The global floating power plant market is expected to witness a growth rate of 10.11%, from 2017 to 2022. The increasing demand for power, coupled with lack of power infrastructure, and benefits over land based power plants (majorly as it eliminates the land acquisition related problems), are some of the driving factors for the floating power plant market.
The floating power plant market includes both global and small regional players. Some of the key players operating in the market includes MAN Diesel & Turbo SE (Germany), Mitsubishi Corporation (Japan), Wartsila (Finland), General Electric Company (U.S.), Siemens AG (Germany), Caterpillar, Inc. (U.S.), Ciel & Terre International (France), Floating Power Plant A/S (Denmark), Ideol (France), Kyocera Corporation (Japan), Principle Power, Inc.(U.S.), Upsolar (Hong Kong), Vikram Solar Pvt., Ltd. (India), Yingli Solar (China), and SeaTwirl AB (Sweden), among others.
The growth strategies adopted by the key players in the floating power plant market includes contracts & agreements, partnerships, collaborations, alliances and joint ventures, new product launches, expansions, and mergers & acquisitions. Contracts & agreements had been the key growth strategy adopted by companies to enhance their client base in the floating power plant market, over the past five years (2013 to 2017).
Siemens AG (Germany), Yingli Solar (China), Ciel & Terre International (France), Kyocera Corporation (Japan), and Ideol (France) were among the leading players in the floating power plant market, in terms of development share.
Ciel & Terre International is one of the leading players in the floating solar industry. It operates its business through the floating solar solution, Hydrelio technology. It also provides various floating solar services such as design, engineering, financing, legal, construction, operation, and maintenance. In June 2017, Ciel & Terre International received a contract to build 70 MW floating solar power plant in Anhui province (China). This would be one of the projects to reach the installation of 1GW of floating solar power plants in China.
MAN Diesel & Turbo SE is a global turbomachinery and diesel engine provider for marine and stationery applications. The company offers liquid fuel engines and duel fuel engines under its power plants business site. In July 2017, MAN Diesel received a contract from Karpowership (U.A.E.) to supply 38 MAN 51/60 engines, 18 units of multi-fuel engines, and 20 units of pure gas engines including MAN 18V51/60G TS. These engines would have a power output of 18.5 MW to 20.4 MW.
Floating Power Plant Market by Power Source (Non-Renewable (Gas Turbines, IC Engines), Renewable (Solar Panels, Solar Floating Structure, Wind Turbines, Wind Substructure)), Capacity, and Region - Global Forecast to 2022
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