Solar Radiation Measurement Solutions Market Size (2024 –2030)

The Global Solar Radiation Measurement Solutions Market was estimated to be worth USD 2.13 Billion in 2023 and is projected to reach a value of USD 3.31 Billion by 2030, growing at a steady CAGR of 6.5% during the outlook period 2024-2030.

Measuring solar radiation involves figuring out how much light makes it to the surface of the Earth. Numerous applications, such as managing water resources, maximizing solar energy systems, predicting the weather, tracking the climate, assisting with agriculture, producing electricity, and assisting with telecommunications, depend on this measurement. Meteorology, wind energy assessment, data collection, solar energy optimization, water resource management, and other fields all make use of solar radiation data. A variety of instruments, including mobile, stationary, and multipurpose ones, are used to measure solar radiation. The quantity and quality of solar radiation are influenced by local terrain, weather, time of day, and location. Scientists can track environmental changes, study variations in Earth's temperature, and create efficient solar energy systems by measuring solar radiation.

Key Market Insights:

About 25% of the market is made up of pyrheliometers, whereas pyrranometers generate about 60% of the market's total revenue.A high-quality pyranometer can cost anywhere from $1,500 to $3,000 on average, depending on its features and accuracy class.An estimated 200,000 units of solar radiation measurement sensors are shipped globally each year for use in a variety of applications.In the solar radiation measurement solutions market, the top 3 manufacturers have a combined market share of more than 50%.

Global Solar Radiation Measurement Solutions Market Drivers:

The growing environmental consciousness is thought to be the reason behind the rising demand for solar radiation measurement solutions.

The need for solutions to mitigate the negative environmental effects of air pollution and climate change is growing. Systems for measuring solar radiation can be useful because they give precise data on the amount of sunlight that reaches the surface of the Earth. Understanding how air pollution and climate change impact solar radiation levels is crucial for environmental mitigation and protection initiatives. This data helps with that understanding. We can track how climate change affects sunlight by measuring solar radiation, which aids in identifying regions that require climate action.

The following advancements in device technology are driving the market for solar radiation measuring solutions.

The precision, security, and user-friendliness of solar radiation monitoring have increased due to advancements in detectors, software, communication technologies, and measurement systems. Even under difficult circumstances, new detector technologies can measure solar radiation with accuracy. Additionally, software tools have advanced, making it possible to instantly analyze and retrieve data on solar radiation. These instruments offer insightful information about how solar energy systems, such as solar thermal and solar panels, operate.

Solar Radiation Measurement Solutions Market Challenges and Restraints:

Measurements of solar radiation can be impacted by several environmental factors, including temperature, humidity, precipitation (such as rain or snow), dust, aerosols (tiny particles in the air), clouds, and dust. The accuracy and dependability of measurements of solar radiation can be decreased by these factors, which can introduce errors or uncertainties in the data. Because clouds can be hard to predict due to their variety in types, thicknesses, heights, and coverage, they present a special challenge. Dust, smoke, and pollen are examples of aerosols that can either reflect or absorb solar light, affecting how much sunlight reaches the surface of the Earth. Humidity has an impact on the absorption and scattering of solar radiation, particularly in the ultraviolet and infrared regions. Temperature affects air pressure and density, which in turn affects how light from the sun is scattered and refracted. The quantity and quality of solar radiation that reaches the Earth's surface can also be changed by precipitation, such as rain or snow. The measurement of solar radiation can be greatly impacted by these environmental factors.

Solar Radiation Measurement Solutions Market Opportunities:

There are lots of exciting prospects for development and innovation in the market for solar radiation measurement solutions. To increase the precision and dependability of solar radiation measurements and support applications like weather forecasting and solar energy optimization, one important opportunity is to advance sensor and detector technology. By combining these solutions with machine learning (ML) and artificial intelligence (AI), data analysis can be improved, and solar energy systems can be optimized for higher efficiency. There is unrealized potential in growing into developing regions where solar energy adoption is increasing, such as Asia-Pacific and Latin America. Furthermore, there is a growing need, particularly in the environmental and agricultural sectors, for portable and user-friendly solar radiation monitoring equipment. The solar radiation measurement industry can increase its market reach and application diversity by creating solutions that are both affordable and simple to use.

SOLAR RADIATION MEASUREMENT SOLUTIONS MARKET REPORT COVERAGE:

Global Solar Radiation Measurement Solutions Market Segmentation: By Type

• Portable

• Stationary

• Multi-function

The market for solar radiation measurement solutions is divided into several segments according to equipment types and applications. The need for precise weather forecasting and climate monitoring has made the meteorological detection segment dominant. Because of the rising demand for solar energy and the requirement for effective solar power systems, the solar energy detection market is the one that is expanding the fastest. Other significant market segments include data collection, wind energy detection, and water detection. The need for portable solar radiation monitoring devices from sectors like meteorology and agriculture is predicted to fuel the portable segment's explosive growth. These lightweight instruments, like pyranometers and handheld meters, are appropriate for field research and measurements. The stationary segment, which offers constant solar radiation monitoring in fixed locations like solar power plants, continues to be the largest in the meantime. Although they offer great precision, stationary systems need more upkeep. Due to their specialized functions, multi-function solutions—which measure solar radiation in addition to other environmental factors—are also expected to grow moderately. They are used in research applications.

Global Solar Radiation Measurement Solutions Market Segmentation: By Application

• Meteorological detection

• Solar energy detection

• Water detection

• Data collection

• Wind energy detection

• Others

Due to the growing demand for precise solar energy measurements for weather forecasting and climate monitoring, the meteorological detection segment leads the market for solar radiation measuring systems. This section gives important details about solar radiation resources and how they affect different weather phenomena, with a focus on using measurements of solar radiation for meteorological applications such as climate modeling, atmospheric research, and weather prediction. Due to the growing demand for solar energy and the requirement for precise solar radiation monitoring to improve the efficiency of solar energy systems, the solar energy detection segment of the solar radiation measuring systems market is expanding quickly. To optimize solar energy systems like photovoltaic (PV) or concentrating solar power (CSP) systems, this segment involves using solar radiation measuring tools for solar energy applications like site assessment, system design, performance evaluation, and quality control. Other market segments include data collection, which makes use of these solutions to collect data, and water detection, which uses solar radiation measurements for water-related purposes. Similar to this, solar radiation measurements are used for wind energy applications in the wind energy detection segment. A variety of applications that do not fit into the aforementioned categories are included in the "other" segment.

Global Solar Radiation Measurement Solutions Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

Due to the extensive use of solar energy systems and the presence of significant suppliers of solar radiation monitoring technologies, North America leads the world market for measuring solutions for solar radiation. Numerous solar radiation measuring stations can be found in North America, and these stations offer accurate data for a range of uses, including climate research, solar energy optimization, and weather forecasting. The market for solar radiation measuring devices is expanding at the fastest rate in the Asia-Pacific area. The expansion of renewable energy sources, the growing use of solar energy systems, and the requirement for precise solar radiation measurement are the main drivers of this growth. To optimize the performance and efficiency of solar energy systems, advanced and trustworthy solar radiation measurement solutions are needed.

COVID-19 Impact on the Global Solar Radiation Measurement Solutions Market:

The COVID-19 pandemic has affected the global market for solar radiation monitoring systems in both positive and negative ways. The industry has suffered from supply chain interruptions, a decline in the market for solar energy systems, and project delays. But these days, renewable energy and sustainability are getting more attention, which has opened up new business prospects. Delivery delays of solar radiation monitoring systems have been caused by supply chain disruptions, impeding market expansion. However, the pandemic's increased focus on sustainability and renewable energy has opened up new markets for companies that manufacture solar radiation monitoring apparatus. The importance of remote monitoring technologies has increased because they minimize the need for maintenance and on-site visits while also lowering the risk of virus transmission.

Latest Trend/Development:

There are notable developments and trends in the solar radiation measurement solutions market that are meant to improve accessibility, efficiency, and accuracy. The adoption of cutting-edge sensor technologies, which provide accurate measurements of solar radiation even in difficult environmental conditions, is one important trend. The robustness and sensitivity of these sensors are increasing, which helps with better data collection. The incorporation of artificial intelligence (AI) and data analytics into solar radiation measurement systems is another noteworthy development that has allowed for insights into solar energy production and environmental effects. A growing number of people are using cloud-based solutions, which make it easier to monitor and analyze solar radiation data in real-time from far-off places. Furthermore, advances in communication technologies are facilitating remote management of solar energy systems, increasing reliability, and strengthening connectivity between measurement devices and centralized systems.

Key Players:

1. Kipp & Zonen

2. Hukseflux

3. Apogee Instruments

4. EKO Instruments

5. Delta-T Devices

6. Campbell Scientific

7. Eppley Laboratory

8. Solar Light Company

9. Skye Instruments

10. Biral

Market News:

• A US-based company called Geneverse, which specializes in cutting-edge home solar power solutions, made its European debut at the prestigious international event called Smarter E Europe 2023 expo in June 2023. The event was focused on renewable energy. Professionals from the industry, innovators, and enthusiasts come together at this expo to talk about the newest developments in renewable energy technologies. Geneverse wants to completely transform the solar energy market in Europe and open up solar energy to more people.

• Global leader in environmental, industrial, and meteorological measurements Vaisala unveiled the Automatic Meteorological Station AWS810 Solar Edition in June 2023.