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Floating Solar Panels Market Revenue to Grow At A CAGR of 45% by 2024

09-27-2019 03:22 PM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

/ PR Agency: Floating Solar Panels Market
Floating Solar Panels Market

Floating Solar Panels Market

Floating solar panels market is expected to rise significantly subject to this very factor – the non-availability of land for installing PV systems. The governments of various countries have been focusing on maintaining a clean, green environment by encouraging the adoption of renewable energy resources, which will further leverage the floating solar panels industry expansion. Taking a step towards the extension of its current renewable energy generating capacity, India, in March 2017, has installed its biggest floating solar power plant in Kerala, which is forecast to produce nearly 100 KWP power. This solar power generating plant will help to overcome the acute shortage of power supply. The installation of such huge floating solar power systems can be credited to the large presence of water reservoirs in the country. As per Global Market Insights, Inc., “Floating solar panels market size, estimated at 60 MW in 2015, is anticipated to surpass 2.5 GW by 2024.”

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Major corporations across the globe have been striving to develop highly efficient and economical products to encourage increased adoption of these panels. The remarkable efforts by key participants such as Pristine Sun, Ciel & Terre, Solaris Synergy, Novaton AG, SPI Energy, Sunengy Pty, Yingli Solar, Vikram Solar, and Kyocera Corporation will lead global floating solar panels market to grow at a remarkable compound annual growth rate over the next few years.

In fact, Kyocera Corporation recently completed the installation of the world’s largest solar power plant in Japan with a capacity of 14.5 MW. More than 4,900 of the country’s homes are likely to be powered with this plant in the years to come. In addition, the availability of less land coupled with the reduced availability of natural resources will also drive Japan floating solar panels industry, which earned over USD 14 billion in 2015.

Floating solar panels are connected via off grid and on grid systems. On grid floating solar panel market share, which accounted for 75% of the overall revenue in 2015, is expected to grow notably over the coming timeframe. Rapid expansion of the utility projects along with tax concessions offered by government will favorably impact the business growth.

APAC floating solar panels market will be propelled mainly by China, Japan, and India. Driven by the rising investments on the installation of PV systems, China floating solar panels industry will earn USD 140 million by 2024, with a CAGR estimation of 30% over 2016-2024. U.S. floating solar panels market, on the other hand, is forecast to generate a revenue of USD 250 million by 2024, with a staggering CAGR of 67% over 2016-2024.

The governments of various nations have been tirelessly working toward achieving extensive utilization of floating solar panels. In lieu of this fact, many of them have been providing supportive financial schemes such as feed-in tariffs, tax rebates, subsidies, and the like, which will augment on-grid floating solar panels market. Its counterpart, the off-grid connectivity segment, is anticipated to grow at a CAGR of 30% over 2016-2024, fueling global floating solar panels industry.

Browse key industry insights spread across 145 pages with 243 market data tables & 10 figures & charts from the report, “Floating Solar Panels Market” in detail along with the table of contents @

Floating solar panels, being a viable, efficient, and cost-friendly alternative to ground-mounted PV systems, are being adopted extensively all over, boosting floating solar panels market. In addition, stringent government rules to curb the GHG emissions will also propel this industry in the next few years.

Major Key Points from Table of Content:

Chapter 5 Floating Solar Panels Market, By Capacity
5.1 Market share by capacity, 2015 & 2024
5.2 0.1 – 1 MW
5.2.1 0.1 – 1 MW segment, 2013 – 2024
5.2.2 0.1 – 1 MW segment volume, by region, 2013 – 2024
5.2.3 0.1 – 1 MW segment revenue, by region, 2013 – 2024
5.3 1 – 5 MW
5.3.1 1 – 5 MW segment, 2013 – 2024
5.3.2 1 – 5 MW segment volume, by region, 2013 – 2024
5.3.3 1 – 5 MW segment revenue, by region, 2013 – 2024
5.4 ≥ 5 MW
5.4.1 5 MW & above segment, 2013 – 2024
5.4.2 5 MW & above segment volume, by region, 2013 – 2024
5.4.3 5 MW & above segment revenue, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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