Pyranometer Market: Introduction
Pyranometer is an instrument which is used to measuring the solar radiance on a plane surface Pyranometer also measure the solar flux density from the hemisphere above the wavelength 0.3 to 3 micrometer. An ordinary pyranometer doesn’t require any power to operate, however, recent technological advancement and integration of electronic components in the pyranometers, low external power is required. There are two types of pyranometers including semiconductor or silicon pyranometers and thermopile pyranometers. Silicon or Semiconductor pyranometer uses a photodiode that converts the solar energy into electrical energy, whereas, thermopile pyranometer uses a thermopile detector that converts the thermal energy into electrical energy. Thermopile pyranometers are comparatively expensive than semiconductor pyranometers because these device provide precise solar short wavelength radiation sensors. Due to the relatively high cost of thermopile pyranometers, the sales growth of these pyranometers may be stagnant.
Pyranometer Market: Dynamics
Broadening the scope of application of pyranometers in photography, cinema, lighting technique, meteorology, climatology, climate change research, building engineering physics and in photovoltaic systems is one of the key factors for the growth of pyranometer market over the forecast period. The increasing awareness regarding the uses of renewable energy increases the adoption rate of solar panel installation across the globe. Accurate measurement of solar radiation is required for proper installation and orientation of photovoltaic modules. In hilly areas, where there may be problems of shading, the installation and position of PV module must be handled with care in order to ensure maximum efficiency. Due to increasing demand for an appropriate instrument such as pyranometer, which can measure the solar radiance on the PV module is one of the important factors that can accelerate the growth of the pyranometer market. Moreover, the government initiations regarding the installation of new solar energy generation plants to produce clean and green energy are expected to directly affect the sale of pyranometers which will accelerate the growth of the global market.
The lack of awareness about the importance of pyranometer is the key factor that impedes the growth of the pyranometer market. Besides this, the relatively high cost of thermopile pyranometer may affect the new sales, which is another factor that hamper the growth of the Pyranometer market. Moreover, the use of a higher quality pyranometer is subject to maintenance that has to be performed on the instruments themselves.
Pyranometer Market: Segmentation
Pyranometer market can be segmented by type of protection, by product type and by applications-
On the basis of type of product type, pyranometer market can be further segmented:
On the basis of application, pyranometer market can be further segmented:
Pyranometer Market: Regional Overview
The pyranometer market is expected to grow significantly with the increase in the number of solar energy plant construction projects. Solar panel installation is the main application of a pyranometer. Developed regions such as North America and Western Europe are expected to hold the dominant share in the global pyranometer market due to the high adoption rate of thermopile as well as solar pyranometers. In North America, the U.S. is expected to drive the growth of the market and in Western Europe, EU-5 nations are estimated to hold a prominent share in the pyranometer market. Developing regions such as South Asia and East Asia are projected to grow with the relatively high growth rate over the forecast period due to an increase in solar plant projects in emerging countries of these regions including India, China, and ASEAN. Moreover, Eastern Europe, Latin America, and Middle East & Africa are also estimated to grow with healthy CAGRs over the assessment period.
Pyranometer Market: Market Participants
Examples of some of the market participants identified across the value chain of the global pyranometer market includes:
The Pyranometer market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Pyranometer research report provides analysis and information according to market segments such as geographies, application, and industry.
The Pyranometer market report covers exhaustive analysis on:
Regional analysis includes:
The Pyranometer market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Pyranometer market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Pyranometer market report also maps the qualitative impact of various market factors on market segments and geographies.
Pyranometer market Report Highlights: