Floating Solar Panel Market
Global Floating Solar Panel Market Size, Share & Trends Analysis Report, By Product Type (Stationary, Tracking), By Capacity (0.1-1MW, 1-5MW, ?5MW), By Connectivity (On-grid, Off-grid), and By Technology (Monocrystalline, and Polycrystalline), Forecast (2021-2027) Update Available - Forecast 2024-2030
The global floating solar panel market is anticipated to grow at a significant CAGR of 24.5% during the forecast period (2021-2027). One of the major drivers of the floating solar panel market is the growing awareness amongst people, and the government to increase the sources of renewable energy. Governments across the globe are being more proactive in making sure to reduce their fossil fuel consumption, and start to take initiatives in the direction of clean, green, and renewable energy sources. For instance, as per the IBEF, the government of India is aiming to achieve 227 GW of renewable energy capacity (including 114 GW of solar capacity addition and 67 GW of wind power capacity) by 2022, more than its 175 GW target as per the Paris Agreement. The government plans to establish renewable energy capacity of 523 GW (including 73 GW from Hydro) by 2030.
Moreover, governments across the globe are implementing restrictions and regulations to limit and eventually stop the usage of fossil fuels. For instance, under its 5-year plan, the government of China implemented its plan to reduce emission rates by 18% until 2020. The policy included regulations such as low to high-capacity scalability, easy to dismantle and assemble, adaptability to any electronic configuration, and minimum requirement of heavy equipment in the manufacturing of solar panels. Furthermore, India has been taking some big initiatives in floating solar power such as the Kayamkulam floating solar power plant in Kerala with the capacity of 92 MW, and 25 MW floating solar power plant at Simhadri thermal power plant near Visakhapatnam.
Impact of COVID-19 Pandemic on Global Floating Solar Panel Market
COVID-19 pandemic has hindered the market growth of the floating solar panel market. Due to the many restrictions of the pandemic the supply chain of the market has been disrupted. This disturbance in the supply chain has driven up the prices of the panels as manufacturers faced material shortages, labor shortages, and restrictions on international trade. Thus, causing delayed execution in projects that have hindered the growth of the industry. For instance, the floating solar panel project in Seychelles, East Africa, has been delayed due to the impact of COVID-19 on the industry.
Segmental Outlook
The global floating solar panel market is segmented based on product type, capacity, connection, and technology. Based on the product type, the market is classified as stationary, and tracking. Based on the capacity, the market is augmented as 0.1-1 MW, 1-5MW, ?5 MW. Based on the connectivity, the market is segmented as on-grid, off-grid. Based on technology, the market is segmented as monocrystalline, and polycrystalline. Among the product type segment, the stationary floating solar panel is expected to majorly dominate the overall floating solar panel market owing to the increased demand for floating solar systems and lower cost. The above-mentioned segments can be customized as per the requirements.
Global Floating Solar Panel Market Share by Product Type, 2020 (%)
The Stationary Segment Holds the Major Share in the Global Floating Solar Panel Market
Among the product type, the stationary segment dominates the majority of the shares in the global floating solar panel market. The dominant position of the stationary panel can be contributed to the increasing demand for floating solar technology, and the lower cost of stationary panels. The stationary floating solar panels cost less to manufacture which is contributed to no moving parts compared to tracking floating solar devices. This in turn also requires less overall maintenance and servicing.
Regional Outlooks
The global floating solar panel market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement.
Global Floating Solar Panel Market Growth, by Region 2021-2027
The Asia-Pacific Region Holds the Major Share in the Global Floating Solar Panel Market
The Asia-Pacific region currently holds the majority of the share in the global floating solar panel market. The Asia-pacific region has the largest revenue share of the floating solar panel market. Due to the higher penetration of the floating solar panel technology in the APAC region, it is expected to see substantial growth owing to its high market potential. For instance, Japan has less availability of land and the limited amount of fossil fuel has created a higher market penetration for the industry. Furthermore, the growing awareness of the floating solar technology and decreasing cost of solar panels in the region with the further endorsement of the market in the forecast period.
Market Players Outlook
The major companies serving the global floating solar panel market include KYOCERA Corp, Trina Solar Co. Ltd., Yellow Tropus Pvt.Ltd, Wuxi Suntech Power Co.Ltd., Vikram Solar Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2019, Ciel & Terre partnered with Cleantech solar for the flagship floating solar plant in Cambodia. The partnership has successfully built a 2.8 MWp floating solar plant on the reservoir of an advanced cement plant, Chip Mong Insee Cement (CMIC), in Cambodia.
The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global floating solar panel market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Floating Solar Panels Market
• Recovery Scenario of Global Floating solar panels Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. KYOCERA Corp.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Trina Solar Co. Ltd.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Yellow Tropus Pvt. Ltd
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Wuxi Suntech Power Co.Ltd.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Vikram Solar Ltd.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Floating Solar Panels Market by Product Type
4.1.1. Stationary
4.1.2. Tracking
4.2. Global Floating Solar Panels Market by Capacity
4.2.1. 0.1-1 MW
4.2.2. 1-5 MW
4.2.3. ?5 MW
4.3. Global Floating Solar Panels Market by Connectivity
4.3.1. On-Grid
4.3.2. Off-Grid
4.4. Global Floating Solar Panels Market by Technology
4.4.1. Monocrystalline
4.4.2. Polycrystalline
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Ciel & Terre international
6.2. GCL-SI
6.3. Hanwha
6.4. ITOCHU Corp.
6.5. JGC
6.6. LONGi Solar
6.7. Ocean Sun AS
6.8. Pristine Sun Corp.
6.9. QuantSolar
6.10. Raytheon Technologies Corp.
6.11. SHARP
6.12. SPI Groups
6.13. SUNGROW
6.14. Suzhou Talesun Solar Technology Co., Ltd
6.15. Tata Power
6.16. wimsol
6.17. WTWH Media, LLC
6.18. Yingli Solar
1. GLOBAL FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
2. GLOBAL STATIONARY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL TRACKING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CAPACITY, 2020-2027 ($ MILLION)
5. GLOBAL FLOATING SOLAR PANELS FOR 0.1-1 MW MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL FLOATING SOLAR PANELS FOR 1-5 MW MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL FLOATING SOLAR PANELS FOR?5 MW MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CONNECTIVITY, 2020-2027 ($ MILLION)
9. GLOBAL FLOATING SOLAR PANELS FOR ON-GRID MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL FLOATING SOLAR PANELS FOR OFF-GRID MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
12. GLOBAL FLOATING SOLAR PANELS FOR MONOCRYSTALLINE RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL FLOATING SOLAR PANELS FOR POLYCRYSTALLINE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
15. NORTH AMERICAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
17. NORTH AMERICAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CAPACITY, 2020-2027 ($ MILLION)
18. NORTH AMERICAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CONNECTIVITY, 2020-2027 ($ MILLION)
19. NORTH AMERICAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
20. EUROPEAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. EUROPEAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
22. EUROPEAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CAPACITY, 2020-2027 ($ MILLION)
23. EUROPEAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CONNECTIVITY, 2020-2027 ($ MILLION)
24. EUROPEAN FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
26. ASIA-PACIFIC FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CAPACITY, 2020-2027 ($ MILLION)
28. ASIA-PACIFIC FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CONNECTIVITY, 2020-2027 ($ MILLION)
29. ASIA-PACIFIC FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
30. REST OF THE WORLD FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
31. REST OF THE WORLD FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
32. REST OF THE WORLD FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CAPACITY, 2020-2027 ($ MILLION)
33. REST OF THE WORLD FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY CONNECTIVITY, 2020-2027 ($ MILLION)
34. REST OF THE WORLD FLOATING SOLAR PANELS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL FLOATING SOLAR PANELS MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL FLOATING SOLAR PANELS MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL FLOATING SOLAR PANELS MARKET, 2021-2027 (%)
4. GLOBAL FLOATING SOLAR PANELS MARKET SHARE BY PRODUCT TYPE, 2020 VS 2027 (%)
5. GLOBAL STATIONARY MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
6. GLOBAL TRACKING MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL FLOATING SOLAR PANELS MARKET SHARE BY CAPACITY, 2020 VS 2027 (%)
8. GLOBAL FLOATING SOLAR PANELS FOR 0.1-1 MW MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL FLOATING SOLAR PANELS FOR 1-5 MW MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL FLOATING SOLAR PANELS FOR?5 MW MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
11. GLOBAL FLOATING SOLAR PANELS MARKET SHARE BY CONNECTIVITY, 2020 VS 2027 (%)
12. GLOBAL FLOATING SOLAR PANELS FOR ON-GRID MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL FLOATING SOLAR PANELS FOR OFF-GRID LEVEL MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL FLOATING SOLAR PANELS MARKET SHARE BY TECHNOLOGY, 2020 VS 2027 (%)
15. GLOBAL FLOATING SOLAR PANELS FOR MONOCRYSTAL LINE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
16. GLOBAL FLOATING SOLAR PANELS FOR PLOYCRISTAL LINE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
17. GLOBAL FLOATING SOLAR PANELS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
18. US FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
19. CANADA FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
20. UK FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
21. FRANCE FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
22. GERMANY FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
23. ITALY FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
24. SPAIN FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
25. REST OF EUROPE FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
26. INDIA FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
27. CHINA FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
28. JAPAN FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
29. SOUTH KOREA FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
30. REST OF ASIA-PACIFIC FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
31. REST OF THE WORLD FLOATING SOLAR PANELS MARKET SIZE, 2020-2027 ($ MILLION)
