Floating Photovoltaics (FPV) Market was valued at USD 1.8 Billion in 2022 and is projected to reach USD 9.0 Billion by 2030, growing at a CAGR of 22.3% from 2024 to 2030.
The global floating photovoltaics (FPV) market is experiencing rapid growth, driven by the increasing demand for renewable energy solutions and the need to optimize land usage for solar energy production. Floating solar systems, placed on bodies of water, offer several advantages, such as reduced land requirements, better efficiency due to cooling effects, and the ability to integrate into existing water infrastructure. The growing adoption of FPV systems is further supported by the increasing emphasis on sustainability and the transition to cleaner energy sources worldwide. As governments and industries push for renewable energy integration, floating photovoltaics are becoming a critical component of the global clean energy landscape, with increasing installations across Asia-Pacific, Europe, and North America. These regions are benefiting from favorable policies, environmental considerations, and the need to mitigate land-use conflicts with other essential sectors such as agriculture and urban development.
Looking ahead, the FPV market presents numerous opportunities for growth, particularly in regions with abundant water bodies such as lakes, reservoirs, and coastal areas. The cost-effectiveness of FPV systems, along with advances in technology, is expected to reduce the overall price of installations and maintenance, making the technology more accessible for both commercial and residential applications. Moreover, as energy storage solutions continue to improve, FPV systems can become even more reliable, providing a stable and consistent energy supply. The growing recognition of the environmental benefits of FPV, such as reducing evaporation from water bodies and promoting biodiversity, is expected to attract further investments and innovation. Additionally, strategic collaborations between FPV developers, governments, and utilities will help overcome infrastructure challenges, enabling the widespread adoption of this promising renewable energy technology.
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Sungrow
Ciel and Terre
BayWa r.e.
LS Electric Co.
Ltd.
Trina Solar
Ocean Sun
Adtech Systems
Waaree Energies Ltd
Isigenere (Isifloating)
Swimsol
Yellow Tropus
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Gloabl Floating Photovoltaics (FPV) Market
Crystalline Silicon
Thin-Film
Ground-Mounted FPV
Ballasted Floating Systems
Anchored Floating Systems
Solar Panels
Floating Structures
Inverters
Electrical Equipment
Utility-Scale
Commercial
Residential
Power Generation
Water Treatment
Hydropower Integration
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Gloabl Floating Photovoltaics (FPV) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Gloabl Floating Photovoltaics (FPV) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Gloabl Floating Photovoltaics (FPV) Market, By Type
6. Gloabl Floating Photovoltaics (FPV) Market, By Application
7. Gloabl Floating Photovoltaics (FPV) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Gloabl Floating Photovoltaics (FPV) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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