About Marine Solar Panels
Marine solar panels are becoming more popular for powerboats or ships as it reduces the cost of maintenance and running a boat. Marine solar panels are different from regular solar panels as it has been designed to withstand harsh conditions in the sea or ocean. Increasing demand for electricity and rising fuel prices has led the world towards the adoption of renewable energy sources for energy generation and to meet the global electricity demand. Further, the increasing installation of floating solar power plants in the coastal regions will create significant opportunities for the marine solar panels market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is highly fragmented with a large number of vendors and companies exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Marine Solar Panels market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Eco Marine Power (Japan), Mission Solar (United States), Renogy (United States), SUNBEAMsystem (Sweden), Solarland (United States), Solbian (Italy), Nature Power Products (United States), LG Corporation (South Korea), HQST (United States), Canadian Solar (Canada), JinkoSolar (China), Metsolar (Lithuania), Newpowa (United States), Ameresco (United States) and SunWare GmbH & Co KG (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Marine Solar Panels market by Type (Semi-Flexible Marine Solar Panels, Semi-Rigid Walk on Marine Solar Panels, Rigid Marine Solar Panels and Portable Solar Panels), Application (Power Boats, Offshore Vessels, Onshore Vessels and Others) and Region.
On the basis of geography, the market of Marine Solar Panels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Marine Solar Panels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Amorphous will boost the Marine Solar Panels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Focus on the Technological Improvements of Marine Solar Panels and High Adoption of Horizontal Installed PV Panels for Ships Due to its More Efficiency as Compared to Vertical Type
Market Growth Drivers:
Surging Demand for Solar Panels for Application in Power Boats to Reduce the Maintenance Cost, High Growth of Portable and Semi-Flexible Marine Solar Panels Among the Customers, Increasing Development of Floating Solar Power Plants on the Sea or Ocean in Order to Generate Energy and Growing Need for Renewable Energy Systems in Shipping Due to Increased Fuel Cost
Challenges:
Presence of a Large Number of Marine Solar Panel Manufacturers in the Market and Requirement of Lot of Space and Heavy Weight of Some Types of Solar Panels May Limit the Adoption
Restraints:
High Initial Investment Cost and Requirement of Sunlight to Produce Energy
Opportunities:
Rapidly Growing Adoption of Power Boats in the Coastal Regions Due to Increasing Popularity of Water Sports and Increasing Initiative by the Governments in developing Economies to Create Awareness About the Renewable Energy
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Marine Solar Panels Manufacturers, Marine Solar Panels Suppliers and Distributors, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.