Global Floating Power Plant Market 2018-2022| Hybrid Floating Solar Power Plants to Drive Growth| Technavio

The global floating power plant market is expected to post a CAGR of nearly 4% during the period 2018-2022, according to the latest market research report by Technavio.

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A key factor driving the growth of the market is the need for alternative power solution. Generally, electric power is supplied over a grid network, with power being generated from a central location. However, in an event where a power plant fails or when a power plant is unable to meet the entire load, it can affect the functioning of critical facilities such as hospitals, schools, and businesses. In such cases, floating power plants are used to supply power to the affected area, district, or a specific facility that require electricity.

This market research report on the global floating power plant market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the hybrid floating solar power plants as one of the key emerging trends in the global floating power plant market:

Global floating power plant market: Hybrid floating solar power plants

Floating solar power plants face the issue of intermittency, which can be addressed by incorporating another renewable power system with the floating solar power plant. The hybrid floating solar power plant helps provide baseload electricity for floating solar power plants. Hybrid floating solar plants may be added to a fossil fuel power plant to meet peak load power requirements.

“Various companies are adopting this trend, they are combining hybrid floating solar power plants with wind turbines or hydroelectric dam power generation facilities. Moreover, the hybrid floating solar power plant can operate at a lower cost than conventional solar power steam generation technologies,” says a senior analyst at Technavio for research on power.

Global floating power plant market: Segmentation analysis

This market research report segments the global floating power plant market by technology (non-renewable and renewable) and geographical regions (APAC, EMEA, and the Americas).

The non-renewable segment held the largest market share in 2017, accounting for nearly 87% of the market. This technology segment is expected to dominate the global market throughout the forecast period.

EMEA led the market in 2017 with a market share of nearly 45% of the market share. The market share occupied by this region is anticipated to decrease by nearly 2% during 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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