Market overview:
Growing concern about using fossil fuels to generate electricity, coupled with growing demand for energy, are some of the key factors driving the floating solar panel market. Additionally, growing business investment in research and development (R&D), which has led to lower cost of solar panels, and government support, in the form of various programs, are also spurring industry growth.

Recent developments:
Sulzer reduces the pressure of pumping operations for large-scale energy projects.

Market Drivers and Restrains:
The rapid reduction in fossil fuel reserves has made it necessary to use renewable sources of electricity generation. Solar energy has become one of the fastest growing renewable energy sources due to the ease of installation of the system and the presence of a large amount of sunlight around the world, further contributing to the growth of the market. The advantages of placing floating panels on conventional plants are likely to promote growth. However, the Covid-19 outbreak is estimated to be hampering the floating solar panel supply chain. The pandemic is expected to send panel prices soaring as manufacturers face material supply shortages, stagnant international trade affecting the export market and labor shortages. Delayed project execution due to supply chain disruptions will further hamper the growth of the industry.

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https://www.marketdataforecast.com/market-reports/floating-solar-panel-market

Report is segmented as:
By Type:
• Stationary
• Solar tracking
By Location:
• Onshore
• Offshore
By Technology:
• Photovoltaics
• Concentrated solar power

Geographical Segmentation:
Asia-Pacific represented the biggest income portion of 74.3% in 2019. In Japan, the infiltration level of floating solar panels is high because of less land accessibility, just as a restricted measure of non-renewable energy sources. Accordingly, the public authority has approved a few floating intends to meet developing power utilization with less harm to the climate. In the APAC area, the entrance of floating solar innovation is relied upon to increment because of its high market potential. Furthermore, the declining cost of solar chargers in the locale, combined with a developing consciousness of floating solar innovation, is relied upon to help development in the years to come.

Impact of COVID-19 on Floating Solar Panel Market:
Due to COVID-19, the world economy is going through a difficult phase. The ongoing pandemic has disrupted the entire value chain for manufactured goods, including floating solar panels. With the closure of commercial and industrial establishments, in order to limit the spread of the disease, there has been a temporary stoppage in the production of solar panels during the first quarter of 2020. However, it is expected that with the lifting of the lockdowns and with economies returning to normal, the projects, which could not be completed in 2020, will accelerate and be completed by the end of 2021.

Key market players:
• Sulzer Ltd.
• KYOCERA Corporation
• Trina Solar
• Yellow Tropus Pvt. Ltd.
• Wuxi Suntech Power Co., Ltd.
• Yingli Solar
• Ciel & Terre International
• LONGi Solar
• JA SOLAR Technology Co. Ltd.
• Hanwha Group
• Vikram Solar Limited