Global Solar Testing and Characterization Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at 16.5% through 2019 to 2027, reaching nearly US$ XX Bn.
Global Solar Testing and Characterization Market
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The basic unit of all technology for solar electricity is the PV (Photovoltaic Cell). PV power plants need to be testing and characterization to meet design necessities at both component and system levels to confirm the desired long-term performance. Solar cell characterization techniques and instruments allow users to understand factors affecting performance and assess device performance.
The global solar testing and characterization market is estimated to witness lucrative growth over 2019-2027, thanks to the growing demand for solar energy. The increased need to recover the efficiency of PV modules & solar cells, and development in technologies for solar power generation, are driving the global solar testing and characterization market. Companies in energy generation are integrating energy storage with a system that will boom the adoption of renewable energy in hybrid systems. This will help in poisoning the alternating nature of solar energy. However, the global solar testing and characterization market is hampered by the existence of inconsistent regulations and standards through different economies.
Based on applications, the PV Modules segment was valued at US$ XX Mn. in 2019 and is expected to reach a value of US$ XX Mn. by 2027, with a CAGR of XX%. Rising investment towards renewable energy development will considerably impact the solar testing and characterization market growth. Favorable government events with incentives have been introduced to promote the adoption of many renewable technologies like solar PV. For example, in 2019, the government of the U.S. introduced solar tax credit, which reduces the cost of solar energy system installation by 30%. Likewise, the MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the solar testing and characterization market size.
The scope of the report also includes a detailed study of regional and country-wide markets for solar testing and characterization with the reasons given for variations in the growth of the industry in certain regions. In this market, APAC is anticipated to register the fastest XX% CAGR during 2019-2027, thanks to rising awareness about the uses of reducing natural resources for energy. Supportive regulations and norms for the growth of renewable infrastructure will increase the development of clean energy in China. Solar testing and characterization in China have witnessed phenomenal growth over the previous years. China has various solar farms with the world’s largest floating farm that produce 40 MW of electricity. Additionally, the country accounts for a leading position in solar PV panel exports to the globe.
Solar PV Installation Capacity by Countries- 2019-2020 (in GW)
Global Solar Testing and Characterization Market1
The research study includes the profiles of leading companies operating in the solar testing and characterization market globally. Newport Corporation Company provides numerous predesigned systems and solutions for PV solar cell testing. Oriel’s QE and I-V test stations are prominent market instruments for testing and characterization of solar cells.
The objective of the report is to present a comprehensive analysis of the Global Solar Testing and Characterization Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Solar Testing and Characterization Market dynamics, structure by analyzing the market segments and projects the Global Solar Testing and Characterization Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Solar Testing and Characterization Market make the report investor’s guide.
Scope of the Global Solar Testing and Characterization Market
Global Solar Testing and Characterization Market, By Type
- Functional Testing
- Performance efficiency testing
- Durability testing
- Certification Services
Global Solar Testing and Characterization Market, By Application
- PV Modules
o Flat Panel PV modules
o Concentrated PV modules
- Balance of Systems components
- PV Systems
Global Solar Testing and Characterization Market, By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Key players operating in the Global Solar Testing and Characterization Market
- TUV RHEINLAND
- SGS SA
- TEKTRONIX Inc.
- SolarEdge Technologies Inc.
- Newport Corporation
- Keysight Technologies
- National Instruments
- Aescusoft GmbH Automation
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