Floating Solar Panels Market Scope
Floating solar panels is defined as refers to an array of solar panels on a structure that floats on a body of water, which is typically an artificial basin or a lake. It is also known as floating photovoltaic that is any sort of solar array and it floats on top of a body of water. Various advantages of floating solar panels such as no loss of valuable land space, higher solar panel performance, environmental benefits, among others. It has more efficiently at low temperature and have increased efficiency, owing to the cooling effect of water.
The market study is being classified by Type (Stationary Floating Solar Panels and Solar-Tracking Floating Solar Panels), by Application (Agriculture Ponds, Offshore Environment, Industrial Ponds, Man-Made Water Bodies and Others) and major geographies with country level break-up.
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global floating solar panels market can witness an upsurge in the forecast period Research Analyst at AMA predicts that Japan Manufacturers will contribute to the maximum growth of Global Floating Solar Panels market throughout the predicted period.
Gates Corporation (United States), Wuxi Suntech Power Co., Ltd., (China), Yingli Solar (China), SPG Solar, Inc. (United States), Ciel & Terre (France), Kyocera Corporation (Japan), Japan Mega Solar Power Co., (Japan), Suntech Power Holdings Co., Ltd., (China), Solaris Synergy (Bulgaria) and Trina Solar Limited (China) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Sharp Corporation. (Japan).
AdvanceMarketAnalytics has segmented the market of Global Floating Solar Panels market by Type, Application and Region.
On the basis of geography, the market of Floating Solar Panels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In March 2019, according to an article published by International Energy Agency, a minimum 80 GW of solar capacity was installed worldwide in 2018, a rise of more than 48% compared to that in 2019. Hence, this will, in turn, propel the growth of floating solar panels market.
- Rising Demand for Production capacity expansion
- Increased Government Initiatives and the Rapid Depletion of Fossil Fuels and Global Warming
- Increasing usage of solar panel in various application such as Residential, Commercial, among others
- Rising Demand from Emerging Economics such as China and India
- Increasing Focus on R&D Activities
- Lack of Resistance to Corrosion in Sea Water Restricts the Use of Floating Solar Panels
- A problem regarding Strict Safety and Environmental Regulations
- Higher Maintenance Cost and Increased Transmission Costs
Key Target AudienceManufactures of Floating Solar Panels, Research/Consultancy Firms, Technology Solution Providers and Software Solution Providers
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