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.
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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-
· By Product Type
· By Capacity
· By Connectivity
· By Technology
• Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
• Competitive Landscape- including KYOCERA Corp., Trina Solar Co. Ltd., Yellow Tropus Pvt.Ltd, and Wuxi Suntech Power Co.Ltd.
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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
Floating Solar Panel Market Report Segment by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
· Latin America
· Middle East & Africa
Company Profiles
· Ciel & Terre international
· GCL-SI
· Hanwha
· ITOCHU Corp.
· JGC
· LONGi Solar
· Ocean Sun AS
· Pristine Sun Corp.
· QuantSolar
· Raytheon Technologies Corp.
· SHARP
· SPI Groups
· SUNGROW
· Suzhou Talesun Solar Technology Co., Ltd
· Tata Power
· wimsol
· WTWH Media, LLC
· Yingli Solar
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2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
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(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
