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Global Floating Power Plant Market by Power Source (Renewable, Non-renewable), by Power Rating (Medium-power, Low-power, High-power) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: ME-73100
  • Author: Up Market Research
  • Rating: 5.0
  • Total Reviews: 64
  • No. Of Pages: 249
  • Format:
  • Pub. Date: 2021-10-21
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Summary of the Report

Global floating power plant market was worth USD 1.0 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 9.5%) between 2020 and 2027. The market is expected to grow due to the increasing demand for clean electricity from end-use segments and the dearth of infrastructure in many countries. Floating power stations (FPPs), which are a distributed source of power, offer high efficiency and stability. This peak power source can respond to high load fluctuations and is quick to start up. These plants can be towable and are suitable for periodic and seasonal operation. They provide grid stabilization for different types of HTML3_. These factors will have a positive impact on the industry landscape during the forecast period.

China's market is expected to experience significant growth due to the presence major FPP developers and the ever-increasing need for continuous power supply across all end-use markets. China is the world's largest producer of solar PV panels. The government has begun to deploy solar-powered FPPs to improve its energy structure and grid power service.

CECEP, a Chinese state corporation, and Ciel & Terre, a French company connected the floating 70 MWp photovoltaic plant in Anhui province to the national grid. This plant was constructed using LONGi Solar monocrystalline PV module and Ciel & Terre Hydrelio floats. Its purpose is to encourage the commercialization of floatovoltaic technologies.

The market is expected to grow due to increasing awareness about the benefits of FPPs such as the availability of fast electricity supply to areas with poor power infrastructure, the mobile asset that can be moved easily, the lack of the need for large sites, and the provision of power supply during natural catastrophes. FPP deployment is expected to increase in several regions due to strict government regulations regarding environment protection.

Floating power plants have a lower environmental impact than conventional land-based systems. They require very little land, and only a small amount of coastline or upriver land. The market is expected to grow due to the increasing use of renewable energy in FPPs as a source of power generation.

Power Source Insights

The non-renewable segment dominated the market in 2019, accounting for more that 50% of the total share. This was due to the high-power density and reliability of gas turbines, IC Engine-based FPPs, as well as the low operating costs. The segment's growth is expected to be boosted by leading manufacturers who are focusing on improving the power output of floating gas turbines.

Siemens, for example, produced the SGT8000H-class industrial gasturbines with a power output of 140 MW to support its FPP facilities. The company now offers seafloat turbines with large-scale gas turbines that can produce up to 1.2GW of power. The natural gas used to supply power plants further offshore comes from ships, not from land. Additional platforms are available near ships docked with technology to convert liquid fuel into gaseous.

Due to favorable environmental policies that support the use of clean fuels for power production, the renewable segment will grow at the highest rate of CAGR during the forecast period. The three most popular renewable sources of power generation for FPPs are solar, wind, or wave energy. A growing demand for renewable power plants is expected due to the scarcity of sites that can be used as wind farms and their large land areas.

Insights on Power Rating

In 2019, the market's top-selling segment was high-power, accounting for 66% of all sales. Due to the large-scale power demand in South Asian countries like China, India and Singapore, this segment will continue to hold its lead position for the forecast period. FPP market growth will be boosted by steady population growth and rapid infrastructure development in end-use sectors such as construction, healthcare, and manufacturing.

The medium-power segment, with a capacity of between 20.1 MW and 100 MW, is expected to see the fastest CAGR during the forecast period. This is due to the increasing number of FPP-based renewable energy projects. In January 2020, for example, the Electricity Generating Authority of Thailand and B.Grimm Power signed an EPC contract to build a hybrid hydro-solar energy FPP at the EGAT dam.

Project worth USD 27 millions will use 45 MW capacity, crystalline solar panels to produce power during the day. The remaining hydropower from Sirindhorn dam is also used. The floating HDPE platform made of plastic is eco-friendly and safe for aquatic animals. These initiatives will encourage participation from many manufacturers and lead to the signing of new projects to construct FPPs in the medium power spectrum.

Regional Insights

Asia Pacific accounts for 38% of the global revenue share in 2019, and will continue to grow at the fastest CAGR during the forecast period. This is due to the low availability of power infrastructure in developing countries and the rapid adoption of renewable energy sources for power generation such as India and China.

A growing number of FPPs based on renewable energy have attracted major market players to the region, thereby accelerating the market's growth over the next seven year. The industry's growth will be impeded by the higher maintenance and installation costs associated with these plants at sea.

Europe was the second largest regional market in 2019, thanks to the presence key players and market experts across the region. Siemens Gas and Power GmbH & Co. Wartsila and Floating Power Plant A/S and Ideol are just a few of the major industry players in Europe, which has facilitated the deployment of large-scale FPP project.

North America will also see a significant growth in the future due to strict regulatory reforms that focus on cleaner power generation. Canada and the United States are major revenue contributors because these countries have been focusing on developing cleaner fuel LNG-based power vessels, which in turn supports industry growth.

Market Share Insights & Key Companies

To reduce emissions, minimize logistics costs and create local jobs, industry participants are now focusing on local production. FPPs are flexible, adaptable, mobile, and versatile, so operators are less likely to face investment risk. Market players engage in several growth initiatives such as strategic partnerships to raise capital and offer their expertise in various segments of FPP supply chain. This helps minimize overall project costs. The market leader in floating power plants is:

  • Wartsila

  • Siemens Gas and Power GmbH & Co.

  • Kawasaki Heavy Industries, Ltd.

  • Floating Power Plant A/S

  • Ciel & Terre international

Up Market Research published a new report titled “Floating Power Plant Market research report which is segmented by Power Source (Renewable, Non-renewable), by Power Rating (Medium-power, Low-power, High-power), By Players/Companies Ciel & Terre international, Kawasaki Heavy Industries Ltd, Siemens Gas and Power GmbH & Co, Floating Power Plant A/S, Wartsila”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleFloating Power Plant Market Research Report
By Power SourceRenewable, Non-renewable
By Power RatingMedium-power, Low-power, High-power
By CompaniesCiel & Terre international, Kawasaki Heavy Industries Ltd, Siemens Gas and Power GmbH & Co, Floating Power Plant A/S, Wartsila
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages249
Number of Tables & Figures175
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Floating Power Plant Industry Outlook

Global Floating Power Plant Market Report Segments:

The market is segmented by Power Source (Renewable, Non-renewable), by Power Rating (Medium-power, Low-power, High-power).

Floating Power Plant Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Floating Power Plant Market

Overview of the regional outlook of the Floating Power Plant Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Floating Power Plant Market Overview

Highlights of The Floating Power Plant Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Floating Power Plant Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Power Source:

                1. Renewable

                2. Non-renewable

        7. By Power Rating:

                1. Medium-power

                2. Low-power

                3. High-power

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Floating Power Plant Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Floating Power Plant Market Trends

Reasons to Purchase the Floating Power Plant Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Floating Power Plant Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Floating Power Plant Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Floating Power Plant Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Floating Power Plant Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Floating Power Plant Market Size & Forecast, 2018-2028 
      4.5.1 Floating Power Plant Market Size and Y-o-Y Growth 
      4.5.2 Floating Power Plant Market Absolute $ Opportunity 


Chapter 5 Global Floating Power Plant Market Analysis and Forecast by Power Source
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Power Source
      5.1.2 Basis Point Share (BPS) Analysis by Power Source
      5.1.3 Absolute $ Opportunity Assessment by Power Source
   5.2 Floating Power Plant Market Size Forecast by Power Source
      5.2.1 Renewable
      5.2.2 Non-renewable
   5.3 Market Attractiveness Analysis by Power Source

Chapter 6 Global Floating Power Plant Market Analysis and Forecast by Power Rating
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Power Rating
      6.1.2 Basis Point Share (BPS) Analysis by Power Rating
      6.1.3 Absolute $ Opportunity Assessment by Power Rating
   6.2 Floating Power Plant Market Size Forecast by Power Rating
      6.2.1 Medium-power
      6.2.2 Low-power
      6.2.3 High-power
   6.3 Market Attractiveness Analysis by Power Rating

Chapter 7 Global Floating Power Plant Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Floating Power Plant Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Floating Power Plant Analysis and Forecast
   9.1 Introduction
   9.2 North America Floating Power Plant Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Floating Power Plant Market Size Forecast by Power Source
      9.6.1 Renewable
      9.6.2 Non-renewable
   9.7 Basis Point Share (BPS) Analysis by Power Source 
   9.8 Absolute $ Opportunity Assessment by Power Source 
   9.9 Market Attractiveness Analysis by Power Source
   9.10 North America Floating Power Plant Market Size Forecast by Power Rating
      9.10.1 Medium-power
      9.10.2 Low-power
      9.10.3 High-power
   9.11 Basis Point Share (BPS) Analysis by Power Rating 
   9.12 Absolute $ Opportunity Assessment by Power Rating 
   9.13 Market Attractiveness Analysis by Power Rating

Chapter 10 Europe Floating Power Plant Analysis and Forecast
   10.1 Introduction
   10.2 Europe Floating Power Plant Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Floating Power Plant Market Size Forecast by Power Source
      10.6.1 Renewable
      10.6.2 Non-renewable
   10.7 Basis Point Share (BPS) Analysis by Power Source 
   10.8 Absolute $ Opportunity Assessment by Power Source 
   10.9 Market Attractiveness Analysis by Power Source
   10.10 Europe Floating Power Plant Market Size Forecast by Power Rating
      10.10.1 Medium-power
      10.10.2 Low-power
      10.10.3 High-power
   10.11 Basis Point Share (BPS) Analysis by Power Rating 
   10.12 Absolute $ Opportunity Assessment by Power Rating 
   10.13 Market Attractiveness Analysis by Power Rating

Chapter 11 Asia Pacific Floating Power Plant Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Floating Power Plant Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Floating Power Plant Market Size Forecast by Power Source
      11.6.1 Renewable
      11.6.2 Non-renewable
   11.7 Basis Point Share (BPS) Analysis by Power Source 
   11.8 Absolute $ Opportunity Assessment by Power Source 
   11.9 Market Attractiveness Analysis by Power Source
   11.10 Asia Pacific Floating Power Plant Market Size Forecast by Power Rating
      11.10.1 Medium-power
      11.10.2 Low-power
      11.10.3 High-power
   11.11 Basis Point Share (BPS) Analysis by Power Rating 
   11.12 Absolute $ Opportunity Assessment by Power Rating 
   11.13 Market Attractiveness Analysis by Power Rating

Chapter 12 Latin America Floating Power Plant Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Floating Power Plant Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Floating Power Plant Market Size Forecast by Power Source
      12.6.1 Renewable
      12.6.2 Non-renewable
   12.7 Basis Point Share (BPS) Analysis by Power Source 
   12.8 Absolute $ Opportunity Assessment by Power Source 
   12.9 Market Attractiveness Analysis by Power Source
   12.10 Latin America Floating Power Plant Market Size Forecast by Power Rating
      12.10.1 Medium-power
      12.10.2 Low-power
      12.10.3 High-power
   12.11 Basis Point Share (BPS) Analysis by Power Rating 
   12.12 Absolute $ Opportunity Assessment by Power Rating 
   12.13 Market Attractiveness Analysis by Power Rating

Chapter 13 Middle East & Africa (MEA) Floating Power Plant Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Floating Power Plant Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Floating Power Plant Market Size Forecast by Power Source
      13.6.1 Renewable
      13.6.2 Non-renewable
   13.7 Basis Point Share (BPS) Analysis by Power Source 
   13.8 Absolute $ Opportunity Assessment by Power Source 
   13.9 Market Attractiveness Analysis by Power Source
   13.10 Middle East & Africa (MEA) Floating Power Plant Market Size Forecast by Power Rating
      13.10.1 Medium-power
      13.10.2 Low-power
      13.10.3 High-power
   13.11 Basis Point Share (BPS) Analysis by Power Rating 
   13.12 Absolute $ Opportunity Assessment by Power Rating 
   13.13 Market Attractiveness Analysis by Power Rating

Chapter 14 Competition Landscape 
   14.1 Floating Power Plant Market: Competitive Dashboard
   14.2 Global Floating Power Plant Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Ciel & Terre international
      14.3.2 Kawasaki Heavy Industries Ltd
      14.3.3 Siemens Gas and Power GmbH & Co
      14.3.4 Floating Power Plant A/S
      14.3.5 Wartsila
Segments Covered in the Report
The global Floating Power Plant market has been segmented based on

By Power Source
  • Renewable
  • Non-renewable
By Power Rating
  • Medium-power
  • Low-power
  • High-power
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Ciel & Terre international
  • Kawasaki Heavy Industries Ltd
  • Siemens Gas and Power GmbH & Co
  • Floating Power Plant A/S
  • Wartsila

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