Floating Solar Panels Market 2019 Global Forecast to 2023 - GEITS, Wuxi Suntech Power Co., Yingli Solar, SPG Solar, Ciel & Terre, Kyocera Corp, Japan Mega Solar Power Co., Suntech Power Holdings Co., Solaris Synergy

The floating solar panels provide higher efficiency in functioning as the temperature of the panels is maintained by the cooling effect exerted by the water underneath the system. The low maintenance and cost-effectiveness of the floating solar panels are leading to the increased adoption of these systems over conventional solar energy plants, which in turn is propelling the growth of the global floating solar panels market. With rapid depletion of fossil fuels and other non-renewable energy sources, research has increased to develop new techniques for harvesting energy from renewable sources.

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The land-based solar power plants require large land area and frequent maintenance for solar cell fabrication, which makes it a costly process. Application of floating solar panels that are installed over a water body reduces the utilization of land area and also aids in reducing the rate of evaporation from the water bodies. Increasing demand for renewable alternatives for energy harvesting owing to the rapid depletion of renewable energy sources is majorly driving the growth of the global floating solar panels market.

Increasing investments by governments in various regions for research in order to develop new and advanced techniques for harvesting energy from renewable sources and initiation of new projects for developing floating solar panels over multiple water bodies are some other factors that are fuelling the growth of the global floating solar panels market. However, complexities related to the offshore installation of floating solar panels are likely to restrain the expansion of the global floating solar panels market.

Companies Covered

Some of the key players operating in the global floating panels market are GEITS, Wuxi Suntech Power Co., Ltd., Yingli Solar, SPG Solar, Ciel & Terre, Kyocera Corporation, Japan Mega Solar Power Co., Suntech Power Holdings Co., Ltd., Solaris Synergy, Trina Solar Limited, and Sharp Corporation.

Floating Solar Panels Market Segmental Analysis

By Product
• Stationary floating solar panels
• Tracking floating solar panels

By Location:
• Onshore
• Offshore

By Region:
• North America
• Europe
• Asia Pacific
• Rest of the World

Worldwide Analysis

Geographically, the global floating solar panels market has been segmented into four major regions such as Asia Pacific, North America, Europe and the rest of the world.
Limited availability of land for building solar power plants and rapid depletion of non-renewable energy sources such as fossil fuels are inducing high demand for floating solar panels in the Asia Pacific region, leading to the significant growth of the floating solar panels market in this region.
High penetration of advanced technology that is being utilized for harvesting energy from renewable resources in order to meet the increasing energy demand is fuelling the growth of the floating solar panels market in the North America region.
Government emphasis on shifting towards renewable energy sources for energy generation and rising environmental awareness are propelling the growth of the floating solar panels market in the Europe region

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