Floating Solar Panels Market Report and Forecast 2025-2034
Market Report I 2025-08-11 I 159 Pages I EMR Inc.
The global floating solar panels market stood at a volume of around 1.72 Gigawatt in 2024. The market is further expected to grow at a CAGR of 29.10% in the forecast period of 2025-2034 to attain a volume of nearly 22.12 Gigawatt by 2034.
Growing Popularity of Tracking Solar Panels to Bolster the Growth of the Floating Solar Panels Industry
Based on product type, the tracking solar panel segment is likely to witness a healthy growth in the forecast period, owing to the ability of the product to generate more electricity by optimising the land usage. The single axis and dual axis trackers in a tracing solar panel allow the user to find the perfect fit for a unique job site. Tracking solar panel is an ideal product when considering aspects like installations size, local weather, degree of latitude, and electrical requirements.
Meanwhile, the stationary solar panel segment accounts for a significant share in the market, owing to the lower installation cost and high strength elastic for the construction of panels. In addition to this, the stationary solar panels are durable and reliable, which is likely to bolster the growth of the segment.
The Asia Pacific Accounts for a Significant Share in the Floating Solar Panels Industry
The floating solar panels industry in the Asia Pacific is driven by the rapid expansion of industries such as automotive, food processing, oil and gas, and power generation, among others, which require high amounts of energy in order to sustain the day-to-day operations. In countries like China and Japan, a vast majority of floating solar panels have been installed in remote areas by giant solar farms owing to the favourable policies implemented by the governments and their ambitious plans pertaining to renewable energy installations. This is likely to be a major factor driving the industry growth in the region.
Floating Solar Panels: Market Segmentation
Floating solar panels, also known as floating photovoltaic (FPV), are defined as a solar power production installation mounted on a structure that floats on the surface of water. The panel is most likely to be located in a lake or basin, which might be artificial.
Based on product type, the market is segmented into:
- Tracking Floating Solar Panels
- Stationary Floating Solar Panels
The regional markets for the product include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Rising Demand for Clean Energy Sources to Boost the Growth of the Floating Solar Panels Industry
The global floating solar panels industry is driven by the growing demand for renewable sources to meet the rising global demand for energy. The favourable government initiatives to support the adoption of solar panels are significantly contributing to the market growth. In addition, the insufficiency of the land area is expected to drive the demand for floating solar panels to take advantage of water bodies like irrigation ponds, reservoirs, lakes, canals, and others to meet the energy needs for various applications. For instance, in the quarry and mining industry, the plants are located in remote areas, where energy and water supply are costly and challenging. Thus, floating solar panels offer an economical solution to meet energy needs for such industries. The product can also reduce the evaporation rate, which is favourable for the mining industry and others.
Key Industry Players in the Global Floating Solar Panels Market
The report gives a detailed analysis of the following key players in the global floating solar panels market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Floating Solar UK
- Akuo Industries
- Yellow Tropus Pvt. Ltd
- JA Solar Technology Co., Ltd.
- Hanwha Group
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Floating Solar Panels Market Analysis
5.1 Key Industry Highlights
5.2 Global Floating Solar Panels Historical Market (2018-2024)
5.3 Global Floating Solar Panels Market Forecast (2025-2034)
5.4 Global Floating Solar Panels Market by Product Type
5.4.1 Tracking Floating Solar Panels
5.4.1.1 Historical Trend (2018-2024)
5.4.1.2 Forecast Trend (2025-2034)
5.4.2 Stationary Floating Solar Panels
5.4.2.1 Historical Trend (2018-2024)
5.4.2.2 Forecast Trend (2025-2034)
5.5 Global Floating Solar Panels Market by Region
5.5.1 North America
5.5.1.1 Historical Trend (2018-2024)
5.5.1.2 Forecast Trend (2025-2034)
5.5.2 Europe
5.5.2.1 Historical Trend (2018-2024)
5.5.2.2 Forecast Trend (2025-2034)
5.5.3 Asia Pacific
5.5.3.1 Historical Trend (2018-2024)
5.5.3.2 Forecast Trend (2025-2034)
5.5.4 Latin America
5.5.4.1 Historical Trend (2018-2024)
5.5.4.2 Forecast Trend (2025-2034)
5.5.5 Middle East and Africa
5.5.5.1 Historical Trend (2018-2024)
5.5.5.2 Forecast Trend (2025-2034)
6 North America Floating Solar Panels Market Analysis
6.1 United States of America
6.1.1 Historical Trend (2018-2024)
6.1.2 Forecast Trend (2025-2034)
6.2 Canada
6.2.1 Historical Trend (2018-2024)
6.2.2 Forecast Trend (2025-2034)
7 Europe Floating Solar Panels Market Analysis
7.1 United Kingdom
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Germany
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 France
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.4 Italy
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
7.5 Others
8 Asia Pacific Floating Solar Panels Market Analysis
8.1 China
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Japan
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 India
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 ASEAN
8.4.1 Historical Trend (2018-2024)
8.4.2 Forecast Trend (2025-2034)
8.5 Australia
8.5.1 Historical Trend (2018-2024)
8.5.2 Forecast Trend (2025-2034)
8.6 Others
9 Latin America Floating Solar Panels Market Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Argentina
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Mexico
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 Others
10 Middle East and Africa Floating Solar Panels Market Analysis
10.1 Saudi Arabia
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 United Arab Emirates
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
10.3 Nigeria
10.3.1 Historical Trend (2018-2024)
10.3.2 Forecast Trend (2025-2034)
10.4 South Africa
10.4.1 Historical Trend (2018-2024)
10.4.2 Forecast Trend (2025-2034)
10.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyer's Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Competitive Landscape
13.1 Supplier Selection
13.2 Key Global Players
13.3 Key Regional Players
13.4 Key Player Strategies
13.5 Company Profiles
13.5.1 Floating Solar UK
13.5.1.1 Company Overview
13.5.1.2 Product Portfolio
13.5.1.3 Demographic Reach and Achievements
13.5.1.4 Certifications
13.5.2 Akuo Industries
13.5.2.1 Company Overview
13.5.2.2 Product Portfolio
13.5.2.3 Demographic Reach and Achievements
13.5.2.4 Certifications
13.5.3 Yellow Tropus Pvt.Ltd
13.5.3.1 Company Overview
13.5.3.2 Product Portfolio
13.5.3.3 Demographic Reach and Achievements
13.5.3.4 Certifications
13.5.4 JA Solar Technology Co., Ltd.
13.5.4.1 Company Overview
13.5.4.2 Product Portfolio
13.5.4.3 Demographic Reach and Achievements
13.5.4.4 Certifications
13.5.5 Hanwha Group
13.5.5.1 Company Overview
13.5.5.2 Product Portfolio
13.5.5.3 Demographic Reach and Achievements
13.5.5.4 Certifications
13.5.6 Others
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