Floating Solar Panels Market Report: 69% of Growth to Originate from APAC, Driven by Increasing Investments in Renewable Energy - Technavio
NEW YORK, July 29, 2022 /PRNewswire/ -- The floating solar panels market size is expected to grow by USD 775.85 million from 2021 to 2026, progressing at a CAGR of 16.89% as per the latest market report by Technavio. The increasing investments in renewable energy is one of the key drivers supporting the floating solar panels market growth. Advancing from fossil fuels to renewable sources, such as wind and solar, is the key to achieving economic, social, and environmental development. This can be attributed to the low cost required to manufacture PV system components due to technological advances that result in the reduction of the overall capital expenditure per MW of power generation. Several countries have been adopting renewables as the primary energy source. For instance, Mindanao, the Philippines, is witnessing an uptrend in renewable energy projects. Jose Layug Jr., the chairman of the National Renewable Energy Board, the Philippines, announced that the power mix of Mindanao is composed of 40% renewables, and the rest is non-renewables. This mix is likely to increase further, where the share of renewables is expected to grow during the forecast period.
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Floating Solar Panels Market: Segmentation Analysis
The report extensively covers the floating solar panels market segmented by product (stationary floating solar panels and tracking floating solar panels) and geography (APAC, North America, Europe, MEA, and South America).
Product Landscape
- Revenue Generating Segment - The floating solar panels market share growth in the stationary floating solar panels segment will be significant for revenue generation. The Stationary floating solar panels have a lower conversion efficiency than tracking floating solar panels due to their limited exposure to the sun. However, tracking solar panels have a higher cost associated with them than stationary floating solar panels. For a tracker to be economically viable, the additional cost of installing and maintaining the tracker over the lifetime of the system should be lower than the increased energy harvest from the solar PV system. In such projects, stationary solar panels are found to be more appropriate, especially in emerging and developing economies. Such factors will drive the segment growth during the forecast period.
Geography Landscape
- Regional Highlights - 69% of the market's growth will originate from APAC during the forecast period. Japan, China, and India are the key markets for floating solar panels market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The increased growth of the solar power industry will facilitate the floating solar panels market growth in APAC over the forecast period.
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Floating Solar Panels Market: Vendor Analysis
The floating solar panels market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- Ciel and Terre International
- JA Solar Technology Co. Ltd.
- JinkoSolar Holding Co. Ltd.
- Kyocera Corp.
- Ocean Sun AS
- Pristine Sun Corp.
- Sinovoltaics Group Ltd.
- Tata Sons Pvt. Ltd.
- Trina Solar Co. Ltd.
- Vikram Solar Ltd.
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Get ready to achieve excellent business outcomes from this exclusive Floating Solar Panels Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -
- What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
- What is the current trend taking place in the market space?
- Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
- What are market drivers, restraints, and challenges impacting demand & growth of the market?
- Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Floating Solar Panels Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don't wait, Make a strategic approach & boost your business goals with our Floating Solar Panels Market Forecast Report - Buy Now!
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- The solar central inverters market share is expected to increase by USD 3.81 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.43%.
Floating Solar Panels Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 16.89% |
Market growth 2022-2026 | USD 775.85 million |
Market structure | Fragmented |
YoY growth (%) | 16.66 |
Regional analysis | APAC, North America, Europe, MEA, and South America |
Performing market contribution | APAC at 69% |
Key consumer countries | Japan, China, the US, India, and the UK |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Ciel and Terre International, JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Kyocera Corp., Ocean Sun AS, Pristine Sun Corp., Sinovoltaics Group Ltd., Tata Sons Pvt. Ltd., Trina Solar Co. Ltd., and Vikram Solar Ltd. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview | If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
Table of Content
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 1
Exhibit 03: Key Finding 2
Exhibit 04: Key Finding 3
Exhibit 05: Key Finding 4
Exhibit 06: Key Finding 5
Exhibit 07: Key Finding 5
2. Market Landscape
2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market characteristics
2.2 Value chain analysis
Exhibit 10: Value chain analysis: Global renewable electricity market
2.2.1 Inputs
2.2.2 Operations
2.2.3 Distribution and logistics
2.2.4 Marketing and sales
2.2.5 Aftermarket and service
2.2.6 Industry innovations
3. Market Sizing
3.1 Market segment analysis
Exhibit 11: Market segments
3.2 Market size 2021
3.3 Market Definition
Exhibit 12: Offerings of vendors included in the market definition
3.4 Market outlook: Forecast for 2021 - 2026
Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 16: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 17: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 18: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 19: Threat of new entrants
4.5 Threat of substitutes
Exhibit 20: Threat of substitutes
4.6 Threat of rivalry
Exhibit 21: Threat of rivalry
4.7 Market condition
Exhibit 22: Market condition - Five forces 2021
5 Market Segmentation by Product
5.1 Market segments
Exhibit 23: Product - Market share 2021-2026 (%)
5.2 Comparison by Product
Exhibit 24: Comparison by Product
5.3 Stationery floating solar panels - Market size and forecast 2021-2026
Exhibit 25: Stationery floating solar panels - Market size and forecast 2021-2026 ($ million)
Exhibit 26: Stationery floating solar panels - Year-over-year growth 2021-2026 (%)
5.4 Tracking floating solar panels - Market size and forecast 2021-2026
Exhibit 27: Tracking floating solar panels - Market size and forecast 2021-2026 ($ million)
Exhibit 28: Tracking floating solar panels - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Product
Exhibit 29: Market opportunity by Product
6. Customer landscape
6.1 Overview
Technavio's customer landscape matrix compares Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate, and Key purchase criteria
Exhibit 30: Customer landscape?
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 31: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 32: Geographic comparison
7.3 APAC - Market size and forecast 2021-2026
Exhibit 33: APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 34: APAC - Year-over-year growth 2021-2026 (%)
7.4 Europe - Market size and forecast 2021-2026
Exhibit 35: Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 36: Europe - Year-over-year growth 2021-2026 (%)
7.5 North America - Market size and forecast 2021-2026
Exhibit 37: North America - Market size and forecast 2021-2026 ($ million)
Exhibit 38: North America - Year-over-year growth 2021-2026 (%)
7.6 MEA - Market size and forecast 2021-2026
Exhibit 39: MEA - Market size and forecast 2021-2026 ($ million)
Exhibit 40: MEA - Year-over-year growth 2021-2026 (%)
7.7 South America - Market size and forecast 2021-2026
Exhibit 41: South America - Market size and forecast 2021-2026 ($ million)
Exhibit 42: South America - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 43: Key leading countries
7.9 Market opportunity by geography
Exhibit 44: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increasing investments in renewable energy
8.1.2 Increasing benefits of floating solar panels
8.1.3 Increasing governmental support
8.2 Market challenges
8.2.1 Technical challenges
8.2.2 Intermittency in solar power generation
8.2.3 Competition from alternate sources of energy
Exhibit 45: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increasing conversion efficiency of solar PVs
8.3.2 Emergence of smart cities
8.3.3 Hybrid floating solar power plants
9. Vendor Landscape
9.1 Overview
Exhibit 46: Vendor landscape
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
9.2 Landscape disruption
Exhibit 47: Landscape disruption?
Exhibit 48: Industry risks
9.3 Competitive scenario
10. Vendor Analysis
10.1 Vendors covered
Exhibit 49: Vendors covered
10.2 Market positioning of vendors
Exhibit 50: Market positioning of vendors?
10.3 Ciel and Terre International
Exhibit 51: Ciel and Terre International - Overview
Exhibit 52: Ciel and Terre International - Product and service
Exhibit 53: Ciel and Terre International - Key offerings
10.4 JA Solar Technology Co. Ltd.
Exhibit 54: JA Solar Technology Co. Ltd. - Overview
Exhibit 55: JA Solar Technology Co. Ltd. - Business segments
Exhibit 56: JA Solar Technology Co. Ltd. - Key offerings
Exhibit 57: JA Solar Technology Co. Ltd. - Segment focus
10.5 JinkoSolar Holding Co. Ltd.
Exhibit 58: JinkoSolar Holding Co. Ltd. - Overview
Exhibit 59: JinkoSolar Holding Co. Ltd. - Product and service
Exhibit 60: JinkoSolar Holding Co. Ltd. - Key News
Exhibit 61: JinkoSolar Holding Co. Ltd. - Key offerings
10.6 Kyocera Corp.
Exhibit 62: Kyocera Corp. - Overview
Exhibit 63: Kyocera Corp. - Business segments
Exhibit 64: Kyocera Corp. - Key News
Exhibit 65: Kyocera Corp. - Key offerings
Exhibit 66: Kyocera Corp. - Segment focus
10.7 Ocean Sun AS
Exhibit 67: Ocean Sun AS - Overview
Exhibit 68: Ocean Sun AS - Product and service
Exhibit 69: Ocean Sun AS - Key offerings
10.8 Pristine Sun Corp.
Exhibit 70: Pristine Sun Corp. - Overview
Exhibit 71: Pristine Sun Corp. - Product and service
Exhibit 72: Pristine Sun Corp. - Key offerings
10.9 Sinovoltaics Group Ltd.
Exhibit 73: Sinovoltaics Group Ltd. - Overview
Exhibit 74: Sinovoltaics Group Ltd. - Product and service
Exhibit 75: Sinovoltaics Group Ltd. - Key offerings
10.10 Tata Sons Pvt. Ltd.
Exhibit 76: Tata Sons Pvt. Ltd. - Overview
Exhibit 77: Tata Sons Pvt. Ltd. - Business segments
Exhibit 78: Tata Sons Pvt. Ltd. - Key offerings
Exhibit 79: Tata Sons Pvt. Ltd. - Segment focus
10.11 Trina Solar Co. Ltd.
Exhibit 80: Trina Solar Co. Ltd. - Overview
Exhibit 81: Trina Solar Co. Ltd. - Business segments
Exhibit 82: Trina Solar Co. Ltd. - Key offerings
Exhibit 83: Trina Solar Co. Ltd. - Segment focus
10.12 Vikram Solar Ltd.
Exhibit 84: Vikram Solar Ltd. - Overview
Exhibit 85: Vikram Solar Ltd. - Product and service
Exhibit 86: Vikram Solar Ltd. - Key offerings
11. Appendix
11.1 Scope of the report
11.1.1 Market Definition
11.1.2Objectives
11.1.3 Notes and Caveats
11.2 Currency conversion rates for US$
Exhibit 87: Currency conversion rates for US$?
11.3 Research Methodology
Exhibit 88: Research Methodology
Exhibit 89: Validation techniques employed for market sizing?
Exhibit 90: Information sources
11.4 List of abbreviations
Exhibit 91: List of abbreviations
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