Floating Power Plant Market Overview:- —
The floating power plant market has huge potential as a floating offshore wind farm can potentially reduce the cost of installation significantly because of the use of the same techniques as the oil and gas industry, and it is also less invasive in terms of the seabed.
The Floating Power Plant Market will experience explosive growth in the next five to six years, states the leading market research firm – Market Research Future (MRFR) in its recently published study report. MRFR also foretells that the global floating power plant market will register a striking CAGR over 10 % during the anticipated period (2017 – 2023).
Floating power plant can reliably provide the constant supply of electricity, does not require a large site and compatibility with the soil is a mobile asset that can be relocated or trade and most importantly provide secure power supply in the event of earthquakes or floods.
Additional factors substantiating the market growth include the need for uninterrupted electricity supply which is growing with the rising world population, increasing per capita income coupled with the growing urbanization and industrialization.
Global Floating Power Plant Market - Competitive Landscape
The market looks highly competitive owing to the presence of a number of well-established and small players forming a competitive edge. The matured market players incorporate acquisition, collaboration, partnership, expansion, and technology launch.
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Industry Top Key Players:-
The fervent players leading the global floating power plant market include Karadeniz Holding A.Ş.(Turkey), MAN Diesel & Turbo (Germany), Ciel & Terre International (France), Vikram Solar Pvt. Ltd. (India), Waller Marine, Inc. (US), Floating Power Plant A/S (Denmark), Power Barge Corporation (US), Principle Power, Inc. (US), Kyocera TCL Solar (Japan), ROSATOM State Atomic Energy Corporation (Russia) and Wartsilä (Finland).
Industry/ Innovation/ Related News:-
April 30, 2018 – Russia launched its first floating nuclear project - the Academik Lomonosov, the two-reactor 70-megawatt floating power plant. Owned by the state-run nuclear energy corporation Rosatom and claimed as the world’s first ever floating nuclear power plant had cost USD 232 Mn.
August 17, 2018 – Japan Asia Investment Co Ltd announced the completion of its 2.4-MW floating solar system. The photovoltaic (PV) array that was installed at a total cost of USD 7.8 Mn. has an estimated annual output of a little over 3 million kWh, enough to meet the annual consumption of some 680 local homes.
Floating Power Plant Global Market - Segmentation
The MRFR analysis is segmented into three key dynamics;
By Types : Comprises - Floating Solar Power, Floating Wind, Wave power, Floating Nuclear power and others (Coal, Diesel, Heavy Fuel Oils, and Natural Gas).
By Platform Types : Floating Structures, Power Barges, and Power Ships.
By Regions : North America, Europe, APAC, and the Rest-of-the World.
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Global Floating Power Plant Market - Geographical Analysis
Globally, the Rest-of-the-World (RoW) is projected to dominate the market during the forecast period. Factors substantiating the market growth in the region include the augmenting demand for power due to the increasing population and industrialization along with the presence of the developing economies with major scarcity for land and increased commitment towards deploying renewable energy resources.
Furthermore, a remarkable growth is expected in the regions such as the Middle East and Africa, and North America owing to their rapidly increasing power generation capacity. Simultaneously, the technological advancements and favorable geographical locations & the coastal lines in these regions, are fostering the growth of the floating power plants market in these regions.
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