FLOATING SOLAR FARMS MARKET – JAPAN
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 9.80 Million
Market Forecast in 2033: USD 66.24 Million
Market Growth Rate: 23.65% (2025-2033)
According to the latest report by IMARC Group, “The Japan floating solar farms market size reached USD 9.80 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 66.24 Million by 2033, exhibiting a growth rate (CAGR) of 23.65% during 2025-2033.”
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Japan Floating Solar Farms Industry Trends and Drivers:
The market in Japan of the floating solar farms is undergoing unparalleled growth owing to the renewable energy policies set by the government, the lack of land, new ways of utilizing the water bodies and the effectiveness nature of the floating photovoltaic installations as compared to those on land. There is acute land scarcity in Japan, and the high level of urbanization leaves very little space in which to erect conventional ground-based solar systems, thus the floating solar is a new solution that makes good use of water surfaces such as reservoirs, lakes, ponds, and irrigation channels without taking up space on limited terrestrial space. The government has also demonstrated initiative to be carbon neutral by 2050 and the renewable energy targets in between, which has established solid policy support, financial incentives, and favourable government regulatory conditions that foster the growth of floating solar as a key element of the national renewable energy strategy. The rich water resource of Japan and the presence of numerous reservoirs that have been established to serve as hydroelectric power stations, flood controllers, and water sources offer the perfect sites where floating solar plants can be installed to serve as supplement to the already existing water management systems. The aftermath of the Fukushima nuclear disaster escalated national interest in the independence of renewable energy, and the floating solar can be viewed as a sophisticated technology of Japan showing its technological dominance in the innovation of clean energy.
The technological advantages of floating solar system such as increased energy efficiency through cooling of water contacts, reduced evaporation through reservoirs to support water conservation goals, and algae growth reduction to enhance water quality are benefiting the market. The floating solar systems produce electricity without requiring any land, which is a solution to the environmental issues of disturbance of inhabited areas, whereas the normal agricultural, recreational, or industrial activities can proceed on the surrounding land. Combination of floating solar and hydroelectric plants provides synergies in which the patterns of complementary generation maximize the overall performance of renewable energy generation with solar generation throughout the daytime offsetting fluctuations in hydroelectric generation. The modular floating platforms designs are scalable and can be deployed in various reservoir sizes based on the reservoir conditions and can also be deployed in a variety of operating conditions ranging between utility-scale projects that serve several communities and smaller systems to serve single communities and commercial uses. The generally decreasing prices of photovoltaic modules, sophisticated anchoring methods, and installation technologies have enhanced the economics of floating solar which has lowered the levelized cost of electricity, as well as making projects more viable in a wide range of deployment settings. Additionally, the successful floating solar projects in Japan and other parts of the world have confirmed the reliability of the technology in performance and long term durability which has given the investors confidence in investing more in the new renewable energy category.
Japan Floating Solar Farms Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Japan floating solar farms market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Location Insights:
- Onshore
- Offshore
Capacity Insights:
- Up to 1MW
- 1MW – 5MW
- Above 5MW
Size Insights:
- Utility Scale
- Community
Connectivity Insights:
- On Grid
- Off Grid
Application Insights:
- Residential
- Commercial
- Industrial
- Others
Regional Insights:
- Kanto Region
- Kinki Region
- Central/ Chubu Region
- Kyushu-Okinawa Region
- Tohoku Region
- Chugoku Region
- Hokkaido Region
- Shikoku Region
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Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Additionally, the report features detailed profiles of all major companies in the Japan floating solar farms industry.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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