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Floating Solar Panel Market to Witness Astonishing Growth by 2028

12-26-2022 06:55 AM CET | Energy & Environment

Press release from: Orion Market Research

Floating Solar Panel Market to Witness Astonishing Growth

The global floating solar panel market is anticipated to grow at a considerable CAGR of 24.5% during the forecast period. Solar photovoltaic power is a green, clean and renewable source of power that is increasingly needed to reduce the effects of greenhouse gas emissions and prevent global warming. For instance, one of the largest solar farms, Benban Solar Park in Egypt with a total capacity of 1,650 megawatts was completed in November 2019.  

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Another factor includes that, the solar panel systems do not have to be fixed on land, and roof-tops, solar panels can be mounted on platforms that float on water-bodies like lakes, reservoirs, and the surface of the ocean under the right conditions. Compared to land-based solar panels, floating solar panels are more expensive to build and challenging to operate. But the capacity of floating solar panels is growing quickly, from being able to provide a peak power of 70 megawatts in 2015 to be 1,300 megawatts in the year 2018. Also, as per the International Finance Corporation (IFC), more than 300 floating solar power systems have been installed globally in 2020. A global research firm report by wood Mackenzie has estimated the floating solar panel market to grow by 22% year-over-year on an average from 2019 through 2024. 

Market Coverage

The market number available for - 2021-2027
Base year- 2021
Forecast period- 2021-2028

Segment Covered- 

By Product Type
By Capacity 
By Connectivity 
By Technology 

Regions Covered-

North America
Rest of the World
Competitive Landscape- including KYOCERA Corp., Trina Solar Co. Ltd., Yellow Tropus Pvt.Ltd, and Wuxi Suntech Power Co.Ltd. 


A full Report of Floating Solar Panel Market is Available at:

Floating Solar Panel Market Report Segment

By Type


By Capacity 


By Connectivity 


By Technology


Floating Solar Panel Market Report Segment by Region

North America

United States


Rest of Europe


South Korea
Rest of APAC

Rest of the World

Latin America 
Middle East & Africa

Company Profiles

Ciel & Terre international
LONGi Solar
Ocean Sun AS
Pristine Sun Corp.
Raytheon Technologies Corp.
SPI Groups
Suzhou Talesun Solar Technology Co., Ltd
Tata Power
Yingli Solar

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We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari


Contact no:  +91 7803040404

About Orion Market Research 
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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