The global market for Floating Solar Panels was sized at 3.6 Thousand MWs in 2024 and is projected to reach 9.9 Thousand MWs by 2030, growing at a CAGR of 18.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Floating Solar Panels market.
The deployment of floating solar panels has been accelerating worldwide, driven by technological advancements and increasing environmental awareness. Countries with large water bodies and high solar insolation, such as Japan, China, and India, have been at the forefront of adopting FPV systems. Technological improvements have led to the development of robust and durable floating structures capable of withstanding harsh aquatic environments, including strong currents and waves. Moreover, innovations in panel design and materials have enhanced the efficiency and lifespan of FPV systems. Research and pilot projects have demonstrated that floating solar panels can achieve comparable or even higher performance than their land-based counterparts, primarily due to the cooling effects of water and the reduced presence of dust and debris.
The growth in the floating solar panel market is driven by several factors, including the rising demand for renewable energy and the need to optimize land use. As global efforts to combat climate change intensify, there is a growing push for renewable energy sources that can be deployed quickly and efficiently. Floating solar panels offer a viable solution by utilizing existing water bodies, thus avoiding the land-use challenges associated with traditional solar farms. Technological advancements have made FPV systems more cost-effective and resilient, encouraging broader adoption. Additionally, government policies and incentives aimed at promoting clean energy are playing a crucial role in the expansion of the FPV market. The increasing recognition of the ancillary benefits of floating solar panels, such as reduced water evaporation and improved water quality, further drives their adoption. As more countries and companies invest in floating solar technology, the market is expected to continue its rapid growth, contributing significantly to the global renewable energy landscape.
Segments: Type (Stationary, Tracking).
Geographic Regions/Countries: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
Abstract:
Global Floating Solar Panels Market to Reach 9.9 Thousand MWs by 2030
The global market for Floating Solar Panels estimated at 3.6 Thousand MWs in the year 2024, is expected to reach 9.9 Thousand MWs by 2030, growing at a CAGR of 18.6% over the analysis period 2024-2030. Stationary, one of the segments analyzed in the report, is expected to record a 18.5% CAGR and reach 8.1 Thousand MWs by the end of the analysis period. Growth in the Tracking segment is estimated at 18.6% CAGR over the analysis period.Global Floating Solar Panels Market - Key Trends & Drivers Summarized
Floating solar panels, also known as floating photovoltaic (FPV) systems, represent a cutting-edge innovation in renewable energy technology. These systems involve mounting solar panels on floating structures, typically installed on bodies of water such as reservoirs, lakes, and even the ocean. The concept of FPV systems offers several unique advantages over traditional land-based solar installations, including better energy efficiency due to the cooling effect of water, reduced land use conflicts, and minimized water evaporation from the surfaces they cover. By leveraging otherwise unused water surfaces, floating solar panels can generate substantial amounts of electricity without competing for valuable land resources. This makes them particularly attractive in densely populated regions and areas with limited available land for renewable energy projects.The deployment of floating solar panels has been accelerating worldwide, driven by technological advancements and increasing environmental awareness. Countries with large water bodies and high solar insolation, such as Japan, China, and India, have been at the forefront of adopting FPV systems. Technological improvements have led to the development of robust and durable floating structures capable of withstanding harsh aquatic environments, including strong currents and waves. Moreover, innovations in panel design and materials have enhanced the efficiency and lifespan of FPV systems. Research and pilot projects have demonstrated that floating solar panels can achieve comparable or even higher performance than their land-based counterparts, primarily due to the cooling effects of water and the reduced presence of dust and debris.
The growth in the floating solar panel market is driven by several factors, including the rising demand for renewable energy and the need to optimize land use. As global efforts to combat climate change intensify, there is a growing push for renewable energy sources that can be deployed quickly and efficiently. Floating solar panels offer a viable solution by utilizing existing water bodies, thus avoiding the land-use challenges associated with traditional solar farms. Technological advancements have made FPV systems more cost-effective and resilient, encouraging broader adoption. Additionally, government policies and incentives aimed at promoting clean energy are playing a crucial role in the expansion of the FPV market. The increasing recognition of the ancillary benefits of floating solar panels, such as reduced water evaporation and improved water quality, further drives their adoption. As more countries and companies invest in floating solar technology, the market is expected to continue its rapid growth, contributing significantly to the global renewable energy landscape.
Report Scope
The report analyzes the Floating Solar Panels market, presented in terms of units. The analysis covers the key segments and geographic regions outlined below.Segments: Type (Stationary, Tracking).
Geographic Regions/Countries: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Stationary segment, which is expected to reach 8.1 Thousand MWs by 2030 with a CAGR of a 18.5%. The Tracking segment is also set to grow at 18.6% CAGR over the analysis period.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Floating Solar Panels Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Floating Solar Panels Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Floating Solar Panels Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Kyocera Corporation, Bharat Heavy Electricals Ltd., First Solar, Inc., Jain Irrigation Systems Ltd., NTPC Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 43 companies featured in this Floating Solar Panels market report include:
- Kyocera Corporation
- Bharat Heavy Electricals Ltd.
- First Solar, Inc.
- Jain Irrigation Systems Ltd.
- NTPC Ltd.
- Tata Group
- JA Solar Technology Co., Ltd.
- Sungrow Power Supply Co., Ltd.
- Ciel & Terre International
- Jakson Group
- LONGi Solar Technology Co., Ltd.
- GCL System Integration Technology Company Ltd.
- LA Solar Group
- Glint Solar
- Conrexx Technology
Tariff Impact Analysis: Key Insights for 2025
Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
What’s Included in This Edition:
- Tariff-adjusted market forecasts by region and segment
- Analysis of cost and supply chain implications by sourcing and trade exposure
- Strategic insights into geographic shifts
Buyers receive a free July 2025 update with:
- Finalized tariff impacts and new trade agreement effects
- Updated projections reflecting global sourcing and cost shifts
- Expanded country-specific coverage across the industry
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CHINA
EUROPE
NETHERLANDS
REST OF EUROPE
ASIA-PACIFIC
INDIA
SOUTH KOREA
TAIWAN
REST OF ASIA-PACIFIC
REST OF WORLD
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Kyocera Corporation
- Bharat Heavy Electricals Ltd.
- First Solar, Inc.
- Jain Irrigation Systems Ltd.
- NTPC Ltd.
- Tata Group
- JA Solar Technology Co., Ltd.
- Sungrow Power Supply Co., Ltd.
- Ciel & Terre International
- Jakson Group
- LONGi Solar Technology Co., Ltd.
- GCL System Integration Technology Company Ltd.
- LA Solar Group
- Glint Solar
- Conrexx Technology
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 189 |
| Published | April 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value in 2024 | 3.6 Thousand MWs |
| Forecasted Market Value by 2030 | 9.9 Thousand MWs |
| Compound Annual Growth Rate | 18.6% |
| Regions Covered | Global |
