Market Scenario
The global Floating Power Plant Market is predicted to demonstrate 10.35% CAGR during the forecast period (2017-2023) owing to the shortage of electricity, asserts Market Research Future (MRFR). Floating power plants can be referred to as the integration of marine technology with power generation and provide benefits such as de-centralized and flexible power generation. Such power plants can run both on single cycle mode as well as combined cycle mode. To develop floating power plants, the design of the traditional land-based generating technologies is applied on to the marine environment. These Floating Power Plant Market are generally based on tested components and system solutions and are constructed swiftly in a controlled industrial setting.
Industry Updates
NTPC, Indian state-run utility, has recently issued a tender for 20MW of floating solar PV at Rajasthan. The tender comprises engineering, design, supply, manufacturing, transportation, packing and forwarding, storage, unloading, commissioning and installation of the grid-connected solar system.
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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Competitive Dashboard
The prominent players operating the global floating power plant market are
- Ciel & Terre International (France)
- ROSATOM State Atomic Energy Corporation (Russia)
- Kyocera TCL Solar (Japan)
- Floating Power Plant A/S (Denmark)
- Wartsilä (Finland)
- MAN Diesel & Turbo (Germany)
- Waller Marine Inc. (U.S.)
- Power Barge Corporation (U.S.)
- Karadeniz Holding A.Ş. (Turkey)
- Vikram Solar Pvt. Ltd. (India)
- Principle Power Inc. (U.S.)
Global Floating Power Plant Market: Segmental Analysis
The global Floating Power Plant Market has been segmented on the basis of power plant type and by platform type.
By Power Plant Type : Floating Solar Power, Floating Wind Power, Floating Wind and wave power, Floating Nuclear Power, Others (Coal, Diesel, Oil and Natural Gas)
By Platform Type : Floating structures, Power barges, Power ships
By Regions : Asia Pacific, Europe, Rest of the World
Drivers and Constraints Impacting the Market
With the augmenting need for uninterrupted electricity supply due to accelerating global population, rapid industrialization, and increasing income level, the global floating power plant market is considered to flourish during the anticipated period. As a large area of land is required for constructing wind, coal, and solar power plants, which might be a problem in several countries, the market for floating power plant is presumed to expand. Floating power plants are capable of meeting the rising demand for power in less time compared to land-based power plants, thereby triggering its demand globally.
Floating power plants are considered a replica of the land-based traditional gas turbine power generation concept. Such structures are supported by the barge structures which are designed to permit the flow of forces in the barges hull; thereby not overstressing the components. The hull girder further offers thermal gradients and differential weight distribution, thereby reducing the chance of mechanical damage. Such power plants can also economically supply electricity to a district that uses electricity from a land-based source and can also reduce the limitations caused by environmental regulations. Moreover, floating power plant systems can be relocated to any location where power is required. This enables electricity to be cheaper, which further results in its strong growth.
On the flip side, the high capital cost associated with the implementation of floating power plant coupled with the high level of complexity involved to design such systems are some of the major concerns considered to pose a threat to the market growth in the coming years.
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TABLE OF CONTENTS
1 Executive Summary
2 Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Assumptions
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.1 Drivers
4.2 Growth Drivers: Impact Analysis
4.3 Restraints
4.4 Growth Barriers: Impact Analysis
4.5 Opportunity
5 Market Factor Analysis
5.1 Porter’s 5 forces analysis
5.2 Value Chain Analysis
Continue ………
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