Market Overview:
The global onshore & offshore floating solar market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for renewable energy sources and rising concerns about climate change. In addition, government initiatives and subsidies for installation of solar PV systems are also contributing to the growth of this market. The onshore & offshore floating solar market can be segmented by type, application, and region. By type, the market can be divided into PV modules, lightning protection system (LPS), anchoring system, inverter, and others. The PV modules segment is expected to account for a major share of the global onshore & offshore floating solar market in 2018 owing to their high efficiency and low cost as compared to other types of modules available in the market. By application, the irrigation segment is projected to lead in terms of adoption during the forecast period followed by hydroelectric dam applications owing to their growing demand for electricity worldwide coupled with government initiatives towards promotion of renewable energy sources across various countries.
Product Definition:
Onshore Floating Solar is a solar photovoltaic (PV) system that is installed on a man-made body of water, such as a reservoir, canal or pond.
A floating PV array can be installed in any location with ample surface area and direct sunlight exposure, and does not require any additional land acquisition or use. This makes them an ideal solution for crowded urban areas or locations where land is scarce or expensive.
Offshore Floating Solar refers to the same technology as Onshore Floating Solar but is instead deployed in open waters, typically further from shore. Offshore arrays offer several advantages over their onshore counterparts: they are less likely to be affected by shading from trees or other nearby obstructions, they can take advantage of the cooling effects of ocean breezes and waves, and they have the potential to generate more electricity due to increased exposure to sunlight.
PV Modules:
PV modules are semiconductor devices that work on the photovoltaic effect, which is used to generate electricity. The PV module market has witnessed significant growth over the past few years owing to growing energy demand and awareness regarding renewable energy. Increasing government initiatives towards clean energy generation is expected to drive market growth over the forecast period.
Lightning Protection System:
A lightning protection system (LPS) is a device that protects electrical & electronic equipment from the effects of lightning. It does this by conducting the current from the grid to protect any connected devices. The LPS consists of an array of diodes, which are connected in series to conduct electricity and provide protection against lighting strikes.
The demand for LPS is increasing globally owing to growing offshore wind farms.
Application Insights:
The irrigation segment dominated the global offshore and onshore floating solar market in terms of revenue share in 2017. The rising demand for water-efficient products is expected to drive the growth of this segment over the forecast period. Rising awareness regarding energy security, coupled with government support & initiatives to reduce greenhouse gas emissions, is anticipated to propel product demand from various applications including hydroelectricity generation and water treatment.
Onshore floating solar provides power for pumping stations that are used for irrigation purposes across Latin America countries such as Brazil, Colombia and Peru.
Regional Analysis:
Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue leading over the forecast period. The region has been experiencing strong economic growth on account of increasing industrialization, coupled with rising electricity demand-supply gap. In addition, growing awareness regarding environmental protection is anticipated to drive industry expansion over the next eight years.
The Middle East & Africa (MEA) offshore floating solar market was valued at USD X million in 2017 and is projected to grow at a significant rate during the forecast period owing to rapid development of renewable energy infrastructure across several countries including Egypt, UAE, Saudi Arabia and Morocco among others. Moreover, government initiatives encouraging FITs for solar PV installations are further expected boost industry growth during the estimated time span from 2018 to 2030 in this region as well as across other regions such as Asia Pacific and Latin America).
Growth Factors:
- Increasing demand for clean and renewable energy: The floating solar market is expected to grow at a high rate as the demand for clean and renewable energy increases. Solar energy is one of the most efficient and reliable sources of renewable energy, which makes it a preferred choice among consumers.
- Government initiatives for promoting solar power: Governments across the globe are taking initiatives to promote solar power in order to reduce greenhouse gas emissions and meet their targets under the Paris Agreement. This is likely to drive the growth of the floating solar market in coming years.
- Declining costs of solar PV modules: The cost of installing a floating PV system has been declining significantly in recent years due to advancements in technology and increased production capacity globally. This is likely to boost adoption of floating PV systems in coming years.
- India’s Ministry Of New And Renewable Energy (MNRE) announced that it will provide financial assistance up-to Rs 1 crore (~0,000) per MWp installed capacity under its “Floating Solar Photovoltaic Systems Program” .
Scope Of The Report
Report Attributes
Report Details
Report Title
Onshore & Offshore Floating Solar Market Research Report
By Type
PV Modules, Lightning Protection System, Anchoring System, Inverter, Others
By Application
Irrigation, Hydroelectric Dam, Water Treatment, Quarry & Mining, Others
By Companies
Ciel and Terre International, Swimsol, Yellow Tropus Pvt. Ltd., Adtech Systems Limited, Sungrow, EDP Group, Ocean Sun AS, Kyocera TCL Solar, Waaree Energies Ltd, ls electric, Mitsubishi, Hanwha, Akuo Energy SAS, Solar Energy Corporation of India, BayWa r.e. AG, Texel4Trading BV, NRG Island, BELECTRIC GmbH, Duke Energy, Trina Solar
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Onshore & Offshore Floating Solar Market Report Segments:
The global Onshore & Offshore Floating Solar market is segmented on the basis of:
Types
PV Modules, Lightning Protection System, Anchoring System, Inverter, Others
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
Irrigation, Hydroelectric Dam, Water Treatment, Quarry & Mining, Others
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:
- Ciel and Terre International
- Swimsol
- Yellow Tropus Pvt. Ltd.
- Adtech Systems Limited
- Sungrow
- EDP Group
- Ocean Sun AS
- Kyocera TCL Solar
- Waaree Energies Ltd
- ls electric
- Mitsubishi
- Hanwha
- Akuo Energy SAS
- Solar Energy Corporation of India
- BayWa r.e. AG
- Texel4Trading BV
- NRG Island
- BELECTRIC GmbH
- Duke Energy
- Trina Solar
Highlights of The Onshore & Offshore Floating Solar 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:
- PV Modules
- Lightning Protection System
- Anchoring System
- Inverter
- Others
- By Application:
- Irrigation
- Hydroelectric Dam
- Water Treatment
- Quarry & Mining
- Others
- 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 Onshore & Offshore Floating Solar 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
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Onshore and offshore floating solar refers to the installation of solar panels on a floating platform in water. This type of system is typically more expensive than land-based systems, but it has several advantages. Floating platforms can be placed in any body of water, making them ideal for areas with limited land availability or where there is a need to access remote areas. Additionally, floating platforms can be moved as needed, which makes them an attractive option for businesses that need flexible energy solutions.
Some of the major players in the onshore & offshore floating solar market are Ciel and Terre International, Swimsol, Yellow Tropus Pvt. Ltd., Adtech Systems Limited, Sungrow, EDP Group, Ocean Sun AS, Kyocera TCL Solar, Waaree Energies Ltd, ls electric, Mitsubishi, Hanwha, Akuo Energy SAS, Solar Energy Corporation of India, BayWa r.e. AG, Texel4Trading BV, NRG Island, BELECTRIC GmbH, Duke Energy, Trina Solar.
The onshore & offshore floating solar market is expected to grow at a compound annual growth rate of 16%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Market Size & Forecast, 2018-2028
4.5.1 Onshore & Offshore Floating Solar Market Size and Y-o-Y Growth
4.5.2 Onshore & Offshore Floating Solar Market Absolute $ Opportunity
Chapter 5 Global Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Market Size Forecast by Type
5.2.1 PV Modules
5.2.2 Lightning Protection System
5.2.3 Anchoring System
5.2.4 Inverter
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Market Size Forecast by Applications
6.2.1 Irrigation
6.2.2 Hydroelectric Dam
6.2.3 Water Treatment
6.2.4 Quarry & Mining
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Analysis and Forecast
9.1 Introduction
9.2 North America Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Market Size Forecast by Type
9.6.1 PV Modules
9.6.2 Lightning Protection System
9.6.3 Anchoring System
9.6.4 Inverter
9.6.5 Others
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 Onshore & Offshore Floating Solar Market Size Forecast by Applications
9.10.1 Irrigation
9.10.2 Hydroelectric Dam
9.10.3 Water Treatment
9.10.4 Quarry & Mining
9.10.5 Others
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 Onshore & Offshore Floating Solar Analysis and Forecast
10.1 Introduction
10.2 Europe Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Market Size Forecast by Type
10.6.1 PV Modules
10.6.2 Lightning Protection System
10.6.3 Anchoring System
10.6.4 Inverter
10.6.5 Others
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 Onshore & Offshore Floating Solar Market Size Forecast by Applications
10.10.1 Irrigation
10.10.2 Hydroelectric Dam
10.10.3 Water Treatment
10.10.4 Quarry & Mining
10.10.5 Others
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 Onshore & Offshore Floating Solar Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Market Size Forecast by Type
11.6.1 PV Modules
11.6.2 Lightning Protection System
11.6.3 Anchoring System
11.6.4 Inverter
11.6.5 Others
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 Onshore & Offshore Floating Solar Market Size Forecast by Applications
11.10.1 Irrigation
11.10.2 Hydroelectric Dam
11.10.3 Water Treatment
11.10.4 Quarry & Mining
11.10.5 Others
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 Onshore & Offshore Floating Solar Analysis and Forecast
12.1 Introduction
12.2 Latin America Onshore & Offshore Floating Solar 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 Onshore & Offshore Floating Solar Market Size Forecast by Type
12.6.1 PV Modules
12.6.2 Lightning Protection System
12.6.3 Anchoring System
12.6.4 Inverter
12.6.5 Others
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 Onshore & Offshore Floating Solar Market Size Forecast by Applications
12.10.1 Irrigation
12.10.2 Hydroelectric Dam
12.10.3 Water Treatment
12.10.4 Quarry & Mining
12.10.5 Others
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) Onshore & Offshore Floating Solar Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Onshore & Offshore Floating Solar 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) Onshore & Offshore Floating Solar Market Size Forecast by Type
13.6.1 PV Modules
13.6.2 Lightning Protection System
13.6.3 Anchoring System
13.6.4 Inverter
13.6.5 Others
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) Onshore & Offshore Floating Solar Market Size Forecast by Applications
13.10.1 Irrigation
13.10.2 Hydroelectric Dam
13.10.3 Water Treatment
13.10.4 Quarry & Mining
13.10.5 Others
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 Onshore & Offshore Floating Solar Market: Competitive Dashboard
14.2 Global Onshore & Offshore Floating Solar Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ciel and Terre International
14.3.2 Swimsol
14.3.3 Yellow Tropus Pvt. Ltd.
14.3.4 Adtech Systems Limited
14.3.5 Sungrow
14.3.6 EDP Group
14.3.7 Ocean Sun AS
14.3.8 Kyocera TCL Solar
14.3.9 Waaree Energies Ltd
14.3.10 ls electric
14.3.11 Mitsubishi
14.3.12 Hanwha
14.3.13 Akuo Energy SAS
14.3.14 Solar Energy Corporation of India
14.3.15 BayWa r.e. AG
14.3.16 Texel4Trading BV
14.3.17 NRG Island
14.3.18 BELECTRIC GmbH
14.3.19 Duke Energy
14.3.20 Trina Solar
