Floating Solar Market Landscape 2025: Forecast Data and Growth Strategy Insights

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What Is the Expected CAGR for the Floating Solar Market Through 2025?
There has been a rapid expansion in the size of the floating solar market in the recent past. The market is predicted to surge from 4.72 billion dollars in 2024 to 5.97 billion dollars in 2025, representing a compound annual growth rate (CAGR) of 26.5%. The significant growth in the historic period has been driven by a mixture of factors such as rising urbanization, growing consciousness about the benefits of renewable energy, enhanced awareness of climate change, increased adherence to clean electricity norms, and a hike in investments in solar energy.

What's the Projected Size of the Global Floating Solar Market by 2029?
Expectations for the floating solar market size indicate a significant rise in the coming years, reaching $15.08 billion by 2029 with a CAGR of 26.1%. Factors contributing to the projected growth through this period include heightened investment in renewable energies, escalating energy prices, growing land demands due to agricultural and urban development, an increase in energy needs, and the escalating requirement for electricity that concurrently lowers environmental impact. Critical trends anticipated within this period encompass advancements in technology, the introduction of hybrid systems, the integration of smart grids, the use of anchoring systems, and the implementation of water quality monitoring systems.

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Top Growth Drivers in the Floating Solar Industry: What's Accelerating the Market?
The increasing attention towards the generation of clean-fuel energy is anticipated to fuel the floating solar market's growth. Clean-fuel energy, which comes from renewable sources and causes negligible or no greenhouse gas emissions, is vital for a sustainable energy future. Environmental concerns, the quest for energy security, and favorable government policies are among the driving forces behind this focus on clean fuel energy generation. Floating solar systems have a substantial part to play in clean-fuel energy generation as they offer an efficient, renewable electricity source, drastically reduce land use, and offer added environmental advantages. For instance, as per the International Energy Agency, a France-based international organization, total investment in clean energy rose from 1,617 billion in 2022 to 1,740 billion in May 2023. Hence, the growing stress on clean fuel energy generation is a considerable propelling force for the floating solar market.

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What Trends Will Shape the Floating Solar Market Through 2029 and Beyond?
Key businesses in the floating solar sector are prioritizing the advancement of novel technologies and the creation of substantial installations, such as floating solar schemes, to boost energy production, increase efficiency, and optimize the usage of water bodies for generating renewable energy. Floating solar initiatives involve solar power systems being mounted on floatable structures or platforms on water bodies like lakes, reservoirs, and ponds. In a notable example, Noria Energy, a renewable energy firm from the US, unveiled the Aquasol floating solar projects in June 2023, at the Urrá Dam in Colombia, making it the biggest floating solar project in South America. This groundbreaking project is fitted with several solar panels that are strategically positioned on uniquely designed floating platforms to yield maximum energy while conserving land. The natural cooling feature of the water enhances the performance and efficiency of the PV panels in the floating solar system. Neatly integrating with the existing hydropower infrastructure at the Urrá Dam, the project optimizes total energy production and aids in promoting a more reliable and sustainable power source.

What Are the Main Segments in the Floating Solar Market?
The floating solarmarket covered in this report is segmented -

1) By Type: Stationary Floating Solar Panels, Tracking Floating Solar Panels
2) By Capacity: Below 5MW, 5MW To 50MW, Above 50MW
3) By Connectivity: On Grid, Off Grid

Subsegments:
1) By Stationary Floating Solar Panels: Fixed-Angle Floating Solar Systems, Fixed Ground-Mounted Floating Platforms, Shallow Water Stationary Floating Systems, Low-Cost Stationary Panel Arrays, Offshore Stationary Floating Solar Arrays
2) By Tracking Floating Solar Panels: Single-Axis Tracking Floating Solar Panels, Dual-Axis Tracking Floating Solar Panels, Automatic And Adaptive Tracking Systems, Integrated Hybrid Solar Panels With Tracking Systems, High-Efficiency Tracking Floating Solar Arrays

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Which Top Companies are Driving Growth in the Floating Solar Market?
Major companies operating in the floating solar market are Sharp Corporation, LONGi Green Energy Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Kyocera Corporation, Trina Solar Limited, JA SOLAR Technology Co. Ltd., Canadian Solar Inc., Sungrow Power Supply Co. Ltd., Risen Energy Co. Ltd., First Solar Inc., GCL-Poly Energy Holdings Limited, SunPower Corporation, Tata Power Solar Systems Limited, Cleantech Solar, Vikram Solar Limited, REC Solar Holdings AS, Greenyellow, Seraphim Solar System Co. Ltd., Adtech Systems Limited, Pristine Sun Corporation, Mecasolar, Ciel & Terre International, Yingli Green Energy Holding Company Limited, Solaris Synergy, Swimsol GmbH

Which Regions Will Dominate the Floating Solar Market Through 2029?
Asia-Pacific was the largest region in the floating solar market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the floating solar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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