Solar energy is a fast growing renewable source of power generation worldwide and is an innovative and dynamic market. The powerful rays of the sun are converted into electricity via solar energy systems and these systems can be installed for residential, industrial, and commercial use. Photovoltaic cells (PV) are the key components of a solar energy system. PV power plants need to be characterized and tested to meet design requirements at both system and component levels in order to ensure the desired long-term performance.
Based on type, the market can be broadly segmented into functional testing, durability testing, performance (efficiency) testing, and certification (safety and compliance) services. In term of application, the market can be classified into balance of systems components, PV modules, and PV systems. PV modules can be further sub-divided into concentrated PV modules and flat panel PV modules.
This report on the global solar testing and characterization market presents an inclusive analysis of drivers and restrictions and estimates the subsequent impact of each of those factors. The report has been prepared with the help of research methodologies such as SWOT Analysis and Porter’s five forces. Among the chief features of the report is the section on company profiles, wherein a number of key players have been considered for their product range, market share, revenue, and recent strategic developments. It also provides insight into the segments and regions of the market.
Global Solar Testing and Characterization Market: Trends and Prospects
High demand for solar power, innovative technologies for solar power generation, and increased need to improve efficiency of solar cells and PV modules are few of the factors driving the global solar testing and characterization market. As numerous companies worldwide are investing in the solar energy industry, to stay ahead of the curve, enterprises and organizations are constantly coming up with innovative ideas to enhance the efficiency of solar cells and restructure the standards for solar power systems.
In addition, due to the penetration of a large number of unauthorized players in the market, it has become more than necessary to check quality and standards, thereby supplementing the need for solar testing and characterization. On the contrary, the growth of the market can be cut short owing to the existence of inconsistent standards and regulations across different countries and regions.
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Global Solar Testing and Characterization Market: Regional Analysis
Geographically, the global solar testing and characterization market can be segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Out of the mentioned regions, North America is known to hold a significant share in the market and is projected to lead during the forecast period as well. Early adoption, technological advancements, reduction in the usage of conventional energy sources, and government initiatives have driven the market growth in this region.
Asia Pacific is another promising region that is pegged to grow over the forecast period owing to a massive dependency on solar energy, high investments by major companies, and growing awareness regarding the use of depleting natural resources for energy.
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