New Report Indicates Solar Simulator Market Will Hit $364.6 Million by 2031

Solar Simulator Market

According to a new report published by Allied Market Research, 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. This mirrors the growth of the whole solar industry, which is expected to not reach its peak until 2050.

Solar Simulator Market
Solar Simulator Market

What is Solar Simulation

A solar simulator, also known as a 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. The pulsed solar simulator may be a single pulse or multi-pulse solar simulator. 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 solar cells, modules, materials & products, automotive testing, textile, biomass study, and other indoor testing facilities for R&D purposes.

Solar Simulator Manufacturers

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 the performance parameters of the products or materials from the above-mentioned industries, which in turn drives the growth of the solar simulator market during the forecast period. In addition, the increase in demand for solar products from developing economies such as India, China, and Japan fuels the growth of the market globally. However, the high cost associated with solar simulators and disadvantages such as high-power consumption, high electronic drive costs, and short life cycles is the key factors expected to hamper the global solar simulator market growth in the upcoming years. 

Solar Simulator Market Share

Depending on the 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 the rising demand for pulsed solar simulators from PV module testing and other applications. In addition, an increase in demand for rapid & accurate measurement of electrical power output, characteristics of PV cells, modules, and solar panels for manufacturing standard products is further expected to fuel the market’s growth in the coming years. 

Solar Simulator Technology Winners & Losers

Based on the light source, the xenon arc lamp segment holds the largest revenue share and is expected to maintain its dominance during the forecast period. This growth is attributed to a rise in demand for xenon arc lamp-based solar simulators owing to their ability to produce stable spectral equal to the sunlight without filtering from various applications, including testing PV cells or module applications. In addition, the increase in the use of xenon arc lamp-based solar simulators owing to advantages 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.

Based on 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, the rise in demand for solar panels to energize home appliances such as lights and pumps raises 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.

Solar Simulator Market Growth By Region

Based on region, the market is analyzed across four major regions: North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2021 and is anticipated to maintain this dominance in the solar simulator market trend during the forecast period. This is attributed to the presence of key players and a substantial regional consumer base. In addition, the rapid expansion of the renewable energy sector, a rise in investment toward building & construction of renewable energy infrastructure, and an increase in research & development efforts in the region are further anticipated to fuel the market growth in the upcoming years.

Solar Simulator Companies Reviewed

The global solar simulator market analysis covers in-depth information on the significant solar simulator industry participants. The report’s key players operating and profiled 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.

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Mikki Smith

Mikki is a graduate of Indian River State College and currently living and working in Isreal as a developer of AI chatbots for the travel industry. She writes part-time and is working on her first book about chatbot development.

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