The global cumulative installed capacity of floating solar plants was 675.389 MW in 2017, and is expected to reach 4127.567 MW by 2024, while actuating at an estimated CAGR of 30.7% from 2018 to 2024. The growth is primarily attributed to the difficulty faced in land acquisitions and increased efficiency of solar panels due to cooling effect of water. Moreover, rising investments in R&D by key players, along with various government initiatives promoting the adoption of floating solar technology are expected to augment the market demand over the forecast period.
The years used for the assessment are as follows;
- Historical year : 2014, 2015, and 2016
- Base year : 2017
- Forecast period : 2018 – 2024
The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
- Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
- Interacting with key opinion leaders of the market and developing data points based on interaction with them
- Study of past trends in the market and their year on year Impact on the market size and share
- Analyzing the collected data points
- Bridging the data points to calculate the total floating solar energy market and its various segments
- Anticipating potential risks
- Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the floating solar energy market
- Finalizing the overall size and share for the global floating solar energy market
- To classify the global floating solar energy market into segments by product type, location, technology, application, capacity, and region and analyze their growth prospects individually.
- To analyze market trends, opportunities, drivers and restraints associated with the floating solar energy market.
- Profiling key companies operating in the global floating solar energy market.
- To study market response with respect to the mergers and acquisitions in the industry.
The research scope for global floating solar energy market is as follows:
By Product Type
- Solar Tracking
- Concentrated Solar Power (CSP) & Concentrator Photovoltaics (CPV)
- Small-scale (<100kW)
- Medium-scale (100kW-10MW)
- Large-scale (>10MW)
- North America
- Asia-Pacific (APAC)
- Rest of the World (RoW)
- Middle East & Africa (MEA)
- South America