Global Floating Solar Photovoltaic System Market Growth 2025-2031

The global Floating Solar Photovoltaic System market size is predicted to grow from US$ 296 million in 2025 to US$ 418 million in 2031; it is expected to grow at a CAGR of 5.9% from 2025 to 2031.

A floating solar photovoltaic (FPV) system is an emerging technology in which a solar photovoltaic (PV) system is placed directly on top of a body of water, as opposed to on land or on building rooftops.

It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China"s photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan"s newly installed photovoltaic capacity was 3.57 GW.

The market for floating solar photovoltaic systems is currently in a rapid expansion phase, with its size continuously increasing. Sales growth is primarily driven by the growing focus on environmental sustainability, as these systems offer a renewable energy generation solution under water bodies. They find specific uses across a wide range of applications, including reservoirs, lakes, and water treatment facilities, effectively reducing water surface evaporation while providing clean electricity. The future development prospects are highly promising, with increasing government support for renewable energy, ongoing technological advancements making floating solar PV systems more competitive, and injecting new vitality into the renewable energy market.

LP Information, Inc. (LPI) ' newest research report, the “Floating Solar Photovoltaic System Industry Forecast” looks at past sales and reviews total world Floating Solar Photovoltaic System sales in 2024, providing a comprehensive analysis by region and market sector of projected Floating Solar Photovoltaic System sales for 2025 through 2031. With Floating Solar Photovoltaic System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Floating Solar Photovoltaic System industry.

This Insight Report provides a comprehensive analysis of the global Floating Solar Photovoltaic System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Floating Solar Photovoltaic System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Floating Solar Photovoltaic System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Floating Solar Photovoltaic System and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Floating Solar Photovoltaic System.

This report presents a comprehensive overview, market shares, and growth opportunities of Floating Solar Photovoltaic System market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
PV Modules
Floating Body and Anchoring System
Inverter
Others

Segmentation by Application:
Utilities
Residential
Commercial

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Sungrow
Ciel & Terre
BayWa r.e.
LS Electric
Trina Solar
Ocean Sun
Adtech Systems
Waaree Group
Isigenere
Swimsol
Yellow Tropus

Key Questions Addressed in this Report

What is the 10-year outlook for the global Floating Solar Photovoltaic System market?

What factors are driving Floating Solar Photovoltaic System market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Floating Solar Photovoltaic System market opportunities vary by end market size?

How does Floating Solar Photovoltaic System break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.