Floating Solar Market is estimated to grow at a CAGR of over 34.2% During 2024-30

Global Quick Overview of the Floating Solar Market Analysis

The objective of the Global Floating Solar Market Research Report is to provide a detailed and useful data, and a geographical perspective for predictions of future. The recommendations included in the report are supposed to be insightful and actionable, offering a thorough understanding of the industry. Moreover, it includes a comprehensive table of contents, relevant data, and an analysis of numerous important aspects that have impacted the market.

According to the latest report analysis by MarkNtel Advisors, the Global Floating Solar Market size in terms of installed capacity is valued at around 5.9 GW in 2023. Along with this, the market is estimated to grow at a CAGR of around 34.2% during the forecast period, i.e., 2024-30. This detailed study provides a detailed overview of the current market state, including market trends, opportunities, along with the recent developments. In-depth analysis of market share, size, forecast, and competitive landscape is also covered in this report that presents a clear picture of the industry with relevant statistical data.

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Latest Trend Contributing in the Floating Solar Industry:

Global Floating Solar Market Trend:

Escalating Integration of Floating Solar Panels with Hydro-Thermal Power Plants Emerging as a Significant Market Trend – The combination of solar and hydropower enhances the overall energy efficiency of the system, thereby surging the demand for hybrid solar and hydro systems. The incorporation of floating solar panels on existing hydropower plants results in the maximization of the existing infrastructure and cutting the capital cost of additional equipment and machines required to set up an entirely new plant. Hydropower plants provide ample surface area for the installation of floating solar panels, which resolves the issue of land reservoirs in countries with limited land availability.

Furthermore, solar PV when incorporated with hydropower systems increases its efficiency, particularly in summer months when the water level goes down due to high evaporation rates. Various public and private entities across the globe have been integrating hydro and floating solar solutions owing to their perceived benefits.

Thus, the surging integration of floating solar PVs with existing hydrothermal plants owing to increased efficiency, high power generation, environmental benefits, and continuous power generation even in downtimes is emerging as a significant market trend in the Global Floating Solar Market.

A Detailed Outlook of Floating Solar Market Segmentation

The Market Segmentation analysis provides and accurate data of the industry to help the analysts make smart strategic investment decisions. Also, the prediction of the market is included for national, and level in the research. The study analyses latest trends of the industry from 2024-30 for each of the category. Different segments were used to classify the market for this study are listed below:

-By Type

Pure- Market Size & Forecast 2019-2030, USD Million
Metallic- Market Size & Forecast 2019-2030, USD Million
Membrane- Market Size & Forecast 2019-2030, USD Million

-By Waterbody

Inland- Market Size & Forecast 2019-2030, MW
Marine- Market Size & Forecast 2019-2030, MW

-By Component

Service- Market Size & Forecast 2019-2030, USD Million
Equipment- Market Size & Forecast 2019-2030, USD Million

-By Capacity

Upto 10 MW- Market Size & Forecast 2019-2030, Number of Projects
1 MW to 50 MW- Market Size & Forecast 2019-2030, Number of Projects
1 MW to 100 MW- Market Size & Forecast 2019-2030, Number of Projects
>100 MW- Market Size & Forecast 2019-2030, Number of Projects

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Geographical Analysis:

-By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

The Asia-Pacific region is expected to capture a substantial share of the Global Floating Solar Market, owing to high renewable energy generation potential and rich hydro and solar resources. The countries in the region experience a continuous and reliable supply of solar radiation essential for solar energy generation. Moreover, countries like India, Japan, China, Indonesia, Australia, etc., are surrounded by water sources which further provide ample opportunities for floating solar projects. In addition, governments across the region are extensively focusing on reducing their carbon footprints and launching initiatives for renewable energy generation. As a result, they are launching, investing, and establishing floating solar power plants across their nations to propel the renewable energy sector.

Lead the Floating Solar Market with a Deep Evaluation of the Competition

This report also includes accurate facts, figures, and market data into income assessments, and projections in the industry by using a wide range of statistical tools and knowledge about the market by the experts. Each notable market participant has a SWOT evaluation, a profile and a complementary Porter’s Five Forces analysis.

Moreover, to take the benefits of new opportunities, dominating players have been constantly realigning their systems, and methods of operation. We also evaluate major businesses that are influences on a geographical scale along with the small and medium-sized businesses that plays crucial role and have substantial opportunity for expansion in order to accurately reflect the levels of market competition.

The details on the following key players is presented in this section as:

Iberdrola
Ciel & Terre International
RWE
Tractebel
Pristine Sun LLC
Enel Spa
SolarDuck
BayWa r.e.
Ocean Sun AS
Quant Solar
ABL Group
NRG Energia srl
Sterling and Wilson Renewable Energy Limited
Sungrow
Scotra Co. Ltd.
EnBW
Others

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Key Report Highlights

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

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