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Floating Solar Panels Market Report: 69% Of Growth To Originate From APAC, Driven By Increasing Investments In Renewable Energy – Technavio'

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NEW YORK, July 29, 2022 /PRNewswire/ — The floating solar panels market size is expected to grow by USD 775.85 million from 2021 to 2026, progressing at a CAGR of 16.89% as per the latest market report by Technavio. The increasing investments in renewable energy is one of the key drivers supporting the floating solar panels market growth. Advancing from fossil fuels to renewable sources, such as wind and solar, is the key to achieving economic, social, and environmental development. This can be attributed to the low cost required to manufacture PV system components due to technological advances that result in the reduction of the overall capital expenditure per MW of power generation. Several countries have been adopting renewables as the primary energy source. For instance, Mindanao, the Philippines, is witnessing an uptrend in renewable energy projects. Jose Layug Jr., the chairman of the National Renewable Energy Board, the Philippines, announced that the power mix of Mindanao is composed of 40% renewables, and the rest is non-renewables. This mix is likely to increase further, where the share of renewables is expected to grow during the forecast period. 

Technavio has announced its latest market research report titled Floating Solar Panels Market by Product and Geography – Forecast and Analysis 2022-2026

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Floating Solar Panels Market: Segmentation Analysis

The report extensively covers the floating solar panels market segmented by product (stationary floating solar panels and tracking floating solar panels) and geography (APAC, North America, Europe, MEA, and South America).

Product Landscape

  • Revenue Generating Segment – The floating solar panels market share growth in the stationary floating solar panels segment will be significant for revenue generation. The Stationary floating solar panels have a lower conversion efficiency than tracking floating solar panels due to their limited exposure to the sun. However, tracking solar panels have a higher cost associated with them than stationary floating solar panels. For a tracker to be economically viable, the additional cost of installing and maintaining the tracker over the lifetime of the system should be lower than the increased energy harvest from the solar PV system. In such projects, stationary solar panels are found to be more appropriate, especially in emerging and developing economies. Such factors will drive the segment growth during the forecast period.

Geography Landscape

  • Regional Highlights – 69% of the market’s growth will originate from APAC during the forecast period. Japan, China, and India are the key markets for floating solar panels market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The increased growth of the solar power industry will facilitate the floating solar panels market growth in APAC over the forecast period.

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Floating Solar Panels Market: Vendor Analysis

The floating solar panels market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

  • Ciel and Terre International
  • JA Solar Technology Co. Ltd.
  • JinkoSolar Holding Co. Ltd.
  • Kyocera Corp.
  • Ocean Sun AS
  • Pristine Sun Corp.
  • Sinovoltaics Group Ltd.
  • Tata Sons Pvt. Ltd.
  • Trina Solar Co. Ltd.
  • Vikram Solar Ltd.
  • To know about the vendor offerings – Click Now!

Get ready to achieve excellent business outcomes from this exclusive Floating Solar Panels Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as –

  • What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
  • What is the current trend taking place in the market space?
  • Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
  • What are market drivers, restraints, and challenges impacting demand & growth of the market?
  • Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?

The competitive scenario provided in the Floating Solar Panels Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don’t wait, Make a strategic approach & boost your business goals with our Floating Solar Panels Market Forecast Report – Buy Now!

Related Reports:

  • The solar home systems market share is expected to increase to USD 1.39 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.4%.
  • The solar central inverters market share is expected to increase by USD 3.81 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 15.43%.

Floating Solar Panels Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 16.89%

Market growth 2022-2026

USD 775.85 million

Market structure


YoY growth (%)


Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 69%

Key consumer countries

Japan, China, the US, India, and the UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Ciel and Terre International, JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Kyocera Corp., Ocean Sun AS, Pristine Sun Corp., Sinovoltaics Group Ltd., Tata Sons Pvt. Ltd., Trina Solar Co. Ltd., and Vikram Solar Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

Table of Content

1. Executive Summary

1.1 Market Overview

Exhibit 01: Key Finding 1

Exhibit 02: Key Finding 1

Exhibit 03: Key Finding 2

Exhibit 04: Key Finding 3

Exhibit 05: Key Finding 4

Exhibit 06: Key Finding 5

Exhibit 07: Key Finding 5

2. Market Landscape

2.1 Market ecosystem

Exhibit 08: Parent market

Exhibit 09: Market characteristics

2.2 Value chain analysis

Exhibit 10: Value chain analysis: Global renewable electricity market

2.2.1 Inputs

2.2.2 Operations

2.2.3 Distribution and logistics

2.2.4 Marketing and sales

2.2.5 Aftermarket and service

2.2.6 Industry innovations

3. Market Sizing

3.1 Market segment analysis 

Exhibit 11: Market segments

3.2 Market size 2021 

3.3 Market Definition

Exhibit 12: Offerings of vendors included in the market definition

3.4 Market outlook: Forecast for 2021 – 2026 

Exhibit 13: Global – Market size and forecast 2021 – 2026 ($ million)

Exhibit 14: Global market: Year-over-year growth 2021 – 2026 (%)

4. Five Forces Analysis

4.1 Five Forces Summary

Exhibit 16: Five forces analysis 2021 & 2026

4.2 Bargaining power of buyers

Exhibit 17: Bargaining power of buyers

4.3 Bargaining power of suppliers

Exhibit 18: Bargaining power of suppliers

4.4 Threat of new entrants

Exhibit 19: Threat of new entrants

4.5 Threat of substitutes

Exhibit 20: Threat of substitutes

4.6 Threat of rivalry

Exhibit 21: Threat of rivalry

4.7 Market condition

Exhibit 22: Market condition – Five forces 2021

5 Market Segmentation by Product

5.1 Market segments

Exhibit 23: Product – Market share 2021-2026 (%)

5.2 Comparison by Product

Exhibit 24: Comparison by Product

5.3 Stationery floating solar panels – Market size and forecast 2021-2026

Exhibit 25: Stationery floating solar panels – Market size and forecast 2021-2026 ($ million)

Exhibit 26: Stationery floating solar panels – Year-over-year growth 2021-2026 (%)

5.4 Tracking floating solar panels – Market size and forecast 2021-2026

Exhibit 27: Tracking floating solar panels – Market size and forecast 2021-2026 ($ million)

Exhibit 28: Tracking floating solar panels – Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Product

Exhibit 29: Market opportunity by Product

6. Customer landscape

6.1 Overview

 Technavio’s customer landscape matrix compares Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate, and Key purchase criteria

Exhibit 30: Customer landscape?

7. Geographic Landscape

7.1 Geographic segmentation

Exhibit 31: Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 32: Geographic comparison

7.3 APAC – Market size and forecast 2021-2026

Exhibit 33: APAC – Market size and forecast 2021-2026 ($ million)

Exhibit 34: APAC – Year-over-year growth 2021-2026 (%)

7.4 Europe – Market size and forecast 2021-2026

Exhibit 35: Europe – Market size and forecast 2021-2026 ($ million)

Exhibit 36: Europe – Year-over-year growth 2021-2026 (%)

7.5 North America – Market size and forecast 2021-2026

Exhibit 37: North America – Market size and forecast 2021-2026 ($ million)

Exhibit 38: North America – Year-over-year growth 2021-2026 (%)

7.6 MEA – Market size and forecast 2021-2026

Exhibit 39: MEA – Market size and forecast 2021-2026 ($ million)

Exhibit 40: MEA – Year-over-year growth 2021-2026 (%)

7.7 South America – Market size and forecast 2021-2026

Exhibit 41: South America – Market size and forecast 2021-2026 ($ million)

Exhibit 42: South America – Year-over-year growth 2021-2026 (%)

7.8 Key leading countries

Exhibit 43: Key leading countries

7.9 Market opportunity by geography

Exhibit 44: Market opportunity by geography ($ million)

8. Drivers, Challenges, and Trends

8.1 Market drivers

8.1.1 Increasing investments in renewable energy

8.1.2 Increasing benefits of floating solar panels

8.1.3 Increasing governmental support

8.2 Market challenges

8.2.1 Technical challenges

8.2.2 Intermittency in solar power generation

8.2.3 Competition from alternate sources of energy

Exhibit 45: Impact of drivers and challenges

8.3 Market trends

8.3.1 Increasing conversion efficiency of solar PVs

8.3.2 Emergence of smart cities

8.3.3 Hybrid floating solar power plants

9. Vendor Landscape

9.1 Overview

Exhibit 46: Vendor landscape

The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

9.2 Landscape disruption

Exhibit 47: Landscape disruption?

Exhibit 48: Industry risks

9.3 Competitive scenario

10. Vendor Analysis

10.1 Vendors covered

Exhibit 49: Vendors covered

10.2 Market positioning of vendors

Exhibit 50: Market positioning of vendors?

10.3 Ciel and Terre International

Exhibit 51: Ciel and Terre International – Overview

Exhibit 52: Ciel and Terre International – Product and service

Exhibit 53: Ciel and Terre International – Key offerings

10.4 JA Solar Technology Co. Ltd.

Exhibit 54: JA Solar Technology Co. Ltd. – Overview

Exhibit 55: JA Solar Technology Co. Ltd. – Business segments

Exhibit 56: JA Solar Technology Co. Ltd. – Key offerings

Exhibit 57: JA Solar Technology Co. Ltd. – Segment focus

10.5 JinkoSolar Holding Co. Ltd.

Exhibit 58: JinkoSolar Holding Co. Ltd. – Overview

Exhibit 59: JinkoSolar Holding Co. Ltd. – Product and service

Exhibit 60: JinkoSolar Holding Co. Ltd. – Key News

Exhibit 61: JinkoSolar Holding Co. Ltd. – Key offerings

10.6 Kyocera Corp.

Exhibit 62: Kyocera Corp. – Overview

Exhibit 63: Kyocera Corp. – Business segments

Exhibit 64: Kyocera Corp. – Key News

Exhibit 65: Kyocera Corp. – Key offerings

Exhibit 66: Kyocera Corp. – Segment focus

10.7 Ocean Sun AS

Exhibit 67: Ocean Sun AS – Overview

Exhibit 68: Ocean Sun AS – Product and service

Exhibit 69: Ocean Sun AS – Key offerings

10.8 Pristine Sun Corp.

Exhibit 70: Pristine Sun Corp. – Overview

Exhibit 71: Pristine Sun Corp. – Product and service

Exhibit 72: Pristine Sun Corp. – Key offerings

10.9 Sinovoltaics Group Ltd.

Exhibit 73: Sinovoltaics Group Ltd. – Overview

Exhibit 74: Sinovoltaics Group Ltd. – Product and service

Exhibit 75: Sinovoltaics Group Ltd. – Key offerings

10.10 Tata Sons Pvt. Ltd.

Exhibit 76: Tata Sons Pvt. Ltd. – Overview

Exhibit 77: Tata Sons Pvt. Ltd. – Business segments

Exhibit 78: Tata Sons Pvt. Ltd. – Key offerings

Exhibit 79: Tata Sons Pvt. Ltd. – Segment focus

10.11 Trina Solar Co. Ltd.

Exhibit 80: Trina Solar Co. Ltd. – Overview

Exhibit 81: Trina Solar Co. Ltd. – Business segments

Exhibit 82: Trina Solar Co. Ltd. – Key offerings

Exhibit 83: Trina Solar Co. Ltd. – Segment focus

10.12 Vikram Solar Ltd.

Exhibit 84: Vikram Solar Ltd. – Overview

Exhibit 85: Vikram Solar Ltd. – Product and service

Exhibit 86: Vikram Solar Ltd. – Key offerings

11. Appendix

11.1 Scope of the report

11.1.1 Market Definition


11.1.3 Notes and Caveats

11.2 Currency conversion rates for US$

Exhibit 87: Currency conversion rates for US$?

11.3 Research Methodology 

Exhibit 88: Research Methodology

Exhibit 89: Validation techniques employed for market sizing?

Exhibit 90: Information sources

11.4 List of abbreviations

Exhibit 91: List of abbreviations

About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected] Website:

SOURCE Technavio