high growth rate may be a result of growing research activities that require the use of solar simulators. Furthermore, the increasing investment toward advancing the instruments by deploying more effective solutions could also assist the North American market to continue its dominance.
In Europe, countries such as Germany, France, the UK, and the Netherlands are expected to generate higher demand for solar stimulators owing to the increasing application in the regional cosmetics industry which is also one of the world’s most valuable industries. Europe is home to some of the largest cosmetic houses such as Loreal. These companies regularly launch new skincare and revolutionary cosmetic products which need to undergo several tests.
In Asia-Pacific, the presence of a large number of solar cell and module manufacturers, research institutes, and testing facilities contributes to the growth of the regional segment.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In April 2021, The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and G2V Optics announced a collaboration in which NREL made use of the G2V Sunbrick™ solar simulator in initial testing of the efficiency of a solar stimulator for multi-junction solar cells
- In December 2020, WAVELABS Solar Metrology Systems GmbH and Aurora Solar Technologies Inc. announced a strategic partnership. The move will assist in integrating the former’s solar cell testers and the latter’s Aurora's InsightTM
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/solar-simulator-market
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