Solar Pontoon Boat Market Size & Share, by Type (Non-plastic, Plastic); Location (Inshore, Onshore); System Type (Cable Floating Solution, Anchoring System) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5514
  • Published Date: Jan 08, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Solar Pontoon Boat Market size is predicted to reach USD 90 Billion by the end of 2036, expanding at a CAGR of 15% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of solar pontoon boat was over USD 47 Billion. In the near future, the market is expected to be driven by an increase in the use of renewable energy sources such as solar, wind, and hydro for power generation Renewable energy resources are being invested in by several companies. The demand for solar pontoon boat is expected to increase as a result.

In order to optimize the water management process, renewable floating docks are increasingly being used in water treatment facilities, irrigation systems, and aquaculture farms. These systems will allow electricity production while at the same time efficiently exploiting water resources, contributing to the sustainability of water supply and conservation.


Solar Pontoon Boat Market Overview
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Solar Pontoon Boat Market: Key Insights

Base Year

2023

Forecast Year

2024 - 2036

CAGR

~15%

Base Year Market Size

~USD 47 Billion

Forecast Year Market Size

~USD 90 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Solar Pontoon Boat Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Increasing Support by Government - Governments around the world are putting in place policies and providing incentives for adopting renewable energy sources. Individuals and organizations are being encouraged to make investments in solar systems through subsidies, tax breaks, or feed pontoon tariffs.
  • Shift From Fossil Fuels to Renewables- Clean energy solutions are being encouraged worldwide to reduce fossil fuel dependency and mitigate climate change. In recent decades, the world's consumption of renewable energy has increased substantially. In 2022, the level of consumption was nearly 45,18 exajoules. 
  • Advancement in Solar Panel Technology - The growth of the solar pontoon boat market is driven by continued technological progress in photovoltaic panels, for example, increased efficiency and durability. This is having an impact on the generation of more energy and improving the performance of solar pontoon boats.
  • Rising Awareness About Climate Change - Water shortages are a serious problem across most regions, which has led to an increased focus on water conservation. To optimize water management and thereby support efforts to conserve water, Solar Pontoon boats use renewable energy sources for water treatment, irrigation, and aquaculture.

Challenges

  • High Initial Installation Costs - Compared to traditional energy solutions, the first installation cost of a PV pontoon may be relatively high. Potential buyers, in particular those with limited finances or who do not understand the long-term benefits of solar energy, are likely to be deterred.
  • Technological Limitations Associated are Predicted to Hamper the Market Growth in the Upcoming Period
  • Weather Reliability is Set to Pose Limitation on the Market Growth in the Upcoming Period


Solar Pontoon Boat Segmentation

Type (Non-plastic, Plastic)

In this period, the plastic pontoons segment is expected to make up the largest share of the 60% of the solar pontoon boat market in the projected period. Solar pontoons boat manufactured from plastic are economical, sturdy, and resilient to corrosion. In the forecast period, these key benefits are expected to lead to a strong demand for plastic pontoons based on solar PV. Furthermore, the growth can also be attributed to the account of high integration of renewable energy. The plastic solar pontoon boat hold a wide range of advantages as compared to traditional land-based solar installation one. Solar panels on pontoons can track the sun throughout the day, which can increase their efficiency by up to 20%. Also, solar pontoon boat can be installed on water bodies such as lakes or reservoirs freeing up land for other uses. 

System Type (Cable Floating Solution, Anchoring System)

In terms of system type, the anchoring system segment is anticipated to hold the largest revenue share by the end of 2036. Anchoring system are being developed to monitor anchor tension and pontoon movement remotely, enabling proactive adjustment and maintenance. Anchors made from recycled materials or with minimal environmental impact are gaining traction. These systems automatically adjust anchor tension based on real-time water conditions, reducing risks and maintenance requirements. These are the significant factors driving the growth of this segment in the upcoming period. As anchor structures provide a stable structure visnvis cable floating solutions, anchorage systems are expected to play an important role in the market during the forecast period.

Our in-depth analysis of the global market includes the following segments:

          Type

  • Non-plastic
  • Plastic

          Location

  • Inshore
  • Onshore

          System Type

  • Cable Floating Solution
  • Anchoring System

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Solar Pontoon Boat Industry - Regional Synopsis

APAC Market Analysis

The solar pontoon boat market in the Asia Pacific region is set to hold the largest market share of 33% during the time period between 2024 – 2036. Land scarcity and high land costs in densely populated Asia countries push towards alternative installation options. In Asia and the Pacific as a whole, land degradation affects about 850 million hectares. This represents roughly 28 per cent of the area under cultivation. Solar pontoon boat utilize readily available water bodies, alleviating land use pressures. Furthermore, dual benefits are observed with solar pontoons such as clean energy generation and enhanced water quality. Their shade reduces water evaporation and algae growth contributing to healthier water ecosystems. Various Asian governments incentivize renewable energy deployment through feed-in tariffs, subsidies, and tax breaks. These policies, coupled with failing solar panel costs, make solar pontoons more attractive financially.

North American Market Statistics

The North America solar pontoon boat market is anticipated to hold substantial growth during the forecast period. Businesses and consumers are increasingly seeking sustainable solutions and solar pontoons offer a clean and renewable energy source for various applications. Furthermore, government standards and corporate sustainability initiatives are driving the demand for renewable energy solutions. Additionally, technological advancements have made solar panels more efficient and affordable leading to attractive payback periods for solar pontoon boat investments.

Research Nester
Solar Pontoon Boat Market size
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Companies Dominating the Solar Pontoon Boat Landscape

top-features-companies
    • SUNGROW
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Vision Marine Technologies
    • Mibet Energy
    • SCG Chemicals Co., Ltd.
    • Zhongshan Jintin Plastic & Hardware Products Co., Ltd.
    • Vari Pontoons Pvt. Ltd.
    • Zhejiang Hisea Plastic Co.,Ltd
    • Adtech Systems, Vikram Solar
    • REC Solar Holdings AS
    • BASF SE

In-the-news

In The News

  • BASF has installed an innovative proof of concept floating solar system at the McIntosh, Alabama manufacturing plant as part of a sustainability target to achieve net zero CO2 emissions1 by 2050. In order to power three aerators that improve water quality in the pond at the production site, Noria Energy has set up one of the world's most unusual Floating Solar Systems using Renewable Energy.
  • Vision Marine Technologies, a global leader and innovator in the high-performance electric recreational boating industry,  officially joins the Clean Ocean Movement and launches its "Buy One Pull One" campaign to save thousands of pounds of plastic. They have announced a partnership with 4ocean remove from waterways and oceans.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5514
  • Published Date: Jan 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing demand for renewable energy and growing technological advancement are some of the major factors anticipated to drive the growth of the solar pontoon boat market.

The market is anticipated to attain a CAGR of ~15% over the forecast period, i.e., 2024-2036.

The major players in the market are of Vari Pontoons Pvt. Ltd. Zhejiang Hisea Plastic Co.,Ltd, Adtech Systems, Vikram Solar, REC Solar Holdings AS, and others.

The plastic segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in Asia Pacific is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Solar Pontoon Boat Market Report Scope
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