According to the research,currently the global floating PV market is still a niche market.With the technology development and more stakeholder entering the upcoming PV market, it is predicted that the scale of global floating PV market is going to be near 4GW in 2022,representing 150% year-on-year growth.

While the market demand for floating PV systems currently accounts for only 2% of the total global PV system demand, it is expected to grow at a compound annual growth rate of 15% over the next decade, with cumulative global installations projected to exceed 58GW.

Wood Mackenzie Company explores the exciting future of this segment in its 2022 floating PV developing prospect.

The company's report states that land scarcity, increasing land acquisition costs, new entrants to the market, and increasing market maturity will all contribute to the growth of the floating PV market. Offshore and nearshore floating PV system development is also receiving increasing attention due to some limitations in the number and conditions of land water bodies for installation of floating PV systems.

 The floating PV system has the potential to be the mainstream solution, as global growing demand of PV and the developers looking for innovative ways to increase the installation capacity.

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