New York, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Floating Solar Panels Industry" - https://www.reportlinker.com/p06031587/?utm_source=GNW
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Global Floating Solar Panels Market to Reach 4.8 Thousand MW by the Year 2026
Floating solar panels or floating photovoltaics (FPV), which are also known as floatovoltaics, are solar panels that are mounted on a structure floating on a water body, typically a lake or a reservoir. FPVs float on water and an embedded solar tracker follows the sun`s movement and place the solar panel to increase the time of exposure to sunlight and enhance the complete efficiency of the FPV system. Moreover, floatovoltaics allow low maintenance and management costs and remove the requirement for costly land areas, which considerably decreases the cost of generating solar power and frees up the land. The water-based PV systems are beneficial in several aspects such as reduced algae growth and evaporation. Floatovoltaics additionally reduce PV`s operating temperature and costs of generating solar energy. As the water bodies are generally government-owned, it is easy to obtain permits for water bodies compared to land. Furthermore, FPVs provide shade assisting the algae to bloom and reducing water evaporation, and although power generation on individual sites is not equal to ground mounts, the FPVs are suitable for the cities having a limited roof or land space.
Global Floating Solar Panels market is projected to register significant growth over the near-to-long term. The market, estimated at 1.6 Thousand MW in 2021 is projected to reach 4.8 Thousand MW by 2026, registering a compounded annual growth rate (CAGR) of 33.7% over the analysis period. Asia-Pacific represents the largest regional market for Floating Solar Panels, accounting for an estimated 62.2% share of the global total in 2020. The market, estimated at 771.6 MW in 2021 is projected to reach 2.7 Thousand MW by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 59.4% over the analysis period. The market is expected to progress steadily to evolve as a major regional market for Floating Solar Panels, supported by various factors conducive to healthy growth.
Advantages related to setting up FPV panel plants in comparison with traditional plants are anticipated to boost the FPV panels` market growth. Shifting preference towards renewable energy resources such as solar and wind for power generation, rise in investments for renewable resources of energy, and various government initiatives to encourage solar energy are the prime factors driving the FPV panels` market growth. Generally, 1 MW of FPV plant covers water bodies of nearly 7 to 10 hectares, conserves water of 15 MI, and generates electricity of 1500 MWh. However, the FPV panels` overall cost is much high compared to the stationary solar panels, which is estimated to be the key factor hindering the FPV panels` market growth. Additionally, increased demand for energy, rising solar installers` networks, and decreased prices of FPV technology are estimated to augment the growth of the FPV panels` market.
Demand for FPV panels will also be supported by the fact that FPV panels` installation doesn`t require colossal land areas and the FPV projects are cost-efficient. FPV panel projects are possible to set up on unused water bodies, which are anticipated to be the prime driving factor for the FPV panels` market growth. Countries like India, China, Germany, the USA, and Japan emerged as solar powerhouses, and the growing solar energy-based electricity production, in turn, boosted the market growth of FPV panels. The US has over 24,000 water bodies that are manmade which are anticipated to be useful in FPV development, as man-Made water bodies are easy to manage and have infrastructure and roads in place. The untapped regions` exploration such as Russia and Azerbaijan for growth, too, is estimated to benefit the FPV panels` market. The offshore segment based on location dominates the FPV panels` global market and is anticipated to continue dominating in years to come. However, forceful water currents and tides are estimated to cause issues or damage the FPV panels. Furthermore, high construction and maintenance costs of seawater plants are estimated to cause the inland segment to observe increased growth. The Netherlands is the epicenter of inland FPVs and GroenLeven owns a huge FPV farm in Europe promising a steady income for people willing to rent the locations that have the ability to host FPVs.
Select Competitors (Total 43 Featured) -
- Ciel & Terre international
- GCL-SI
- Hanwha Group.
- JA SOLAR Technology Co.,Ltd.
- JinkoSolar Holding Co., Ltd.
- KYOCERA Corporation
- LONGi Solar
- Ocean Sun AS
- QuantSolar
- SUNGROW
- Swimsol GmbH
- Tata Power Solar Systems Ltd.
- Topper Floating Solar PV Mounting Manufacturer Co. Ltd.
- Trina Solar
- Vikram Solar Limited
Read the full report: https://www.reportlinker.com/p06031587/?utm_source=GNW
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
The Race Between the Virus & Vaccines Intensifies. Amidst this
Chaotic Battle, Where is the World Economy Headed?
Progress on Vaccinations: Why Should Businesses Care?
With IMF’s Upward Revision of Global GDP Forecasts, Most
Companies are Bullish about an Economic Comeback Despite a
Continuing Pandemic
A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by
New Variants Comes Into Play: World Economic Growth
Projections (Real GDP, Annual % Change) for 2020 through 2022
Easing Unemployment Levels in 2021 Although Moderate Will
Infuse Hope for Industries Reliant on Consumer Discretionary
Incomes: Global Number of Unemployed People (In Million) for
Years 2019, 2020, 2021, and 2022
How the Clean Technologies Industry is Impacted by the Pandemic &
What’s the New Normal?
Global Clean Technologies Market Reset & Trajectory - Growth
Outlook (In %) for Years 2019 through 2025
A Green Recovery is On the Agenda for Most Countries Worldwide:
The New Normal in Global Clean Technologies Market by Major
Geographies Analyzed by Annual % Growth for Years 2019
through 2025
COVID-19 Sharpens the Focus on the Environment
What’s In-Store for Renewable Resources?
Recommendations for the Power & Energy Sector in the Post-
Pandemic Era
Floating Solar Panels - Global Key Competitors Percentage
Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for
Players Worldwide in 2022 (E)
Floating Photovoltaic (FPV) Systems: A Prelude
An Introduction to Floating Solar Panels
History and the Future
Floating PVs: More Advantages over Land-Based Systems
Global Market Prospects & Outlook
Analysis by Type
World Floating Solar Panels Market by Type (2021 & 2027):
Percentage Breakdown of Demand for Stationary, and Tracking
Regional Analysis
World Floating Solar Panels Market - Geographic Regions Ranked
by CAGR (Volume) for 2020-2027: China, Asia-Pacific, Europe,
USA, and Rest of World
Asia: The Juggernaut
Japan: The Leader in Floating Solar Power Generation
China Launches the World’s Biggest Floating Solar Plant
India Commissions the Country’s Largest Floating Solar Power Plant
Thailand’s ?Largest’ Project is Up and Running
The US Solar Power Industry Looking Up To FPVs
Competitive Scenario
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Floating Solar Panels Technology: Highly Efficient than Land
Based Solar Plants
Environmental Concerns and Floating Solar
Domestic Targets for Greenhouse Gas Emissions of Select
Regions/Countries
Global CO2 Emissions: Percentage Breakdown of Volume Emissions
by Fuel Type (2015, 2020, 2040 & 2050)
Significance of Floating Solar Power Plants in Cooling Down
Lakes in the face of Climate Change
Floating Solar Panels and the Use of Reservoirs and Manmade
Water Bodies
Floating Solar System Plays Pivotal Role in Cleaning Water
Offshore Floating Solar: A Potential Solar Energy Generation
Medium in High Seas
Growing Focus on Renewable Energy: A Strong Growth Driver
Government Boost to Solar Energy Adoption to Spur Market Momentum
Global Investments (US$ Billion) in Renewable Energy by Source:
2018
Leading Countries with Renewable Energy as % of Total Energy
Targets for Electricity Production from Renewable Energy
Sources in Select Countries
Estimated Global Power Generation Infrastructure Requirement:
(in US$ Billion) for China, India, Latin America, and North
America over the Period 2010-2030
Robust Demand for Electricity Closer to the Point of
Consumption Drives Proliferation of FPVs
Projected Global Demand for Electricity (MWh): 2015, 2020,
2025, 2030 & 2035
Global Primary Energy Consumption (Billion toe): Growth
Trajectory for the Period 1990-2040
Global Energy Consumption (Billion toe) by Country/Region:
(1995, 2017 and 2040): Breakdown for USA, China, India, Russia,
Brazil, EU, Middle East and Rest of World
Microgrids and Distributed Generation Transform Electricity
Management Forever
Global Distributed Generation Capacity in Microgrids by Type:
(2021): Percentage Breakdown of Capacity Installations for
Diesel Generators, Fuel cells, Natural Gas Generators, Small
Wind Turbines, Solar PV Systems, and Others
Distributed Generation Complemented with FPVs: Futuristic
Enabler of Smart Cities
Number of Smart Cities Worldwide by Geographic Region (2025E)
Favorable Demographic and Urbanization Trends Strengthens
Market Prospects
World Population by Geographic Region (2000-2050) (in Millions)
Rapid Urbanization: A Mega Growth Driver for Floating Solar Panels
World Population Urbanization Rate (%) by Region/Country: 2016 &
2040
Challenges and Issues
Challenges Faced by Designers of Floating Solar Panels
Installation of Floating PVs versus Other Photovoltaic Systems
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Recent Past, Current & Future Analysis for
Floating Solar Panels by Geographic Region - USA, China,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Demand in MW for Years 2020 through 2027 and
% CAGR
Table 2: World 7-Year Perspective for Floating Solar Panels by
Geographic Region - Percentage Breakdown of Volume Demand for
USA, China, Europe, Asia-Pacific and Rest of World Markets for
Years 2021 & 2027
Table 3: World Recent Past, Current & Future Analysis for
Stationary by Geographic Region - USA, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Demand in MW for Years 2020 through 2027 and % CAGR
Table 4: World 7-Year Perspective for Stationary by Geographic
Region - Percentage Breakdown of Volume Demand for USA, China,
Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 5: World Recent Past, Current & Future Analysis for
Tracking by Geographic Region - USA, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Demand in MW for Years 2020 through 2027 and % CAGR
Table 6: World 7-Year Perspective for Tracking by Geographic
Region - Percentage Breakdown of Volume Demand for USA, China,
Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
Floating Solar Panels Market Presence - Strong/Active/Niche/
Trivial - Key Competitors in the United States for 2022 (E)
Table 7: USA Recent Past, Current & Future Analysis for
Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 8: USA 7-Year Perspective for Floating Solar Panels by
Type - Percentage Breakdown of Volume Demand for Stationary and
Tracking for the Years 2021 & 2027
CHINA
Floating Solar Panels Market Presence - Strong/Active/Niche/
Trivial - Key Competitors in China for 2022 (E)
Table 9: China Recent Past, Current & Future Analysis for
Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 10: China 7-Year Perspective for Floating Solar Panels by
Type - Percentage Breakdown of Volume Demand for Stationary and
Tracking for the Years 2021 & 2027
EUROPE
Floating Solar Panels Market Presence - Strong/Active/Niche/
Trivial - Key Competitors in Europe for 2022 (E)
Table 11: Europe Recent Past, Current & Future Analysis for
Floating Solar Panels by Geographic Region - Netherlands and
Rest of Europe Markets - Independent Analysis of Annual Demand
in MW for Years 2020 through 2027 and % CAGR
Table 12: Europe 7-Year Perspective for Floating Solar Panels
by Geographic Region - Percentage Breakdown of Volume Demand
for Netherlands and Rest of Europe Markets for Years 2021 &
2027
Table 13: Europe Recent Past, Current & Future Analysis for
Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 14: Europe 7-Year Perspective for Floating Solar Panels
by Type - Percentage Breakdown of Volume Demand for Stationary
and Tracking for the Years 2021 & 2027
NETHERLANDS
Table 15: Netherlands Recent Past, Current & Future Analysis
for Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 16: Netherlands 7-Year Perspective for Floating Solar
Panels by Type - Percentage Breakdown of Volume Demand for
Stationary and Tracking for the Years 2021 & 2027
REST OF EUROPE
Table 17: Rest of Europe Recent Past, Current & Future Analysis
for Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 18: Rest of Europe 7-Year Perspective for Floating Solar
Panels by Type - Percentage Breakdown of Volume Demand for
Stationary and Tracking for the Years 2021 & 2027
ASIA-PACIFIC
Floating Solar Panels Market Presence - Strong/Active/Niche/
Trivial - Key Competitors in Asia-Pacific for 2022 (E)
Table 19: Asia-Pacific Recent Past, Current & Future Analysis
for Floating Solar Panels by Geographic Region - India, South
Korea, Taiwan and Rest of Asia-Pacific Markets - Independent
Analysis of Annual Demand in MW for Years 2020 through 2027 and
% CAGR
Table 20: Asia-Pacific 7-Year Perspective for Floating Solar
Panels by Geographic Region - Percentage Breakdown of Volume
Demand for India, South Korea, Taiwan and Rest of Asia-Pacific
Markets for Years 2021 & 2027
Table 21: Asia-Pacific Recent Past, Current & Future Analysis
for Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 22: Asia-Pacific 7-Year Perspective for Floating Solar
Panels by Type - Percentage Breakdown of Volume Demand for
Stationary and Tracking for the Years 2021 & 2027
INDIA
Floating Solar Panels Market Presence - Strong/Active/Niche/
Trivial - Key Competitors in India for 2022 (E)
Table 23: India Recent Past, Current & Future Analysis for
Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 24: India 7-Year Perspective for Floating Solar Panels by
Type - Percentage Breakdown of Volume Demand for Stationary and
Tracking for the Years 2021 & 2027
SOUTH KOREA
Table 25: South Korea Recent Past, Current & Future Analysis
for Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 26: South Korea 7-Year Perspective for Floating Solar
Panels by Type - Percentage Breakdown of Volume Demand for
Stationary and Tracking for the Years 2021 & 2027
TAIWAN
Table 27: Taiwan Recent Past, Current & Future Analysis for
Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 28: Taiwan 7-Year Perspective for Floating Solar Panels
by Type - Percentage Breakdown of Volume Demand for Stationary
and Tracking for the Years 2021 & 2027
REST OF ASIA-PACIFIC
Table 29: Rest of Asia-Pacific Recent Past, Current & Future
Analysis for Floating Solar Panels by Type - Stationary and
Tracking - Independent Analysis of Annual Demand in MW for the
Years 2020 through 2027 and % CAGR
Table 30: Rest of Asia-Pacific 7-Year Perspective for Floating
Solar Panels by Type - Percentage Breakdown of Volume Demand
for Stationary and Tracking for the Years 2021 & 2027
REST OF WORLD
Table 31: Rest of World Recent Past, Current & Future Analysis
for Floating Solar Panels by Type - Stationary and Tracking -
Independent Analysis of Annual Demand in MW for the Years 2020
through 2027 and % CAGR
Table 32: Rest of World 7-Year Perspective for Floating Solar
Panels by Type - Percentage Breakdown of Volume Demand for
Stationary and Tracking for the Years 2021 & 2027
IV. COMPETITION
Total Companies Profiled: 43
Read the full report: https://www.reportlinker.com/p06031587/?utm_source=GNW
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