Introduction to Floating Solar Panels Market
Floating solar plant or farm is an arrangement of photovoltaic solar panels on a structure that floats on a water body, which is generally a lake or reservoir.
Solar panels used in the construction of floating solar farms are known as floating solar panels. Floating solar is a new, cost-effective, and reliable renewable solution for utilizing idle water surfaces of reservoirs or lakes to produce renewable solar power.
Floating solar power plant systems typically generate more electricity than ground-mount and rooftop systems due to the cooling effect of the water.
Floating Solar Panels Market Dynamics
The report comprises detailed value chain analysis, which provides a comprehensive view of the global floating solar panels market. The Porter’s Five Forces model for the floating solar panels market has also been included to help understand the completive landscape of the market. The study encompasses market attractiveness analysis, wherein type and capacity segments have been benchmarked based on their market size, growth rate, and general attractiveness.
Floating Solar Panels Market - Segmentation (Type, Capacity, Region, and Country)
The study provides a decisive view of the global floating solar panels market by segmenting it in terms of type, capacity, and region. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for floating solar panels in Americas, Europe, Asia Pacific and Rest of the World.
Based on type, the floating solar panels market has been classified into stationary floating solar panels and solar-tracking floating solar panels. Stationary floating solar PV systems are installed on the water surface. PV panels float on a structure that floats on a water body.
The entire system contains a series of solar panels, aluminum frames, cables, and invertors. Solar-tracking floating solar system consists of machinery, a tracking system, and panels. The panels are supported on pivoting platforms and wheels powered by a motorized drive to move the frames and platforms along circular channels.
Solar panel-tracking solutions is an advanced technology for mounting photovoltaic panels. In terms of capacity, the global floating solar panels market has been divided into up to 1MW, 1MW - 5MW, and above 5MW.
Based on region, the global floating solar panels market has been segregated into the Americas, Europe, Asia Pacific, and Rest of World. Asia Pacific dominated the global floating solar panels market in 2018. It was followed by Europe and the Americas.
The floating solar panels market in Rest of World is estimated to expand at a fast pace during the forecast period.
Demand for floating solar panels in Asia Pacific is rising at a significant pace due to the growth in investment in sources of renewable energy in the region.
The report analyzes and forecasts the floating solar panels market at global, regional, and country levels. The market has been forecasted in terms of value (US$ Mn) and volume (KW) for the period from 2019 to 2027. The study includes drivers and restraints of the global floating solar panels market. It covers the anticipated impact of these drivers and restraints on the demand for floating solar panels during the forecast period.
The report highlights opportunities for the floating solar panels market at global and regional levels. In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report. Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
Floating Solar Panels Market-Competition Landscape
The study includes profiles of major companies operating in the global floating solar panels market. Key players profiled in the report include
Awareness about solar power and subsidies on installation of solar power are likely to drive the market. Market leaders are adopting measures such as strategic pricing and product improvement to increase their market share.
Global Floating Solar Panels Market, by Type
Global Floating Solar Panels Market, by Capacity
Global Floating Solar Panels Market, by Region
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