Global Floating Solar Panels Market (2022 to 2030) - Size, Share & Trends Analysis Report - ResearchAndMarkets.com

DUBLIN--()--The "Floating Solar Panels Market Size, Share & Trends Analysis Report by Product (Tracking, Stationary), by Region (Asia Pacific, North America, Europe, Middle East & Africa) and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global floating solar panels market size is expected to reach USD 180.21 million by 2030. The market is expected to expand at a CAGR of 22.5% from 2022 to 2030.

Companies Mentioned

  • Kyocera Corporation
  • Trina Solar
  • Yellow Tropus Pvt. Ltd.
  • Wuxi Suntech Power Co. Ltd.
  • Yingli Solar
  • Ciel & Terre International
  • Longi Solar
  • Ja Solar Technology Co. Ltd.
  • Hanwha Group
  • Vikram Solar Limited
  • Gcl-Si
  • Talesun
  • Pristine Sun Corp.
  • Sharp Corporation
  • Itochu Corporation

The technical aspect of floating solar technology is projected to observe substantial growth over the estimated period owing to the growing demand for dependable renewable sources of energy for power generation. In addition, the reduction in land-related costs is likely to boost the demand over the forecast period.

The stationary floating solar panels segment led the market in 2021. The segment is expected to keep its leading position over the forecast period. Stationary floating solar panels do not take up land area and are easy to install. These panels can be deployed easily on a body of water, such as a reservoir or a lake.

Stationary floating solar panels also double as shades for the water body, which reduces the evaporation of water. The increasing emphasis by various governments on the usage of renewable sources of energy for electricity generation coupled with efforts towards decreasing environmental pollution by reducing the dependence on fossil fuels is likely to have a positive influence on the market over the forecast period.

Tracking floating solar panels are projected to witness increased demand over the forecast period owing to the augmented efficiency of the panels with a tracking technique. The increasing investments in R&D by manufacturers and installers to decrease the cost of the tracking technology are expected to strengthen market growth. Japan was the largest country-level market in 2019 due to the low availability of land and promising government initiatives to encourage the usage of renewable energy.

Floating Solar Panels Market Report Highlights

  • In terms of revenue, the stationary floating solar panels segment accounted for a prominent share in the market in 2021 and is further expected to witness steady growth over the forecast period.
  • in 2021, Asia Pacific accounted for the largest revenue share. Countries like Japan and China are investing heavily into the adoption of floating solar panels, which drives the market growth.
  • Various strategic initiatives were recorded over the past few years to boost the growth of the market.
  • For instance, in October 2018, KYOCERA Corp. formed a joint venture with Tokyo Century to open the largest floating solar park in Japan.
  • The floating solar park has a capacity of 13.7MW and is installed in Yamakura Dam reservoir in Ichihara, Chiba Prefecture, Japan.

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Market Definitions

Chapter 4. Floating Solar Panels Market Variables, Trends & Scope

4.1. Market Size and Growth Prospects

4.2. Industry Value Chain Analysis

4.3. Raw Material Trends

4.4. Market Dynamics

4.4.1. Market Driver Analysis

4.4.2. Market Restraint Analysis

4.4.3. Opportunity Assessment

4.5. Penetration & Growth Prospect Mapping

4.6. Regulatory Framework

4.7. Business Environment Analysis Tools

4.7.1. Industry Analysis - Porter's

4.7.2. PESTEL Analysis

4.8. Impact of Corona Virus on Floating Solar Panels Market

Chapter 5. Floating Solar Panels Market Product Outlook

Chapter 6. Floating Solar Panels Regional Outlook

Chapter 7. Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/471ci1

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900