Reliable Data You Can Trust
Reliable Data You Can Trust
A recent
report published by Infinium Global Research on floating solar panels market
provides an in-depth analysis of segments and sub-segments in the global as well
as regional floating solar panels market. The study also highlights the impact
of drivers, restraints, and macro indicators on the global and regional
floating solar panels market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of the global floating solar panels market. According to the report, the global
floating solar panels market is projected to grow at a CAGR of 44% over the
forecast period of 2019-2025.
Solar power
installations continue to grow worldwide. The industry facing several new
challenges related to land insufficiency and appropriate roof availability for
photovoltaics (PV) installations on commercial and large-scale facilities. The
development of floating solar power plants is one of the best and innovative
alternatives that are being considered as a valuable option for utility-scale
and large commercial projects. Floating Solar panels are photovoltaics arrays
similar to ground-mounting type installations. The technology is exclusively
prevalent in Japan, where they hold 56 of the 70 largest floating PV systems.
The technology is generally suitable for areas that are land-constrained and
where there's a major conflict between solar infringing on farmland. The cost
of acquiring and developing land is becoming a huge part of the cost of a
large-scale solar project. Many islands are adopting floating solar PV systems
due to the high cost of land.
Growing
demand for renewable alternatives for energy harvesting due to the rapid
reduction of renewable energy sources is majorly driving the growth of the
global floating solar panels market. Floating solar panels eliminate the
requirement of expensive land areas, especially farmlands near any substation,
for harvesting solar power. It has a number of economic benefits compared to
relying on traditional solar panels. Floating solar panels can also be
installed in hydroelectric plants that will help to drive the market in the
future. However, high installation cost remains an impediment to market
proliferation. Moreover, the increasing demand for renewable energy owing to
the exhaustion of natural resources such as crude oil, coal, and natural gas is
expected to provide growth opportunities to the market players.
Geographically,
Asia-pacific dominates the floating solar panels market due to limited
availability of land for building solar power plants and rapid exhaustion of
non-renewable energy sources such as fossil fuels. The development of smart
cities in Asia-Pacific will drive the demand for floating solar panels that is
an abundant and clean source of energy. North America is the second largest
market for floating solar panels market due to the high penetration of advanced
technology that is being utilized for harvesting energy from renewable
resources in order to meet the growing energy demand.
The report on
global floating solar panels market covers segments such as product, and
deployment. On the basis of product, the sub-markets include stationary
floating solar panels, and tracking floating solar panels. On the basis of
deployment, the sub-markets include onshore, and offshore.
The report
provides profiles of the companies in the market such as Sharp Corporation JA
Solar Co., Ltd., Trina Solar Limited, Yingli Solar, Kyocera Corporation, Ciel
& Terre International, SPG Solar, Inc., NOVATON AG, Solaris Synergy,
Pristine Sun LLC, and other companies.
The report
provides deep insights into the demand forecasts, market trends, and micro and
macro indicators. In addition, this report provides insights into the factors
that are driving and restraining the growth in this market. Moreover, The
IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of floating solar panels market. Moreover, the
study highlights current market trends and provides forecast from 2019-2025. We
also have highlighted future trends in the market that will affect the demand
during the forecast period. Moreover, the competitive analysis given in each
regional market brings an insight into the market share of the leading players.
Please Choose One of them.