Floating Solar Panels Market Size & Growth Analysis to 2030

The global floating solar panels market has been projected to grow at a CAGR of over 30% market during the forecast period 2020-2027. The global floating solar panels market is projected to witness robust growth with increasing investment in renewable energy, growing concerns over the emission of greenhouse gases, and inclination of key fuel consuming economies to reduce dependency on fossil fuels. Growing investment in the installation of floating solar panels in land-scarce countries such as Japan, India, and China is projected to fuel the demand for floating solar panels in the Asia Pacific. Furthermore, floating solar panels offer superior efficiency as compared to conventional solar panels since installation on the water keeps the temperature of the solar panels relatively low resulting in better efficiency and improved life expectancy of the solar panels.

Market Insights:

The global floating solar panels market is projected to witness high growth due to increasing concerns over the emission of greenhouse gases along with growing initiatives of various governments towards the clean energy anticipated to fuel the demand for floating solar panels over the forecast period. Tax benefits, subsidies, and rent aids offered by governments to encourage the installation of floating solar panels pumping the infrastructure projects of floating solar panels which in turn is fueling the demand for floating solar panels. Moreover, features such as low maintenance and management cost provide added advantage over the installation of solar panels on land. Increasing installation of floating solar panels on water resources including rivers, canals, ponds, and reservoirs not only saves land required for the installation of the solar panels but also prevents water evaporation loss. Furthermore, floating solar panels offer better efficiency over normal solar PVs installed on land due to the cooling provided by water minimize the temperature of the solar panel which in turn enhance the efficiency of the solar panels. However, factors such as limitation of floating solar panels for the installation on sea water due to lack of non-corrosive properties and the high initial cost of installation are expected to restrain the growth of the global floating solar panels market over the forecast period.

Rising investment in renewable energy along with the growing inclination of key consuming economies to reduce dependency on fossil fuel has urged the investment in the installation of floating solar panels. Land scarcity in the region such as Japan, India, and others is fueling the installation of floating solar panels. The demand for floating solar panels is anticipated to be the highest due to increasing investment in developing floating solar panels plants especially in Japan, India, and China. Other countries including the U.K., France, Thailand, South Korea, and others are also projected to increase investment in the floating solar panels market.

Market Segment Insights:

The global floating solar panels market for the purpose of this study is studied for product types and locations. Stationary floating solar panels and tracking floating solar panels are the prime floating solar panels considered in product segmentation. On the basis of location, the floating solar panels market is segmented into offshore and onshore markets.

Global Floating Solar Panels Market Segmentation:

By Product Type, 2018–2027 (US$ Mn)

• Stationary Floating Solar Panel
• Tracking Floating Solar Panel

By Geography, 2018-2027 ($ Mn)

• North America
• Europe
• Asia Pacific
• Latin America (LATAM)
• Middle East and Africa (MEA)

Regional Insights:

For the purpose of this study, the global floating solar panels market is regionally categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa markets. These regional markets are further sub-segmented into top country-level markets that majorly determine the regional industry trends. Among the considered regional markets, Asia Pacific currently dominates the global floating solar panels market, with Japan being the largest country-level market. High investment in floating solar panels in the region and favorable initiatives of the governments to promote the installation of floating solar panels and growing inclination of the key economies to reduce dependency on fossil fuel for their energy requirements are the factors that predominantly drive the Asia Pacific floating solar panels market. The Asia Pacific is also anticipated to be the fastest-growing regional market for floating solar panels. Additionally, Europe is projected to account for the second-largest share in the global floating solar panels market. Increasing investment in renewable energy is anticipated to drive the growth of the floating solar panels market in the region.

Market Competition Assessment:

The major players currently operating in the global floating solar panels market include Ciel Et Terre International, Solaris Synergy, Sunenergy Pty Ltd., Sharp Corporation, KYOCERA Corporation, among others.

List of Key Companies:

• Ciel Et Terre International
• Solaris Synergy
• Sunengy Pty Ltd.
• Sharp Corporation
• KYOCERA Corporation
• Trina Solar Limited
• Yingli Solar
• Pristine Sun LLC
• SPG Solar
• SPI Energy Co., Ltd.

For more information, request a full report sample @ https://www.researchcorridor.com/request-sample/?id=3480

Key Questions Answered by Floating Solar Panels Market Report

• Global floating solar panels market forecasts from 2020-2027
• Regional floating solar panels market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2020-2027 covering 15 major countries from aforementioned regions
• Floating Solar Panels submarket forecasts from 2020-2027 covering the market by product type, and geography
• Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to floating solar panels market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level floating solar panels markets from 2020-2027
• Competitive Landscape and market positioning of top 10 players operating in the floating solar panels market