Floating Solar Panels Industry Overview:
Market Research Future Report has recently released expansive research titled Global Floating Solar Panels Market guarantees you will remain better informed than your competition. This study provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market.
Market Research Future Report analyses that the global Floating Solar Panels market, which was USD 0.9 billion in 2022, is expected to reach USD 4.3 billion by 2030, at a CAGR of 24.40% during the forecast period 2024 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Market Research Future Report team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Competitive Analysis
- GEITS
- Kyocera Corporation
- Wuxi Suntech Power Ltd.
- Japan Mega Solar Power Co.
- Yingli Solar
- Suntech Power Holdings Co. Ltd.
- SPG Solar
- Solaris Synergy
- Ciel & Terre
- Sharp Corporation
- Trina Solar Limited
Market Drivers
The Floating Solar Panels market has recently advanced. The main feature causing a rise in market performance is the growing demand for clean and renewable energy around the world. Furthermore, several nations are turning to clean energy sources. Because of its substantial untapped potential, floating solar is becoming more popular among the available sources, with the availability of government incentives and tax refunds over the deployment of photovoltaic technology.
Market Restraints
On the contrary, various aspects may harm expanding the global market for Floating Solar Panels. One of the main restraints in advancing the market's growth is the elevated prices allied with raw materials.
Segment Analysis
The global market for Floating Solar Panels has been segregated into various segments based on location, product, and region.
Based on the product, the global market for Floating Solar Panels is divided into tracking floating solar panels and stationary floating solar panels.
Based on the location, the global market for Floating Solar Panels is divided into offshore and onshore.
Regional Analysis
The study offers market data by region for North America, Asia-Pacific, Europe, and the Rest of the World.
The study documents by MRFR entail that The Asia-Pacific Region ensured the prime position across the Floating Solar Panels market in 2022, with the largest contribution of nearly USD 0.3 billion. The regional market is anticipated to grow substantially during the assessment period at a healthy growth rate of around 42.80%. The area is recognized for dynamic development contributors such as China, India, and Indonesia. The primary aspect boosting the development of the regional Floating Solar Panels market is the absence of suitable land and a steady supply of fossil fuels. To meet the rising demand need for electricity while minimizing environmental harm, the government has approved a wide variety of designs and constructions for floating solar panels.
The North American region is estimated to grow at the highest pace across the Floating Solar Panels market over the assessment era. The area is recognized for dynamic development contributors such as Mexico, Canada, and the US. The primary aspect boosting the development of the regional Floating Solar Panels market is the capacity of floating solar technology to lower evaporation and land availability. In regions with high temperatures, like the central regions of the United States, the deployment of floating solar farms reduces the rate of evaporation, which assists in lessening the likelihood of drought.
The European Region will grow substantially across the Floating Solar Panels market from 2023 to 2032. The area is recognized for dynamic development contributors such as Germany, France, and the UK. The primary aspect boosting the development of the regional Floating Solar Panels market is the laws that favor the use of solar energy for generating electricity. Furthermore, land availability and solar technology's capacity to float to lower the impact of evaporation are anticipated to increase product demand.
More Trending Reports