Global Floating Power Plant Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Floating power plant plays a key role in the electricity generation in the remote areas. Lack of access and the shortage of electricity are the major hurdles faced by the many developing countries. Growing concern about climate change and increasing global warming are forcing economies to switch to renewable energy sources to meet the respective climate change targets. The conceptual design of the traditional land based generating technologies are applied to the marine environment to develop the floating power plants.

Global Floating Power Plant Market Size & Growth:

The global floating power plant market was valued at $XX billion in 2017 and expected to reach $XX billion by 2025 with a CAGR of XX% during the forecast period from 2019-2025. The factors like increase in demand for power and lack of power infrastructure, demand for clean energy and benefits over the land based power projects, minimizing the limitations caused by the environmental regulations, supplied with dual cooling alternatives such as roof-top radiators and seawater and mobile, versatile and adaptable which put low risk on the operation are driving the market growth. The factors like flexibility along the vertical axis, rotational movement is not possible, and high cost associated with logistics and transportation are declining the market growth. Developments in the floating wind farms and R&D in floating power projects are profiting the market growth. Growth in the distributed energy generation affecting the non-renewable generation is the factor challenging the market growth.

Global Floating Power Plant Market Share:                                                                              

Global Floating Power Plant market is classified by types such as by power source, by platform, by capacity and by geography. By power source, the market is segmented into a renewable power source and non-renewable power source. Non-renewable segment holds the largest share is owing to the lack of power infrastructure and an upsurge in the energy demand. The renewable segment is the fastest growing segment owing to demand clean energy coupled with the increasing demand for energy efficiency. By the platform, the market is divided into power barges, power ships and floating structures. Floating structures and power ships are promising markets during the forecast period. By capacity, the market is segmented into 0MW-5MW, 5.1 MW-20MW, 20.1MW-100MW, 100.1MW-250MW and above 250MW. Above 250 MW segment is dominating the market growth owing to the facts like a maximum number of floating plants generate this amount of power. In regard of geography, the market is classified into North America, South America, Europe, APAC and the Middle East & Africa region. APAC is expected to hold the predominant share is owing to rise in the floating power plants in the countries of Japan and China and non-renewable floating plants in countries like Indonesia, Myanmar and others. North America and Middle East & Africa are the promising markets during the forecast period.

Global Floating Power Plant Market Trends:

• The Siemens start up SeaFloat has developed the concepts for floating combined cycle power plants.
• Mitsubishi Corporation acquired 25% interest in Summit LNG Terminal Co (Pvt) Limited to develop a Liquefied Natural Gas (LNG) receiving terminal that uses a Floating Storage and Regasification Unit (FSRU) in Bangladesh.

Global Floating Power Plant Market Research Report:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have complete market analysis through industry value chain analysis, porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
• Regional and global diversity is analysed with the major countries and the unions. Scrutinising the revenue generation on Year-On-Year
• Identifying DROCin the current market and their impact in altering the market dynamics.
• Competitive landscape analysis toidentify the merger and acquisition which will have a comparative financial analysis with major competitors.
• Expertise investment opportunitiesby an analyst to the individual and organisation to have a better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the major market players, such as
  • General Electric Company
  • Floating Power Plant A/S
  • Principle Power, Inc.
  • Yingli Green Energy Holding Company Limited
  • MAN Diesel & Turbo SE

Along with these companies, there were many other companies are considered in the report while analysing the global floating Power Plant market. These companies hold substantial share-owing to the nature of the industry whereas rests of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.