A floating power plant is a power generating unit mounted on power barges, powerships or floating structure that are installed over a water body to generate electricity. These floating power plants mainly utilizes renewable energy resources such as solar energy, wind energy and wave energy or conventional resources such as, coal, diesel, heavy fuel oils, natural gas and nuclear energy for the production of electricity.
The global floating power plant market is expected to grow at a CAGR of 10.36%. Advantageous over conventional land-based power plants, lack of infrastructure in remote locations, and growing demand for clean energy are some of the other factors which contribute to the growth of the global floating power plants market.
Floating power plant market is driven by its benefits over conventional power plants, as they have minimal environmental impact, while minimizing limitations affected by environmental regulations. Thus, they reduce the use of land for construction of power plants, supply electricity for specific facilities economically, and can be used as an emergency power source. These factors, majorly, are contributing to the growth of floating power plant market in near future.
Floating power plant market by power plant type was dominated by floating solar power. A floating solar power plant is the best the option to overcome these problems. Electricity crisis are major is many developing nations, also the public opposition over the large scale land acquisition done by the governing authority to install a solar power plant is a major restraint, thus installing a floating solar power plant on a water body is the best in case scenario in today’s world. Floating solar power plant has great scope in Asia-Pacific region due to growing scarcity of land mass and growing demand for power supply.
Study Objectives of Global Floating Power Plant Market
- To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Floating Power Plant Market
- To provide insights about factors affecting the market growth
- To Analyze the Floating Power Plant market based on various factors- price analysis, supply chain analysis, Porters five force analysis.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to six main geographies and their countries-Europe, Asia-Pacific, Rest of the World
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segments: power plant type, and platform type as well as its sub segments
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as partnerships and collaborations, product launch, mergers and acquisitions, and expansions in the Global Floating Power Plant Market
- Distributer & Supplier companies
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
- The key findings of the report “Global Floating Power Plant Market” includes:
- Increasing installations of solar technology worldwide, and awareness of clean energy generation in remote areas is driving the market of floating solar power plant.
- Geographically, Asia-Pacific dominates the Floating Power Plant Market
- Floating structures dominate the market by platform type in terms of market share.
Global Floating Power Plant Market Share:
Some of the key players in the Global Floating Power Plant Market are MAN Diesel & Turbo, Karadeniz Holding A.?., Vikram Solar Pvt. Ltd., Ciel & Terre International, Waller Marine, Inc., Power Barge Corporation, Floating Power Plant A/S, PRINCIPLE POWER, INC., W?rtsil?, Kyocera TCL Solar, and ROSATOM. The companies in this market have adopted various strategies such as partnerships and collaborations, product launch, mergers and acquisitions, and expansions to append their market share.
The floating power plant market can be segmented on the basis of power plant type as floating solar power, floating wind power, floating wind & wave power, floating nuclear power, and others. On the basis of platform type, the market has been segmented as floating structures, power barges, and power ships.
Regional Analysis of Floating Power Plant Market
Asia-Pacific is one of the leading markets mainly due to owing to increase in utilization of renewable energy resources and scarcity of land in the region. in Europe, the recent development in renewable energy resources, basically in floating solar, floating wind and floating wind & wave power plant market is driving the market in the region.