Floating Solar Panels Market Insights:
The Floating Solar Panels Market was analyzed which was worth USD 36.93 Billion in the year 2022, expecting a CAGR of 22.4% during the forecast period (2023-2030), and the market is projected to be valued at USD 186.05 Billion by 2030.
The increased adoption of Floating Solar Panels in the Renewable Energy is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Floating Solar Panels also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Floating Solar Panels in many sectors also boosts the market growth during the forecast period.
Floating solar panels, also known as floating photovoltaic (PV) systems or floatovoltaics, are solar panels that are installed on water bodies such as lakes, reservoirs, and ponds. These systems consist of a series of solar panels that are mounted on a buoyant platform, which allows them to float on the surface of the water. Floating solar panels have several advantages over traditional ground-mounted solar PV systems. Floating solar panels are typically anchored to the bottom of the water body and connected to the electricity grid through underwater cables. The systems require regular maintenance, such as cleaning of the solar panels and inspection of the anchoring system.
Floating Solar Panels Market Research Report” was just released by Market Research Community. It is divided into several categories, including Product (Tracking Floating Solar Panels, Stationary Floating Solar Panels), and companies (KYOCERA Corp., 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 Ltd., GCL-SI, Talesun, Pristine Sun Corp, Sharp Corp.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 22.4%, over the forecast period of 2023–2030.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||186.05 Billion|
|By Product||Tracking Floating Solar Panels, Stationary Floating Solar Panels|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||KYOCERA Corp., 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 Ltd., GCL-SI, Talesun, Pristine Sun Corp, Sharp Corp.|
The COVID-19 pandemic has had a substantial negative influence on the Floating Solar Panels market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
KYOCERA Corp., 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 Ltd., GCL-SI, Talesun, Pristine Sun Corp, Sharp Corp.
Market Segment Analysis:
- Tracking Floating Solar Panels
- Stationary Floating Solar Panels
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Floating Solar Panels industries in the region.
Key Floating Solar Panels Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Floating Solar Panels Market segments.
– Largest Market Share Held by Industry to Industry for Floating Solar Panels
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Floating Solar Panels Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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