New York, Oct. 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Floating Power Plant Global Market Report 2022” – https://www.reportlinker.com/p06323463/?utm_source=GNW
, Upsolar Inc., Vikram Solar Ltd, SeaTwirl AB, Ideol, Wartsila, Yingli Solar, Equinor ASA, Kawasaki Heavy Industries Ltd, Karadeniz Holding, and Kyocera Corporation.
The global floating power plant market is expected to grow from $2.17 billion in 2021 to $2.40 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The floating power plant market is expected to grow to $3.36 billion in 2026 at a CAGR of 8.8%.
The floating power plant market consists of sales of floating power plants by entities (organizations, sole traders, and partnerships) that are used to fulfil increasing power demand and supply electricity in low infrastructure areas.A floating power plant refers to a power generator plant based on marine technology on previously installed cargo ships.
These can be relocated to some other location and do not require any large site for installation. It also provides the supply of electricity in case of floods and earthquakes.
The main types of floating power plant markets are floating solar power, floating wind, floating wind and wave power, floating nuclear power, and others.Floating solar power refers to the production of energy by using marine technology and renewable energy over the water bodies.
The various type of power sources include non-renewable power sources and renewable power sources, and have different capacities such as 1 MW–5 MW, 5.1 MW–20 MW, 20.1 MW–100 MW, 100.1 MW–250 MW, and above 250 MW.
Europe was the largest region in the floating power plant market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the floating power plant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The floating power plant market research report is one of a series of new reports that provides floating power plant market statistics, including floating power plant industry global market size, regional shares, competitors with a floating power plant market share, detailed floating power plant market segments, market trends and opportunities, and any further data you may need to thrive in the floating power plant industry. This floating power plant market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The rising demand for energy across the globe is expected to propel the growth of the floating power plant market going forward.Energy refers to the energy derived from electrical potential energy or kinetic energy, which helps in the working of a machine.
Due to the increase in industrialization, there is an increase in demand for energy-floating power plants that help in managing the free flow of electricity in industries.For instance, according to the International Energy Agency (IEA), a France-based intergovernmental organization, in April 2021, the global electricity demand had increased by 1,000 terawatt hours (TWh), showing a global increase of 4%.
Therefore, increasing energy consumption is driving the growth of the floating power plant market.
Technological advancement is a key trend gaining popularity in the floating power plant market.Major companies operating in the floating power plant sector are focused on introducing new technologies to sustain their position.
For instance, in September 2021, Linxon, a Switzerland-based power generation company, launched advanced floating substation technology.This technology helps to minimize the carbonization of the electricity grid and can potentially generate electricity.
Also, this floating substation technology helps in generating renewable electricity.
In February 2020, Marubeni Corporation, a Japan-based company specializing in electrical industrial plant businesses, acquired Chenya Energy Co Ltd for an undisclosed amount.This acquisition helps Marubeni Corporation to increase its floating solar power business and renewable energy development capabilities.
Chenya Energy Co., Ltd. is a Taiwan-based company that operates in the fields of the development of floating solar power plants and construction.
The countries covered in the floating power plant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06323463/?utm_source=GNW
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