Floating Power Plant Market : Rising Power Consumption Boading Well For Market Expansion

Floating Power Plant Market Overview

According to a recent survey conducted by ChemView Consulting, the Global Carbonate Minerals Market grew at a CAGR of 8.2 % between 2017-2021 and is estimated to be US$ 1,374.6 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 10.1% and is expected to reach a valuation of US$ 3,597.9 Mn by 2032 end.

Future years are expected to see a rise in the sales of floating power plants due to rising energy efficiency standards and rising power consumption.

ChemView Consulting has analyzed that the Rapidly falling cost of renewable energy technologies, increasing adoption of these technologies in developing regions, and decreasing prices are major drivers for the development of the global floating power plant market during the estimated period. Over the next decade, it is anticipated that the world will undergo a transition in every aspect of energy systems, with the renewable energy sector responsible for a huge share of the total demand for power.

Offshore wind farms feature higher rotating speeds and a small increase in wind speed results in an enormous increase in energy production. Leading renewable energy markets such as the U.S. and India are embraced of larger coastal lines, predictable to witness substantial growth for the floating power plants market during the forthcoming year.

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Segments Covered in Report

By Source:

  • Non-renewable
  • Gas Turbines
  • IC Engines
  • Renewable
  • Solar
  • Wind

By Capacity:

  • Below 5.0 MW
  • 0 MW–20 MW
  • 0 MW–100 MW
  • 0 MW–250 MW
  • Above 250 MW

By Type:

  • Ships
  • Barges
  • Others (Platforms. Etc.)

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways from the Floating Power Plant Market

  • Based on the Source, The Non-renewable Floating Power Plant foundation is expected to register the highest revenue share of 55.0% in the Global Non-renewable Floating Power Plant market between 2021 and 2032. Due to their ability to reduce exposed surface area to the water, floating wind turbines with semi-submersible foundations are a superior alternative to other varieties.
  • Based on the Capacity, In 2021, The medium-power segment was expected to register the highest CAGR between January 2020 and 2021. With a capacity of up to 100 MW, the medium-power segment is projected to register the fastest CAGR over the forecast period. This is because renewable energy-based FPP projects are growing rapidly.
  • Based on Region, the Asia Pacific market held a sizeable revenue share of 43.6%. In emerging economies, rapid population development has raised the need for electricity. Over the next seven years, Floating Power Plants will increase flexibility and reduce power disruptions by installing Floating Power Plant devices.

Competition Summary

Key companies covered in the market study are Siemens Games Renewable Energy S.A, MingYang Smart Energy, MHI Vestas Offshore Wind A/s, Senvion S.A., Nordex SE, GE Renewable Energy, Envision Energy, Goldwind, Enercon GmbH, Adwen GmbH.

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Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.

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