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According to our LPI (LP Information) latest study, the global Floating Solar System market size was valued at US$ 254.9 million in 2023. With growing demand in downstream market, the Floating Solar System is forecast to a readjusted size of US$ 692.4 million by 2030 with a CAGR of 15.3% during review period.
The research report highlights the growth potential of the global Floating Solar System market. Floating Solar System are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Floating Solar System. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Floating Solar System market.
Floating solar or floating photovoltaics (FPV), sometimes called floatovoltaics, is solar panels mounted on a structure that floats on a body of water, typically a reservoir or a lake. Floating solar systems help landowners benefit from otherwise underused bodies of water, such as coal quarries, mineral extraction pits or reservoirs. As opposed to conventional rooftop solar panels, floating ones perform between 5% to 15% better because of the cooling effect of the water, and are not impacted by shading from other buildings.
Global key floating solar system players include Sungrow, Ciel and Terre and BayWa r.e. etc. The top 3 companies hold a share about 59%. Asia-Pacific is the largest market with a share about 81%, followed by Europe and South America.
In terms of product, PV Modules is the largest segment with a share about 44%. And in terms of applications, the largest application is utility with a share about 87%.
Key Features:
The report on Floating Solar System market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Floating Solar System market. It may include historical data, market Segmentation by Type (e.g., PV Modules, Floating Body and Anchoring System), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Floating Solar System market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Floating Solar System market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Floating Solar System industry. This include advancements in Floating Solar System technology, Floating Solar System new entrants, Floating Solar System new investment, and other innovations that are shaping the future of Floating Solar System.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Floating Solar System market. It includes factors influencing customer ' purchasing decisions, preferences for Floating Solar System product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Floating Solar System market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Floating Solar System market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Floating Solar System market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Floating Solar System industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Floating Solar System market.
Market Segmentation:
Floating Solar System market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Segmentation by type
- PV Modules
- Floating Body and Anchoring System
- Inverter
- Others
Segmentation by application
- Utility
- Residential & Commercial
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Sungrow
- Ciel and Terre
- BayWa r.e.
- LS Electric Co., Ltd.
- Trina Solar
- Ocean Sun
- Adtech Systems
- Waaree Energies Ltd
- Isigenere (Isifloating)
- Swimsol
- Yellow Tropus