The growth of floating power plant market is due to various factors such as the rising demand for power because of growing population, no need for acquisition of large land areas, increased government initiatives, and technological advancements and increasing investment by major players into the installation and development of floating solar panels. The usage of floating power plants is found to improve the efficiencies of renewable energy systems such of solar and wind. Moreover the rising demand for power and clean energy, will boost the growth of remote areas, thereby directly propelling the demand for floating power plants. However, the high cost of installation & maintenance and the lack of global service providers in the floating power plant market is expected to hinder the growth of the market.
The floating power plant market is driven by various factors such as the need for uninterrupted electricity supply is growing because of the rising world population, climbing income levels and industrialization, huge land area is necessary for the construction of coal, wind and solar power plants which has constraints in many countries, these factors are expected to drive the market for floating power plant in near future. However, the high capital cost of floating power plant and the high level of complexity involved in the design of the systems, will act as restrains for the floating power plant market, globally.
Industry Top Key Players:-
The key players of global floating power plant market are MAN Diesel & Turbo (Germany), Karadeniz Holding A.Ş.( Turkey), Vikram Solar Pvt. Ltd. (India), Ciel & Terre International (France), Waller Marine, Inc.(U.S.), Power Barge Corporation (U.S.), Floating Power Plant A/S (Denmark), Principle Power, Inc.(U.S.), Wartsilä (Finland), Kyocera TCL Solar (Japan )and ROSATOM State Atomic Energy Corporation (Russia).
The key players adopted various strategies to retain and/or expand their market share. The key strategies followed by most companies within the global floating power plant market were partnerships & collaborations followed by the product launch.
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April 2018 The only floating nuclear power unit in the world currently (FPU) ‘Academik Lomonosov’ has departed from St. Petersburg, where its construction had been carried out since 2009 and is being lead to its base in Chukotka. The nuclear fuel will be filled into the reactor, and it will be substantially started-up in Murmansk this year in autumn. Its primary task is to provide the isolated port cities, industrial plants, aong with the offshore gas and oil platforms with electric energy. After starting the FNPP into operation, which is intended for 2019, it will swap the Bilibino nuclear power plant and Chaunskaya TPP which are technologically obsolete and will hence become the most northerly nuclear power plant in the world. The nuclear power plant can make up to 70 MW of electric energy and 50 Gcal/hr of heat energy with dual KLT-40S reactor units throughout its normal operation.
Major Points of TOC:-
1 Executive Summary
2.1 Definition 12
2.2 Scope Of The Study 12
2.3 Assumptions 12
2.4 Market Structure 13
3 Research Methodology
3.1 Research Process 14
3.2 Primary Research 15
3.3 Secondary Research 15
3.4 Market Size Estimation 15
3.5 Forecast Model 17
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Market Research Analysis:-
Floating Structures are Expected to Grow at the Fastest Rate:
Based on the power plant platform type, the floating structures market is expected to grow the fastest during the forecast period. The rapid development in solar panel technology, wind technology and wind & wave technology coupled with government incentives for renewable energy power is expected to drive this segment. A major advantage of the floating structure is the compact design and high strength, which helps them withstand in various water levels in all conditions. Floating Structures accounted for the largest market share of 67.14% in 2016 and is projected to grow at the highest rate during the forecast period.
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