Market Highlights
Globally, the need for uninterrupted electricity supply is growing because of the rising world population, climbing income levels and industrialization. Enabling the remote regions, with power by constructing new power generation facilities is very difficult as it involves high capital cost and several environmental concerns. Also, huge land area is necessary for the construction of coal, wind and solar power plants which has constraints in many countries. Floating power plants can help overcome this challenge and can provide power continuously with the ability to be relocated. However, the high capital cost of floating power plant and the high level of complexity involved in the design of the systems, will act as restrains for the Floating Power Plant Market, globally.

The Global Floating Power Plant Market is expected to grow at CAGR of around 5.65% during the forecast period.

Key Players:
The key players of global floating power plant market are
• Sungrow Power Supply Co., Ltd (China),
• Wärtsilä (Finland),
• KYOCERA TCL Solar (Japan),
• Floating Power Plant A/S (Denmark),
• MAN Diesel & Turbo SE (Germany),
• Principle Power, INC. (U.S.),
• Karadeniz Energy Group's (Turkey),
• Power Barge Corporation (US),
• Novaton Erneuerbare Energien AG (Switzerland),
• Rosatom State Atomic Energy Corporation (Russia)
• Ciel & Terre International (France).

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Market Research Analysis
Floating solar power plant is expected to grow at the fastest rate
Based on the power plant type, the floating solar power plant market is expected to grow the fastest during the forecast period. The rapid development in solar panel technology coupled with government incentives for renewable energy power is expected to drive this segment. A major advantage of the floating solar power system is the reduction in evaporation, which helps preserve water levels during extreme summer. When panels are installed on a floating platform, the heating problem of solar panel on land is solved to a great extent and results in 16% improved efficiency. This solar power plant floating technology is long-lasting, cost effective, and flexible and requires less time for installation. Several new technologies are coming up in other energy types such as the combination of wind and wave energy floating power plant systems. The power generation capacity is increased tremendously with both wind and wave operating at the same time and these systems can be transported to any location worldwide.

A floating power plant is a revolutionary step in enabling power to remote areas by overcoming the perennial problem of land availability. The growth of floating power plant market is due to various factors such as the rising demand for power because of growing population, no need for acquisition of large land areas, increased government initiatives, and technological advancements and increasing investment by major players into the installation and development of floating solar panels. The usage of floating power plants is found to improve the efficiencies of renewable energy systems such of solar and wind. Moreover the rising demand for power and clean energy, will boost the growth of remote areas, thereby directly propelling the demand for floating power plants. However, the high cost of installation & maintenance and the lack of global service providers in the floating power plant market is expected to hinder the growth of the market.

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This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global floating power plant market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

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