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Floating Power Plant Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Feb 2021 | 63 Views
 
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A floating power plant is a power generator on an existing cargo ship. Floating power plants are self-driven and can go overseas and connect to the national grid, wherever required. Floating power plant can serve as a potential alternative for land-based power plants, as these kinds of power plants can cater to increasing power demand, especially in remote and rural areas. Moreover, it exhibits various advantages, such as fast supply of electricity to areas with limited infrastructure, requires lesser space as compared to land-based power plants, can be relocated to the areas where the electricity is needed, and provides secure power supply in case of earth quakes & floods.   

Market scope and structure analysis

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

  Type of Power Source, Capacity, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East & Africa

  Companies covered

Wartsila, General Electric Company, Siemens AG, Caterpillar, Inc., Ciel & Terre International, Floating Power Plant A/S, Ideol, Kyocera Corporation, Principle Power, Inc., Upsolar, Vikram Solar Pvt., Ltd., Yingli Solar, MAN Diesel & Turbo SE, and Mitsubishi Corporation

 

COVID-19 impact analysis

Many companies across different sectors globally have ceased and are looking to cut down costs to survive in the market, and the energy sector is no exception. COVID-19 is having an adverse impact on the renewable energy sector. One of the major problems relates to the delivery of equipment to power plants. China is one of the countries, which is severely affected by the coronavirus, as is the prominent producer of many clean energy technologies, such as solar panels, wind turbines, and batteries. Since coronavirus has delayed deliveries from China, renewable energy companies are unable to comply with deadlines for equipment installation. This is attributed to the lockdown implemented across various countries, which has hampered national and international transport, thereby significantly impacting  the supply chain of numerous industries across the globe, which, in turn, increase the supply–demand gap. Thus, due to restrictions on imports and exports, raw material replenishment took longer than usual, which further reduced the production volume.

Top impacting factors: market scenario analysis, trends, and drivers 

The factors that drive the growth of this market includes surge in energy demand across the globe coupled with lack of lack of power infrastructure and increase in target of mandatory renewable energy targets. Floating power plant eliminates the risk of land acquisition, which further promotes the growth of this market. Floating power plant plays a crucial role in electricity generation at remote areas where power generation is restricted due to scarcity of land mass and can be used as an emergency electric power source.

Floating solar and wind systems have seen a rise in installations, owing to their benefits over the land-based solar plants and the offshore wind farms. The floating solar energy source consists of key components, such as solar panel and floating structures.

However, deployment of floating plant incurs additional cost of transportation. The resources need to be transported at remote places that further increases the overall cost of transportation, thereby restraining the growth of this market. On the contrary, development in overall floating wind farms and ongoing research & development activities to commercially exploit this segment are anticipated to offer profitable growth opportunities over the coming years.     

Key segments covered

Segment

Subsegment

  Type of power source

  • Renewable power source
  • Gas turbines
  • IC engines
  • Non-renewable power source
  • Solar
  • Solar panel
  • Floating structures
  • Wind
  • Wind turbines
  • Sub-structures

  Capacity

  • 1–5 MW
  • 5.1–20 MW
  • 20.1–100 MW
  • 100.1–250 MW
  • Above 250 MW

 

Key benefits of the report

  • This study presents the analytical depiction of the global floating power plant market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global floating power plant market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global floating power plant market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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