Floating Solar Panels Market Segments, Key Players Strategies, Analysis and Forecasts Till 2030

San Francisco, California , USA, May 27, 2022 — /EPR Network/ —

Floating Solar Panels Industry Overview

The global floating solar panels market size was valued at USD 30.16 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 22.5% from 2022 to 2030.

Increasing focus on clean fuel power generation energy sources coupled with insufficiency of the land area will boost the global market during the projection period. Regulatory boards across the world are setting up several targets related to clean energy, which will help in controlling the pollution level. The technical aspect of floating solar technology is projected to observe substantial growth over the estimated period owing to the growing demand for dependable renewable sources of energy for power generation.

Gather more insights about the market drivers, restrains and growth of the Global Floating Solar Panels Market

The U.S. market is anticipated to witness substantial growth in the forecast period on account of strong federal schemes that include rising demand across the public and private sectors for green electricity, and solar investment tax credits. As per the Solar Energy Industries Association, in 2019, the United States solar industry generated an investment of USD 33 billion of private investment. Strict regulations to limit GHG emissions will propel global market growth. In 2016, the Government of China under its 13th 5-year plan introduced its plans to lessen the emission level to 18% by 2020.

Low- to high-capacity scalability, adaptability to any electrical configuration, ease to dismantle and assemble, and the least requirement of heavyweight equipment in the manufacturing of solar panels are some of the features, which undoubtedly inspire the business scope. The rapid reduction in fossil fuel reserves has created a need for the utilization of renewable sources of power generation. Solar energy, being one of the fastest-growing renewable sources of energy owing to the easy system installation, leads to further growth of the market. The advantages associated with floating panel installations are likely to propel the growth.

Browse through Grand View Research’s Renewable Energy Industry Research Reports.

• Off-grid Solar PV Panels Market – The global off-grid solar PV panels market size was valued at USD 2.3 billion in 2021 and it is projected to register a compound annual growth rate (CAGR) of 8.47% from 2022 to 2030.
• Solar PV Panels Market – The global solar PV panels market size was valued at USD 146.08 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030.

Floating Solar Panels Market Segmentation

Grand View Research has segmented the global floating solar panels market based on product and region: 

• Floating Solar Panels Product Outlook (Capacity, MW; Revenue, USD Million, 2019 – 2030)
  • Tracking Floating Solar Panels
  • Stationary Floating Solar Panels 

• Floating Solar Panels Regional Outlook (Capacity, MW; Revenue, USD Million, 2019 – 2030)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa 

Market Share Insights

• October 2018: KYOCERA Corp. formed a joint venture with Tokyo Century to open the largest floating solar park in Japan.
• February 2020: Sembcorp Solar Singapore Pte. Ltd. signed an agreement for the development of a 60 MW floating solar power plant on the Tengeh reservoir in Singapore. The project is anticipated to be finished by 2022, under the supervision of technical advisor DNV GL AS Group Communications.

Key Companies profiled:

Some prominent players in floating solar panels market include,

• KYOCERA Corp.
• Trina Solar
• Yellow Tropus Pvt. Ltd.
• Wuxi Suntech Power Co., Ltd.
• Yingli Solar
• Ciel & Terre International
• LONGi Solar
• JA SOLAR Technology Co. Ltd.
• Hanwha Group
• Vikram Solar Ltd.

Order a free sample PDF of the Floating Solar Panels Market Intelligence Study, published by Grand View Research.