Market Overview:
The global floating solar panels market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The growth in the market can be attributed to various factors such as the increasing demand for renewable energy sources, growing concerns about climate change and rising electricity costs. The global floating solar panels market is segmented on the basis of type, application and region. On the basis of type, the market is segmented into solar-tracking floating solar panels and stationary floating solar panels. Solar-tracking floating solar panels are more efficient as they follow sun movement throughout the day which increases power generation by up to 25%. However, these systems are costlier than stationary ones. On the basis of application,the market is divided into off-shore Floating Solar Panels and on-shore Floating Solar Panels segments. Offshore Floating Solar Panels are installed in water bodies such as oceans or lakes while on-shore Floating Solar Panels are installed in landlocked areas near waterbodies or reservoirs.
Product Definition:
A floating solar panel is a type of photovoltaic system that floats on the surface of a body of water. The panels are usually mounted on pontoons or other buoyant structures and can be used in many locations, including lakes, reservoirs, and wastewater treatment ponds. Floating solar panels offer several advantages over traditional PV systems: they are less prone to shading; they have a smaller environmental impact; and they can be installed in areas that are difficult to reach with land-based systems.
Solar-tracking floating solar panels:
Solar-tracking floating solar panels are a new technology that is expected to gain market share in the global floating solar panel industry over the forecast period. The main driver of this technology is its capability to follow the sun throughout the day and thus, generate more electricity than traditional photovoltaic systems. Solar tracking also helps reduce carbon dioxide emission which is considered to be a major concern with other technologies used for power generation.
Stationary floating solar panels:
Stationary floating solar panels are photovoltaic systems that are fixed to the ground and sun-synchronous rotation. They have high efficiency, durability, and low maintenance cost as compared to other types of solar panel systems. The system includes crystalline silicon PV modules mounted on a rigid platform made from concrete or steel; it is designed for areas with low population density where land availability is an issue.
Application Insights:
The off-shore application segment accounted for the largest revenue share of over 40% in 2017. The growing need to generate power from renewable sources, such as wind and solar, has led to an increase in demand for floating solar panels. These panels are used along with wind turbines to form a hybrid power system known as a utility-scale photovoltaic (PV) installation. Utility-scale PV installations require large land areas; hence they are installed off the shore of a country or region. Such installations provide electricity not only for domestic use but also for industrial purposes along with providing sustainable energy resources.
On the other hand, the onshore application segment is expected to witness significant growth over the forecast period owing to increasing demand from residential and commercial consumers across various regions including North America.
Regional Analysis:
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The region accounted for a share of over 40% in 2016 owing to high product demand from China and Japan. In addition, favorable government policies such as Feed-In Tariffs (FITs) and Renewable Portfolio Standards (RPS) are expected to drive industry growth in this region.
The European floating solar panel market is projected to grow at a significant rate over the forecast period owing to increasing R&D investments by major companies, such as Sener Solar and BP Solar, into renewable energy technologies including Floating PV Systems. Rising awareness regarding environmental protection coupled with growing focus on reducing carbon footprint is likely boost industry growth in Europe during the same period.
Growth Factors:
- Increasing demand for clean and renewable energy: Floating solar panels help in harvesting solar energy more efficiently as compared to traditional photovoltaic cells, which are installed on the ground. This is because floating solar panels can be placed over water bodies such as reservoirs, lakes, and ponds where the water helps in cooling the PV modules. Thus, with an increase in awareness about the benefits of using clean and renewable sources of energy such as solar power, there is a rise in demand for floating solar panels across the globe.
- Reduction in installation costs: The cost of installing a floating solar panel system has come down significantly over the past few years due to advancements in technology and economies of scale achieved by manufacturers. This has made this type of PV system more affordable for consumers as well as governments looking to adopt clean energy solutions.
- Rising concerns about climate change: With global temperatures rising at an alarming rate due to greenhouse gas emissions from human activities, there is an increased focus on adopting cleaner forms of energy generation such as renewables that do not contribute towards climate change mitigation efforts. Solar power is one such form of renewable energy that can be used on a large scale to reduce carbon emissions from electricity generation sector worldwide Floating Solar Panels market growth drivers 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49
Scope Of The Report
Report Attributes
Report Details
Report Title
Floating Solar Panels Market Research Report
By Type
Solar-tracking floating solar panels, Stationary floating solar panels
By Application
Off-shore Floating Solar Panels, On-shore Floating Solar Panels
By Companies
GEITS, SPG Solar, Kyocera, Japan Mega Solar Power, Suntech Power, Trina Solar, Yingli Solar, Sharp, GEITS
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
170
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Floating Solar Panels Market Report Segments:
The global Floating Solar Panels market is segmented on the basis of:
Types
Solar-tracking floating solar panels, Stationary floating solar panels
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Off-shore Floating Solar Panels, On-shore Floating Solar Panels
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GEITS
- SPG Solar
- Kyocera
- Japan Mega Solar Power
- Suntech Power
- Trina Solar
- Yingli Solar
- Sharp
- GEITS
Highlights of The Floating Solar Panels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Solar-tracking floating solar panels
- Stationary floating solar panels
- By Application:
- Off-shore Floating Solar Panels
- On-shore Floating Solar Panels
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Floating Solar Panels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Floating solar panels are a type of photovoltaic technology that uses solar energy to float on the surface of water or other liquid mediums. This allows them to collect more sunlight than traditional panel installations, which can result in increased electricity production.
Some of the major companies in the floating solar panels market are GEITS, SPG Solar, Kyocera, Japan Mega Solar Power, Suntech Power, Trina Solar, Yingli Solar, Sharp, GEITS.
The floating solar panels market is expected to register a CAGR of 16%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Floating Solar Panels Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Floating Solar Panels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Floating Solar Panels Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Floating Solar Panels Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Floating Solar Panels Market Size & Forecast, 2018-2028
4.5.1 Floating Solar Panels Market Size and Y-o-Y Growth
4.5.2 Floating Solar Panels Market Absolute $ Opportunity
Chapter 5 Global Floating Solar Panels Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Floating Solar Panels Market Size Forecast by Type
5.2.1 Solar-tracking floating solar panels
5.2.2 Stationary floating solar panels
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Floating Solar Panels Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Floating Solar Panels Market Size Forecast by Applications
6.2.1 Off-shore Floating Solar Panels
6.2.2 On-shore Floating Solar Panels
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Floating Solar Panels Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Floating Solar Panels Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Floating Solar Panels Analysis and Forecast
9.1 Introduction
9.2 North America Floating Solar Panels Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Floating Solar Panels Market Size Forecast by Type
9.6.1 Solar-tracking floating solar panels
9.6.2 Stationary floating solar panels
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Floating Solar Panels Market Size Forecast by Applications
9.10.1 Off-shore Floating Solar Panels
9.10.2 On-shore Floating Solar Panels
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Floating Solar Panels Analysis and Forecast
10.1 Introduction
10.2 Europe Floating Solar Panels Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Floating Solar Panels Market Size Forecast by Type
10.6.1 Solar-tracking floating solar panels
10.6.2 Stationary floating solar panels
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Floating Solar Panels Market Size Forecast by Applications
10.10.1 Off-shore Floating Solar Panels
10.10.2 On-shore Floating Solar Panels
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Floating Solar Panels Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Floating Solar Panels Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Floating Solar Panels Market Size Forecast by Type
11.6.1 Solar-tracking floating solar panels
11.6.2 Stationary floating solar panels
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Floating Solar Panels Market Size Forecast by Applications
11.10.1 Off-shore Floating Solar Panels
11.10.2 On-shore Floating Solar Panels
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Floating Solar Panels Analysis and Forecast
12.1 Introduction
12.2 Latin America Floating Solar Panels Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Floating Solar Panels Market Size Forecast by Type
12.6.1 Solar-tracking floating solar panels
12.6.2 Stationary floating solar panels
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Floating Solar Panels Market Size Forecast by Applications
12.10.1 Off-shore Floating Solar Panels
12.10.2 On-shore Floating Solar Panels
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Floating Solar Panels Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Floating Solar Panels Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Floating Solar Panels Market Size Forecast by Type
13.6.1 Solar-tracking floating solar panels
13.6.2 Stationary floating solar panels
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Floating Solar Panels Market Size Forecast by Applications
13.10.1 Off-shore Floating Solar Panels
13.10.2 On-shore Floating Solar Panels
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Floating Solar Panels Market: Competitive Dashboard
14.2 Global Floating Solar Panels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GEITS
14.3.2 SPG Solar
14.3.3 Kyocera
14.3.4 Japan Mega Solar Power
14.3.5 Suntech Power
14.3.6 Trina Solar
14.3.7 Yingli Solar
14.3.8 Sharp
14.3.9 GEITS
