GLOBAL SOLAR SIMULATOR MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global Solar Simulator Market, By Light Source (Xenon Arc Lamps, Metal Halide Arc Lamps, LED Lamp, UV Lamp, and Others), By Dimension (Class AAA, Class ABA, Class ABB, and Others), By Application (PV Cell/Module Testing, UV Testing of Materials and Products, Automotive Testing, and Others), By End-use Industry (Solar, Automotive, Materials Testing, Photonics, Optical, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Global Solar Simulator Market Regional Insights

Asia Pacific market is largest market for global solar simulator market, accounting for over 41% of the market share in 2023. The growth of the market in Asia Pacific is due to the rapidly growing production of solar cells and panels and investments in renewable energy in countries like China, Japan and India.
North America is expected to be the second largest market for global solar simulator market during the forecast period, accounting for over 26% of the market share in 2023. The growth of the market in North America is due to the well-established solar industry and increasing investments in research and development (R&D) activities related to solar technologies in the region.
Europe market is expected to be the fastest-growing market for global solar simulator market, with a CAGR of over 19% during the forecast period. The growth of the market in Europe is due to the rising demand for electric vehicles and investments in (R&D) for advanced solar technologies in the region.

Figure 1. Global Solar Simulator Market Share (%), By Region, 2023