Global Floating Solar Panels Market to reach US$ 405 Mn by 2026, with a CAGR of 31 % over the forecast period.
Led by huge investments by private and public parties, floating solar panels market is censured to surpass an installation volume of 700 MW by 2024. More than 4,900 of the country’s homes are likely to be powered with floating solar plant in the forecast years. Besides, lack of availability of suitable land for installation coupled with its ability to lower the impact of evaporation is a key factor driving the market over the forecast period.
Floating solar panel can be placed in industrial ponds such as water treatment plant and can be planted in the hydroelectric plants adding a land availability. Technological advancements has resulted into decline in panel cost and hence resulted into lower per unit cost of generation in the overall expenditure, promoting the use of solar technology for power generation. High cost of installation constrains the market. Installation of floating panels cannot be done in sea as the waves will prevent the angular position of sun and the wind speed will also affect the amount of electricity generation adding a shortcomings to market growth.
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Based on location, onshore segment has major contribution in market in terms of revenue and projected to maintain its supremacy over the forecast period. Offshore segment will grow at steady pace. However, complications concern with offshore installation of floating solar panels are likely to pose barrier for the growth of the offshore segment.
In 2017, stationary floating solar panel segment was the dominant accounting for the largest revenue share. Tracking floating solar panels are expected to grow at significant rate owing to enhanced efficiency offerings of a site by more than 15 to 25% stationary floating solar panel. Also, tracker costs are falling significantly, partly due to price competition from suppliers and partly due to design innovations.
Asia Pacific was assessed to be the largest market for floating solar panels in 2017. Mounting investment in floating solar panels coupled with favorable regulatory support is expected to extend the growth of solar panels in Japan, China and India. Further, countries such as South Korea, Thailand, Malaysia, Australia and Maldives are anticipated to increase their investment in development of floating solar panel plants during the forecast period. North America floating solar panels market volume share is predicted to grow over 67 % by 2026.
Growth rate is led by federal government initiatives to inspire the deployment of clean energy technologies. For Europe, synchronization of several projects has significantly driven the industry growth across the region. Brazil floating solar panels market share is set to witness momentous growth of over 34%. Government of Brazil is making significant investments to fully utilize the country’s vast river beds which in turn will drive the market size.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Floating Solar Panels market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in floating solar panels market.
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Scope of the Global Floating Solar Panels Market
Global Floating Solar Panels Market, By Product:
• Stationary
• Solar Tracking
Global Floating Solar Panels Market, By Location:
• On-Shore
• Off-Shore
Global Floating Solar Panels Market, By Technology:
• Photovoltaic
• Concentrated Solar Power (CSP) & Concentrator Photovoltaic (CPV)
Global Floating Solar Panels Market, By Application:
• Residential
• Commercial
• Industrial
Global Floating Solar Panels Market, By Capacity:
• Small-scale (<100kW) • Medium-scale (100kW-10MW) • Large-scale (>10MW)
Global Floating Solar Panels Market, By Region:
• North America
• South America
• Asia Pacific
• Europe
• Middle East & Africa
Key Players Analyzed in the Report:
• GEITS
• Yingli Solar
• SPG Solar
• Suntech Power Holdings Co. Ltd.
• Ciel & Terre
• Wuxi Suntech Power Co. Ltd.
• Kyocera Corporation
• Trina Solar Limited
• Japan Mega Solar Power Co
• Solaris Synergy
• Sharp Corporation
• SPI Energy
• Novaton AG
• Ciel & Terre International
• Pristine Sun
• Vikram Solar
• Sunengy
Browse Full Report with Facts and Figures of Floating Solar Panels Market Report at: https://www.maximizemarketresearch.com/market-report/global-floating-solar-panels-market/28218/
MAJOR TOC OF THE REPORT
Chapter One: Floating Solar Panels Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Floating Solar Panels Market Competition, by Players
Chapter Four: Global Floating Solar Panels Market Size by Regions
Chapter Five: North America Floating Solar Panels Revenue by Countries
Chapter Six: Europe Floating Solar Panels Revenue by Countries
Chapter Seven: Asia-Pacific Floating Solar Panels Revenue by Countries
Chapter Eight: South America Floating Solar Panels Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Floating Solar Panels by Countries
Chapter Ten: Global Floating Solar Panels Market Segment by Type
Chapter Eleven: Global Floating Solar Panels Market Segment by Application
Chapter Twelve: Global Floating Solar Panels Market Size Forecast (2019-2026)
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