Global Floating Solar Panels Market, By Product (Tracking Floating Solar Panels, Stationary Floating Solar Panels), By End User (Agriculturale, Commercial, Industrial, Residential, Government), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
A floating solar panel is a solar power generation system that floats on the surface of water sucas a lake, reservoir, quarry pond, or estuary. It helps generate solar power without consuming valuable land space and also offers a variety of environmental benefits. Continuously falling solar panel prices and increasing awareness of renewable energy sources are driving the global adoption of floating solar panel systems.
This market is expected to grow significantly in the near future due to supportive regulatory framework and reduced energy costs for floating solar power systems. Floating solar panels are photovoltaic panels that are mounted on floating structures in bodies of water, usually lakes or reservoirs. This new technology offers several important advantages over traditional ground-mounted solar panels.Installing solar panels on water saves valuable land for other uses. Large bodies of water also act as natural heat sinks, helping the panels function efficiently as they cool.
Additionally, the reflective water surface reflects more sunlight to the bottom of the panel, improving performance by approximately 10%. As countries strive to meet renewable energy goals and combat climate change, floating solar energy is gaining interest as a promising complementary approach.
Market Dynamics:
The key drivers contributing to the growth of floating solar panels market are decline in solar module prices, growing focus on reduction of carbon footprint, technological advancements in floating technology, rise in water surface area suitable for floating solar installations, dual usage of water reservoirs, and government incentives and investments. However, higher installation costs as compared to ground mounted systems, lack of standard design methodologies and uncertainty related to performance are some challenges restraining the growth of this market. The development of innovative floating structures, use of lightweight and durable materials and increased investment in research & development is expected to create new revenue opportunities in the coming years.
Key features of the study:
This report provides in-depth analysis of the global floating solar panels market, and provides market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market .
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players .
It profiles key players in the global floating solar panels market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies .
Key companies covered as a part of this study include Ciel & Terre International, Hanwha Group, JA SOLAR Technology Co. Ltd., KYOCERA Corp., LONGi Solar , Trina Solar, Vikram Solar Ltd., Wuxi Suntech Power Co., Ltd., Yellow Tropus Pvt. Ltd., and Yingli Solar.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics .
Global floating solar panels market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts .
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global floating solar panels market.
Detailed Segmentation:
Global Floating Solar Panels Market
By Product
Tracking Floating Solar Panels
Stationary Floating Solar Panels
By End Use
Agriculturale
Commercial
Industrial
Residential
Government
By Region
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
Top Companies in the Global Floating Panel Market:
Ciel & Terre International
Hanwha Group
JA SOLAR Technology Co. Ltd.
KYOCERA Corp.
LONGi Solar
Trina Solar
Vikram Solar Ltd.
Wuxi Suntech Power Co., Ltd.
Yellow Tropus Pvt. Ltd.
Yingli Solar
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Overview
Report Description
Market Definition and Scope
Executive Summary
Global Floating Solar Panels Market, By Product
Global Floating Solar Panels Market, By End User
Global Floating Solar Panels Market, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Opportunities
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER’s Analysis
Merger and Acquisition Scenario
4. Global Floating Solar Panels Market - Impact of Coronavirus (COVID-19) Pandemic
COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact
5. Global Floating Solar Panels Market, By Product, 2019 - 2031 ( US$ Million)
Introduction
Market Size and Forecast, 2019 - 2031, ( US$ Million
Segment Trends
Tracking Floating Solar Panels, 2019 - 2031( US$ Million)
Introduction
Market Size and Forecast, 2019 - 2031, ( US$ Million)
Stationary Floating Solar Panels, 2019 - 2031( US$ Million)
Introduction
Market Size and Forecast, 2019 - 2031, ( US$ Million)
6. Global Floating Solar Panels Market, By End User, 2019-2031, (US$ Mn)
Introduction
Market Size and Forecast, 2019 - 2031, ( US$ Million)
Segment Trends
Agriculturale
Introduction
Market Size and Forecast, 2019 - 2031, ( US$ Million)
Commercial
Introduction
Market Size and Forecast, 2019 - 2031, ( US$ Million)
Industrial
Introduction
Market Size and Forecast, 2019 - 2031, ( US$ Million)
Residential
Introduction
Market Size and Forecast, 2019 - 2031, ( US$ Million)
7. Global Floating Solar Panels Market, By Region, 2019-2031, (US$ Mn)