Global Floating Solar Panels Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
"Global Floating Solar Panels Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global floating solar panels market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. Global floating solar panels market report has been segmented on the basis of product type, connectivity, technology, capacity, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Floating Solar panel technology has been gaining traction as a favorable and cost-effective alternative to land-based photovoltaic systems. Floating solar panels consists of panels that are installed on water bodies such as irrigation ponds, reservoirs, lakes, canals, and ocean. These panels are installed on water bodies which helps to maintain the temperature of the silicon panels by upholding the efficiency. These systems have various benefits over traditional power generation systems such as safe and noiseless power generation.
The rapid depletion of fossil fuels and global warming caused by their usage has shifted the global interest from conventional energy resources to green energy resources. Shifting preference towards power generation from renewable sources such as wind and solar, increased investments in renewable energy, high energy demand, and government initiatives to promote solar energy, are some of key factors expected to drive growth of the global floating solar panels market. Moreover, cost-effective nature, reductions in technology prices, and growing networks of solar installers also anticipated to boost the market towards growth. In addition, environmental concerns and increasing investment in clean energy are main factors driving the market growth over the forecast period.
Geographically, Asia Pacific leading to the significant growth of the floating solar panels market, and is expected to continue its dominance over the forecast period. Rising government support, constantly increasing energy cost, and increasing awareness related to benefits associated with the use of solar energy are some of the factors driving the market growth. In addition, stringent regulations with a target to reduce carbon footprint, financial support as well as subsidies for using renewable sources of energy, various schemes, campaigns and programs introduced by The World Bank, MNRE and International Finance Corporation to promote solar power solutions have led to an increase in demand for the target market in the region. According to a report compiled by the International Renewable Energy Agency, Asia accounted for more than two-thirds of the worldwide increase in renewable energy generating capacity in 2017.
In European countries, the policies such as feed-in-tariff (FIT), portfolio standard (RPS), tax credits, and pricing laws, have been developed and implemented to promote the use of solar energy. Policies such as production incentives, quota requirements, trading systems, also have been developed to influence growth of the target market.
Latin America and Middle East & Africa are expected to register a moderate growth revenue in the global floating solar panel market over the forecast period.
Global Floating Solar Panel Market Segmentation:
Segmentation by Product Type:
- Solar-tracking Floating Solar Panels
- Stationary Floating Solar Panels
Segmentation by Connectivity:
- On Grid
- Off Grid
Segmentation by Technology:
- Concentrated Solar Power (CSP) & Concentrator Photovoltaics (CPV)
Segmentation by Capacity
- Small-scale (<100kW)
- Medium-scale (100kW-10MW)
- Large-scale (>10MW)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Vikram Solar Limited
- Ciel & Terre International
- Kyocera Corporation
- Sunengy Pty
- Yingli Solar
- SPG Solar
- Suntech Power Holdings Co., Ltd
- Solaris Synergy
- Trina Solar Limited
- Sharp Corporation
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