Solar simulators are devices that simulate the solar spectrum and intensity that help determine the performance of photovoltaic cells and solar panels. The devices find widespread application in testing and calibrating solar panels and modules prior to field installation. They help identify manufacturing defects and optimize conversion efficiency. The global solar simulator market growth can be attributed to increasing investments in solar power generation worldwide owing to supportive government policies and rising concerns over greenhouse gas emissions. The global solar simulator market is estimated to be valued at US$ 408.4 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The integration of artificial intelligence in solar simulator technology is emerging as a key trend in the market. AI helps enhance the accuracy and reproducibility of solar simulator testing. It enables automated data collection, analysis, fault detection and performance benchmarking of solar panels against standardized tests. This reduces manual errors and effort. AI-powered solar simulators can also be utilized for remote monitoring and calibration of field-installed panels. With AI improving efficiency and lowering operational costs, its adoption in solar simulators is increasing. Leading manufacturers are focusing on AI-enabled solutions to drive further innovation and market growth over the forecast period.
SWOT Analysis
Strength: Solar simulators allow for testing and development of solar products without requiring access to natural sunlight. This provides flexibility for R&D testing activities.
Weakness: Initial capital investment required for setup of solar simulators can be high. Maintenance costs are also involved.
Opportunity: Growing demand for solar energy provides opportunities for expansion of solar simulator market as continuous R&D is required for developing advanced solar products.
Threats: Solar simulator technology needs regular upgradation to replicate natural sunlight conditions accurately. This poses challenges for companies.
Key Takeaways
The global Solar Simulator market share is expected to witness high growth. Regional analysis comprises
The Asia Pacific region currently dominates the global solar simulator market and is expected to continue its dominance over the forecast period. This can be attributed to presence of leading solar panel manufacturers in countries such as China and availability of government support for solar energy adoption. Countries such as India are also emerging as major markets and witnessed fastest growth over the past few years.
Key players operating in the solar simulator market are ABET Technologies, Asahi Spectra, Iwasaki Electric, Meyer Burger Technology, Newport Corporation, Gsolar Power, OAI, Nisshinbo, Sciencetech, Endeas Oy, Solar Light Company, Spectrolab, Eternalsun Spire, WASAKI Electric, ETS Solutions Asia, Spire Solar, Caeleste, AESCO Telecom, Eternal Sun, Class One Equipment. The key players are focusing on new product launches and partnerships to strengthen their market position. For instance, ABET Technologies recently launched SOLSIM X4 solar simulator to meet testing standards for bifacial PV modules.
Growing emphasis on renewable energy adoption and continuous development of solar technologies is expected to drive the demand for solar simulators over the forecast period from 2023 to 2030. The global solar simulator market size is projected to reach US$ 670.6 Mn by 2030.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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