Key Findings
The North America floating power plant market is estimated to grow with an 11.22% CAGR between the forecasted years 2023 and 2028. Market growth is set to surge by government initiatives promoting solar energy, carbon emission targets, increasing utility-scale solar projects, and significant public and private sector investments in solar energy.

Market Insights
The North America floating power plant market growth evaluation includes an analysis of the United States and Canada. A spokesperson for Natural Resources Canada highlighted the country’s considerable potential for floating solar power, attributing it to Canada’s vast size and numerous water bodies. However, the technology remains largely undeveloped in Canada, with no floating solar projects currently funded by Natural Resources Canada.
The agency cites three primary reasons, which include the high cost of floating solar compared to ground-mounted solar, limited sunlight hours at northern latitudes, and concerns regarding ice coverage in northern hydropower reservoirs, often the preferred sites for such technology. Natural Resources Canada acknowledges that many of its hydropower plants feature reservoirs and indicates that federal funding is available through the Smart Renewables and Electrification Pathways Program for future projects that fulfill its criteria.

Competitive Insights
Major market players include General Electric, Caterpillar Inc, etc.
Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation caters to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments