According to the newest analysis conducted by Fact.MR with the support of his professional team in the ICT industry, the worldwide solar testing equipment market is expected to expand at a flourishing pace of roughly 11.0 percent CAGR over the assessment period (2021-2031).
The growing worldwide energy sector is a positive indicator for the global solar testing equipment market, which will likely focus on on-demand during the coming decade. The growth trajectory of the solar testing equipment market is expected to be supplemented by increased investment in renewable energy sources and the construction of the solar grid.
What factors are influencing the need for solar testing equipment?
Energy-related CO emissions are dwindling, which is at the heart of the energy shift. If the world is to meet the Paris-agreed environmental goals, it must move quickly away from the usage of petroleum derivatives that cause environmental change and toward cleaner, limitless kinds of energy. This shift to renewable energy resources is being fueled by a number of factors.
Air pollution is a major public health issue that is primarily caused by unregulated, wasteful, and polluting fuel sources (for example petroleum product ignition, compound-related discharges).
Regional Forecasts for Solar Testing Equipment
In terms of regional breakdown, MR research on “Solar Testing Equipment Market” focuses on six important regions: North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa. Among them, North America takes the lead, accounting for a larger revenue share of the worldwide solar testing equipment market during the study period.
According to the US Department of Energy, the solar-powered market in the United States has outperformed 100 gigawatts (GW) of installed electric-producing capacity, more than doubling the size of the industry during the last 3.5 years. Solar energy-oriented had a historic Q1 2021, according to the Solar Energy Industries Association (SEIA) and Wood Mackenzie, accounting for 58 percent of all new electric limit increments in the United States.
In Q1, sustainable power accounted for nearly all new electric limits (nearly 100 percent). During the projection period, this will also open up various market prospects for solar testing equipment.
The gap between observed outflows and predicted reductions to satisfy globally agreed-upon environmental goals is widening.
To reach the targets of the Paris Agreement, which aim to restrict the rise in average global temperatures to less than 1.5 degrees Celsius (°C) in the current century, compared to pre-mechanical levels, the global energy framework must shift at a rapid pace. In comparison to current levels, a 70% reduction in energy-related outflows would be required by 2050. (IRENA, 2019a).
Impact of Covid-19
The perspective on solar-based energy generation has shifted dramatically as a result of the COVID-19 outbreak. The company has employed 188,000 workers through June 2020, down from the previous estimate of 302,000 – a 38 percent reduction. These disasters would undo five years of progress in the solar energy industry, bringing the labour force back to levels not seen since 2014.
In Q2 2020, the United States will introduce only 3 gigawatts (GW) of sun-oriented limit, a 37 percent reduction from pre-COVID forecasts. The Q2 solar-based arrangement losses are equivalent to enough energy to power 288,000 homes and $3.2 billion in financial speculation.
Who are the major participants in the market for solar testing equipment?
- TÜV RHEINLAND
- SGS SA
- TEKTRONIX Inc.
- SolarEdge Technologies Inc.
- Newport Corporation
- Keysight Technologies
- National Instruments
- Aescusoft GmbH Automation
- By Type
- Functional Testing
- Performance (Efficiency) Testing
- Durability Testing
- Certification (Safety and Compliance) Services
- By Application
- PV Modules
- Balance Of Systems Component
- PV Systems
- Flat Panel PV Modules
- Concentrated PV Modules
- By Region
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- South Africa
- Other Africa
- North America
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