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Global Floating Solar Panels Market: By Product Type: Tracking Floating Solar Panels, Stationary Floating Solar Panels; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: Swot Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand; Competitive Landscape; Industry Events and Developments

Global Floating Solar Panels Market Outlook

The global floating solar panels market stood at a volume of around 0.80 GW in 2020. The market is further expected to grow at a CAGR of 29% in the forecast period of 2022-2027 to attain a volume of nearly 3.7 GW by 2026.

 

Global Floating Solar Panels Market

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Growing Popularity of Tracking Solar Panels to Bolster the Growth of the Floating Solar Panels Industry

Based on product type, the tracking solar panel segment is likely to witness a healthy growth in the forecast period, owing to the ability of the product to generate more electricity by optimising the land usage. The single axis and dual axis trackers in a tracing solar panel allow the user to find the perfect fit for a unique job site. Tracking solar panel is an ideal product when considering aspects like installations size, local weather, degree of latitude, and electrical requirements.

Meanwhile, the stationary solar panel segment accounts for a significant share in the market, owing to the lower installation cost and high strength elastic for the construction of panels. In addition to this, the stationary solar panels are durable and reliable, which is likely to bolster the growth of the segment.

 

The Asia Pacific Accounts for a Significant Share in the Floating Solar Panels Industry

The floating solar panels industry in the Asia Pacific is driven by the rapid expansion of industries such as automotive, food processing, oil and gas, and power generation, among others, which require high amounts of energy in order to sustain the day-to-day operations. In countries like China and Japan, a vast majority of floating solar panels have been installed in remote areas by giant solar farms owing to the favourable policies implemented by the governments and their ambitious plans pertaining to renewable energy installations. This is likely to be a major factor driving the industry growth in the region.

 

Floating Solar Panels: Market Segmentation

Floating solar panels, also known as floating photovoltaic (FPV), are defined as a solar power production installation mounted on a structure that floats on the surface of water. The panel is most likely to be located in a lake or basin, which might be artificial.

 

Global Floating Solar Panels Market by Segment

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Based on product type, the market is segmented into:

  • Tracking Floating Solar Panels
  • Stationary Floating Solar Panels

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Floating Solar Panels Market by Region

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Rising Demand for Clean Energy Sources to Boost the Growth of the Floating Solar Panels Industry

The global floating solar panels industry is driven by the growing demand for renewable sources to meet the rising global demand for energy. The favourable government initiatives to support the adoption of solar panels are significantly contributing to the market growth. In addition, the insufficiency of the land area is expected to drive the demand for floating solar panels to take advantage of water bodies like irrigation ponds, reservoirs, lakes, canals, and others to meet the energy needs for various applications. For instance, in the quarry and mining industry, the plants are located in remote areas, where energy and water supply are costly and challenging. Thus, floating solar panels offer an economical solution to meet energy needs for such industries. The product can also reduce the evaporation rate, which is favourable for the mining industry and others.

 

Key Industry Players in the Global Floating Solar Panels Market

The report gives a detailed analysis of the following key players in the global floating solar panels market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Floating Solar UK
  • Akuo Industries
  • Yellow Tropus Pvt. Ltd
  • JA Solar Technology Co., Ltd.
  • Hanwha Group
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Region
Breakup by Product Type Tracking Floating Solar Panels, Stationary Floating Solar Panels
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Floating Solar UK, Akuo Industries, Yellow Tropus Pvt.Ltd, JA Solar Technology Co., Ltd., Hanwha Group, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Floating Solar Panels Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Floating Solar Panels Historical Market (2017-2021) 
    8.3    Global Floating Solar Panels Market Forecast (2022-2027)
    8.4    Global Floating Solar Panels Market by Product Type
        8.4.1    Tracking Floating Solar Panels
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Stationary Floating Solar Panels
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Floating Solar Panels Market by Region
        8.5.1    Market Share
            8.5.1.1    North America
            8.5.1.2    Europe
            8.5.1.3    Asia Pacific
            8.5.1.4    Latin America
            8.5.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Floating Solar UK
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Akuo Industries
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Yellow Tropus Pvt.Ltd
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    JA Solar Technology Co., Ltd.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Hanwha Group
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Floating Solar Panels Market: Key Industry Highlights, 2016 and 2026
2.    Global Floating Solar Panels Historical Market: Breakup by Product Type (GW), 2017-2021
3.    Global Floating Solar Panels Market Forecast: Breakup by Product Type (GW), 2022-2027
4.    Global Floating Solar Panels Historical Market: Breakup by Region (GW), 2017-2021
5.    Global Floating Solar Panels Market Forecast: Breakup by Region (GW), 2022-2027
6.    North America Floating Solar Panels Historical Market: Breakup by Country (GW), 2017-2021
7.    North America Floating Solar Panels Market Forecast: Breakup by Country (GW), 2022-2027
8.    Europe Floating Solar Panels Historical Market: Breakup by Country (GW), 2017-2021
9.    Europe Floating Solar Panels Market Forecast: Breakup by Country (GW), 2022-2027
10.    Asia Pacific Floating Solar Panels Historical Market: Breakup by Country (GW), 2017-2021
11.    Asia Pacific Floating Solar Panels Market Forecast: Breakup by Country (GW), 2022-2027
12.    Latin America Floating Solar Panels Historical Market: Breakup by Country (GW), 2017-2021
13.    Latin America Floating Solar Panels Market Forecast: Breakup by Country (GW), 2022-2027
14.    Middle East and Africa Floating Solar Panels Historical Market: Breakup by Country (GW), 2017-2021
15.    Middle East and Africa Floating Solar Panels Market Forecast: Breakup by Country (GW), 2022-2027
16.    Global Floating Solar Panels Market Structure

Key Questions Answered in the Report

In 2020, the global floating solar panels market attained a volume of nearly 0.80 GW.

The market is estimated to grow at a CAGR of  29% between 2022 and 2027.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major drivers of the market include the ability of the product to meet the energy demand from the industries, and low cost of installation,  growing demand for renewable sources, insufficiency of the land area, changing preferences for power generation from renewable sources of energy, rising demand across the public and private sectors for green electricity and solar investment tax credit, growing investments in the manufacturing and installation of solar panels, and growing penetration of tracking solar technology.

The increasing shift towards the green energy resources in order to prevent the depletion of non-renewable resources and favourable government initiatives to support the adoption of solar panels  are the key trends guiding the growth of the industry.

Tracking floating solar panels and stationary floating solar panels are the major types of products.

The major players in the industry are Floating Solar UK, Akuo Industries, Yellow Tropus Pvt. Ltd, JA Solar Technology Co., Ltd., and Hanwha Group, among others.

Analyst Review

The global floating solar panels market attained a volume  of 0.80 GW in 2020, driven by the growing demand for renewable sources. Aided by the increasing shift towards the green energy resources in order to prevent the depletion of non-renewable resources and favourable government initiatives, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 29%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product type, the market is divided into tracking floating solar panels and stationary floating solar panels. The major regional markets for floating solar panels are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Floating Solar UK, Akuo Industries, Yellow Tropus Pvt. Ltd, JA Solar Technology Co., Ltd., and Hanwha Group, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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