Global Floating Solar Panels Market Overview Attributable to the rapid depletion of fossil fuels and other non-renewable sources of energy, the research has witnessed propulsion for the development of new techniques for the harvesting of energy from renewable sources. Photovoltaic systems are used vastly for the harvesting solar energy with the help of solar panels which are installed on large land areas. New technological advancements have enabled the development of floating solar panels which are installed on a structure which floats on a water body and does not occupy land area. The global Floating Solar Panels Industry is likely to showcase impressive expansion during the assessment period, as suggested by the researchers at Market Research Future (MRFR) in the latest report. Several factors are observed to have a positive impact on the growth of the global floating solar panels market. The land-based solar power plants require a large area of land and also need frequent maintenance for solar cell fabrication, which makes it a costly affair. Further, application of floating solar panels which are installed on a water body are expected to reduce the utilization of land area. Further, it also aids in the decline of evaporation of water from these bodies. Rising demand for renewable alternatives for energy harvesting due to the rapid depletion of conventional and non-renewable energy sources is also driving the global floating solar panels market. Market Segmentation The global floating solar panels market is studied for various segments by product, location, and region. By product, the floating solar panels market is segmented into stationary floating solar panels and tracking floating solar panels. Among these, the stationery floating solar panels segment is expected to hold a substantial share of the global market owing to cost-effectiveness of these panels, as compared to other types of floating solar panels. By location, the floating solar panels market is segmented into onshore and offshore. Detailed Regional Analysis The floating solar panels market is segmented into the regions of North America, South America, Asia Pacific, Europe, and the Middle East & Africa. The limited availability of land for building solar power plants and rapid depletion of non-renewable energy sources are expected to propel the demand and adoption of floating solar panels in Asia Pacific. This is one of the most primary reasons behind the substantial growth of the regional floating solar panels market. Further, high penetration of advanced technologies which is used in harvesting energy from renewable sources to meet the rising demand for energy from the developing countries residing in the APAC is expected to drive the regional floating solar panels market to a great extent. North America is also likely to witness significant ascension in the floating solar panels market. This can be owed to ever-increasing demand for energy from developed countries. Fast penetration of urbanization and industrialization has led a rising dependency on the continuous flow of energy, hence, driving the global floating solar panels market. Governments are also noted to shift emphasis towards renewable energy sources for energy generation, along with growing environmental awareness are fostering market growth. Key Players
Some prominent players present in the global floating solar panels market include GEITS, Yingli Solar, SPG Solar, Suntech Power Holdings Co. Ltd., Ciel & Terre, Wuxi Suntech Power Co. Ltd., Kyocera Corporation, Trina Solar Limited, Japan Mega Solar Power Co., Solaris Synergy, and Sharp Corporation. About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Contact: Market Research Future +1 646 845 9312 Email: sales@marketresearchfuture.com