Floating Solar Panels Market Size, Share, By Product Type, Capacity, Location, End-User, and Region - Trends, Analysis and Forecast till 2035

Floating Solar Panels Market Size, Share, By Product Type, Capacity, Location, End-User, and Region - Trends, Analysis and Forecast till 2035

Floating solar panels are also known as floating photovoltaic (FPV). They refer to solar panels mounted on structures that float on bodies of water, such as lakes, reservoirs, and ponds. Target Market is driven by increasing demand for clean and renewable energy. In addition, availability of government incentives and tax refunds over the installation of photovoltaic technology are another factors propelling growth of the global market.

Report Highlights:

• Floating solar panels market size is expected to grow at USD 360.0 million by 2035.
• The target market was valued at USD 58.5 million in 2024.
• Target market is expanding at a CAGR of 24%.
• Asia Pacific held the largest share of the market in 2024.
• North America is projected to be the fastest-growing market during the forecast period.
• On the basis of product type, the market is being dominated by the stationary floating solar panels segment.
• By capacity, the 5MW-50MW segment holds the largest floating solar panels market share.
• Based on location, the on shore segment is leading the market.
• Under end-user, the industrial segment held the largest revenue market share of 40.2% in 2024.

Floating Solar Panels Market Key Highlights:

Asia Pacific: Asia Pacific is expected to dominate the growth of the market during the forecast period with largest revenue share of 72% in 2024, due to less availability of land tied to limited amount of fossil fuels, government initiatives.

North America: North America region is considered to be the fastest growing region in the target market as countries, such as the U.S., Canada, and many more are leading the charge significantly due to a growing interest in optimizing underutilized water bodies for energy generation, water management challenges, rising energy demands.

Floating Solar Panels Market Report Analysis:

Floating PV Systems as an Alternative Power Source:

A research article released in February 2024 by MDPI states that floating solar renewable energy has a lot of potential in Indonesia. One of the most well-known renewable energy sources is solar energy, particularly solar photovoltaic (PV), which has become the most widely used technology due to its low cost and high power installed globally. PV also has the potential to assist some developing nations in resolving power shortage issues.

The topography of Indonesia, with its many islands and varied landscapes, is a great illustration of land shortage. As of the vast amount of sea surface that is accessible, installing floating photovoltaic (FPV) modules offshore overcome the surface barrier for onshore PV, positioning Indonesia as a possible global leader in PV. These days, the majority of floating photovoltaic plants are situated in lakes where offshore floating photovoltaic is still a relatively new area. Other floating PV plants do not have the same challenges as offshore applications.

Browse ∼42 market data tables and ∼46 figures through ∼177 slides and in-depth TOC on “Floating Solar Panels Market Size, Share, By Product Type, Capacity, Location, End-User, and Region - Trends, Analysis and Forecast till 2035”

Floating Solar Panels Market Competitive Landscape:

The leading players competing in the floating solar panels market are Kalyon PV, ETC Solar Energy Holdings Co., Ltd., NorSun AS, LONGi, Ciel & Terre, Hanwha Group, KYOCERA Corporation, Trinasolar, VIKRAM SOLAR LTD., and Wuxi Suntech Power Co., Ltd.