Global Floating Solar System Market Growth (Status and Outlook) 2023-2029

Global Floating Solar System Market Growth (Status and Outlook) 2023-2029

Floating solar or floating photovoltaics (FPV), sometimes called floatovoltaics, is solar panels mounted on a structure that floats on a body of water, typically a reservoir or a lake. Floating solar systems help landowners benefit from otherwise underused bodies of water, such as coal quarries, mineral extraction pits or reservoirs. As opposed to conventional rooftop solar panels, floating ones perform between 5% to 15% better because of the cooling effect of the water, and are not impacted by shading from other buildings.

LPI (LP Information)' newest research report, the “Floating Solar System Industry Forecast” looks at past sales and reviews total world Floating Solar System sales in 2022, providing a comprehensive analysis by region and market sector of projected Floating Solar System sales for 2023 through 2029. With Floating Solar 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 System industry.

This Insight Report provides a comprehensive analysis of the global Floating Solar 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 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 System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Floating Solar 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 System.

The global Floating Solar System market size is projected to grow from US$ 254.9 million in 2022 to US$ 692.4 million in 2029; it is expected to grow at a CAGR of 15.3% from 2023 to 2029.

Global key floating solar system players include Sungrow, Ciel and Terre and BayWa r.e. etc. The top 3 companies hold a share about 59%. Asia-Pacific is the largest market with a share about 81%, followed by Europe and South America.

In terms of product, PV Modules is the largest segment with a share about 44%. And in terms of applications, the largest application is utility with a share about 87%.

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

Market Segmentation:

Segmentation by type
PV Modules
Floating Body and Anchoring System
Inverter
Others

Segmentation by application
Utility
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 analyzing the company's coverage, product portfolio, its market penetration.
Sungrow
Ciel and Terre
BayWa r.e.
LS Electric Co., Ltd.
Trina Solar
Ocean Sun
Adtech Systems
Waaree Energies Ltd
Isigenere (Isifloating)
Swimsol
Yellow Tropus

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