Global Floating Solar Energy Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Energy And Power Date : September 27th, 2018
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The global demand for floating solar energy market was valued at USD 106.85 million in 2017, and is expected to account for USD 584.27 million by 2024, while actuating at an estimated CAGR of 28.0% from 2018 to 2024. The growth is primarily attributed to the difficulty faced in land acquisitions and increased efficiency of solar panels due to cooling effect of water. Moreover, rising investments in R&D by key players, along with various government initiatives promoting the adoption of floating solar technology are expected to augment the market demand over the forecast period.

The years used for the assessment are as follows;

  • Historical year  : 2014, 2015, and 2016
  • Base year      : 2017
  • Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year Impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total floating solar energy market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the floating solar energy market
  • Finalizing the overall size and share for the global floating solar energy market

OBJECTIVES:

  • To classify the global floating solar energy market into segments by product type, location, technology, application, capacity, and region and analyze their growth prospects individually.
  • To analyze market trends, opportunities, drivers and restraints associated with the floating solar energy market.
  • Profiling key companies operating in the global floating solar energy market.
  • To study market response with respect to the mergers and acquisitions in the industry.

MARKET SCOPE

The research scope for global floating solar energy market is as follows:

By Product Type

  • Stationary
  • Solar Tracking

By Location

  • On-Shore
  • Off-Shore

By Technology

  • Photovoltaic
  • Concentrated Solar Power (CSP) & Concentrator Photovoltaics (CPV)

By Application

  • Residential
  • Commercial
  • Industrial

By Capacity

  • Small-scale (<100kW)
  • Medium-scale (100kW-10MW)
  • Large-scale (>10MW)

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Rest of the World (RoW)
  • Middle East & Africa (MEA)
  • South America

The global demand for floating solar energy market was valued at USD 106.85 million in 2017 and is expected to account for USD 584.27 million by 2024, while actuating at an estimated CAGR of 28.0% from 2018 to 2024. The growth is primarily attributed to the difficulty faced in land acquisitions and increased efficiency of solar panels due to cooling effect of water. Moreover, rising investments in R&D by key players, along with various government initiatives to promote the adoption of floating solar technology are expected to augment the market demand over the forecast period.

Solar photovoltaic (PV) panel is used as an eco-friendly and renewable energy based power generation technology around the world. These solar panels are installed upon free land and roof tops. However, solar PV systems have a major drawback as they need large land areas for scalability. Several countries around the world do not have large land areas, and hence are not able to implement solar PV technology based power plants on a large scale. This problem was addressed with the advent of floating solar energy technology.

The lack of availability of large land masses and high population density is providing immense opportunities for the growth of the floating solar panels market across the globe. Moreover, major players of the solar technology market are transitioning towards floating solar technology, as land acquisition is an expensive venture. Additionally, land regulations make it hard for these companies to acquire desired land area with preferable solar energy attributes. Due to these factors floating solar energy market has gained fast traction in the recent years.

The Asia-Pacific region held the largest share of the floating solar energy market, and is expected to continue its dominance over the forecast period. The growth in the region is primarily due to the high energy demand, and government initiatives to promote floating solar energy systems. The European floating solar energy market is expected to grow at a rapid rate during 2018-2024. The growth in the region is mainly attributed to the technological advancements in the development of floating solar power technology.

Some of the key companies operating in the market include Ciel & Terre International; Novaton; Infratech Industries, Inc.; DNV GL; Solar Power Incorporated; Pristine Sun; Yingli Green Energy Holding Company Limited; Trina Solar; Sharp Corporation; and KYOCERA Corporation, among others.

Global floating solar market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Market Definition

1.2. Market Segmentation

1.2.1. Market Breakdown, By Product Type

1.2.2. Market Breakdown, By Location

1.2.3. Market Breakdown, By Technology

1.2.4. Market Breakdown, By Application

1.2.5. Market Breakdown, By Capacity

1.2.6. Market Breakdown, By Region

1.3. Research Methodology

1.3.1. Initial Data Search

1.3.2. Secondary Research

1.3.3. Primary Research

1.3.4. Scope and Assumptions

1.4. Executive Summary

CHAPTER 2. Market Outlook

2.1. Introduction

2.2. Market Outlook

2.2.1. Market Share

2.2.2. Opportunities

   2.2.2.1. Multi-junction solar cells with increased efficiency

   2.2.2.2. Floating solar chimney technology

   2.2.2.3. Offshore floating solar power plants

2.2.3. Trends

   2.2.3.1. Increase R&D investment by major players

   2.2.3.2. Major floating solar energy projects in pipeline

2.2.4. Growth Drivers

   2.2.4.1. Difficulty faced in land acquisitions and increased efficiency due to cooling effect of water

   2.2.4.2. Government initiatives to promote adoption of floating solar technology

           2.2.4.3. Technological advancements

2.2.5. Impact Analysis of Drivers on Future Forecast of the Market

2.2.6. Restraints of the Market

            2.2.6.1. High installation and maintenance cost

2.2.7. Impact Analysis of Restraints on Future Forecast of the Market

CHAPTER 3. Market Entry Strategy

3.1. PESTLE Analysis

3.2. Value Chain Analysis

3.3. Competitive Analysis

3.3.1. Company Market Share Analysis

3.3.2. Porter’s Five Forces Analysis

CHAPTER 4. Global Floating Solar Energy Market Size and Forecast (2018 – 2024)

4.1. Global Floating Solar Energy Market, By Product Type

4.1.1. Stationary

4.1.2. Solar Tracking

4.2. Global Floating Solar Energy Market, By Location

4.2.1. On-shore

4.2.2. Off-shore

4.3. Global Floating Solar Energy Market, By Technology

       4.3.1. Photovoltaic

       4.3.2. Concentrated Solar Power (CSP) & Concentrator Photovoltaics (CPV)

4.4. Global Floating Solar Energy Market, By Application

4.4.1. Residential

4.4.2. Commercial

4.4.3. Industrial

4.5. Global Floating Solar Energy Market, By Capacity

4.5.1. Small-scale (<100kW)

4.5.2. Medium-scale (100kW-10MW)

4.5.3. Large-scale (>10MW)

4.6. Global Floating Solar Energy Market, By Region

4.6.1. North America

4.6.2. Europe

4.6.3. Asia-Pacific (APAC)

4.6.4. Rest of the World (RoW)

   4.6.4.1. Middle East and Africa (MEA)

   4.6.4.2. South America

CHAPTER 5. Global Floating Solar Energy Market, By Region

5.1. North America Floating Solar Energy Market (USD Million/MW)

5.1.1. North America Floating Solar Energy Market, By Product Type (USD Million/MW)

5.1.2. North America Floating Solar Energy Market, By Location (USD Million/MW)

5.1.3. North America Floating Solar Energy Market, By Technology (USD Million/MW)

5.1.4. North America Floating Solar Energy Market, By Application (USD Million/MW)

5.1.5. North America Floating Solar Energy Market, By Capacity (USD Million/MW)

5.1.6. North America Floating Solar Energy Market, By Country (USD Million/MW)

   5.1.6.1. The U.S. Floating Solar Energy Market (USD Million/MW)

   5.1.6.2. Canada Floating Solar Energy Market (USD Million/MW)

   5.1.6.3. Mexico Floating Solar Energy Market (USD Million/MW)

5.2. Europe Floating Solar Energy Market (USD Million/MW)

5.2.1. Europe Floating Solar Energy Market, By Product Type (USD Million/MW)

5.2.2. Europe Floating Solar Energy Market, By Location (USD Million/MW)

5.2.3. Europe Floating Solar Energy Market, By Technology (USD Million/MW)

5.2.4. Europe Floating Solar Energy Market, By Application (USD Million/MW)

5.2.5. Europe Floating Solar Energy Market, By Capacity (USD Million/MW)

5.2.6. Europe Floating Solar Energy Market, By Country (USD Million/MW)

   5.2.6.1. United Kingdom Floating Solar Energy Market (USD Million/MW)

   5.2.6.2. Belgium Floating Solar Energy Market (USD Million/MW)

   5.2.6.3. Portugal Floating Solar Energy Market (USD Million/MW)

   5.2.6.4. Netherlands Floating Solar Energy Market (USD Million/MW)

   5.2.6.5. Italy Floating Solar Energy Market (USD Million/MW)

   5.2.6.6. Rest of Europe Floating Solar Energy Market (USD Million/MW)

5.3. Asia-Pacific Floating Solar Energy Market (USD Million/MW)

5.3.1. Asia-Pacific Floating Solar Energy Market, By Product Type (USD Million/MW)

5.3.2. Asia-Pacific Floating Solar Energy Market, By Location (USD Million/MW)

5.3.3. Asia-Pacific Floating Solar Energy Market, By Technology (USD Million/MW)

5.3.4. Asia-Pacific Floating Solar Energy Market, By Application (USD Million/MW)

5.3.5. Asia-Pacific Floating Solar Energy Market, By Capacity (USD Million/MW)

5.3.6. Asia-Pacific Floating Solar Energy Market, By Country (USD Million/MW)

   5.3.6.1. China Floating Solar Energy Market (USD Million/MW)

   5.3.6.2. Japan Floating Solar Energy Market (USD Million/MW)

   5.3.6.3. India Floating Solar Energy Market (USD Million/MW)

   5.3.6.4. South Korea Floating Solar Energy Market (USD Million/MW)

   5.3.6.5. Rest of Asia-Pacific Floating Solar Energy Market (USD Million/MW)

5.4. Rest of the World (RoW) Floating Solar Energy Market (USD Million/MW)

5.4.1. Rest of the World (RoW) Floating Solar Energy Market, By Product Type (USD Million/MW)

5.4.2. Rest of the World (RoW) Floating Solar Energy Market, By Location (USD Million/MW)

5.4.3. Rest of the World (RoW) Floating Solar Energy Market, By Technology (USD Million/MW)

5.4.4. Rest of the World (RoW) Floating Solar Energy Market, By Application (USD Million/MW)

5.4.5. Rest of the World (RoW) Floating Solar Energy Market, By Capacity (USD Million/MW)

5.4.6. Rest of the World (RoW) Floating Solar Energy Market, By Region (USD Million/MW)

   5.4.6.1. Middle East and Africa (MEA) Floating Solar Energy Market (USD Million/MW)

   5.4.6.2. South America Floating Solar Energy Market (USD Million/MW)

CHAPTER 6. Key Players and Strategic Developments

6.1. Ciel & Terre International

6.1.1. Business Overview

6.1.2. Product and Service Offering

6.1.3. Financial Overview

6.1.4. SWOT Analysis

6.1.5. Strategic Developments

6.2. Novaton

6.2.1. Business Overview

6.2.2. Product and Service Offering

6.2.3. Financial Overview

6.2.4. SWOT Analysis

6.2.5. Strategic Developments

6.3. Infratech Industries, Inc.

6.3.1. Business Overview

6.3.2. Product and Service Offering

6.3.3. Financial Overview

6.3.4. SWOT Analysis

6.3.5. Strategic Developments

6.4. DNV GL

6.4.1. Business Overview

6.4.2. Product and Service Offering

6.4.3. Financial Overview

6.4.4. SWOT Analysis

6.4.5. Strategic Developments

6.5. Solar Power Incorporated

6.5.1. Business Overview

6.5.2. Product and Service Offering

6.5.3. Financial Overview

6.5.4. SWOT Analysis

6.5.5. Strategic Developments

6.6. Pristine Sun

6.6.1. Business Overview

6.6.2. Product and Service Offering

6.6.3. Financial Overview

6.6.4. SWOT Analysis

6.6.5. Strategic Developments

6.7. Yingli Green Energy Holding Company Limited

6.7.1. Business Overview

6.7.2. Product and Service Offering

6.7.3. Financial Overview

6.7.4. SWOT Analysis

6.7.5. Strategic Developments

6.8. Trina Solar

6.8.1. Business Overview

6.8.2. Product and Service Offering

6.8.3. Financial Overview

6.8.4. SWOT Analysis

6.8.5. Strategic Developments

6.9. Sharp Corporation

6.9.1. Business Overview

6.9.2. Product and Service Offering

6.9.3. Financial Overview

6.9.4. Strategic Developments

6.10. KYOCERA Corporation

6.10.1. Business Overview

6.10.2. Product and Service Offering

6.10.3. Financial Overview

6.10.4. SWOT Analysis

6.10.5. Strategic Developments

Global Floating Solar Energy Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024