Floating solar panels are new, cost-effective, and reliable solar energy-producing solutions, which are installed on water bodies to convert them into solar power plants. Green energy generated at these water reservoirs is used to power the pump on-site and in other applications, which helps in saving an immense amount of power. The world's first floating solar power plant was established in Aichi Prefecture in central Honshu, Japan. According to the World Economic Forum (WEF), 73 of the world's largest floating solar power plants are found in inland lakes and reservoirs of Japan.
The surging adoption of renewable energy, on account of the rising environmental pollution, will drive the floating solar panels market growth during 2020–2026. The market revenue is expected to surge from $685.2 million in 2019 to $2,301.8 million by 2026. Governments and power producing companies across the world have initiated or are working toward initiating schemes and projects that promote the use of renewable energy, such as solar energy. For instance, in India, the National Thermal Power Corporation (NTPC) has recently commissioned the development of a 100 MW capacity floating solar power plant at Ramagundam in Telangana.
According to P&S Intelligence, Asia-Pacific (APAC) accounted for the largest share in the floating solar panels market in 2019, and it is expected to retain its dominance throughout the forecast period. This can be attributed to the soaring number of government initiatives that promote the adoption of solar panels in the region. Moreover, the burgeoning demand for low-cost energy, toughening environmental regulations, and increasing requirement for land for alternative purposes will also support the market growth in the foreseeable future.
Therefore, the escalating adoption of renewable energy and the growing need to preserve landmasses will propel the deployment of floating solar panels in the forthcoming years.
The Floating Solar Panels Market Research Report Forecast is a valuable source of insightful data for business strategists.
It provides the industry overview with recent trends, size, share, growth analysis, historical, futuristic data, revenue, demand and strategic development.The entire floating solar panels market has been sub-categorized into type and connectivity.
The report provides an analysis of these subsets with respect to the geographical segmentation.
This research study will keep marketer informed and helps to identify the target demographics for a product or service.Request a FREE Sample Copy of Global Floating Solar Panels Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/floating-solar-panels-market/download-sampleBy TypeTracking Floating Solar PanelsStationery Floating Solar PanelsBy ConnectivityOn Grid Floating Solar PanelOff-Grid Floating Solar PanelThe research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the floating solar panels market include Solaris Synergy, Sharp Corporation, Trina Solar, Yingli Solar, Pristine Sun LLC, Sino Group, KYOCERA Corporation, ITOCHU Corporation, Hanwha Group, Wuxi Suntech Power Co. Ltd., Mitsubishi Electric Corporation, JA SOLAR Co. Ltd.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.This section covers regional segmentation which accentuates on current and future demand for floating solar panels market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
