Globally, the need for uninterrupted electricity supply is growing because of the rising world population, climbing income levels and industrialization. Enabling the remote regions, with power by constructing new power generation facilities is very difficult as it involves high capital cost and several environmental concerns. Also, huge land area is necessary for the construction of coal, wind and solar power plants which has constraints in many countries. Floating power plants can help overcome this challenge and can provide power continuously with the ability to be relocated. 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.
Global Competitive Analysis
The vital trends and players have established a positive tone for development. The opportunities for growth and innovation have increased at a rapid pace transforming the landscape of the market. Engaging and converting prospective opportunities is modifying the growth pace of the market considerably. The competitors in the market have been spurred to devise strategic road-maps that capitalize on the positive market cues. The momentum of the market’s growth has altered the competitive background of the market. By ensuring supply and demand are in balance the competitors can unlock new opportunities for growth. The key players and trends have created a positive tone for development.
The noteworthy competitors in the Floating Power Plant Market globally are
· Karadeniz Holding A.Ş. (Turkey)
· MAN Diesel & Turbo (Germany)
· Ciel& Terre International (France)
· Power Barge Corporation (U.S.)
· Waller Marine, Inc. (U.S.)
· Kyocera TCL Solar (Japan )
· Floating Power Plant A/S (Denmark)
· Principle Power, Inc.(U.S.)
· Vikram Solar Pvt. Ltd. (India)
· Wartsilä (Finland)
· ROSATOM State Atomic Energy Corporation (Russia)
Currently, market for floating power plants is growing, especially by the renewable energy source types such as solar, wind and wave power. One of the advantages of these floating power plant systems is their ability to be relocated to any location where there is a demand for power. This will also enable electricity to be cheaper, which will result in its strong growth. Floating power plants are a safe and efficient power source for remote islands and they are less susceptible to natural disasters.
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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.
Global Floating Power Plant Market – Segmentation
The MRFR analysis is segmented into three key dynamics;
· Floating Solar Power
· Floating Wind
· Wave power
· Floating Nuclear power
· Others (Coal, Diesel, Heavy Fuel Oils, and Natural Gas)
By Platform Types
· Floating Structures
· Power Barges
· Power Ships
· North America
· Rest of the World
Industry/ Innovation/ Related News:-
April 30, 2018 – Russia launched its first floating nuclear project – the Academik Lomonosov, the two-reactor 70-megawatt floating power plant. Owned by the state-run nuclear energy corporation Rosatom and claimed as the world’s first ever floating nuclear power plant had cost USD 232 Mn.
August 17, 2018 – Japan Asia Investment Co Ltd announced the completion of its 2.4-MW floating solar system. The photovoltaic (PV) array that was installed at a total cost of USD 7.8 Mn. has an estimated annual output of a little over 3 million kWh, enough to meet the annual consumption of some 680 local homes.
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Floating Power Plant Market Table of Content
1. Executive Summary
3. Research Methodology
4. Market Dynamics
5. Market Factor Analysis
To be Continue………..,