The Asia Pacific pyranometer market was valued at US$ 25.08 million in 2022 and is expected to reach US$ 54.66 million by 2030; it is estimated to grow at a CAGR of 10.2% from 2022 to 2030.
Growing Application of Pyranometers in Agriculture Industry Fuels the Asia Pacific Pyranometer Market
Pyranometers are being used in a wide range of applications in the agriculture industry. Pyranometers are used in agriculture to measure solar radiation levels for crop growth and yield prediction. Pyranometers are often used in agriculture to determine the amount of solar radiation absorbed by crops and soil. The information is critical because it allows farmers to calculate the energy available for photosynthesis (it is the process through which plants turn sunlight into energy, allowing them to grow and thrive). Pyranometers can assist farmers in identifying agricultural problems before they become severe. For example, a pyranometer reading can determine if a crop is not receiving appropriate solar radiation, encouraging the farmer to take action to improve the situation.
Similarly, if a crop receives excessive solar radiation, the farmer can take action to minimize the amount of radiation received. Such features of the pyranometer assist farmers in optimizing crop growth and increasing crop output and quality. Pyranometers are great tools for increasing crop yield and quality. They also assist farmers in optimizing fertilizer use and water use, which helps to reduce harmful environmental effects. Thus, the rising application of pyranometers in agriculture is driving the growth of the pyranometer market.
Asia Pacific Pyranometer Market Overview
Asia Pacific (APAC) is experiencing a remarkable surge in the solar energy sector owing to the establishment of new photovoltaic power plants in Mongolia, China, India, and other countries. Increasing awareness regarding the importance of clean energy in developing nations has fueled the development of solar panels, thereby boosting the adoption of pyranometers as they are crucial for accurately measuring solar radiation and optimizing solar energy generation.
For instance, in September 2023, the Mongolian government, in collaboration with the Asian Development Bank, inaugurated a 10 MW photovoltaic power plant in Mongolia. This plant is expected to produce 20 million kW-hours of energy annually. To achieve this goal, pyranometers are likely to be employed to provide precise readings of solar radiation, ensuring maximum energy output from the solar panels. In June 2023, China's Kela photovoltaic (PV) power station stood as a testament to the region's commitment to clean energy. This high-altitude facility, combining solar and hydropower, highlights the growing importance of reliable solar energy production. Pyranometers play a pivotal role in aiding in the efficient generation of clean energy as they help measure solar irradiance.
In addition, advancements in pyranometer technology have bolstered the solar energy industry in APAC. In August 2022, EKO Instruments introduced the MS-80SH, an innovative addition to its MS-80 series of Class A pyranometers. This device incorporates an integrated dome heating system to resist dew and frost, ensuring consistent performance in photovoltaic system monitoring and scientific research. Its low power consumption of under 1.4W is an industry-leading efficiency feature. APAC is witnessing a surge in the solar energy sector, driven by the establishment of photovoltaic power plants and the increasing awareness of clean energy. Pyranometers are a major growth factor, facilitating accurate solar radiation measurements and contributing to the region's transition towards sustainable energy sources. Additionally, advancements in pyranometer technology are further enhancing the overall efficiency and performance of solar energy systems in the region.
Asia Pacific Pyranometer Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Pyranometer Market Segmentation
The Asia Pacific pyranometer market is segmented into type, application, and country.
Based on type, the Asia Pacific pyranometer market is bifurcated into photovoltaic pyranometers and thermopile pyranometers. The thermopile pyranometers segment held a larger share in 2022.
In terms of application, the Asia Pacific pyranometer market is categorized into photovoltaic systems, meteorology, and climate stations. The photovoltaic systems segment held the largest share in 2022.
Based on country, the Asia Pacific pyranometer market is China, South Korea, Japan, Australia, India, and the Rest of Asia Pacific. China dominated the Asia Pacific pyranometer market in 2022.
Apogee Instruments Inc, Campbell Scientific Inc, Delta OHM SRL, Delta-T Devices Ltd, EKO Instruments Co Ltd, Hukseflux Thermal Sensors BV, LI-COR Inc, and OTT HydroMet Corp are some of the leading companies operating in the Asia Pacific pyranometer market.
Asia Pacific Pyranometer Strategic Insights
Strategic insights for the Asia Pacific Pyranometer provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
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Asia Pacific Pyranometer Report Scope
Report Attribute
Details
Market size in 2022
US$ 25.08 Million
Market Size by 2030
US$ 54.66 Million
Global CAGR (2022 - 2030)
10.2%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Type
Photovoltaic Pyranometers and Thermopile Pyranometers
By Application
Photovoltaic Systems
Meteorology
Climate Stations
Regions and Countries Covered
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
Market leaders and key company profiles
Apogee Instruments Inc
Campbell Scientific Inc
Delta OHM SRL
Delta-T Devices Ltd
EKO Instruments Co Ltd
Hukseflux Thermal Sensors BV
LI-COR Inc
OTT HydroMet Corp
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Asia Pacific Pyranometer Regional Insights
The geographic scope of the Asia Pacific Pyranometer refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Identical Market Reports with other Region/Countries
The List of Companies - Asia Pacific Pyranometer Market
1. Apogee Instruments Inc
2. Campbell Scientific Inc
3. Delta OHM SRL
4. Delta-T Devices Ltd
5. EKO Instruments Co Ltd
6. Hukseflux Thermal Sensors BV
7. LI-COR Inc
8. OTT HydroMet Corp
Frequently Asked Questions
How big is the Asia Pacific Pyranometer Market?
The Asia Pacific Pyranometer Market is valued at US$ 25.08 Million in 2022, it is projected to reach US$ 54.66 Million by 2030.
What is the CAGR for Asia Pacific Pyranometer Market by (2022 - 2030)?
As per our report Asia Pacific Pyranometer Market, the market size is valued at US$ 25.08 Million in 2022, projecting it to reach US$ 54.66 Million by 2030. This translates to a CAGR of approximately 10.2% during the forecast period.
What segments are covered in this report?
The Asia Pacific Pyranometer Market report typically cover these key segments-
Type (Photovoltaic Pyranometers and Thermopile Pyranometers)
What is the historic period, base year, and forecast period taken for Asia Pacific Pyranometer Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Pyranometer Market report:
Historic Period : 2020-2021
Base Year : 2022
Forecast Period : 2023-2030
Who are the major players in Asia Pacific Pyranometer Market?
The Asia Pacific Pyranometer Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
Apogee Instruments Inc
Campbell Scientific Inc
Delta OHM SRL
Delta-T Devices Ltd
EKO Instruments Co Ltd
Hukseflux Thermal Sensors BV
LI-COR Inc
OTT HydroMet Corp
Who should buy this report?
The Asia Pacific Pyranometer Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Asia Pacific Pyranometer Market value chain can benefit from the information contained in a comprehensive market report.
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WHAT'S INCLUDED IN FULL REPORT : Market Dynamics,
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