Market Overview:-
Floating power plant plays a crucial role in electricity generation at remote areas where power generation is restricted due to scarcity of land mass. Shortage of electricity or the lack of access is one of the major development hurdles faced by many regions in developing countries. Moreover, in many countries, certain regions are not connected with their national distribution grid and off grid power is their only source of energy. In addition to that, growing concern about climate change and global warming are increasingly forcing nations to switch to renewable energy sources to meet their respective climate change targets.
The struggle to develop enough number of sources for electricity needs of the population has increased the popularity and consequently demand for floating power plants. The task of connecting isolated islands or work sites with electricity lines due to geographical and climate challenges has fuelled the growth of the Floating Power Plants Market further. Also, island power lines are separate from mainland grids in some cases. The practicality of floating power plants in a rapidly changing world is greater as it can be easily set up. The market is anticipated to develop considerably well due to the demand for uninterrupted electricity supply by end users in the forecast period.
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Industry Updates:
April 2018 The only floating nuclear power unit in the world currently (FPU) ‘Academik Lomonosov’ has departed from St. Petersburg, where its construction had been carried out since 2009 and is being lead to its base in Chukotka. The nuclear fuel will be filled into the reactor, and it will be substantially started-up in Murmansk this year in autumn. Its primary task is to provide the isolated port cities, industrial plants, aong with the offshore gas and oil platforms with electric energy. After starting the FNPP into operation, which is intended for 2019, it will swap the Bilibino nuclear power plant and Chaunskaya TPP which are technologically obsolete and will hence become the most northerly nuclear power plant in the world. The nuclear power plant can make up to 70 MW of electric energy and 50 Gcal/hr of heat energy with dual KLT-40S reactor units throughout its normal operation.
Industry Top Key Players:-
The key players of global floating power plant market are MAN Diesel & Turbo (Germany), Karadeniz Holding A.Ş.( Turkey), Vikram Solar Pvt. Ltd. (India), Ciel & Terre International (France), Waller Marine, Inc.(U.S.), Power Barge Corporation (U.S.), Floating Power Plant A/S (Denmark), Principle Power, Inc.(U.S.), Wartsilä (Finland), Kyocera TCL Solar (Japan )and ROSATOM State Atomic Energy Corporation (Russia).
Market Research Analysis:
Based on the power plant platform type, the floating structures market is expected to grow the fastest during the forecast period. The rapid development in solar panel technology, wind technology and wind & wave technology coupled with government incentives for renewable energy power is expected to drive this segment. A major advantage of the floating structure is the compact design and high strength, which helps them withstand in various water levels in all conditions. Floating Structures accounted for the largest market share of 67.14% in 2016 and is projected to grow at the highest rate during the forecast period.
Currently, market for floating power plants is growing, especially by the renewable energy source types such as solar, wind and wave power. One of the advantages of these floating power plant systems is their ability to be relocated to any location where there is a demand for power. This will also enable electricity to be cheaper, which will result in its strong growth. Floating power plants are a safe and efficient power source for remote islands and they are less susceptible to natural disasters.
Major Points of TOC:-
1 Executive Summary
2 Introduction
3 Research Methodology
4 Market Dynamics
4.1 Drivers 19
4.1.1 Advantageous Over Conventional Land-Based Power Plants 19
4.1.2 Lack Of Power Infrastructure In Remote Locations 19
4.1.3 Growing Demand For Clean Energy 19
4.2 Growth Drivers: Impact Analysis 20
4.3 Restraints 20
4.3.1 High Capital Cost Of Offshore Power Infrastructure 20
4.3.2 Access To Offshore Installations 20
4.4 Growth Barriers: Impact Analysis 21
4.5 Opportunity 22
4.5.1 R&D In Floating Power Plants 22
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5 Market Factor Analysis
5.1 Porter’s 5 Forces Analysis 23
5.1.1 Threat Of New Entrants 24
5.1.2 Bargaining Power Of Suppliers 24
5.1.3 Threat Of Substitutes 24
5.1.4 Bargaining Power Of Buyers 24
5.1.5 Segment Rivalry 24
5.2 Value Chain Analysis 25
Continued……..
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