Floating Power Plant Market – Overview
Increased demand for power and alternative power sources has led to the expansion and development of the Floating Power Plants Industry. Market reports linked to the energy & power sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The industry in the forecast period is projected to demonstrate a 10.35 percent CAGR which will reinforce the growth trajectory of the market.
The market’s growth is fuelled by its benefits such as its lack of dependence on land resources for its functionality. As land is already scarce due to construction and other energy generation products among other uses, the ability of floating power plants to utilize the water bodies which are larger as compared to land masses is working in favor for the progress of the market.
The industry for the Floating Power Plant Industry has been segmented into the segments of platform type, power plant type and regions. On the basis of power plant type the segment comprises of floating nuclear power, floating wind power, floating wind and wave power, floating solar power and others such as diesel, coal, oil and natural gas. The platform type segment includes power barges, floating structures and power ships. The regions included in the Floating Power Plant Market are Asia Pacific, Europe and rest of the world.
Mar 2018 Kyocera TCL Solar has initiated the operations on Japan’s biggest 13.7MW floating solar plant which is located on the Yamakura Dam reservoir in Ichihara, Chiba Prefecture. Kyocera TCL Solar which is a joint venture (JV) of Kyocera and Tokyo Century to uphold large-scale solar projects. The solar plant which was built over the surface of the reservoir, is managed by the waterworks bureau of Chiba Prefecture for their industrial use. With a surface area of 180,000m², 50,904 270W Kyocera solar modules were installed to make a projected amount of 16,170MWh a year, which is sufficient enough to power nearly 5,000 households. The power generated from the plant will be sold to TEPCO Energy Partner according to reports.
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Detailed Regional Analysis
According to the regional analysis for the industry, the Rest of the World market is expected to control the industry for the duration of the forecast period. The key factors fuelling the development of the industry in this region is the growing demand for energy from rising population, emerging economies with a huge scarcity for land and increased commitment towards using renewable energy resources. Furthermore, considerable growth is estimated in regions such as Middle East and Africa and North America as these regions are increasing their power generation capacity at an accelerated pace. Advantageous geographic areas & coast lines along with technological advancements in these region, are additionally driving the industry for Floating Power Plants in these regions.
Global Competitive Analysis
Contenders who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario. With the ability to sustain their competitive edge being one of the primary factors driving their efforts, the scope for growth in the industry appears to be promising through the forecast period. The rising affinity for diversification in the market, has indirectly enabled the players to utilize the many prospects available. This specific trend has enabled portfolio improvements along with the affinity for diversification in the sector, which has helped the market competitors tremendously in this industry. The companies in this particular industry are also trying to maintain and enhance financial liquidity that can be instrumental to invest in growth strategies as and when they become available.
Principle Power, Inc.(U.S.), Floating Power Plant A/S (Denmark), Karadeniz Holding A.Ş.( Turkey), Ciel & Terre International (France), Vikram Solar Pvt. Ltd. (India), Waller Marine, Inc.(U.S.), Power Barge Corporation (U.S.), MAN Diesel & Turbo (Germany) and Wartsilä (Finland) are a few of the key players of Global Floating Power Plant Industry,
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