The Global Floating Power Plant Market was valued at USD 809.65 million in 2016 and is projected to reach USD 1942.20 million by 2025, growing at a CAGR of 10.21% from 2017 to 2025.
Floating power plant plays a crucial role in electricity generation at remote areas where power generation is restricted due to scarcity of land mass and can be used as an emergency electric power source. There are several benefits of Floating power plant such as – provides fast supply of electricity to areas with limited infrastructure, possible to relocate or trade, does not require a large site, independent of soil quality, provides secure power supply in the event of earth quakes or floods.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 R&D in floating power plants
1.2 Growing development in floating wind farms
1.3 Better that land based power plants
1.4 Rising need for power, coupled with the lack of power infrastructure
1.5 Growing need for clean energy to drive renewable floating power plant market
2. Market Restraints
2.1 High distributed energy generation affecting the non-renewable generation
2.2 Rising cost related with transportation, logistics, & accessibility issues
The Global Floating Power Plant Market is segmented on the capacity, power source, platform type, and region.
1.1 1 MW-5 MW
1.2 5.1 MW-20 MW
1.3 20.1 MW-100 MW
1.4 100.1 MW-250 MW
1.5 Above 250 MW
2. By Power Source:
3. By Platform Type:
3.1 Floating Structure
3.2 Power Barges
3.3 Power Ships
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Siemens AG
2. Kyocera Corporation
3. Caterpillar Inc.
4. Ciel & Terre International
5. Principle Power, Inc.
6. Ideol SA
7. Upsolar Global Co., Ltd
8. Floating Power Plant A/S
9. General Electric Company
10. WÃ¤rtsilÃ¤ Corporation
11. Mitsubishi Corporation
12. Yingli Green Energy Holding Company Limited
13. Vikram Solar Pvt. Ltd.
14. MAN Diesel & Turbo SE
15. Seatwirl AB
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Floating Power Plant Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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