Global Floating Power Plant Market Size, Trends and Growth Opportunity, By Power Source (Non- Renewable and Renewable), By Power Rating (Low-Power FPP, Medium- Power FPP and High Power FPP), By Region and Forecast till 2027.
Global Floating Power Plant Market
The global floating power plant market was valued at US$10.2 billion in 2021 and it is expected to reach at US$15.8 billion in 2027 at a CAGR of 11.2% during forecast period 2022-2027.
An existing cargo ship's power generator is referred to as a floating power plant. Self-propelled and mobile, floating power plants can go anywhere and link to the national grid as needed. In order to meet the growing need for electricity, particularly in outlying and rural areas, floating power plants can potentially replace land-based power plants. Furthermore, it offers a range of advantages, including quick electricity delivery to places with poor infrastructure, a smaller footprint than land-based power plants, the ability to be moved to locations where electricity is needed and reliable power supply in the event of earthquakes and floods.
The lack of adequate power infrastructure, the rising demand for clean energy, and rising government investments in the energy sector are all expected to fuel market expansion for floating power plants over the assessment period. Another important element that is anticipated to drive the market is the low operating costs, high dependability, and high power density of floating power plants powered by IC engines.
Transport costs increase when a floating plant is deployed. Because the resources must be carried from far-off locations, the cost of transportation as a whole rises, restricting the market's expansion.
The global floating power plant market segmented on the basis of power source and power rating. On the basis of power source it segmented into non- renewable and renewable and on the basis of non- renewable it further segmented into gas turbines and IC engines and on the basis of renewable it segmented into solar and wind. On the basis of power rating it segmented into low-power FPP, medium- power FPP and high power FPP.
The global floating power plant market segmented into five regions North America, Europe, Latin America, Asia Pacific, Middle East and Africa. During the evaluation period, it is expected that Asia Pacific will account for the biggest market share for floating power plants. The rapid infrastructure expansion in a variety of end-use industries in growing economies like India and China as well as the rising adoption of renewable energy sources are both responsible for this rise.
Various key players are listed in this report such as Wartsila, Siemens Gas and Power GmbH & Co., Burmeister & Wain Scandinavian Contractor A/S, Kawasaki Heavy Industries, Ltd., Mitsubishi Heavy Industries, Ltd., General Electric, Caterpillar, MAN Energy Solutions, Ciel & Terre International, Floating Power Plant A/S.
By Power Source
§ Gas Turbines
§ IC Engines
By Power Rating
Medium- Power FPP
High Power FPP
Key Question Addressed by the Report
What are the Key Opportunities in Global Floating Power Plant Market?
What will be the growth rate from 2022 to 2027.
Which segment/region will have highest growth?
What are the factors that will impact/drive the Market?
What is the role of key players in the value chain?
What is the competitive Landscape in the industry?
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