Power industry is one of the major revenue generating industries which has pushed the market for innovative and eco-friendly energy generation activities, where, floating power plant market is one of them. In other words, the growth in the power industry will create a positive impact on the market for global floating power plant. This market is majorly influenced by the growing demand for clean energy. Energy efficiency mandates for emitting zero or no carbon emissions and demand for clean energy are driving the growth of floating power plant market. With rising installations of floating solar and wind technologies, renewable energy sources are becoming key components to drive clean energy generation. Floating power plant market is driven by its benefits over conventional power plants, as they have minimal environmental impact, while minimizing limitations affected by environmental regulations.
In many countries, certain regions are not connected with their national distribution grid and off grid power is their only source of energy. In addition to that, growing concern about climate change and global warming are increasingly forcing nations to switch to renewable energy sources to meet their respective climate change targets. As per the study conducted by Market Research Future, the global market for floating power plant is likely to grow at the CAGR of around 10.35%.
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Industry Top Key Players:-
- MAN Diesel & Turbo
- Karadeniz Holding A.Ş.
- Ciel & Terre International
- Waller Marine, Inc.
- Power Barge Corporation
- Floating Power Plant A/S
- Principle Power
- Inc.Scope of the Report
Floating Power Plant Market – Segmentation
The scope of global floating power plant market is segmented into two major segments which are explained below:
By Power Plant Type
- Floating Solar Power
- Floating Wind Power
- Floating Wind & Wave Power
- Floating Nuclear Power
By Platform Type
- Floating Structures
- Power Barges
- Power Ships
In July, 2017 – Karpowership, the world’s only company that operates a whole fleet of Powerships, continues to work with engines from MAN Diesel & Turbo for their Powerships.
In July, 2017 – The technology group, Wärtsilä, announced that it has closed the acquisition of Greensmith Energy Management Systems Inc., a market leader in grid-scale energy storage software and integrated solutions.
In July, 2016 – MAN Diesel & Turbo and Karpowership renewed their ongoing partnership to develop Powerships with the utilization of MAN Diesel & Turbo. 18V 51/60 engines.
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Market Research Regional Analysis:-
Floating Structures are Expected to Grow at the Fastest Rate:
Geographically, the global floating power plant market has been divided into Europe, Asia Pacific and Rest of the World. Among these regions, Rest of the World is projected to dominate the market during the forecast period. The major factors driving the growth of the market here are the increasing demand for energy from growing population, developing economies with major paucity for land and increased commitment towards deploying renewable energy resources. Moreover, substantial growth is expected in regions such as, North America, Middle East and Africa, as these region are rapidly increasing their power generation capacity. Technological advancements and favourable geographic areas & coast lines in these region, are further driving the market for floating power plants in the region.
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