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Report
Asia-Pacific Floating Power Plant Market Forecast 2024-2032
Market Report I 2024-07-16 I 170 Pages I Inkwood Research
KEY FINDINGS
The Asia-Pacific floating power plant market is expected to develop with a CAGR of 10.76% over the forecast period 2024-2032. It is set to reach a revenue of $11342.26 million by 2032.
MARKET INSIGHTS
The Asia-Pacific floating power plant market is witnessing rapid growth, driven by the region's increasing energy demand and the urgent need for sustainable energy solutions. Countries such as China, Japan, South Korea, and India are at the forefront of adopting floating power plants, leveraging their vast water bodies to generate renewable energy. This innovative approach is crucial in addressing the limitations of land availability and minimizing the environmental impact of traditional power generation methods.
REGIONAL ANALYSIS
The Asia-Pacific floating power plant market growth evaluation entails the assessment of China, Japan, India, South Korea, Australia & New Zealand, Indonesia, Vietnam, and Rest of Asia-Pacific.
In China, the government's strong push for renewable energy has resulted in significant investments in floating solar power projects. China's extensive network of lakes and reservoirs provides ideal locations for these installations, allowing for efficient energy capture while preserving land resources for agricultural and urban development. The country's commitment to reducing carbon emissions and combating climate change further accelerates the deployment of floating power plants.
Japan, with its limited land area and high energy consumption, has also embraced floating power plants, particularly floating solar and wind farms. These projects are part of Japan's broader strategy to diversify its energy mix and enhance energy security following the Fukushima nuclear disaster. The floating power plants contribute to the country's renewable energy targets and help in disaster resilience by providing decentralized power generation capabilities.
Moreover, technological advancements are vital in the Asia-Pacific floating power plant market. Innovations in materials and design have improved the durability and efficiency of floating solar panels and wind turbines, making them more resilient to harsh environmental conditions. The integration of energy storage solutions, such as batteries and pumped hydro storage, enhances the reliability of floating power plants. These systems, in turn, ensure a steady supply of electricity even during periods of low renewable energy generation.
Government policies and incentives are also key enablers of the floating power plant market in the Asia-Pacific. Supportive regulatory frameworks, subsidies, and tax incentives encourage investments in renewable energy projects, including floating power plants. These initiatives attract private sector participation and foster public-private partnerships, accelerating the deployment of floating power technologies and contributing to the region's sustainable energy goals.
SEGMENTATION ANALYSIS
The Asia-Pacific floating power plant market segmentation includes the market by source and capacity. The capacity segment is further classified into 0 MW - 5 MW, 5.1 MW - 20 MW, 20.1 MW - 100 MW, 100.1 MW - 250 MW, and above 250 MW.
The capacity of 100.1 MW - 250 MW is crucial for medium to large-scale energy projects, catering to regional and national power demands. These plants are typically used to provide substantial amounts of electricity to support industrial zones, urban centers, and large communities. Their significant capacity allows them to contribute meaningfully to the grid, helping to stabilize the energy supply and reduce reliance on fossil fuels.
For projects exceeding 250 MW, the focus shifts to large-scale power generation capable of transforming national energy landscapes. These high-capacity floating power plants are essential for countries with ambitious renewable energy targets and extensive water bodies. They are designed to generate massive amounts of power, which can meet the needs of densely populated areas and support energy-intensive industries. The deployment of these large-scale floating power plants demonstrates the region's commitment to sustainable energy and the advancement of renewable technologies.
The capacity sub-segments are integral in the Asia-Pacific's energy strategy, helping to diversify the energy mix and reduce greenhouse gas emissions. The development of these floating power plants, supported by government policies and technological innovations, positions the region as a leader in renewable energy adoption. As these projects come online, they will significantly contribute to meeting the growing energy demands of the Asia-Pacific while promoting environmental sustainability.
COMPETITIVE INSIGHTS
Some of the leading players in the Asia-Pacific floating power plant market include MAN Energy Solutions SE, BW Ideol, Ciel & Terre International, Floating Power Plant A/S, etc.
MAN Energy Solutions SE, previously known as MAN Diesel & Turbo SE, specializes in providing large-bore diesel engines and turbomachinery. The company's diverse product portfolio encompasses turbochargers, propellers, gas engines, chemical reactors, and marine propulsion systems. Its turbo machinery units cater to various sectors, including oil and gas, process industries, and power plants, with applications ranging from urban infrastructure to industrial and scientific research. Operating globally, MAN Energy Solutions SE serves markets across the Americas, Europe, Asia-Pacific, the Middle East & Africa, with its headquarters located in Augsburg, Bavaria, Germany.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.4.1. IMPACT OF COVID-19 ON THE ASIA-PACIFIC FLOATING POWER PLANT MARKET
2.5. MAJOR MARKET FINDINGS
2.5.1. GROWING NUMBER OF RENEWABLE ENERGY PROJECTS
2.5.2. RISE IN TREND FOR OFFSHORE WIND PROJECT
2.5.3. NON-RENEWABLE ENERGY SOURCES ARE THE PREDOMINANT TYPE USED IN FLOATING POWER PLANTS
2.5.4. CAPACITY RANGE OF 20.1 MW TO 100 MW IS EXPERIENCING THE FASTEST GROWTH
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. SURGING DEMAND FOR CLEAN ENERGY
3.1.2. GOVERNMENT INVESTMENTS IN THE ENERGY INDUSTRY
3.2. KEY RESTRAINTS
3.2.1. HIGH PROJECT COSTS
3.2.2. TECHNICAL CHALLENGES INVOLVED IN FLOATING POWER PLANTS
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.1.1. POPULARITY OF INTERNAL COMBUSTION (IC) ENGINE-BASED FLOATING POWER PLANTS
4.1.2. RISE IN THE INSTALLATION OF NEW POWER PLANTS
4.1.3. TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1. BUYERS POWER
4.2.2. SUPPLIERS POWER
4.2.3. SUBSTITUTION
4.2.4. NEW ENTRANTS
4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
4.4. MARKET MATURITY ANALYSIS
4.5. MARKET CONCENTRATION ANALYSIS
4.6. VALUE CHAIN ANALYSIS
4.6.1. RAW MATERIALS & COMPONENT SUPPLIERS
4.6.2. ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)
4.6.3. ENGINEERING, PROCUREMENT, AND CONSTRUCTION (EPC) COMPANIES & DEVELOPERS
4.7. KEY BUYING CRITERIA
4.7.1. TECHNOLOGICAL RELIABILITY AND EFFICIENCY
4.7.2. COST-EFFECTIVENESS
4.7.3. EASE OF INSTALLATION AND DEPLOYMENT
4.7.4. REPUTATION AND TRACK RECORD OF THE SUPPLIER OR MANUFACTURER
5. MARKET BY SOURCE
5.1. RENEWABLE POWER SOURCE
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. NON-RENEWABLE POWER SOURCE
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
6. MARKET BY CAPACITY
6.1. 0 MW - 5 MW
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. 5.1 MW - 20 MW
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
6.3. 20.1 MW - 100 MW
6.3.1. MARKET FORECAST FIGURE
6.3.2. SEGMENT ANALYSIS
6.4. 100.1 MW - 250 MW
6.4.1. MARKET FORECAST FIGURE
6.4.2. SEGMENT ANALYSIS
6.5. ABOVE 250 MW
6.5.1. MARKET FORECAST FIGURE
6.5.2. SEGMENT ANALYSIS
7. GEOGRAPHICAL ANALYSIS
7.1. ASIA-PACIFIC
7.1.1. MARKET SIZE & ESTIMATES
7.1.2. ASIA-PACIFIC FLOATING POWER PLANT MARKET DRIVERS
7.1.3. ASIA-PACIFIC FLOATING POWER PLANT MARKET CHALLENGES
7.1.4. ASIA-PACIFIC FLOATING POWER PLANT MARKET REGULATORY FRAMEWORK
7.1.5. KEY PLAYERS IN ASIA-PACIFIC FLOATING POWER PLANT MARKET
7.1.6. COUNTRY ANALYSIS
7.1.6.1. CHINA
7.1.6.1.1. CHINA FLOATING POWER PLANT MARKET SIZE & OPPORTUNITIES
7.1.6.2. JAPAN
7.1.6.2.1. JAPAN FLOATING POWER PLANT MARKET SIZE & OPPORTUNITIES
7.1.6.3. INDIA
7.1.6.3.1. INDIA FLOATING POWER PLANT MARKET SIZE & OPPORTUNITIES
7.1.6.4. SOUTH KOREA
7.1.6.4.1. SOUTH KOREA FLOATING POWER PLANT MARKET SIZE & OPPORTUNITIES
7.1.6.5. AUSTRALIA & NEW ZEALAND
7.1.6.5.1. AUSTRALIA & NEW ZEALAND FLOATING POWER PLANT MARKET SIZE & OPPORTUNITIES
7.1.6.6. INDONESIA
7.1.6.6.1. INDONESIA FLOATING POWER PLANT MARKET SIZE & OPPORTUNITIES
7.1.6.7. VIETNAM
7.1.6.7.1. VIETNAM FLOATING POWER PLANT MARKET SIZE & OPPORTUNITIES
7.1.6.8. REST OF ASIA-PACIFIC
7.1.6.8.1. REST OF ASIA-PACIFIC FLOATING POWER PLANT MARKET SIZE & OPPORTUNITIES
8. COMPETITIVE LANDSCAPE
8.1. KEY STRATEGIC DEVELOPMENTS
8.1.1. MERGERS & ACQUISITIONS
8.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
8.1.3. PARTNERSHIPS & AGREEMENTS
8.1.4. BUSINESS EXPANSIONS & DIVESTITURES
8.2. COMPANY PROFILES
8.2.1. BW IDEOL
8.2.1.1. COMPANY OVERVIEW
8.2.1.2. PRODUCTS LIST
8.2.1.3. STRENGTHS & CHALLENGES
8.2.2. CIEL & TERRE INTERNATIONAL
8.2.2.1. COMPANY OVERVIEW
8.2.2.2. PRODUCTS LIST
8.2.2.3. STRENGTHS & CHALLENGES
8.2.3. FLOATING POWER PLANT A/S
8.2.3.1. COMPANY OVERVIEW
8.2.3.2. PRODUCTS LIST
8.2.3.3. STRENGTHS & CHALLENGES
8.2.4. GENERAL ELECTRIC
8.2.4.1. COMPANY OVERVIEW
8.2.4.2. PRODUCTS LIST
8.2.4.3. STRENGTHS & CHALLENGES
8.2.5. KARPOWERSHIP
8.2.5.1. COMPANY OVERVIEW
8.2.5.2. PRODUCTS LIST
8.2.5.3. STRENGTHS & CHALLENGES
8.2.6. KYOCERA CORPORATION
8.2.6.1. COMPANY OVERVIEW
8.2.6.2. PRODUCTS LIST
8.2.6.3. STRENGTHS & CHALLENGES
8.2.7. MAN ENERGY SOLUTIONS SE
8.2.7.1. COMPANY OVERVIEW
8.2.7.2. PRODUCTS LIST
8.2.7.3. STRENGTHS & CHALLENGES
8.2.8. MITSUBISHI CORPORATION
8.2.8.1. COMPANY OVERVIEW
8.2.8.2. PRODUCTS LIST
8.2.8.3. STRENGTHS & CHALLENGES
8.2.9. OCEAN SUN
8.2.9.1. COMPANY OVERVIEW
8.2.9.2. PRODUCTS LIST
8.2.9.3. STRENGTHS & CHALLENGES
8.2.10. SEATWIRL AB
8.2.10.1. COMPANY OVERVIEW
8.2.10.2. PRODUCTS LIST
8.2.10.3. STRENGTHS & CHALLENGES
8.2.11. SIEMENS AG
8.2.11.1. COMPANY OVERVIEW
8.2.11.2. PRODUCTS LIST
8.2.11.3. STRENGTHS & CHALLENGES
8.2.12. UPSOLAR GROUP CO LTD
8.2.12.1. COMPANY OVERVIEW
8.2.12.2. PRODUCTS LIST
8.2.12.3. STRENGTHS & CHALLENGES
8.2.13. VIKRAM SOLAR LIMITED
8.2.13.1. COMPANY OVERVIEW
8.2.13.2. PRODUCTS LIST
8.2.13.3. STRENGTHS & CHALLENGES
8.2.14. WARTSILA CORPORATION
8.2.14.1. COMPANY OVERVIEW
8.2.14.2. PRODUCTS LIST
8.2.14.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - FLOATING POWER PLANT
TABLE 2: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY SOURCE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY SOURCE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY CAPACITY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY CAPACITY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC FLOATING POWER PLANT MARKET REGULATORY FRAMEWORK
TABLE 9: KEY PLAYERS OPERATING IN ASIA-PACIFIC FLOATING POWER PLANT MARKET
TABLE 10: LIST OF MERGERS & ACQUISITIONS
TABLE 11: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 12: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 13: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: ASIA-PACIFIC FLOATING POWER PLANT MARKET, GROWTH POTENTIAL, BY SOURCE, IN 2023
FIGURE 9: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY RENEWABLE POWER SOURCE, 2024-2032 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY NON-RENEWABLE POWER SOURCE, 2024-2032 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC FLOATING POWER PLANT MARKET, GROWTH POTENTIAL, BY CAPACITY, IN 2023
FIGURE 12: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY 0 MW - 5 MW, 2024-2032 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY 5.1 MW - 20 MW, 2024-2032 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY 20.1 MW - 100 MW, 2024-2032 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY 100.1 MW - 250 MW, 2024-2032 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY ABOVE 250 MW, 2024-2032 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC FLOATING POWER PLANT MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 18: CHINA FLOATING POWER PLANT MARKET, 2024-2032 (IN $ MILLION)
FIGURE 19: JAPAN FLOATING POWER PLANT MARKET, 2024-2032 (IN $ MILLION)
FIGURE 20: INDIA FLOATING POWER PLANT MARKET, 2024-2032 (IN $ MILLION)
FIGURE 21: SOUTH KOREA FLOATING POWER PLANT MARKET, 2024-2032 (IN $ MILLION)
FIGURE 22: AUSTRALIA & NEW ZEALAND FLOATING POWER PLANT MARKET, 2024-2032 (IN $ MILLION)
FIGURE 23: INDONESIA FLOATING POWER PLANT MARKET, 2024-2032 (IN $ MILLION)
FIGURE 24: VIETNAM FLOATING POWER PLANT MARKET, 2024-2032 (IN $ MILLION)
FIGURE 25: REST OF ASIA-PACIFIC FLOATING POWER PLANT MARKET, 2024-2032 (IN $ MILLION)
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