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Floating Power Plants Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2034

Publisher Global Market Insights
Published Jul 15, 2025
Length 210 Pages
SKU # GMI20337010

Description

The Global Floating Power Plants Market was valued at USD 3.9 billion in 2024 and is estimated to grow at a CAGR of 8.2% to reach USD 8.5 billion by 2034.

The market growth is driven by the rising demand for flexible, mobile, and reliable power generation solutions. Floating power plants (FPPs) emerging as a viable alternative to traditional land-based plants, offering the advantage of rapid deployment, mobility, and minimal land-use constraints. With global energy demand continuing to rise and the urgency for clean, efficient power solutions intensifying, floating power plants provide a unique answer to both grid-connected and off-grid energy needs. Their ability to integrate renewable technologies, reduce carbon emissions, and supply power to remote or disaster-affected regions makes them an attractive option for governments, utility providers, and private operators.

In 2024, the renewable energy segment accounted for the largest market share, generating USD 3.7 billion, owing to the global shift toward decarbonization and sustainable energy policies. The market’s growth is strongly supported by rising adoption of renewable floating power systems, especially floating solar and wind, which offer scalable, environmentally friendly power solutions. Floating solar plants are gaining momentum in densely populated regions where land scarcity is a concern, while floating wind farms are becoming a vital part of offshore renewable energy infrastructure. These systems are also complemented by hybrid configurations, combining renewables with conventional power plants to ensure consistent energy supply even in variable weather conditions.

The manmade water bodies segment in the floating power plants market reached USD 2.8 billion in 2024 as artificial reservoirs, dams, and industrial water basins offer controlled environments for power plant deployment. These water bodies provide stable conditions with reduced exposure to harsh marine dynamics, enabling easier installation, maintenance, and longer asset lifespans. Growing investments in hydropower dams and artificial reservoirs across regions such as Asia Pacific and the Middle East are creating new opportunities for integrating floating solar and hybrid power plants. Moreover, the ability to utilize underused industrial ponds and reservoirs for clean energy generation supports efficient land use, aligning with sustainability goals and boosting the adoption of floating power plants in manmade water environments.

Asia Pacific Floating Power Plants Market generated USD 3.4 billion in 2024, supported by its strong emphasis on renewable energy expansion, growing electricity demand, and government-backed initiatives promoting floating solar and wind projects. Countries such as China, Japan, South Korea, and India are leading installations, leveraging their vast coastlines and technological advancements to scale floating power deployment. Meanwhile, Europe is at the forefront of offshore wind-based floating power plants, supported by ambitious renewable energy targets and substantial investments in North Sea projects. North America is also seeing a rise in floating solar adoption, particularly in the U.S., where utilities and state governments are focusing on maximizing underutilized water surfaces for energy production.

The Global Floating Power Plants Market is highly competitive, with companies focusing on innovation, capacity expansion, and strategic collaborations to strengthen their positions. Key players in the market include Siemens AG, Wartsila Corporation, General Electric, MAN Energy Solutions, Caterpillar Inc., Kyocera Corporation, and Mitsubishi Heavy Industries. These companies are investing heavily in advanced technologies, renewable integration, and modular floating plant designs, catering to both large-scale utility projects and localized power requirements. Partnerships with governments and independent power producers are also key strategies being deployed to accelerate global adoption and establish long-term market leadership.

Table of Contents

210 Pages
Chapter 1 Methodology
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.1.3 Base estimates and calculations
1.1.4 Base year calculation
1.1.5 Market estimates & forecasts parameters
1.1.6 Key trends for market estimates
1.2 Market definitions
1.3 Forecast model
1.4 Primary research and validation
1.5 Some of the primary sources (but not limited to)
1.6 Data mining sources
1.6.1 Secondary
1.6.1.1 Paid sources
1.6.1.2 Source by region
Chapter 2 Executive Summary
2.1 Industry snapshot
2.2 Business trends
2.3 Power source trends
2.4 Capacity trends
2.5 Deployment trends
2.6 Application trends
2.7 Regional trends
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.2.1 International
3.2.1.1 IEC TS 62862
3.2.1.2 IEC 61730
3.2.1.3 ISO 9001
3.2.1.4 ISO 14001
3.2.1.5 ISO 45001
3.2.1.6 ISO 19901-6
3.2.1.7 DNV-RP-0584 (2021)
3.2.2 North America
3.2.2.1 U.S.
3.2.2.1.1 Clean Water Act - Section 404 & Section 401
3.2.2.1.2 National Environmental Policy Act (NEPA)
3.2.2.1.3 Endangered Species Act (ESA) & National Historic Preservation Act (NHPA)
3.2.2.1.4 Wild and Scenic Rivers Act & Multijurisdictional Water Bodies
3.2.2.1.5 BOEM & Offshore Leasing via OCSLA
3.2.2.1.6 The Jones Act (Merchant Marine Act of 1920)
3.2.2.1.7 Floating LNG (FSRP / FLNG) - Maritime & Energy Regulations
3.2.2.2 Canada
3.2.2.2.1 Canadian Navigable Waters Act
3.2.2.3 Offshore Renewable Energy Regulations (SOR/2024-272)
3.2.2.4 Environmental Review via Impact Assessment Act
3.2.2.5 Canadian Energy Regulator
3.2.2.6 Mexico
3.2.2.6.1 Electricity Industry Law
3.2.2.6.2 Offshore Development via SENER
3.2.3 Europe
3.2.3.1 UK
3.2.3.1.1 Planning & Environmental Laws
3.2.3.1.2 Offshore Licensing (Crown Estate & MMO)
3.2.3.2 Floating LNG: Safety & Marine Oversight
3.2.3.3 Germany
3.2.3.3.1 Environmental Permits under BImSchG & State Law
3.2.3.3.2 Offshore Wind Energy Act
3.2.3.3.3 Water Resources Act
3.2.3.4 France
3.2.3.4.1 ESSOC Law & Streamlined Permitting
3.2.3.5 Floating Power Plant: Safety, Licensing, and Environmental Framework
3.2.3.6 Spain
3.2.3.6.1 Royal Decree (July 2024) - Public Reservoirs & Surface Limits
3.2.3.6.2 Royal Decree 1475/2021 - Offshore Planning Zones
3.2.4 Asia Pacific
3.2.4.1 China
3.2.4.1.1 National Zoning & Environmental Policy
3.2.4.1.2 Grid & Planning Regulations
3.2.4.2 India
3.2.4.2.1 National Policy Framework for Floating Solar
3.2.4.2.2 National Policy Framework for Floating Wind
3.2.4.3 Japan
3.2.4.3.1 National Design Standards and Applicability
3.2.4.3.2 Exclusive Zone Allocation through National Auctions
3.2.4.4 Australia
3.2.4.4.1 Federal Environmental Laws (EPBC Act)
3.2.4.4.2 Offshore Electricity Infrastructure Act 2021
3.2.5 Middle East & Africa
3.2.5.1 UAE
3.2.5.1.1 Floating Solar Legal Framework
3.2.5.2 Saudi Arabia
3.2.5.2.1 National Renewable Energy Program (NREP)
3.2.5.2.2 Offshore Energy Regulatory Authorities
3.2.6 Latin America
3.2.6.1 Brazil
3.2.6.2 Argentina
3.2.6.2.1 Provincial Level Regulation
3.2.6.2.2 National Incentives & Grid Connection
3.2.6.2.3 Environmental & Port Authority Compliance
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Shifting focus toward grid modernization
3.3.1.2 Rising integration of renewable energy
3.3.1.3 Surging deployment of advanced power quality monitoring & mitigation solutions
3.3.2 Industry pitfalls & challenges
3.3.2.1 High initial & maintenance cost
3.4 Growth potential analysis
3.5 Porter's analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2025
4.1 Introduction
4.2 Company market share analysis, 2024
4.3 Strategic dashboard
4.3.1 Ciel & Terre
4.3.1.1 Project development
4.3.1.2 Partnership
4.3.1.3 Divesture
4.3.1.4 Installation/supply
4.3.2 Siemens Energy
4.3.2.1 Contract
4.3.3 Wärtsilä
4.3.3.1 Supply/installation
4.3.4 CHN Energy
4.3.4.1 Project development
4.3.5 HEXA Renewables
4.3.5.1 Project development
4.3.5.2 Collaboration
4.3.6 RWE
4.3.6.1 Collaboration
4.3.6.2 Project development
4.3.6.3 Agreement
4.3.7 Equinor
4.3.7.1 Partnership
4.3.8 Kawasaki Heavy Industries
4.3.8.1 Collaboration
4.3.9 MAN Energy Solutions
4.3.9.1 Supply/installation
4.3.10 GE Vernova
4.3.10.1 Investment
4.3.11 Sterling and Wilson Renewable Energy
4.3.11.1 Contract
4.3.12 BW Ideol
4.3.12.1 Project development
4.3.12.2 Partnership
4.3.13 Floating Power Plant
4.3.13.1 Acquisition
4.3.14 Vestas
4.3.14.1 Supply/installation
4.3.14.2 Memorandum of Understanding (MoU)
4.3.15 Ørsted
4.3.15.1 Memorandum of Understanding (MoU)
4.3.15.2 Agreement
4.3.16 Swimsol
4.3.16.1 Investment
4.3.17 Electricity Generating Authority of Thailand (EGAT)
4.3.17.1 Installation/supply
4.3.17.1 Contract
4.3.18 SJVN Green Energy Limited
4.3.18.1 Partnership
4.3.18.2 Project development
4.3.19 Tata Power
4.3.19.1 Project development
4.3.20 CGN New Energy Holdings
4.3.20.1 Project development
4.3.21 National Power Supply PCL
4.3.21.1 Project development
4.4 Strategic initiatives
4.5 Company benchmarking
4.6 Innovation & sustainability landscape
4.6.1 Karadeniz Holding
4.6.2 BW Ideol
4.6.3 Equinor
Chapter 5 Market Size and Forecast, By Power Source, 2021 - 2034 (MW & USD Million)
5.1 Key trends
5.2 Renewable
5.2.1 Wind
5.2.2 Solar
5.3 Non-renewable
5.3.1 Gas turbine
5.3.2 IC Engines
Chapter 6 Market Size and Forecast, By Capacity, 2021 - 2034 (MW & USD Million)
6.1 Key trends
6.2 > 1 - 5 MW
6.3 > 5 - 20 MW
6.4 > 20 - 100 MW
6.5 > 100 MW
Chapter 7 Market Size and Forecast, By Deployment, 2021 - 2034 (MW & USD Million)
7.1 Key trends
7.2 Ships
7.3 Barges
7.4 Modular rafts
7.5 Others
Chapter 8 Market Size and Forecast, By Application, 2021 - 2034 (MW & USD Million)
8.1 Key trends
8.2 Manmade water bodies
8.3 Natural Water Bodies
Chapter 9 Market Size and Forecast, By Region, 2021 - 2034 (MW & USD Million)
9.1 Key trends
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Middle East & Africa
9.6 Latin America
Chapter 10 Company Profiles
10.1 BW Ideol
10.1.1 Financial Data
10.1.2 Product Landscape
10.1.3 Strategic Outlook
10.1.4 SWOT Analysis
10.2 CHN Energy
10.2.1 Financial Data
10.2.2 Product LANDSCAPE
10.2.3 Strategic Outlook
10.2.4 SWOT Analysis
10.3 Ciel & Terre
10.3.1 Financial Data
10.3.2 Product Landscape
10.3.3 Strategic Outlook
10.3.4 SWOT Analysis
10.4 Equinor
10.4.1 Financial Data
10.4.2 Product Landscape
10.4.3 Strategic Outlook
10.4.4 SWOT Analysis
10.5 Floating Power Plant
10.5.1 Financial Data
10.5.2 Product Landscape
10.5.3 Strategic Outlook
10.5.4 SWOT Analysis
10.6 GE Vernova
10.6.1 Financial Data
10.6.2 Product Landscape
10.6.3 Strategic Outlook
10.6.4 SWOT Analysis
10.7 HEXA Renewables
10.7.1 Financial Data
10.7.2 Product Landscape
10.7.3 Strategic Outlook
10.7.4 SWOT Analysis
10.8 Karadeniz Holding
10.8.1 Financial Data
10.8.2 Product Landscape
10.8.3 Strategic Outlook
10.8.4 SWOT Analysis
10.9 Kawasaki Heavy Industries
10.9.1 Financial Data
10.9.2 Product Landscape
10.9.3 Strategic Outlook
10.9.4 SWOT Analysis
10.10 MAN Energy Solutions
10.10.1 Financial Data
10.10.2 Product Landscape
10.10.3 Strategic Outlook
10.10.4 SWOT Analysis
10.11 Mitsubishi Heavy Industries
10.11.1 Financial Data
10.11.2 Product Landscape
10.11.3 SWOT Analysis
10.12 Ørsted
10.12.1 Financial Data
10.12.2 Product Landscape
10.12.3 Strategic Outlook
10.12.4 SWOT Analysis
10.13 RWE
10.13.1 Financial Data
10.13.2 Product Landscape
10.13.3 Strategic Outlook
10.13.4 SWOT Analysis
10.14 Siemens Energy
10.14.1 Financial Data
10.14.2 Product Landscape
10.14.3 Strategic Outlook
10.14.4 SWOT Analysis
10.15 Sterling & Wilson Renewable Energy
10.15.1 Financial Data
10.15.2 Product Landscape
10.15.3 Strategic Outlook
10.15.4 SWOT Analysis
10.16 Swimsol
10.16.1 Financial Data
10.16.2 Product Landscape
10.16.3 Strategic Outlook
10.16.4 SWOT Analysis
10.17 Vestas
10.17.1 Financial Data
10.17.2 Product Landscape
10.17.3 Strategic Outlook
10.17.4 SWOT Analysis
10.18 Wärtsilä
10.18.1 Financial Data
10.18.2 Product Landscape
10.18.3 Strategic Outlook
10.18.4 SWOT Analysis
10.19 SJVN Green Energy Limited
10.19.1 Financial Data
10.19.2 Product Landscape
10.19.3 Strategic Outlook
10.19.4 SWOT Analysis
10.20 Tata Power
10.20.1 Financial Data
10.20.2 Product Landscape
10.20.3 Strategic Outlook
10.20.4 SWOT Analysis
10.21 CGN New Energy Holdings Co., Ltd.
10.21.1 Financial Data
10.21.2 Project Landscape
10.21.3 Strategic Outlook
10.21.4 SWOT Analysis
10.22 Electricity Generating Authority of Thailand
10.22.1 Financial Data
10.22.2 Project Landscape
10.22.3 Strategic Outlook
10.22.4 SWOT Analysis
10.23 National Power Supply Public Company Limited
10.23.1 Financial Data
10.23.2 Product Landscape
10.23.3 Strategic Outlook
10.23.4 SWOT Analysis

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