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Floating Solar Panel Market to hit 2.5 GW by 2024: Global
Market Insights Inc.
The global Floating Solar Panels Market share report provides numbers for
applications and regional segments of the industry covering historical as well as
forecast data for decision makers.
Strict government measures for reducing carbon emissions along with promotion of
renewable energy use is expected to push floating solar panel market size over the
coming years. In addition to this, technological breakthroughs along with low solar
component costs will further boost the industry trends significantly. Low land
availability for PV systems installations is anticipated to further stimulate the industry
outlook over the coming timeframe. In this regards, the countries are focusing on
maximum utilization of the waterbodies to address the rising energy needs. For
instance, Singapore is collaborating actively with private firms to effectively utilize its
waterbodies for development of new floating solar panel products, addressing the
requirement of over 6 million population base. The country had launched the world’s
largest floating solar PV cell test-bed on October 25th, 2016.
Stationary and Tracking are the major floating solar panel products. Stationary floating
solar panels accounted for 90% of the overall floating solar panel market share in
2015, and is expected to witness lucrative gains over the coming years. The growth
can be attributed to the high popularity of these products across emerging economies,
owing to its cost-effectiveness. Tracking floating solar panel industry revenue is
expected to hit USD 250 million by 2024, primarily driven by its durability and
Below are the geographical trends influencing global floating solar panel market
U.S. floating solar panel industry value is projected to surpass USD 250 million
by 2024, due to the beneficial government regulations promoting the use of
renewable energy sources as well as clean energy technologies.
Limited land availability along with scarcity of natural resources will boost the
demand for PV systems deployment, thereby stimulating Japan floating solar
panel market growth over the coming seven years, having attained a revenue
of USD 14 million in 2015.
Brazil floating solar panel market is anticipated to observe a substantial growth
over the coming timeframe, driven by high investments in PV systems
installations across the nation’s large water bodies.
UK floating solar panel industry is slated to witness a high surge over the
coming seven years, driven by implementation of strict legislations to restrict
Substantial reduction in solar panel costs will escalate China floating solar
panel industry size over the period of 2016-2024.
Global Floating Solar Panels Market, By Capacity, 2013 – 2024 (MW)
Browse key industry insights spread across 145 pages with 244 market data tables &
11 figures & charts from the report, “Floating Solar Panels Market Size, By Product
(Tracking, Stationary), By Capacity (0.1-1 MW, 1-5 MW, ≥ 5 MW), By Connectivity
(On Grid, Off Grid), Industry Analysis Report, Regional Outlook (U.S., UK, Italy,
Netherlands, Japan, South Korea, China, India, Taiwan, Malaysia, Singapore,
Australia, Brazil, Israel), Growth Potential, Price Trends, Competitive Market
Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Floating solar panels are connected via off grid and on grid systems. On grid floating
solar panel market share, which accounted for 75% of the overall revenue in 2015, is
expected to grow notably over the coming timeframe. Rapid expansion of the utility
projects along with tax concessions offered by government will favorably impact the
Off grid floating solar panel industry is expected to witness a noteworthy expansion
over the coming seven years. Implementation of distributed power generating systems
across the emerging economies will influence the business.
Market players are heavily investing in product development and R&D to obtain a
competitive edge in terms of cost and reliability. Key industry participants include
Kyocera Corporation, Solaris Synergy Limited, Pristine Sun LLC, SPI Energy Company
Limited, Yingli Solar, Sunengy Private Limited, Novaton AG, Vikram Solar Private
Limited, and Ciel & Terre International.
Report Content of Floating solar panels Market:
Methodology & Scope
Initial data exploration
Statistical model and forecast
Industry insights and validation
Scope & assumptions
Floating solar panels industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Capacity trends
2.1.5 Connectivity trends
Floating Solar Panels Industry Insights
Industry size & forecast, 2013 - 2024
Industry ecosystem analysis
Innovation & sustainability
Price trend analysis
Industry impact forces
Increasing adoption of clean energy sources
High land acquisition cost
High capacity utilization factor
Industry pitfalls & challenges
188.8.131.52 High initial installation cost
Growth potential analysis
Competitive landscape, 2015
3.10.1 Strategy dashboard
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy and
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