Data Bridge Market Research analyses that the Floating Solar Panels Market, valued at USD 39.98 million in 2022, will reach USD 381.58 million by 2030, growing at a CAGR of 32.57% during the forecast period of 2023 to 2030.

Industry Analysis

The floating use of solar panels as an advantageous and affordable replacement for photovoltaic systems installed on land has recently gained attention. Throughout the forecast period, solar-tracking floating solar panels, a new technology, is expected to gain market value in the global floating solar panel market. Photovoltaic systems that are fixed to the ground and rotate in sync with the sun are stationary floating solar panels. Compared to other solar panel systems, they are more effective, durable, and inexpensive to maintain. The system consists of rigid steel or concrete platforms supported by crystalline silicon photovoltaic modules.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

A floating solar power plant is a collection of photovoltaic solar panels made on  structure  that floats on a body of water, generally a lake or reservoir. Floating solar panels have grown because they are a novel, affordable, and dependable renewable solution for utilizing the new water surface of reservoirs or lakes to produce renewable solar power. Floating solar panels are installed on bodies of water such as irrigation ponds, reservoirs, lakes, canals, and the ocean. It is a novel method for harnessing the water surface on reservoirs, dams and other bodies of water to produce solar energy

Global Floating Solar Panels Market Scope

The floating solar panels market is segmented on the basis of product type, capacity, connectivity, location and technology. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Tracking Floating Solar Panels
• Stationary Floating Solar Panels

Capacity

• Up to 500KW
• 500kw to 1MW
• 1mw to 3MW
• Greater than 3MW

Connectivity

• On Grid
• Off Grid

Location

• Onshore
• Offshore

Technology

• Photovoltaic
• Concentrated Solar Power (CSP)
• Concentrator Photovoltaics (CPV)

Panel Type

• Mono- crystalline
• Poly-crystalline
• Thin film

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Floating Solar Panels Market Regional Analysis/Insights

The floating solar panels market is analysed and market size insights and trends are provided by country, product type, capacity, connectivity, location and technology user as referenced above.

The countries covered in the floating solar panels market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the market and will continue to flourish its trend of dominance during the forecast period. The significant factors attributable to the regional dominance in India, china, and japan are increasing government support, persistently increasing energy costs, and rising awareness related to benefits related to the use of solar energy within this region.

Europe will undergo the highest growth rate during the forecast period owing to the region's various policies, such as quota requirements, production incentives, and trading systems. Furthermore, the price of constructing plants is significantly higher, particularly in the Netherlands, where land is expensive; thus, it is easy to access electrical infrastructure for floating solar, which entails lower grid connections cost.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Floating Solar Panels Market Share Analysis

The floating solar panels market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to floating solar panels market.

Some of the major players operating in the floating solar panels market are:

• Ciel et Terre International (France)
• Hanwha Group. (South Korea)
• JA SOLAR Technology Co., Ltd. (China)
• KYOCERA Corporation (Japan)
• LONGi (China)
• Trina Solar (China)
• VIKRAM SOLAR LTD. (U.S.)
• Wuxi Suntech Power Co., Ltd. (China)
• Yingli Solar (China)
• Satkar Softwares Solutions Pvt. Ltd (India)
• Baroda Polyform Pvt Ltd. (India)
• ADTECH Systems (India)
• Waaree Energies Ltd. (India)
• Jain Irrigation Systems Ltd. (India)
• SHARP CORPORATION (Japan)

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MAJOR TOC OF THE REPORT

• Chapter One: Introduction
• Chapter Two: Market Segmentation
• Chapter Three: Market Overview
• Chapter Four: Executive Summary
• Chapter Five: Premium Insights
• Chapter Six: Global Floating Solar Panels Market by Product & Procedure type

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