Ease of Combination With Hydropower Plant Driving the Growth of Floating Solar Farm Market
BriefingWire.com, 1/19/2021 - The Global market for Floating Solar Farm is forecast to reach $2.1 Billion by 2025, growing at CAGR of 20% from 2020 to 2025. The market growth is mainly driven by factors including scarcity of land for land-based solar farms, simple installation, and deployment with a high degree of modularity on sites, limited anchoring, and mooring requirements. Moreover, as a floating solar farm are anchored at a particular position, they can be conveniently transported around the water body, thereby providing a portability factor.
Key Takeaways
Onshore floating solar farm held the highest market share in 2019 and it is estimated to witness the significant market growth during the forecast period 2020-2025. This is due to favourable environmental conditions of the onshore water bodies such as lakes, rivers, ponds, and others in compariso
Pumps and Motors Market 2020 Global Leading Companies Analysis, Revenue, Trends and Forecasts 2026 texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.
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The U.S. industrial pump market size is expected to reach USD 8.74 billion by 2027 with the market projected to register a CAGR of 1.7%
Rising E&P activities in the country coupled with increasing crude oil production in both onshore and offshore oil fields is expected to boost the demand for industrial pumps over the forecast period.
Rising expectations of customers in the past few decades have led to increased spending by the end-user industries to improve the quality of industrial pumps along with installing advanced process control. This has further led to increased spending by the industrial pump manufacturers in the region in an attempt to improve energy efficiency which is likely to benefit the market growth.