What is Marine Solar Panels?
Marine solar panels are becoming more popular for powerboats or ships as it reduces the cost of maintenance and running a boat. Marine solar panels are different from regular solar panels as it has been designed to withstand harsh conditions in the sea or ocean. Increasing demand for electricity and rising fuel prices has led the world towards the adoption of renewable energy sources for energy generation and to meet the global electricity demand. Further, the increasing installation of floating solar power plants in the coastal regions will create significant opportunities for the marine solar panels market.
The market study is broken down by Type (Semi-Flexible Marine Solar Panels, Semi-Rigid Walk on Marine Solar Panels, Rigid Marine Solar Panels and Portable Solar Panels), by Application (Power Boats, Offshore Vessels, Onshore Vessels and Others) and major geographies with country level break-up.
The market is highly fragmented with a large number of vendors and companies exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Manufacturers from United States will contribute to the maximum growth of Global Marine Solar Panels market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Eco Marine Power (Japan), Mission Solar (United States), Renogy (United States), SUNBEAMsystem (Sweden), Solarland (United States), Solbian (Italy), Nature Power Products (United States), LG Corporation (South Korea), HQST (United States), Canadian Solar (Canada), JinkoSolar (China), Metsolar (Lithuania), Newpowa (United States), Ameresco (United States) and SunWare GmbH & Co KG (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Marine Solar Panels market by Type, Application and Region.
On the basis of geography, the market of Marine Solar Panels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Marine Solar Panels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Amorphous will boost the Marine Solar Panels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Trend
- Increased Focus on the Technological Improvements of Marine Solar Panels
- High Adoption of Horizontal Installed PV Panels for Ships Due to its More Efficiency as Compared to Vertical Type
Market Drivers
- Surging Demand for Solar Panels for Application in Power Boats to Reduce the Maintenance Cost
- High Growth of Portable and Semi-Flexible Marine Solar Panels Among the Customers
- Increasing Development of Floating Solar Power Plants on the Sea or Ocean in Order to Generate Energy
- Growing Need for Renewable Energy Systems in Shipping Due to Increased Fuel Cost
Opportunities
- Rapidly Growing Adoption of Power Boats in the Coastal Regions Due to Increasing Popularity of Water Sports
- Increasing Initiative by the Governments in developing Economies to Create Awareness About the Renewable Energy
Restraints
- High Initial Investment Cost and Requirement of Sunlight to Produce Energy
Challenges
- Presence of a Large Number of Marine Solar Panel Manufacturers in the Market
- Requirement of Lot of Space and Heavy Weight of Some Types of Solar Panels May Limit the Adoption
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Marine Solar Panels Manufacturers, Marine Solar Panels Suppliers and Distributors, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Eco Marine Power (Japan), Mission Solar (United States), Renogy (United States), SUNBEAMsystem (Sweden), Solarland (United States), Solbian (Italy), Nature Power Products (United States), LG Corporation (South Korea), HQST (United States), Canadian Solar (Canada), JinkoSolar (China), Metsolar (Lithuania), Newpowa (United States), Ameresco (United States) and SunWare GmbH & Co KG (Germany) etc.
2. Can we have customized study for Marine Solar Panels Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Marine Solar Panels Market by 2027?
Analysts at AMA estimates Marine Solar Panels Market to reach USD Million by 2027.