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Pyranometer Market

Pyranometer Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product Type and, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

SE : Semiconductors

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Author's: | Sonia Mutreja
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Pyranometer Market Outlook - 2030

Pyranometer is a type of an actinometer that measures the irradiance of solar energy as well as the flux density of solar radiation at a certain place. Solar radiation has a wavelength range of 300 to 2800 nm. It is used in calculating data on solar intensity, studying climatology and meteorology, designing of PV systems, determination of the greenhouse's location, and predicting the insulation requirements for building structures.

Pyranometers are divided into two categories, semiconductor or silicon pyranometers and thermopile pyranometers. A photodiode turns solar energy into electrical energy in a silicon or semiconductor pyranometer, whereas a thermopile detector converts heat energy into electrical energy in a thermopile pyranometer. All these factors are assisting the growth of pyranometer market globally.

The global pyranometer market is segmented on the basis of type, end use, and region. Based on type, the market is divided into photovoltaic pyranometers and thermopile pyranometers. In terms of end use, the market is categorized into building engineering physics, meteorology, photovoltaic systems, photography, climatology, cinema, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global pyranometer industry include The Eppley Laboratory, Inc., HUKSEFLUX, Kipp & Zonen B.V., LI-COR, Hoskin Scientific, Inc., EKO Instruments B.V., Apogee Instruments, Inc., Delta-T Devices Ltd., Campbell Scientific, Inc., Adcon Telemetry, Caipos. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global pyranometer market.

COVID-19 impact analysis

The COVID-19 pandemic has slowed the growth of several sectors, including automobiles, oil & gas, and others. The constant rise in the number of virus-infected people has prompted governments to impose restrictions on people and commercial traffic.

Manufacturing and construction sectors, schools, educational institutions, retail malls, and office buildings have all had their operations temporarily halted, resulting in decreased air pollution. Factory shutdown and border closures have disrupted manufacturing, distribution, and sales in a variety of industries, ultimately halting the operations. All these factors are limiting the growth of pyranometer market share globally.

Top Impacting Factors

One of the key factors driving the he pyranometer market during the forecast period is the expansion of the scope of application of pyranometers in photography, cinema, lighting technique, meteorology, climatology, climate change research, building engineering physics, and photovoltaic systems. Solar panel installation is becoming more popular throughout the world as people become more aware of the benefits of renewable energy.

The lack of knowledge regarding the significance of pyranometers is a major restraining factor of the pyranometer industry. In addition, the relatively high cost of thermopile pyranometers may have an impact on new sales of pyranometers, which is another factor restraining the pyranometer market.

Surge in awareness regarding renewable energy usage

Government initiatives to build new solar energy production facilities to create clean and green energy are projected to have a direct impact on pyranometer sales, accelerating the global market growth.

For instance, on June 2021, Togo, a city in West Africa, opened the largest solar plant in West Africa, as part of an effort to expand power access and promote renewable energy in the small coastal country. Pyranometers are used to monitor the performance of photovoltaic (PV) power plants in the solar energy industry.

The efficiency of a PV power plant may be measured by comparing the actual power production from the PV power plant to the predicted output based on a pyranometer reading. Drops in efficiency might signal that the PV plant needs to be maintained.

Key Benefits of the Report

  • This study presents the analytical depiction of the pyranometer market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the pyranometer market trends.
  • The current market is quantitatively analyzed to highlight pyranometer market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the pyranometer market.
  • The report provides a detailed pyranometer market analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Pyranometer Market Report

  • Which are the leading players active in the pyranometer market size?
  • What are the detailed impacts of COVID-19 on the market?
  • What current trends will influence the pyranometer industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?

Pyranometer Market Report Highlights

Aspects Details
By Product Type
  • Semiconductor/Silicon Pyranometer
  • Thermopile Pyranometer
By Application
  • Photovoltaic Systems
  • Building Engineering Physics
  • Climatology
  • Cinema
By Region
  • North America  (U.S., Canada)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Rest of LAMEA)
Key Market Players

LI-COR, Inc., HUKSEFLUX, Delta-T Devices Ltd., Campbell Scientific,Inc, The Eppley Laboratory, Inc., Apogee Instruments, Inc., Kipp & Zonen B.V., EKO Instruments B.V., Adcon Telemetry, Hoskin Scientific

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Pyranometer Market

Global Opportunity Analysis and Industry Forecast, 2023-2032