The global Onshore Floating Solar market was worth around 21 billion USD in 2019 and is expected to be worth around 30 billion USD by 2026, with a CAGR of nearly 16.2% from 2020 to 2026.
The report assesses and analyses the Onshore Floating Solar market on a global and regional scale. The report delves deeply into market competition, constraints, revenue projections, opportunities, evolving trends, and industry-validated data. The report includes revenue forecasts from 2020 to 2026 as well as historical data from 2017 to 2019. (In billions of dollars).
Onshore Floating Solar Industry Insights
Onshore floating solar techniques detect and generate solar energy in bodies of water that are not occupied, such as lakes and artificial basins. In addition, proponents of onshore floating solar technology believe it has the potential to significantly increase the utility of renewable energy in emerging countries with dense populations and limited land.
The first floating solar system was launched in Japan in 2007, and it has since been installed on a small scale in France, Spain, the Republic of Korea, the United States, and Italy. Furthermore, onshore floating solar panels can withstand extreme weather conditions, which will help the onshore floating solar industry grow in the coming years.
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Onshore Floating Solar Market Growth Dynamics
Increased demand for a continuous supply of electricity in factories, as well as continuous blackouts caused by a lack of electricity production, has translated into massive demand for onshore floating solar panels, driving market trends in the onshore floating solar market. Between 2020 and 2026, the market for onshore floating solar is expected to grow significantly as onshore solar energy service providers increase their deployment of solar power units for electricity generation. Nonetheless, the additional costs incurred as a result of the deployment of the onshore floating solar unit will have an impact on market growth during the evaluation period.
Onshore Floating Solar Market Regional Landscape
The Asia Pacific market will grow the most between 2020 and 2026.
Due to the large-scale need for sustainable energy and the requirement for continuous power supply in highly populous countries such as India and China, the Asia Pacific onshore floating solar industry will expand over the specified period. Increased manufacturing units in Asian countries as a result of industrialization and urbanisation, as well as the smart city concept gaining traction in China and India, will boost business in the subcontinent over the forecast period. Rising awareness in Asian countries of solar energy’s abundant availability, as well as rising renewable energy trends in Asia Pacific, will propel the market forward.
Key players profiled in the study are
Ciel and Terre International
Yellow Tropus Pvt. Ltd.
Adtech Systems Limited
EDP S.A. (China Three Gorges Corporation)
Ocean Sun AS
Waaree Energies Ltd.
The global Onshore Floating Solar Market is segmented as follows:
Lightning Protection System
Quarry & Mining
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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