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For this study, the global Floating Power Plant Market is segmented by Power Source (Renewable and Non-Renewable), Capacity (0-50 MW, 6-20 MW, 21-100 MW, 101-250 MW, above 250 MW), And Region (North America, Europe, Asia-Pacific and Rest of World) - Global Forecast to 2023.Floating Power Plant Key Players Analyzed in Report:
Floating Power Plant A/S, Upsolar Global Co., Ltd, Seatwirl AB, Ideol SA, MAN Diesel & Turbo SE, Principle Power Inc., Vikram Solar Pvt. Ltd., Ciel & Terre International, Yingli Green Energy Holding Company Limited, Caterpillar Inc., Mitsubishi Corporation, Kyocera Corporation, Wärtsilä Corporation, Siemens AG, and General Electric Company.
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Global Floating Power Plant Market Overview:
Increasing Clean Energy Demands to Drive Floating Power Plant Market. Renewable Floating Power Plants to Showcase Fastest Growth During Assessment Period. A floating power plant has a power generation capacity that is made from an existing cargo ship. It is a special purpose ship on which a power plant can be installed to turn it into a power generation resource. Market Research Future (MRFR) has published a research report on the global floating power plant market that ciphers hike for this market at 10.35% CAGR (Compound Annual Growth Rate) between 2019 and 2023.
The most important factor assuring the global floating power plant market growth is a series of advantages offered by the floating power plant. These advantages include the fast supply of electricity to areas with limited infrastructure, easy relocation to areas where electricity is required, the requirement of lesser space compared to land-based power plants, and lastly, the availability of power supply during earthquakes and floods. In addition, factors such as rising standards of living, industrialization, emergence of smart devices, and penetration of digitalization in day-to-day life are driving the global floating power plant market.
Market Segments Analysis:
The latest report published by Market Research Future has been studied for various segments based on power source, capacity, and region. Based on power source, the floating power plant market has been segmented into renewable and non-renewable. The segment of renewable power source has been further segmented into solar and wind. The segment of non-renewable power source has been sub-segmented into gas turbines and IC engines.
Based on power source, the floating power plant market has been segmented into renewable and non-renewable. The segment of renewable power source has been further segmented into solar and wind. The segment of non-renewable power source has been sub-segmented into gas turbines and IC engines.
Renewable sources are the sources that can be naturally replenished on a human timescale. Some examples of these sources are rain, sunlight, tides, waves, wind, and geothermal heat. The renewable segment is likely to witness fastest growth during the forecast period owing to a rising climate change awareness, demand for higher energy efficiency, and a surge in the demand for utilization of clean energy resources.
Non-renewable sources of energy like coal and petroleum will not be replenished in our lifetimes once they get exhausted. The non-renewable segment is expected to hold a larger share of the floating power plant market. This occurrence is due to the lack of proper infrastructure, and significant focus on conventional and non-renewable energy sources by multiple economies.
The floating power plants market has been segmented, by capacity, into 1 MW to 5 MW, 6 MW to 20 MW, 21 MW to 100 MW, 101 MW to 250 MW, and above 250 MW. The capacity segment above 250MW is estimated to dominate the market during the assessment timeline. The segment of 21 MW to 100MW is expected to garner fastest growth rate due to an increase in the floating solar and wind projects.
Regional Overview:
The floating power plant market has been regionally segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). In 2017, Rest of the World held the largest market share due to increasing installations of floating power plants, especially in the Middle East. Many countries in the region have upcoming projects to be foreseen, leading to a substantial rise in the number of installations of floating power plants.
During the forecast period, Europe can be the fastest growing regional market due to highest offshore wind potential and countries like France, Germany, Italy, Portugal, and the UK focusing on energy generation from renewable sources. The remaining countries of Europe are also a sizable market in this region. Many important market players are based in Europe.
Asia Pacific region can witness substantial growth because the usage of renewable floating power plants is growing in countries like China and Japan. Another notable country-specific market in this region is India, followed by the remaining countries of the Asia Pacific region.
Table of Contents:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
Continued…
List of Tables:
TABLE 1 MARKET SYNOPSIS 11
TABLE 2 GLOBAL FLOATING POWER PLANT MARKET, BY POWER PLANT TYPE, 2015-2023 (USD MILLION) 29
TABLE 3 GLOBAL FLOATING POWER PLANT MARKET, BY PLATFORM TYPE, 2015-2023 (USD MILLION) 33
TABLE 4 ASIA-PACIFIC: GLOBAL FLOATING POWER PLANT MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 38
TABLE 5 ASIA-PACIFIC: GLOBAL FLOATING POWER PLANT MARKET, BY PLATFORM TYPE, 2015-2023 (USD MILLION) 38
TABLE 6 ASIA-PACIFIC: GLOBAL FLOATING POWER PLANT MARKET, BY POWER PLANT TYPE, 2015-2023 (USD MILLION) 39
TABLE 7 CHINA: GLOBAL FLOATING POWER PLANT MARKET, BY PLATFORM TYPE, 2015-2023 (USD MILLION) 40
TABLE 8 CHINA: GLOBAL FLOATING POWER PLANT MARKET, BY POWER PLANT TYPE, 2015-2023 (USD MILLION) 40
TABLE 9 JAPAN: GLOBAL FLOATING POWER PLANT MARKET, BY PLATFORM TYPE, 2015-2023 (USD MILLION) 41
TABLE 10 JAPAN: GLOBAL FLOATING POWER PLANT MARKET, BY POWER PLANT TYPE, 2015-2023 (USD MILLION) 42
TABLE 11 INDIA: GLOBAL FLOATING POWER PLANT MARKET, BY PLATFORM TYPE, 2015-2023 (USD MILLION) 42
TABLE 12 INDIA: GLOBAL FLOATING POWER PLANT MARKET, BY POWER PLANT TYPE, 2015-2023 (USD MILLION) 43
TABLE 13 REST OF ASIA-PACIFIC: GLOBAL FLOATING POWER PLANT MARKET, BY PLATFORM TYPE, 2015-2023 (USD MILLION) 43
Continued…
List of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR 14
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 16
FIGURE 3 FORECAST MODEL FOR FLOATING POWER PLANTS 17
FIGURE 4 DRIVERS, RESTRAINTS, AND OPPORTUNITIES OF GLOBAL FLOATING POWER PLANT MARKET 18
FIGURE 5 GROWTH DRIVERS: IMPACT ANALYSIS 20
FIGURE 6 GROWTH BARRIERS: IMPACT ANALYSIS 21
FIGURE 7 PORTER'S 5 FORCES ANALYSIS OF GLOBAL FLOATING POWER PLANT MARKET 23
Continued…
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