Solar Floating Panel Market Size, Share & Forecast [2023-2030] | By Capacity, Type, Panel Type & Regions

Solar Floating Panel Market Major Manufacturers Covered in The Market Report Include: Ciel & Terre International, Adtech Systems Limited, Seaflex AB, Swimsol GmbH, FloatPac Pty Ltd, 4CSOLAR, Inc., Waaree Group, Jain Irrigation Systems Ltd., Sharp Corporation, Sungrow Power Supply Co., Ltd., Sunhome Technology Co., Ltd., D3Energy, LLC, Seraphim Solar System Co., Ltd, REC, KYOCERA International, Inc., Vikram Solar and Upsolar Global.

Pune, India, April 27, 2023 (GLOBE NEWSWIRE) -- The global solar floating panel market size will increase at a promising rate in the forecast duration on account of increasing demand for alternative sources of energy. Fortune Business Insights studies the market in details in their report titled, “Solar Floating Panel Market Size, Share & Industry Analysis, By Capacity (Up to 500 kW, 500 kW to 1 MW, 1 MW to 3 MW, Greater than 3 MW), By Type (Stationary Floating Solar Panel, Tracking Floating Solar Panel), By Panel Type (Mono-crystalline, Poly-crystalline, Thin Film) and Regional Forecast, 2030.”

The report on the solar floating panel market provides interesting insights into the market. The report emphasizes mainly on current trends and upcoming opportunities that will bode well for both overall market revenue as well as for the vendors. Besides that, the report throws light on major growth trajectories such as strategic collaborations, merger and acquisition, contracts, investments in research and development, and others. Such information will be helpful for market vendors to accordingly invest in the market and earn high solar floating panel market shares during the forecast period.

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Growth Drivers:

Rise in Demand for Water Supply to Propel Market Growth

Floating solar is a solar power installation system, mounted on a floating structure for water bodies, typically meant to serve lakes or artificial basins. Solar floating panels help to reduce the evaporation from the water bodies such as ponds, lakes, and reservoirs. They are most useful for drought struck places, where water loss problems can be put up to hold for some time, since the water that usually gets evaporated in the scorching heat, is protected by the floating solar panels. These panels also provide a reliable supply of electricity and are compatible with all water types. Factors such as increasing population and rise in demand for water supply are expected to promote the solar floating panel market. This, coupled with the increase in government initiatives to promote the uptake of renewable energy sources, will support the solar floating panel market growth in the future.

As per current solar floating panel market trends, various categories of the market include capacity, type, panel type, and geography. In terms of capacity, high solar floating panel market shares are gathered from the 1 to 3 MW category as most floating solar installations are less than 1 MW.

Impact of COVID-19:

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The report focuses primarily on factors such as:

  • Growth drivers, restraints, and current trends that will either drive or hamper the market during the forecast period
  • Mapping of the latest advancement in technology that will help market gain traction
  • List of significant players operating in the market and their major marketing strategies that will help them gain a competitive edge in the market
  • Valuable insights to the market that will help players invest accordingly and attract high revenue to the market in the long run
  • Distribution wise segmentation of the market such as type, application, and other segments. 
  • Regional distribution of the market for better understanding of future opportunities for the market vendors

Regional Insights:

Solar Floating Panel Technology Spreading Widely Over Developing and Developed Nations

The first-ever solar floating PV system was constructed in the year 2007 in Aichi, Japan. Other nations such as France, the Republic of Korea, Italy, Spain, and the USA tested small scale floating solar panel systems for demonstration and research purposes. The first installation of a floating solar panel was a 175 kW system, built at Far Niente Winery in California, in 20018 in the USA.

With the increasing adoption of solar floating panels on water, the market started to spread geographically into China, Canada, Australia, Brazil, Portugal, Norway, France, Thailand, the Netherlands, Norway, Turkey, Switzerland, Sri Lanka, Spain, Sweden, Tunisia, Panama, Vietnam, and the United Kingdom. On the other side, projects are ongoing in the Kyrgyz Republic, Azerbaijan, Ghana, Columbia, and Afghanistan.

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Key Industry Developments:

Some of the key industry developments in the solar floating panel market include:

July 2019 – A subordinate of the Italian oil group Eni called Eni New Energy SpA is planning on the development of the first utility-scale 14.19 MW floating solar plant on Brindisi, an artificial water basin in Southern Apulia.

November 2019 – Sunseap, a project development company announced the plan of building the world’s largest solar floating panel on seawater in the Johor Channel that separates Malaysia and Singapore. This project will be supported by the Economic Development Board in Singapore and will provide power to the grid for more than 25 years after completion.

The Report Lists the Main Companies in the Solar Floating Panel Market:

  • KYOCERA International, Inc.
  • Sungrow Power Supply Co., Ltd.
  • REC
  • Jain Irrigation Systems Ltd.
  • Seaflex AB
  • Adtech Systems Limited
  • Upsolar Global
  • LLC
  • Swimsol GmbH
  • FloatPac Pty Ltd
  • 4CSOLAR, Inc.
  • Sunhome Technology Co., Ltd.
  • Vikram Solar
  • Sharp Corporation
  • Ciel & Terre International
  • Waaree Group
  • Seraphim Solar System Co., Ltd.
  • D3Energy

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Solar Floating Panel Market Segmentation:

By Capacity:

  • Up to 500 kW
  • 500 kW to 1 MW
  • 1 MW to 3 MW
  • Greater than 3 MW

By Type:

  • Stationary Floating Solar Panel
  • Tracking Floating Solar Panel

By Panel Type:

  • Mono-crystalline
  • Poly-crystalline
  • Thin Film

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