Floating Solar Panels Market Global Scenario, Market Size, Trend and Forecast - 2020

The global floating solar panels market was valued at $3.89 million in 2014, and it is expected to grow with a CAGR of 116.1% during 2015 - 2020. The factors driving the growth of the market include increased government initiatives and stringent environmental regulations, no need for acquisition of large land areas, and increased efficiency of power generation. The rapid depletion of fossil fuels and global warming caused by their usage has shifted the global interest from conventional energy to green energy. 

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Geographically, the Asia-Pacific market accounted for the largest share in the global floating solar panels market in 2014. The floating solar panels market in Asia-Pacific is growing mainly, due to increased government initiatives in promoting the usage of floating solar panels. 

The floating solar power plants have higher efficiency of power generation, as compared to the ground-mounted solar plants. The ground-mounted solar panels have reduced efficiency, due to the heating up of ground. Solar panels have improved efficiency at low temperature. 

The massive unexplored floating solar panels market across the globe and lack of availability of large land masses in densely populated countries of Asia is expected to create strong opportunities for the growth of the market. The global floating solar panels market is in its nascent form; hence as of current scenario, there is little market penetration across the globe. 

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The key companies operating in the global floating solar panels market include Novaton AG, Ciel & Terre International, DNV GL AS, Infratech Industries Inc., KYOCERA Corporation, SPI Solar, Pristine Sun, Yingli Green Energy Holding Company Limited, Trina Solar Limited and Sharp Corporation.

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Created on Mar 29th 2018 08:21. Viewed 332 times.

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