Floating power plant Market Size, Growth, Trends and Foresight to 2023

Market Highlights

A floating power plant is a revolutionary step in enabling power to remote areas by overcoming the perennial problem of land availability. The growth of floating power plant market is due to various factors such as the rising demand for power because of growing population, no need for acquisition of large land areas, increased government initiatives, and technological advancements and increasing investment by major players into the installation and development of floating solar panels. The usage of floating power plants is found to improve the efficiencies of renewable energy systems such of solar and wind. Moreover the rising demand for power and clean energy, will boost the growth of remote areas, thereby directly propelling the demand for floating power plants. However, the high cost of installation & maintenance and the lack of global service providers in the floating power plant market is expected to hinder the growth of the market.

The Global Floating Power Plant Market is expected to grow at CAGR of around 10.35% during the forecast period.

Key Players:

The key players of Global Floating Power Plant Market are

  • MAN Diesel & Turbo (Germany),
  • Karadeniz Holding A.Ş.( Turkey),
  • Vikram Solar Pvt. Ltd. (India),
  • Ciel & Terre International (France),
  • Waller Marine, Inc.(U.S.),
  • Power Barge Corporation (U.S.),
  • Floating Power Plant A/S (Denmark),
  • Principle Power, Inc.(U.S.),
  • Wartsilä (Finland),
  • Kyocera TCL Solar (Japan )
  • ROSATOM State Atomic Energy Corporation (Russia).

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 Market Research Analysis

Based on regions, Rest of the World is projected to dominate the market during the forecast period. The major factors driving the growth of the market here are the increasing demand for energy from growing population, developing economies with major scarcity for land and increased commitment towards deploying renewable energy resources. Moreover, substantial growth is expected in regions such as, North America, Middle East and Africa, as these region are rapidly increasing their power generation capacity. Technological advancements and favorable geographic areas & coast lines in these region, are further driving the market for floating power plants in the region.

Market Research Analysis

Floating Structures are expected to grow at the fastest rate

Based on the power plant platform type, the floating structures market is expected to grow the fastest during the forecast period. The rapid development in solar panel technology, wind technology and wind & wave technology coupled with government incentives for renewable energy power is expected to drive this segment. A major advantage of the floating structure is the compact design and high strength, which helps them withstand in various water levels in all conditions. Floating Structures accounted for the largest market share of 67.14% in 2016 and is projected to grow at the highest rate during the forecast period.

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Table of Content

1  Executive Summary

2  Introduction

2.1 Definition 12
2.2 Scope Of The Study 12
2.3 Assumptions 12
2.4 Market Structure 13

3  Research Methodology

3.1 Research Process 14
3.2 Primary Research 15
3.3 Secondary Research 15
3.4 Market Size Estimation 15
3.5 Forecast Model 17

 4  Market Dynamics

4.1 Drivers 19
4.1.1 Advantageous Over Conventional Land-Based Power Plants 19
4.1.2 Lack Of Power Infrastructure In Remote Locations 19
4.1.3 Growing Demand For Clean Energy 19
4.2 Growth Drivers: Impact Analysis 20
4.3 Restraints 20
4.3.1 High Capital Cost Of Offshore Power Infrastructure 20
4.3.2 Access To Offshore Installations 20
4.4 Growth Barriers: Impact Analysis 21
4.5 Opportunity 22
4.5.1 R&D In Floating Power Plants 22


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