Floating Solar Power Market by Type (Stationary, Solar Tracking) by Location (Onshore, Offshore) by Capacity (Up to 10 Mw, 10 Mw 50 Mw, Above 50 Mw) and by Region - Global Trends and Forecasts to 2027
Floating solar power or floating photovoltaics (FPV) are power generators that are deployed upon water bodies mounted upon a firm platform. The growing demands for energy, energy sustainability, and GHG repercussions of conventional sources of energy have increased the utilization of renewable sources such as solar power. The compact design of solar photovoltaics has been driving factor for floating solar power market.
The floating solar power market witnessed a relatively small growth rate in terms of demand in 2020 due to Covid-19. The mass lockdowns and restrictions imposed by governments due to which the manufacturing facilities were brought down to a standstill affecting the market dynamics. The pandemic hindered the overall market's supply chain, resulting in delayed and limited supply of the product. There was rise in PV cost due to restricted supply thus increasing the installation cost of floating solar power.
The floating solar power market is fragmented based on the type into stationary, and solar tracking. The ease of installation and low maintenance are prime reasons for the stationary floating PV to lead the market share. Solar tracking is gaining demand for higher efficiency they offer coupled with higher cost of technology and maintenance which is acting as a challenge.
The market is further segmented into location type i.e. onshore, and offshore. The average cost of installation expressed in per MW is economical when small water bodies such as lakes, ponds, and rivers are utilized for PV platform. The offshore FPV offers higher energy capacity while the complexity increases with depth of seabed.
As per region, the market can be segmented into North America, South America, Europe, Asia Pacific, Middle East & Africa. The rising demand for renewable energy in Asia Pacific region is driving the market at high CAGR. Developing countries such as China, India, Malaysia, Indonesia etc. are rapid growing markets supported by government initiatives and subsidies to meet sustainability as per 2015 Paris Agreement. Developed countries such as Japan and South Korea have been funding the growth of solar PV since 2015. For e.g. The Korean government in 2018 shelled out 2.6 trillion won ($2.29 billion) in state subsidies for promotion of solar panels and other renewable energy source, up by 530 billion won from 2017, as a part of state energy policy shifting away from nuclear and fossil fuels. By category, solar energy took the largest share of the subsidies at 45.3% with 1.17 trillion won ($978.5 million) in 2018, It was followed by bioenergy (710.4 billion won ($594 million)) and wind energy {148.4 billion won ($124 million)}. Subsidies for solar energy have continued to grow with 940.9 billion won ($786 million) in 2016 and 1 trillion ($836 million) won in 2017.
The major players in the floating solar power market are JA Solar Technology Co., Ltd. (China), Cleantech Solar (Singapore), Trina Solar (China), Wuxi Suntech Power Co., Ltd. (China), Yingli Solar (China), and Kyocera Corporation (Japan).
Key Questions Addressed by the Report
Frequently Asked Questions (FAQs)
- What is the current size of the floating solar power market?
- What are the major drivers for the floating solar power market?
- Which is the largest segment, by application, during the forecasted period in the floating solar power market?
- Which is the fastest-growing region during the forecasted period in the floating solar power market?
- What are the trends that could be witnessed over the next five years?
- What will be the revenue pockets for the floating solar power market market in the next five years?
TABLE OF CONTENTS
1 INTRODUCTION
1.1. STUDY OBJECTIVES
1.2. DEFINITION
1.3. INCLUSIONS VS. EXCLUSIONS
1.4. MARKET SCOPE
1.4.1. MARKET SEGMENTATION
1.4.2. REGIONAL SCOPE
1.5. YEARS CONSIDERED
1.6. CURRENCY
1.7. LIMITATIONS
1.8. STAKEHOLDERS
1.9. SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1. RESEARCH DATA
2.2. MARKET BREAKDOWN AND DATA TRIANGULATION
2.2.1. SECONDARY DATA
2.2.1.1. KEY DATA FROM SECONDARY SOURCES
2.2.2. PRIMARY DATA
2.2.2.1. KEY DATA FROM PRIMARY SOURCES
2.2.2.2. KEY INDUSTRY INSIGHTS
2.2.2.3. BREAKDOWN OF PRIMARY INTERVIEWS
2.3. IMPACT OF COVID-19
2.4. SCOPE
2.5. MARKET SIZE ESTIMATION
2.5.1. BOTTOM-UP APPROACH
2.5.2. TOP-DOWN APPROACH
2.5.3. DEMAND-SIDE ANALYSIS
2.5.3.1. Assumptions for demand-side analysis
2.5.3.2. Demand-side Calculation
2.5.4. SUPPLY-SIDE ANALYSIS
2.5.4.1. Supply side assumptions
2.5.4.2. Supply side calculation
2.6. FORECAST
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.1. INTRODUCTION
5.2. MARKET DYNAMICS
5.2.1. DRIVERS
5.2.2. RESTRAINTS
5.2.3. OPPORTUNITIES
5.2.4. CHALLENGES
5.3. COVID-19 IMPACT
5.4. TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.5. VALUE/SUPPLY CHAIN ANALYSIS
5.6. MARKET MAP/ECOSYSTEM
5.7. TECHNOLOGY ANALYSIS
5.8. AVERAGE SELLING PRICE TREND
5.9. BUYING CRITERIA
5.10. KEY CONFERENCES & EVENTS IN 20222023
5.11. PATENT ANALYSIS
5.12. TRADE DATA
5.13. TARIFFS, CODES & REGULATIONS
5.13.1. REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.13.2. REGULATORY FRAMEWORK
5.14. PORTERS FIVE FORCES
5.15. CASE STUDY ANALYSIS
6 FLOATING SOLAR POWER MARKET, BY TYPE
(USD Million - 2020, 2021, 2022-e, 2027-f)
6.1. INTRODUCTION
6.2. STATIONARY
6.3. SOLAR TRACKING
7 FLOATING SOLAR POWER MARKET, BY LOCATION
(USD Million - 2020, 2021, 2022-e, 2027-f)
7.1. INTRODUCTION
7.2. ONSHORE
7.3. OFFSHORE
8 FLOATING SOLAR POWER MARKET, BY CAPACITY
(USD Million - 2020, 2021, 2022-e, 2027-f)
8.1. INTRODUCTION
8.2. UP TO 10 MW
8.3. 10 MW 50 MW
8.4. ABOVE 50 MW
9 FLOATING SOLAR POWER MARKET, BY REGION
(USD Million - 2020, 2021, 2022-e, 2027-f)
9.1. INTRODUCTION
9.2. NORTH AMERICA
9.2.1. BY TYPE
9.2.2. BY LOCATION
9.2.3. BY CAPACITY
9.2.4. BY COUNTRY
9.2.4.1. US
9.2.4.2. CANADA
9.2.4.3. MEXICO
9.3. ASIA PACIFIC
9.3.1. BY TYPE
9.3.2. BY LOCATION
9.3.3. BY CAPACITY
9.3.4. BY COUNTRY
9.3.4.1. CHINA
9.3.4.2. INDIA
9.3.4.3. JAPAN
9.3.4.4. REST OF ASIA PACIFIC
9.4. EUROPE
9.4.1. BY TYPE
9.4.2. BY LOCATION
9.4.3. BY CAPACITY
9.4.4. BY COUNTRY
9.4.4.1. UK
9.4.4.2. FRANCE
9.4.4.3. GERMANY
9.4.4.4. ITALY
9.4.4.5. REST OF EUROPE
9.5. MIDDLE EAST & AFRICA
9.5.1. BY TYPE
9.5.2. BY LOCATION
9.5.3. BY CAPACITY
9.5.4. BY COUNTRY
9.5.4.1. SAUDI ARABIA
9.5.4.2. UAE
9.5.4.3. REST OF MIDDLE EAST & AFRICA
9.6. SOUTH AMERICA
9.6.1. BY TYPE
9.6.2. BY LOCATION
9.6.3. BY CAPACITY
9.6.4. BY COUNTRY
9.6.4.1. BRAZIL
9.6.4.2. ARGENTINA
9.6.4.3. REST OF SOUTH AMERICA
10 COMPETITIVE LANDSCAPE
10.1. KEY PLAYERS STRATEGIES OVERVIEW
10.2. MARKET SHARE (BY REVENUE), 2021
10.3. REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS, 2021
10.4. COMPANY EVALUATION MATRIX/QUADRANT
10.4.1. STAR
10.4.2. PERVASIVE
10.4.3. EMERGING LEADER
10.4.4. PARTICIPANT
10.5. FLOATING SOLAR POWER MARKET:COMPANY FOOTPRINT
10.6. COMPETITIVE SCENARIO
11 COMPANY PROFILES
11.1. INTRODUCTION
11.2. JA SOLAR TECHNOLOGY CO., LTD.
11.2.1. Business Overview
11.2.2. Products & Services
11.2.3. Recent Developments
11.2.4. MnM View
11.2.4.1. Key strategies/right to win
11.2.4.2. Strategic choices made
11.2.4.3. Weaknesses and competitive threats
11.3. CLEANTECH SOLAR
11.4. KONCA SOLAR CELL CO., LTD
11.5. TRINA SOLAR
11.6. WUXI SUNTECH POWER CO., LTD.
11.7. CIEL & TERRE INTERNATIONAL
11.8. YINGLI SOLAR
11.9. KYOCERA CORPORATION
12 APPENDIX
12.1. INSIGHTS OF INDUSTRY EXPERTS
12.2. DISCUSSION GUIDE
12.3. RELATED REPORT
12.4. AUTHOR DETAILS
Note: e-Estimated, f-Forecast
THIS IS A TENTATIVE LIST OF COMPANIES. ADDITIONAL COUNTRIES & COMPANIES MAY BE ADDED/UPDATED DURING THE COURSE OF THE STUDY
DETAILS ON COMPANY OVERVIEW, FINANCIALS, PRODUCT & SERVICES, STRATEGY, AND DEVELOPMENTS MIGHT NOT BE CAPTURED IN CASE OF UNLISTED COMPANIES
Growth opportunities and latent adjacency in Floating Solar Power Market