The floating solar global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Floating Solar Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The floating solar market size has grown exponentially in recent years. It will grow from $3.74 billion in 2023 to $4.72 billion in 2024 at a compound annual growth rate (CAGR) of 26.0%. The growth in the historic period can be attributed to increasing urbanization, increasing awareness about the advantages of renewable energy, increasing awareness of climate change, increasing compliance for clean electricity, and a rise in investment in solar-based energy.
The floating solar market size is expected to see exponential growth in the next few years. It will grow to $11.97 billion in 2028 at a compound annual growth rate (CAGR) of 26.2%. The growth in the forecast period can be attributed to increasing investment in renewable energy, increasing energy costs, increasing demand for land for agriculture and urban development, rising energy demand, and growing need for electricity while minimizing environmental harm. Major trends in the forecast period include technological advancements, hybrid systems, smart grid integration, anchoring systems, and water quality monitoring systems.
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Scope Of Floating Solar Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Floating Solar Market Overview
Market Drivers –
The growing focus on clean-fuel energy generation is expected to propel the growth of the floating solar market. Clean fuel energy is derived from renewable sources that produce minimal or no greenhouse gas emissions, contributing to a sustainable energy future. The focus on clean fuel energy generation is driven by several key factors, including environmental concerns, the need for energy security, and supportive government policies. Floating solar systems play a significant role in clean-fuel energy generation by providing an efficient, renewable source of electricity while minimizing land use and offering additional environmental benefits. For instance, in May 2023, according to the International Energy Agency, a France-based intergovernmental organization, the amount invested overall in clean energy grew from 1,617 billion in 2022 to 1,740 billion in 2023. Therefore, the increasing emphasis on clean fuel energy generation significantly drives the floating solar market.
Market Trends —
Major companies operating in the floating solar market are focused on developing innovative technologies and large-scale installations, such as floating solar projects, to optimize energy generation, enhance efficiency, and maximize the use of water surfaces for renewable energy production. Floating solar projects refer to solar power systems installed on floating platforms or structures placed on bodies of water, such as lakes, reservoirs, and ponds. For instance, in June 2023, Noria Energy, a US-based renewable energy company, launched Aquasol floating solar projects, South America’s largest floating solar project at Colombia’s Urrá Dam. This ambitious project features many solar panels mounted on innovative floating platforms designed to maximize energy production while minimizing land use. The floating solar system benefits from the water’s natural cooling effect, enhancing the PV panels’ efficiency and performance. The project integrates seamlessly with the existing hydropower infrastructure of the Urrá Dam, optimizing overall energy generation and contributing to a more sustainable and reliable power supply.
The floating solar market covered in this report is segmented —
1) By Type: Stationary Floating Solar Panels, Tracking Floating Solar Panels
2) By Capacity: Below 5MW, 5MW To 50MW, Above 50MW
3) By Connectivity: On Grid, Off Grid
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Regional Insights —
Asia-Pacific was the largest region in the floating solar market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the floating solar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the floating solar market are Sharp Corporation, LONGi Green Energy Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Kyocera Corporation, Trina Solar Limited, JA SOLAR Technology Co. Ltd., Canadian Solar Inc., Sungrow Power Supply Co. Ltd., Risen Energy Co. Ltd., First Solar Inc., GCL-Poly Energy Holdings Limited, SunPower Corporation, Tata Power Solar Systems Limited, Cleantech Solar, Vikram Solar Limited, REC Solar Holdings AS, Greenyellow, Seraphim Solar System Co. Ltd., Adtech Systems Limited, Pristine Sun Corporation, Mecasolar, Ciel & Terre International, Yingli Green Energy Holding Company Limited, Solaris Synergy, Swimsol GmbH< /b>
Table of Contents
1. Executive Summary
2. Floating Solar Market Report Structure
3. Floating Solar Market Trends And Strategies
4. Floating Solar Market — Macro Economic Scenario
5. Floating Solar Market Size And Growth
…..
27. Floating Solar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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