Onshore Floating Solar Market Size, Share, Trends, Growth 2032

Onshore Floating Solar Market Insights

Zion Market Research has published a report on the global Onshore Floating Solar Market, estimating its value at USD 24.99 Billion in 2023, with projections indicating that it will reach USD 119.14 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 16.9% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Onshore Floating Solar Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

Request Free Sample

Onshore Floating Solar Industry Insights

Onshore floating solar techniques make utility of unoccupied water bodies including lakes and artificial basins for identifying and then generating solar energy. Apart from this, proponents of onshore floating solar technology are of the view that it can substantially increase the utility of renewable energy in emerging countries having dense populations and sparse land. The first floating solar system was launched in 2007 in Japan and then it was installed in France, Spain, the Republic of Korea, the U.S., and Italy on a small scale. Moreover, onshore solar floating panels have the ability to sustain extreme climatic conditions and this can bolster the expansion of the onshore floating solar industry in the years to come.

Onshore Floating Solar Market Growth Dynamics

The surge in the need for a constant supply of electricity in factories and continuous blackouts due to the lack of the production of electricity has translated into humungous demand for onshore floating solar panels, thereby driving onshore floating solar market trends.

With the rise in the deployment of solar power units for producing electricity among the onshore solar energy service providers, the market for onshore floating solar is anticipated to register sizable growth over 2024-2032. Nonetheless, additional charges incurred as a result of the deployment of the onshore floating solar unit will hit the growth of the onshore floating solar market over the assessment timeline.

Request Free Sample

Onshore Floating Solar Market: Report Scope

Onshore Floating Solar Market Regional Landscape

Asia Pacific Market To Record Highest Gains Over 2024-2032

The expansion of the onshore floating solar industry in the Asia Pacific over the specified period is due to the large-scale need of sustainable energy and incessant power supply requirement in highly populous countries such as India and China. Apart from this, a rise in the number of manufacturing units in Asian countries due to industrialization and urbanization as well as the smart city concept gaining momentum in the countries such as China and India will foster business in the sub-continent over the prognostic period. Growing awareness about the abundant availability of solar energy in Asian countries and surging renewable energy trends in Asia Pacific will further promulgate the market size over the assessment timeline.

Onshore Floating Solar Market: Competitive Landscape

Key players profiled in the study are 

• Ciel and Terre International
• Swimsol
• Yellow Tropus Pvt. Ltd.
• Adtech Systems Limited
• Sungrow
• EDP S.A. (China Three Gorges Corporation)
• Ocean Sun AS
• KYOCERA Corporation
• Waaree Energies Ltd.

The global Onshore Floating Solar Market is segmented as follows:

By Component

• PV Modules
• Lightning Protection System
• Anchoring System
• Inverter

By Application

• Irrigation
• Hydroelectric Dam
• Water Treatment
• Quarry & Mining

By Type

• Stationary
• Tracking

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa