Floating Solar Panels Market is Estimated to Progress at a CAGR of 43.02% during the Forecast Period, TMR Report

News provided by

Jul 25, 2022, 09:30 ET

Floating solar panels are a relatively new, affordable, and dependable sustainable option for using unused water surfaces in lakes or reservoirs to generate renewable solar electricity, and their use has been growing
Water savings from reduced evaporation losses is estimated to propel the demand for floating solar panels during the forecast timeframe

WILMINGTON, Del., July 25, 2022 /PRNewswire/ -- The global floating solar panels market revenue was clocked at US$ 0.7 Bn in 2021. The global market is anticipated to progress at a CAGR of 43.02% during the forecast period, from 2022 to 2031.The global floating solar panels market size is projected to attain value of US$ 24.5 Bn by 2031. The quest for novel remedies and potentials for solar floating power plants is being driven by the rise in demand for renewable energy. The technology behind floating solar panels is based on that of ground-mounted solar panels, which is more developed and has a wider range of installation options. Floating solar panels advantages and disadvantages are expected to consider squarely by the companies before investing in solar plant projects.

One of the most popular ways to combat climate change is through use of solar energy. In order to improve the output of clean energy, more distributed PV (photovoltaic) solar systems are being placed on roofs and in solar farms. A novel product termed a floating solar panel has been developed as a result of ongoing research and development in the field of renewable energy. These panels consist of PV modules attached to floating platforms that are used in lakes, water reservoirs, and other suitable environments like oceans and seas.

Asia Pacific, which in 2021 held a significant share of 95.62% of the global floating market, offers immense growth potential to the floating solar panels companies. Due to the increase in solar energy investment by significant nations like Japan, India, and China, in the region, the market in Asia Pacific is likely to develop rapidly.

Get PDF Brochure for More Insights – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2952

Key Findings of Market Report

In terms of capacity, the market for floating solar panels was led by the above 5 MW category in 2021 with about 58.45% share. The total installed capacity of the floating solar farm exceeds 5 MW. The plant is rather huge overall, and installation is likely to take up a sizable amount of space. The plants in this capacity range are used for higher-power operations. Compared to plants from other categories, these plants have a higher cost of installation, which adds to the overall floating solar panels cost.
Based on type, the category of stationary floating solar panels accounted for 99.92% of the global market in 2021. Growth of the stationary floating solar panel category is anticipated to raise the demand for floating solar panels rises.
The market for floating solar panels is primarily being driven by the benefits of floating solar as compared to land-based solar systems and water conservation from drop in evaporation losses.

Ask for Special Discount on Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=2952

Global Floating Solar Panels Market: Growth Drivers

In order to ensure a thriving future for the floating solar panel market, a number of large-scale projects have been envisaged. The overall capital and operating costs of stationary solar panels as well as floating solar panels with sunlight tracking are markedly different. The need for these panels has been increased by the simple availability of stationary panels.
Major regions for floating solar panels include in North America and Europe. In 2021, these regions had respective market shares of 2.51% and 1.6 %. The Netherlands and the UK are major investors in renewable energy as a viable alternative energy source in Europe. Compared to other regions, the rest of the world has a limited market for floating solar panels.

Request a Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2952

Global Floating Solar Panels Market: Key Players

Some of the key market players are

KYOCERA Corporation
Ciel & Terre International
Sharp Corporation
Pristine Sun LLC
Trina Solar Limited
JA Solar Co., Ltd.

Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2952

Global Floating Solar Panels Market: Segmentation

Type

Stationary Floating Solar Panels
Solar-Tracking Floating Solar Panels
Capacity
Up to 1MW
1MW – 5MW
Above 5MW

Browse More Energy & Natural Resources Market Reports by TMR:

Power Management Services Market - Power Management Services Market to Surpass Value of US$ 6.9 Bn by 2031

Solar Trackers Market - Solar Trackers Market is likely to register a CAGR of 16.4% during the forecast period and is anticipated to reach a solar trackers market share of 37,196.86 MW by 2031

Solar Street Lighting Market - Solar Street Lighting Market is likely to register a CAGR of 16.24% during the forecast period and is anticipated to reach a solar street lighting market share of US$ 12.54 bn by 2027

Solar Ingot Wafer Market - Solar Ingot Wafer Market is likely to register a CAGR of 12.33% during the forecast period and is anticipated to reach a solar ingot wafer market share of US$ 70 bn by 2031

Solar Panel Recycling Market - Solar Panel Recycling Market is likely to register a CAGR of 37% during the forecast period and is anticipated to reach a solar panel recycling market share of US$ 600 mn by 2027

Solar PV Junction Box Market - Solar PV Junction Box Market is likely to register a CAGR of 8% during the forecast period and is anticipated to reach a solar pv junction box market share of US$ 2 Bn by 2031

Geothermal Power Generation Market - Geothermal Power Generation Market is likely to register a CAGR of 13.38% during the forecast period and is anticipated to reach a geothermal power generation market share of US$ 40.15 Bn by 2031

Geothermal Heat Pumps Market - Geothermal Heat Pumps Market is likely to register a CAGR of 13.1% during the forecast period and is anticipated to reach a geothermal heat pumps market share of US$ 505.47 Bn by 2031

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact Us:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]