Market Size of Floating Power Plant Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Floating Power Plant Market Analysis
The floating power plant market is expected to rise at a CAGR of approximately 9% during the forecast period of 2020-2025. Factors such as ability electricity generation in the areas which have limited infrastructure and the ability of the plant to be transported and provide rapid demand for power at specific locations are likely to drive the floating power plant market. However, rough weather conditions such as cyclones and tsunami, which destabilize the floating structures, are expected to restrain the floating power plant market.
- The renewable segment, due to its ability to produce clean energy, have impact on the world's changing environmental conditions, is expected to be the largest segment in the floating power plant market.
- The development of technologies such as automation and digitalization in the floating power sector is going to decrease the operational cost of the plants and also reduce the human accidents on site, which is likely to create several opportunities for the floating power plant market in the future.
- Europe held a significant market share and is expected to dominate the market during the forecast period. As of 2019, there are 13 announced offshore floating wind projects globally out of which 9 are in Europe region.
