The global floating solar panel market is anticipated to grow at a considerable CAGR of 24.5% during the forecast period (2021-2027). Solar photovoltaic power is a green, clean and renewable source of power that is increasingly needed to reduce the effects of greenhouse gas emissions and prevent global warming. For instance, one of the largest solar farms, Benban Solar Park in Egypt with a total capacity of 1,650 megawatts was completed in November 2019.
Browse the full report description of "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)" at https://www.omrglobal.com/industry-reports/floating-solar-panel-market
Another factor includes that, the solar panel systems do not have to be fixed on land, and roof-tops, solar panels can be mounted on platforms that float on water-bodies like lakes, reservoirs, and the surface of the ocean under the right conditions. Compared to land-based solar panels, floating solar panels are more expensive to build and challenging to operate. But the capacity of floating solar panels is growing quickly, from being able to provide a peak power of 70 megawatts in 2015 to be 1,300 megawatts in the year 2018. Also, as per the International Finance Corporation (IFC), more than 300 floating solar power systems have been installed globally in 2020. A global research firm report by wood Mackenzie has estimated the floating solar panel market to grow by 22% year-over-year on an average from 2019 through 2024.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
o By Product Type
o By Capacity
o By Connectivity
o By Technology
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including KYOCERA Corp., Trina Solar Co. Ltd., Yellow Tropus Pvt.Ltd, and Wuxi Suntech Power Co.Ltd.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Floating Solar Panel Market Report Segment
By Type
• Stationary
• Tracking
By Capacity
• 0.1-1MW
• 1-5MW
• ?5MW
By Connectivity
• On-Grid
• Off-Grid
By Technology
• Monocrystalline
• Polycrystalline
Global Floating Solar Panel Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa