Floating Power Plants require less space as compared to land-based power plants. Fortune Business Insights recognizes this as a major factor boosting the global floating power plant market in their new study. The study is titled, “Floating Power Plant Market Size, Share and Global Trend by Fuel Type (Renewable, Non-Renewable), By Capacity (Up to 50MW, 50MW – 100MW, 100MW – 300MW, above 300MW) and by Geography Forecast till 2026”, and it focuses on major factors driving and restricting growth of the market during the forecast period.
For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/floating-power-plant-market-100422
According to the report, the renewable resources segment accounts for the largest share in the market with respect to categorization by fuel type. This is because of the gradual shift towards cleaner energy and thus, this segment is likely to remain dominant in the future too.
Rising Demand to Meet the Needs of Growing Technology Propelling Market
Flexible power plants are a combination of power generation and marine technology. They have a decentralized power generation and are flexible enough to run both on double-cycle modes as well on single ones. They are designed based on the concept of gas turbine power that was used on land traditionally. These traditional land-based gas turbine power plants are modified and applied to the marine environment for making floating power plants.
In order to meet the needs of the growing technology used every day, there is a constant demand for power and it keeps increasing by the day. This increasing demand for power generation is anticipated to boost the global market for floating power plants.
Key Market Driver – The rise in demand for power all over the world and effective generation of power
Key Market Restraint – High capital cost for offshore infrastructure
However, the increasing popularity of distributed energy generation is affecting the growth of non-renewable energy generation and this is further having a negative impact on the growth of the overall market. In addition to that, the high capital expenditure on logistics, and transportation may hamper the growth of the market in the forecast period. Furthermore, the accessibility issues faced by floating power generators may cause hindrance to the overall growth of the market in the long run.
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Asia Pacific to Emerge Dominant on Account of Rising Installation of Renewable Power Plants
Fortune Business Insights foresees the Asia Pacific market to dominate because of the increasing renewable floating power plants in nations such as India, Japan, Myanmar, China, and Indonesia. It is expected that during the forecast period, Europe is likely to emerge as the fastest-growing region, attributable to the fact that this region has the highest potential of offshore wind capacity. European nations are stressing on generating more and more energy from renewable sources.
- By Fuel Type
- Gas Turbine
- IC engine
- By Capacity
- Up to 50MW
- 50MW – 100MW
- 100MW – 300MW
- Above 300MW
- By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Some notable players functioning in the global market are
- Ciel & Terre International
- Mitsubishi Corporation
- General Electric Company
- Siemens AG
- Caterpillar Inc
- Vikram Solar Pvt. Ltd.
- Yingli Solar
- Floating Power Plant A/S
- Kyocera Corporation
- Principle Power Inc
- MAN Diesel & Turbo SE
Have any Query? Speak to Analyst at: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/floating-power-plant-market-100422
Major Table of Content For Floating Power Plant Market :
- Executive Summary
- Market Dynamics
- Key Insights
- Global Floating Power Plant Market Analysis, Insights and Forecast, 2016
- North America Floating Power Plant Market Analysis, Insights and Forecast, 2016
- Europe Floating Power Plant Market Analysis, Insights and Forecast, 2016
- Asia Pacific Floating Power Plant Market Analysis, Insights and Forecast, 2016
- Middle East and Africa Floating Power Plant Market Analysis, Insights and Forecast, 2016
- Latin America Floating Power Plant Market Analysis, Insights and Forecast, 2016
- Competitive Landscape
- Company Profile
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