Global Floating Solar Panels Market is estimated to reach $1,186 million by 2024; growing at a CAGR of 64.7% from 2016 to 2024. The continual depletion of fossil fuels, increasing demand for energy, and electricity crisis in several regions have led the focus to renewable energy sources. A floating solar panel is an arrangement of photovoltaic panels that floats on water bodies. This new concept is a combination of PV plant technology and floating technology. Moreover, it will be also a revolutionary step to solve the perennial problem of land. These panels increase the effort to reduce greenhouse gases, as they are considered as clean energy and efficient source of electricity.
The global floating solar panels market is driven by factors such as shortage of land, growing initiatives of mega projects by government, falling cost of panels, and its high production capacity. Though, high initial cost would hamper the growth of the market. Besides, increasing research and development need for high stability photovoltaic devices, and untapped markets would provide opportunities for the market in years to come.
The global floating solar panels market is bifurcated as product type, location, and geography. Product type is segmented into solar-tracking floating solar panels, and stationary floating solar panels. Location is categorized as on-shore floating solar panels, and off-shore floating solar panels.
Based on geography, floating solar panels market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Germany, France, Italy, and rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, and rest of Asia-Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include Sharp Corporation, Kyocera Corporation, SPG Solar, Inc., Yingli Solar, Trina Solar Limited, Novaton AG, Pristine Sun LLC, Ciel Et Terre International, SPI Energy Co., Ltd., and Wuxi Suntech Power Co., Ltd., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Floating Solar Panels Market with respect to major segments such as product type, location, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Floating Solar Panels Market will be included in the report
- Profile of the key players in the Global Floating Solar Panels Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Floating Solar Panels Market
Product Type Segments
- Solar-Tracking Floating Solar Panels
- Stationary Floating Solar Panels
- On-Shore Floating Solar Panels
- Off-Shore Floating Solar Panels
- North America
- ·Rest of Europe
- ·Rest of Asia-Pacific
- ·South America
- ·Middle East