Floating Solar Panels Market Size, Trends and Insights By Type (Tracking Floating Solar Panels, Stationary Floating Solar Panels), By End User (Agriculture, Commercial, Industrial, Residential, Government), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Ciel et Terre International
- Sungrow Power Supply Co. Ltd.
- Kyocera Corporation
- JA Solar Holdings Co. Ltd.
- Trina Solar Limited
- Others
Reports Description
Global Floating Solar Panels Market was valued at USD 37.3 Million in 2024 and is expected to reach USD 190.6 Million by 2033, at a CAGR of 23.3% during the forecast period 2024 – 2033.
Floating solar panels are photovoltaic panels installed on a building that floats on a body of water, such as a reservoir, river, or ocean. They are often referred to as floating photovoltaic (FPV) systems or floating solar farms.
Floating Solar Panels Market: Growth Factors
Rising emphasis on renewable power generation
The market for floating solar panels has been significantly influenced by the growing emphasis on renewable power generation. Renewable energy options are growing as traditional energy sources come under investigation because of environmental concerns.
Using water features like ponds, lakes, and reservoirs, floating solar panels provide a novel way to address land use problems and improve the efficiency of energy production through natural cooling effects. Furthermore, the growing implementation of floating solar systems is consistent with initiatives to optimize spatial usage and tackle land shortage issues.
Globally, governments and energy corporations are investing more and more in floating solar technology because of cost-effectiveness, regulatory incentives, and the goal of diversifying energy portfolios while cutting carbon emissions. The increasing need for sustainable energy solutions is driving the floating solar panels market forward as a promising renewable energy option.
For instance, with cleaner fuel technology, OSRTC improves 38% of the fleet to reduce carbon emissions by 11 million tons. Tata Steel Mining and GAIL strike an agreement to get clean fuel. India claims that Russia and Brazil are interested in its proposed alliance for biofuels.
Government incentives and subsidies
Government grants and incentives are essential for driving the floating solar panel sector. These incentives frequently take the form of grants, tax breaks, or laws designed to encourage the use of renewable energy. Governments promote investment in floating solar projects by providing such incentives, increasing the projects’ financial viability for companies and investors.
Furthermore, subsidies can lower the initial costs of floating solar systems, which shortens the payback time and makes the projects more appealing to stakeholders. In addition, laws and incentives that are supportive of the floating solar business foster a competitive and innovative ecosystem that lowers prices and promotes growth in the sector.
In general, government grants and incentives play a significant role in hastening the adoption of floating solar panels and advancing the transition towards sustainable energy sources. For instance, India has nearly 170MW of floating solar projects in operation compared to 57.7 GW total installed solar capacity.
Floating Solar Panels Market: Restraints
Unpredictability of wind conditions
In water bodies where floating solar arrays are situated, strong winds can create turbulence and waves that could damage or shift the panels, frameworks for support, and grounding systems. The possibility of equipment failure and maintenance expenses are raised by this instability. Furthermore, shifting wind patterns may have an effect on the floating photovoltaic panels’ stability and orientation, which might affect the panels’ overall operation and effectiveness in generating electricity.
Unpredictable winds can further complicate the planning and construction of floating solar installations by obstructing layout and configuration optimization for optimal energy generation. To limit the effects of wind unpredictability on floating solar projects, addressing these difficulties needs creative technical solutions, such as strong anchoring systems, adaptable floating platforms, and cutting-edge monitoring technology.
Floating Solar Panels Market: Opportunities
Abundance of large surface area of water bodies
One important factor driving the market for floating solar panels is the quantity of enormous usable surface area on aquatic bodies. This large surface area presents a desirable chance to install solar panels, reducing the need for additional land and possibly resolving conflicts between land uses.
Floating solar panels make it possible to generate renewable energy from underused resources like reservoirs, lakes, and ponds by using this area. Furthermore, the presence of water bodies can result in fewer shading barriers and more continuous sunshine exposure, both of which can improve the effectiveness of solar panels.
In addition to producing electricity, floating solar panels may also assist in lowering water evaporation, managing the spread of algae, and enhancing water quality. Therefore, the abundance of surface areas on aquatic bodies offers a strong chance for the development and adoption of floating solar panels worldwide.
Floating Solar Panels Market: Segmentation Analysis
Global Floating Solar Panels market is segmented by type, end user, and region. Based on type, the market is classified into tracking floating solar panels, and stationary floating solar panels. Stationary floating solar panels dominated the market in 2023 with a market share of 80.7% and are expected to keep their dominance during the forecast period 2024-2033.
Stationary floating solar panels are crucial in propelling the floating solar panels business owing to multiple benefits. These systems increase the efficiency of land utilization, especially in heavily populated places where available land is limited, by installing solar panels on water bodies. Water features also naturally cool solar panels, increasing their longevity and performance.
By guaranteeing stability and dependability, the fixed architecture allays worries about panel movement. Furthermore, by lowering evaporation and algal development, floating solar panels help to conserve water and maintain aquatic ecosystems.
To take advantage of these advantages, stakeholders are putting more money into stationary floating solar panel projects, which is propelling the market’s expansion. Their work addresses land issues while highlighting the revolutionary possibility of using water surfaces to produce sustainable energy.
Based on end users, the market is classified into agriculture, commercial, industrial, residential, and government. Industrial dominated the market in 2023 with a market share of 40.5% and is expected to keep its dominance during the forecast period 2024-2033.
Large water bodies, such as reservoirs or industrial ponds, are frequently found in industrial facilities, including manufacturing plants and refineries, making the installation of floating solar panels a practical solution. By utilizing the advantage of underutilized water surfaces, these facilities can maximize their land usage and increase their ability to generate renewable energy.
In addition, to lower their energy expenses and carbon footprint, industrial players are progressively embracing sustainability goals and looking for renewable energy sources. Furthermore, floating rooftop solar panels are appealing for industrial applications because of their scalability and flexibility, which enable simple extension and reconfiguration to satisfy changing energy requirements.
Overall, the use of floating solar technology by the industrial sector is propelling market expansion through the promotion of environmental stewardship, creativity, and improved energy efficiency.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 37.3 Million |
| Projected Market Size in 2033 | USD 190.6 Million |
| Market Size in 2023 | USD 35.7 Million |
| CAGR Growth Rate | 23.3% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, End User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Floating Solar Panels Market: Regional Analysis
By region, Floating Solar Panels market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Floating Solar Panels market in 2023 with a market share of 40.5% and is expected to keep its dominance during the forecast period 2024-2033.
The region’s plentiful water resources, such as lakes, ponds, and dams, present numerous possibilities for the installation of floating solar power panels. These bodies of water frequently coexist with other infrastructure, such as irrigation reservoirs or hydroelectric dams, providing complementary advantages and effective land use.
Furthermore, the Asia-Pacific region’s nations deal with serious issues such as land shortages and conflicting land-use objectives like urbanization and agriculture. By taking advantage of normally unutilized water surfaces, floating solar panels offer a workable option that reduces land limitations and provides a different kind of renewable energy.
The region’s steadfast dedication to environmental objectives and renewable energy targets also encourages the deployment of floating solar technology. Several encouraging laws, subsidies, and regulatory frameworks have been put in place by governments in Asia-Pacific, notably those in Japan, India, China, and South Korea, to promote investment in renewable energy projects, notably floating solar arrays.
Moreover, these projects are growing financially possible and appealing to investors in the Asia-Pacific area because of the falling costs of solar photovoltaic (PV) technology and developments in floating solar panel design and installation procedures.
In conclusion, the advantages floating solar panels provide to the environment, such as decreased water evaporation, suppressed algae development, and enhanced water quality, are consistent with the area’s emphasis on tackling environmental sustainability and climate change.
The Asia-Pacific area is a major participant in the global renewable energy landscape because of its advantageous geographical circumstances, supporting regulations, technology breakthroughs, and environmental considerations. These factors have combined to fuel the expansion of the floating solar panels market.
Floating Solar Panels Market: Recent Developments
- In March 2023, Sungrow FPV, won a major deal to supply its cutting-edge floating solar panels for Indonesia’s most expanding floating solar project. System deliveries from Sungrow FPV were anticipated to commence the 192 MW Cirata floating solar venture.
- In April 2023, Canadian company Brookfield Renewable Energy disclosed plans to construct a 100 MW floating solar project in Brazil.
- In July 2023, Sarawak Energy entered into a partnership with China-based Trina Solar business to launch its first substantial floating solar power project.
List of the prominent players in the Floating Solar Panels Market:
- Ciel et Terre International
- Sungrow Power Supply Co. Ltd.
- Kyocera Corporation
- JA Solar Holdings Co. Ltd.
- Trina Solar Limited
- SPG Solar
- Floating Solar UK Ltd.
- Vikram Solar Limited
- Yingli Solar
- Canadian Solar Inc.
- Solaris Synergy Ltd.
- Suntech Power Holdings Co. Ltd.
- Solaris Energy Pvt. Ltd.
- Faraday Solar
- First Solar Inc.
- Hanwha Q CELLS Co. Ltd.
- REC Solar Holdings AS
- SolarWorld AG
- SunPower Corporation
- Sharp Corporation
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Floating Solar Panels Market is segmented as follows:
By Type
- Tracking Floating Solar Panels
- Stationary Floating Solar Panels
By End User
- Agriculture
- Commercial
- Industrial
- Residential
- Government
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Floating Solar Panels Market, (2024 – 2033) (USD Million)
- 2.2 Global Floating Solar Panels Market: snapshot
- Chapter 3. Global Floating Solar Panels Market – Industry Analysis
- 3.1 Floating Solar Panels Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising emphasis on renewable power generation
- 3.2.2 Government incentives and subsidies
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By End User
- Chapter 4. Global Floating Solar Panels Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Floating Solar Panels Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Floating Solar Panels Market – Type Analysis
- 5.1 Global Floating Solar Panels Market Overview: By Type
- 5.1.1 Global Floating Solar Panels Market Share, By Type, 2023 and 2033
- 5.2 Tracking Floating Solar Panels
- 5.2.1 Global Floating Solar Panels Market by Tracking Floating Solar Panels, 2024 – 2033 (USD Million)
- 5.3 Stationary Floating Solar Panels
- 5.3.1 Global Floating Solar Panels Market by Stationary Floating Solar Panels, 2024 – 2033 (USD Million)
- 5.1 Global Floating Solar Panels Market Overview: By Type
- Chapter 6. Global Floating Solar Panels Market – End User Analysis
- 6.1 Global Floating Solar Panels Market Overview: By End User
- 6.1.1 Global Floating Solar Panels Market Share, By End User, 2023 and 2033
- 6.2 Agriculture
- 6.2.1 Global Floating Solar Panels Market by Agriculture, 2024 – 2033 (USD Million)
- 6.3 Commercial
- 6.3.1 Global Floating Solar Panels Market by Commercial, 2024 – 2033 (USD Million)
- 6.4 Industrial
- 6.4.1 Global Floating Solar Panels Market by Industrial, 2024 – 2033 (USD Million)
- 6.5 Residential
- 6.5.1 Global Floating Solar Panels Market by Residential, 2024 – 2033 (USD Million)
- 6.6 Government
- 6.6.1 Global Floating Solar Panels Market by Government, 2024 – 2033 (USD Million)
- 6.1 Global Floating Solar Panels Market Overview: By End User
- Chapter 7. Floating Solar Panels Market – Regional Analysis
- 7.1 Global Floating Solar Panels Market Regional Overview
- 7.2 Global Floating Solar Panels Market Share, by Region, 2023 & 2033 (USD Million)
- 7.3. North America
- 7.3.1 North America Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.3.1.1 North America Floating Solar Panels Market, by Country, 2024 – 2033 (USD Million)
- 7.3.1 North America Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.4 North America Floating Solar Panels Market, by Type, 2024 – 2033
- 7.4.1 North America Floating Solar Panels Market, by Type, 2024 – 2033 (USD Million)
- 7.5 North America Floating Solar Panels Market, by End User, 2024 – 2033
- 7.5.1 North America Floating Solar Panels Market, by End User, 2024 – 2033 (USD Million)
- 7.6. Europe
- 7.6.1 Europe Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.6.1.1 Europe Floating Solar Panels Market, by Country, 2024 – 2033 (USD Million)
- 7.6.1 Europe Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.7 Europe Floating Solar Panels Market, by Type, 2024 – 2033
- 7.7.1 Europe Floating Solar Panels Market, by Type, 2024 – 2033 (USD Million)
- 7.8 Europe Floating Solar Panels Market, by End User, 2024 – 2033
- 7.8.1 Europe Floating Solar Panels Market, by End User, 2024 – 2033 (USD Million)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.9.1.1 Asia Pacific Floating Solar Panels Market, by Country, 2024 – 2033 (USD Million)
- 7.9.1 Asia Pacific Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.10 Asia Pacific Floating Solar Panels Market, by Type, 2024 – 2033
- 7.10.1 Asia Pacific Floating Solar Panels Market, by Type, 2024 – 2033 (USD Million)
- 7.11 Asia Pacific Floating Solar Panels Market, by End User, 2024 – 2033
- 7.11.1 Asia Pacific Floating Solar Panels Market, by End User, 2024 – 2033 (USD Million)
- 7.12. Latin America
- 7.12.1 Latin America Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.12.1.1 Latin America Floating Solar Panels Market, by Country, 2024 – 2033 (USD Million)
- 7.12.1 Latin America Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.13 Latin America Floating Solar Panels Market, by Type, 2024 – 2033
- 7.13.1 Latin America Floating Solar Panels Market, by Type, 2024 – 2033 (USD Million)
- 7.14 Latin America Floating Solar Panels Market, by End User, 2024 – 2033
- 7.14.1 Latin America Floating Solar Panels Market, by End User, 2024 – 2033 (USD Million)
- 7.15. The Middle-East and Africa
- 7.15.1 The Middle-East and Africa Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.15.1.1 The Middle-East and Africa Floating Solar Panels Market, by Country, 2024 – 2033 (USD Million)
- 7.15.1 The Middle-East and Africa Floating Solar Panels Market, 2024 – 2033 (USD Million)
- 7.16 The Middle-East and Africa Floating Solar Panels Market, by Type, 2024 – 2033
- 7.16.1 The Middle-East and Africa Floating Solar Panels Market, by Type, 2024 – 2033 (USD Million)
- 7.17 The Middle-East and Africa Floating Solar Panels Market, by End User, 2024 – 2033
- 7.17.1 The Middle-East and Africa Floating Solar Panels Market, by End User, 2024 – 2033 (USD Million)
- Chapter 8. Company Profiles
- 8.1 Ciel et Terre International
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 Sungrow Power Supply Co. Ltd.
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Kyocera Corporation
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 JA Solar Holdings Co. Ltd.
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 Trina Solar Limited
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 SPG Solar
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 Floating Solar UK Ltd.
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 Vikram Solar Limited
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 Yingli Solar
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 Canadian Solar Inc.
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 Solaris Synergy Ltd.
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.12 Suntech Power Holdings Co. Ltd.
- 8.12.1 Overview
- 8.12.2 Financials
- 8.12.3 Product Portfolio
- 8.12.4 Business Strategy
- 8.12.5 Recent Developments
- 8.13 Solaris Energy Pvt. Ltd.
- 8.13.1 Overview
- 8.13.2 Financials
- 8.13.3 Product Portfolio
- 8.13.4 Business Strategy
- 8.13.5 Recent Developments
- 8.14 Faraday Solar
- 8.14.1 Overview
- 8.14.2 Financials
- 8.14.3 Product Portfolio
- 8.14.4 Business Strategy
- 8.14.5 Recent Developments
- 8.15 First Solar Inc.
- 8.15.1 Overview
- 8.15.2 Financials
- 8.15.3 Product Portfolio
- 8.15.4 Business Strategy
- 8.15.5 Recent Developments
- 8.16 Hanwha Q CELLS Co. Ltd.
- 8.16.1 Overview
- 8.16.2 Financials
- 8.16.3 Product Portfolio
- 8.16.4 Business Strategy
- 8.16.5 Recent Developments
- 8.17 REC Solar Holdings AS
- 8.17.1 Overview
- 8.17.2 Financials
- 8.17.3 Product Portfolio
- 8.17.4 Business Strategy
- 8.17.5 Recent Developments
- 8.18 SolarWorld AG
- 8.18.1 Overview
- 8.18.2 Financials
- 8.18.3 Product Portfolio
- 8.18.4 Business Strategy
- 8.18.5 Recent Developments
- 8.19 SunPower Corporation
- 8.19.1 Overview
- 8.19.2 Financials
- 8.19.3 Product Portfolio
- 8.19.4 Business Strategy
- 8.19.5 Recent Developments
- 8.20 Sharp Corporation
- 8.20.1 Overview
- 8.20.2 Financials
- 8.20.3 Product Portfolio
- 8.20.4 Business Strategy
- 8.20.5 Recent Developments
- 8.21 Others.
- 8.21.1 Overview
- 8.21.2 Financials
- 8.21.3 Product Portfolio
- 8.21.4 Business Strategy
- 8.21.5 Recent Developments
- 8.1 Ciel et Terre International
List Of Figures
Figures No 1 to 21
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2033
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Ciel et Terre International
- Sungrow Power Supply Co. Ltd.
- Kyocera Corporation
- JA Solar Holdings Co. Ltd.
- Trina Solar Limited
- SPG Solar
- Floating Solar UK Ltd.
- Vikram Solar Limited
- Yingli Solar
- Canadian Solar Inc.
- Solaris Synergy Ltd.
- Suntech Power Holdings Co. Ltd.
- Solaris Energy Pvt. Ltd.
- Faraday Solar
- First Solar Inc.
- Hanwha Q CELLS Co. Ltd.
- REC Solar Holdings AS
- SolarWorld AG
- SunPower Corporation
- Sharp Corporation
- Others
FAQs
The restraints of the Floating Solar Panels market is unpredictability of wind conditions.
The major driver for the Floating Solar Panels market is rising emphasis on renewable power generation and government incentives and subsidies.
The “Tracking Floating Solar Panels” category dominated the market in 2023.
The key players in the market are Ciel et Terre International, Sungrow Power Supply Co. Ltd., Kyocera Corporation, JA Solar Holdings Co. Ltd., Trina Solar Limited, SPG Solar, Floating Solar UK Ltd., Vikram Solar Limited, Yingli Solar, Canadian Solar Inc., Solaris Synergy Ltd., Suntech Power Holdings Co. Ltd., Solaris Energy Pvt. Ltd., Faraday Solar, First Solar Inc., Hanwha Q CELLS Co. Ltd., REC Solar Holdings AS, SolarWorld AG, SunPower Corporation, Sharp Corporation, Others.
“Asia-Pacific” had the largest share in the Floating Solar Panels Market.
The global market is projected to grow at a CAGR of 23.3% during the forecast period, 2024-2033.
The Floating Solar Panels Market size was valued at USD 37.3 Million in 2024.