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Solar Testing and Characterization Market Is Expected to Rise at a Remarkable CAGR by 2024

Transparency Market Research Report Add "Solar Testing and Characterization Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024" to its database.


Albany, NY -- (SBWIRE) -- 02/17/2017 -- Solar energy is a global, dynamic, and innovative market. Under the solar energy system, the rays of sun are converted into electricity. Solar energy is a rapidly growing renewable source of power generation across the globe. Solar energy systems can be installed at residential, commercial, and industrial facilities for off-grid power generation. Electricity can also be produced through solar energy at utility scale through solar power plants. Photovoltaic cells (PV) are the major components of the solar energy system. PV power plants need to be tested and characterized to meet design requirements at both the component and systems level in order to ensure the desired long term performance. A good understanding of test and characterization techniques and equipment is required in the area of solar PV modules, Balance of Systems Components, and PV systems.

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The global solar testing and characterization market can be segmented based on type, application, and geography. In terms of type, the market can be broadly divided into the following categories: functional testing, performance (efficiency) testing, durability testing, and certification (safety and compliance) services. Based on application, the global solar testing and characterization market can be broadly segmented into PV modules, Balance of Systems components, and PV systems. PV modules can be further sub-segmented into flat panel PV modules and concentrated PV modules.

The solar testing and characterization market is driven by factors such as increase in demand for solar power, innovative technologies for solar power generation, and rise in need to improve efficiency of solar cells and PV modules. Various companies across the globe are investing significantly in the solar energy industry. Thus, companies and organizations are striving to come up with innovative methods to improve the efficiency of solar cells and streamline the standards for solar power systems. The high number of unauthorized players operating in the solar energy industry has also increased the demand for quality and efficiency checks and standards. This, in turn, is expected to drive the global solar testing and characterization market during the forecast period. However, presence of inconsistent standards and regulations across different countries and regions is anticipated to hamper market growth.

In terms of geography, the solar testing and characterization market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The U.S. and Canada are estimated to propel the solar testing and characterization market in North America. The U.K., Germany, France, Russia, Spain, Italy, and Sweden are the leading countries for the solar testing and characterization market in Europe. China, South Korea, Japan, India, Thailand, the Philippines, Malaysia, and Singapore are likely to dominate the solar testing and characterization market in Asia Pacific, with China being a rapidly developing country. Israel, Turkey, the UAE, Iran, Egypt, Nigeria, Kenya, and Saudi Arabia are some of the leading countries in the market in Middle East & Africa. The solar testing and characterization market Latin America is dominated by Brazil, Mexico, and Argentina.

The global solar testing and characterization market comprises numerous companies operating at the regional and global level. Key players include TÜV RHEINLAND, National Instruments, SGS SA, Newport Corporation, Keysight Technologies, SolarEdge Technologies Inc., Aescusoft GmbH Automation, TEKTRONIX, Inc., and Jabil.

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