United States Floating Solar Panels Market Forecast 2025 | Onshore & Offshore Insights

Floating Solar Panels Market size reached US$ 55.11 million in 2024 and is expected to reach US$ 84.90 million by 2032, growing with a CAGR of 5.55% during the forecast period 2025-2032.

According to DataM Intelligence has released its latest research report on "Floating Solar Panels Market Size 2025," offering in-depth insights into key growth factors such as regional performance, market segmentation, CAGR trends, revenue analysis of leading players, and major drivers shaping the industry. This report provides a clear and forward-looking perspective on market size (both value and volume), emerging opportunities, and current development status helping businesses identify growth potential and make informed strategic decisions

The global installed capacity of floating solar power has surged to around 13 GW, up from 3 GW, reflecting growing adoption worldwide. The World Bank identifies over 6,600 water bodies suitable for floating solar, with a potential exceeding 4,000 GW if 10% of surfaces are utilized. In India, NTPC's Ramagundam and Kayamkulam floating solar plants, with capacities of 100 MW and 92 MW respectively, highlight the country's push for innovative renewable energy solutions.

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A study estimates that floating solar on 68,000 lakes and reservoirs could generate 1,302 TWh annually, enough to cover four times the UK's electricity demand, with countries like Benin, Ethiopia, Kiribati, Rwanda, and Papua New Guinea potentially meeting all their power needs. Global FPV capacity is projected to reach 77 GWdc by 2033, led by Asia-Pacific (81%) with India, China, and Indonesia contributing 31 GWdc. In Europe, Germany, France, and the Netherlands are expected to account for over 60% of FPV capacity despite regulatory challenges, highlighting floating solar's role in land-efficient renewable energy expansion.

Top Key Players:

Ciel & Terre International, Trina Solar Limited, JA Solar Technology Co., Ltd., Kyocera Corporation, Vikram Solar Limited, Hanwha Q CELLS Co., Ltd., LONGi Green Energy Technology Co., Ltd., Sharp Corporation, Suntech Power Holdings Co., Ltd., and First Solar, Inc.

Growth Projection:

The Global Floating Solar Panels Market is set to witness significant growth between 2025 and 2032. While 2024 reflects steady progress, the increasing adoption of innovative strategies by leading players is expected to accelerate growth across the projected horizon. This creates a strong landscape of opportunities for businesses looking to expand, invest, and stay competitive in a rapidly evolving market.

Research Process:

The Floating Solar Panels Market research report by DataM Intelligence leverages both primary and secondary data sources to deliver deep insights. It explores a wide range of factors shaping the industry from government regulations, market conditions, and competitive dynamics to historical trends, technological advancements, upcoming innovations, and potential challenges. This comprehensive analysis highlights growth prospects while addressing barriers, helping businesses navigate volatility and seize new opportunities

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Market Segmentation:

By Product Type: Tracking Floating Solar Panels | Stationary Floating Solar PanelsBy Location: Onshore Water Bodies | Offshore Water Bodies

By Technology: Photovoltaic | Concentrated Solar Power (CSP) | Concentrator Photovoltaics (CPV) | Other

Top Growth Regions:

China, India, and Indonesia are leading the growth in floating solar, expected to collectively reach 31 GWdc by 2033, a significant share of the Asia-Pacific's projected 57 GWdc capacity. In 2024, around 1.7 GWdc of new capacity is set to become operational in the region. Notable projects include India's Omkareshwar Floating Solar Power Park on the Omkareshwar Dam, planned for 600 MW with 278 MW already commissioned, making it one of the world's largest. The NTPC Ramagundam Floating Solar Plant in Telangana has achieved full capacity at 100 MW, covering 500 acres with over 400,000 panels.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Introduces the report with an overview of coverage summarizing key market segments by region, product type, and application. It offers a clear snapshot of market size, segment-wise growth potential, and both short- and long-term industry outlook.

Chapter 2: Brings forward the most valuable market insights and reveals the game-changing emerging trends shaping the industry's future.

Chapter 3: Provides a detailed analysis of the competitive landscape among Floating Solar Panels covering revenue shares, strategic initiatives, and the latest mergers & acquisitions.

Chapter 4: Delivers comprehensive profiles of top players, including revenue, profit margins, product lines, and company milestones.

Chapters 5 & 6: Break down revenue performance across regions and countries, offering a precise view of market sizes, opportunities, and development prospects worldwide.

Chapter 7: Examines segmentation by type, revealing the size and potential of each category guiding businesses toward untapped, high-impact areas.

Chapter 8: Focuses on applications, evaluating how different downstream markets are growing and identifying promising sectors for expansion.

Chapter 9: Maps the entire industry supply chain, detailing both upstream and downstream activities for a holistic understanding.

Chapter 10: Concludes with key findings and the most critical takeaways giving stakeholders a clear direction for future strategies.

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Q1: How fast is the Floating Solar Panels Market growing?

A: The Market is on a robust growth path, expected to expand at a CAGR of 5.55% between 2025 and 2032.

Q2: Which Regions dominate the Floating Solar Panels Market?

A: Currently, Asia-Pacific Fueled by Major Renewable Energy Initiatives

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