The global demand for Floating Solar Panels Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028. Whereas with regards to volume, the market was calculated XX Gigawatt in 2021 and foreseen to touch XX Gigawatt by 2028 with a CAGR of XX% during 2022-2028.
Floating solar panels are the photovoltaic panel that floats on top of a body of water affixed to a buoyant structure that keeps them on the surface. It is commonly installed in a lake or basin. Floating solar panel offer numerous advantages over other installation patterns: no loss of valuable land space, water and quality saving, higher solar panel performance, and environmental benefits. These panels offer a reduced rate of evaporation and efficiency gain as high as 12%.
Market Dynamics
The global floating panel market is advancing rapidly due to growing energy needs and limited land availability. The growth is also supported by the government's growing initiative to generate renewable energy to meet energy needs. The constant depletion of fossil fuel reserves and high energy demand makes renewable energy sources unlimited energy sources in the future but also environmentally friendly. Although solar power offers many advantages over other forms of power generation, the main issue is the large land requirements that are unavailable in the world. The solution to this is a floating solar panel. Also, floating solar plants offer higher efficiency than ground-and roof-mounted installations due to the moderating effect of water bodies on panel temperature. With numerous advantages, the technology has some disadvantages, including the high cost of installation and concern about unstable rise and fall of water level, which is restraining the growth of the market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of floating solar panels.
Market Segmentation
The entire floating solar panels market has been sub-categorized into type and connectivity. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Type
- Tracking Floating Solar Panels
- Stationery Floating Solar Panels
By Connectivity
- On Grid Floating Solar Panel
- Off-Grid Floating Solar Panel
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for floating solar panels market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Floating Solar Panels Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the floating solar panels market include Solaris Synergy, Sharp Corporation, Trina Solar, Yingli Solar, Pristine Sun LLC, Sino Group, KYOCERA Corporation, ITOCHU Corporation, Hanwha Group, Wuxi Suntech Power Co. Ltd., Mitsubishi Electric Corporation, JA SOLAR Co. Ltd. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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