ASIA-PACIFIC FLOATING POWER PLANT MARKET 2023-2028

Energy, Power & Utilities | Power

ASIA-PACIFIC FLOATING POWER PLANT MARKET 2023-2028

Market by Capacity, Source, and Country Outlook | Forecast 2023-2028

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According to Triton’s report, the Asia-Pacific floating power plant market is expected to register revenue growth with a CAGR of 11.41% during the forecasted period 2023-2028.



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The countries examined in the studied region include:

•         China

•         India

•         Japan

•         South Korea

•         Australia & New Zealand

•         ASEAN Countries

•         Rest of Asia-Pacific

The Asia-Pacific region is a diverse area encompassing countries stretching from East Asia to Oceania. It is home to a significant portion of the world’s population and has experienced rapid economic growth in recent decades. As the region strives to meet its increasing energy demands, the need for innovative solutions becomes paramount. One such solution gaining traction is floating power plants. The Asia-Pacific region is geographically characterized by coastlines, making traditional power infrastructure challenging to implement. Floating power plants provide a flexible and efficient alternative, utilizing offshore spaces to generate renewable energy and meet the soaring electricity requirements in this region.

 

China holds the highest share value in the Asia-Pacific floating power plant market. The nation’s progress can be attributed to its extensive coastline, abundant offshore wind potential, ambitious targets by coastal provinces, commitment to offshore wind projects, and strategic initiatives by key players like GE Renewable Energy. For instance, in May 2020, GE Renewable Energy launched an offshore wind factory in the province of Guangdong. Therefore, these factors widen the overall scope of the Chinese floating power plant market.

 

Like China, India fuels the demand for floating power plants for several reasons. With its long coastline and limited land availability, floating power plants provide a viable solution for offshore energy generation. The nation’s commitment to renewable energy and ambitious targets for offshore wind development contributes to the growing demand. The country’s initiatives further drive the deployment of floating power plants, fueling the studied market’s progression.

 

Non-renewable power sources, such as fossil fuels and natural gas, offer reliable and established technology but contribute to carbon emissions and environmental concerns. On the other hand, renewable power sources like solar, wind, and hydro provide clean energy solutions, mitigating environmental impact. The shift towards renewable sources in the floating power plant market is driven by the growing global focus on sustainability and reducing greenhouse gas emissions, fostering the development of innovative and eco-friendly energy solutions.

 

The floating power plant market is divided into two segments, i.e., by capacity and source. The source segment further includes: non-renewable and renewable.

 

The well-known companies in the market consist of SeaTwirl AB, Floating Power Plant AS, Upsolar Group Co Ltd, Caterpillar Inc, Kyocera Corporation, Mitsubishi Corporation, Wartsila Corporation, Siemens AG, MAN Energy Solutions SE, and Vikram Solar Limited.

 

Mitsubishi Corporation is a Tokyo-based global integrated business enterprise that operates in diverse industries, including energy, chemicals, metals, machinery, foods, and the environment. With a presence across North and Latin America, Asia-Pacific, Europe, Middle East & Africa, the company offers comprehensive solutions for various stages of business, ranging from development and procurement to production, logistics, and sales. With its broad portfolio and headquarters in Japan, Mitsubishi Corporation plays a significant role in the global market, driving growth and innovation in multiple sectors.

 

Key deliverables of the report:

      Market CAGR during the forecasting years 2023-2028

      Detailed data highlighting key insights, industry components, and market strategies


      Comprehensive information and estimation of the floating power plant market revenue growth in the Asia-Pacific and its influence on the parent market


      In-depth study of forthcoming trends in consumer behavioral patterns


      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces


      A wide-ranging study of factors that will challenge the APAC floating power plant market’s growth during the upcoming years

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Table of Content

1. ASIA-PACIFIC FLOATING POWER PLANT MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. ASSESSMENT OF SHIP-BASED FLOATING POWER PLANTS

2.1.1. DEVELOPMENTS RELATED TO SHIP-BASED FLOATING POWER PLANTS

2.2. IMPACT ANALYSIS ON THE FLOATING POWER PLANT MARKET

2.2.1. COVID-19 IMPACT

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET MATURITY ANALYSIS

2.5. INDUSTRY COMPONENTS

2.5.1. RAW MATERIALS & COMPONENT SUPPLIERS

2.5.2. OEMS

2.5.3. EPC COMPANIES & DEVELOPERS

2.6. REGULATORY FRAMEWORK

2.7. KEY MARKET STRATEGIES

2.7.1. COLLABORATIONS

2.7.2. PRODUCT LAUNCHES

2.7.3. MERGERS & ACQUISITIONS

2.7.4. BUSINESS DIVESTITURES & EXPANSIONS

2.8. MARKET DRIVERS

2.8.1. RISING POPULARITY OF OFFSHORE WIND PROJECTS

2.8.2. GROWING CLEAN ENERGY PROJECTS

2.9. MARKET CHALLENGES

2.9.1. TECHNICAL CHALLENGES INVOLVED IN FLOATING POWER PLANTS

2.9.2. HIGH COST OF PROJECTS

2.10. MARKET OPPORTUNITIES

2.10.1. RISING POPULARITY OF IC ENGINE-BASED FLOATING POWER PLANTS

2.10.2. RISE IN THE INSTALLATION OF NEW POWER PLANTS

2.11. ANALYST PERSPECTIVE

3. ASIA-PACIFIC FLOATING POWER PLANT MARKET – BY CAPACITY

3.1. 0MW- 5MW

3.2. 5.1 MW- 20 MW

3.3. 20 MW- 100 MW

3.4. 100.1 MW- 250 MW

3.5. ABOVE 250 MW

4. ASIA-PACIFIC FLOATING POWER PLANT MARKET – BY SOURCE

4.1. NON-RENEWABLE POWER SOURCE

4.2. RENEWABLE POWER SOURCE

5. ASIA-PACIFIC FLOATING POWER PLANT MARKET – BY COUNTRY OUTLOOK

5.1. CHINA

5.1.1. CHINA FLOATING POWER PLANT MARKET FORECAST & PROSPECTS

5.2. JAPAN

5.2.1. JAPAN FLOATING POWER PLANT MARKET FORECAST & PROSPECTS

5.3. INDIA

5.3.1. INDIA FLOATING POWER PLANT MARKET FORECAST & PROSPECTS

5.4. SOUTH KOREA

5.4.1. SOUTH KOREA FLOATING POWER PLANT MARKET FORECAST & PROSPECTS

5.5. ASEAN COUNTRIES

5.5.1. ASEAN COUNTRIES FLOATING POWER PLANT MARKET FORECAST & PROSPECTS

5.6. AUSTRALIA & NEW ZEALAND

5.6.1. AUSTRALIA & NEW ZEALAND FLOATING POWER PLANT MARKET FORECAST & PROSPECTS

5.7. REST OF ASIA-PACIFIC

5.7.1. REST OF ASIA-PACIFIC FLOATING POWER PLANT MARKET FORECAST & PROSPECTS

6. COMPETITIVE LANDSCAPE

6.1. SEATWIRL AB

6.1.1. OVERVIEW

6.1.2. PRODUCT PORTFOLIO

6.1.3. KEY STRENGTHS

6.1.4. KEY CHALLENGES

6.2. FLOATING POWER PLANT AS

6.2.1. OVERVIEW

6.2.2. PRODUCT PORTFOLIO

6.2.3. KEY STRENGTHS

6.2.4. KEY CHALLENGES

6.3. UPSOLAR GROUP CO LTD

6.3.1. OVERVIEW

6.3.2. PRODUCT PORTFOLIO

6.3.3. KEY STRENGTHS

6.3.4. KEY CHALLENGES

6.4. CATERPILLAR INC

6.4.1. OVERVIEW

6.4.2. PRODUCT PORTFOLIO

6.4.3. KEY STRENGTHS

6.4.4. KEY CHALLENGES

6.5. KYOCERA CORPORATION

6.5.1. OVERVIEW

6.5.2. PRODUCT PORTFOLIO

6.5.3. KEY STRENGTHS

6.5.4. KEY CHALLENGES

6.6. MITSUBISHI CORPORATION

6.6.1. OVERVIEW

6.6.2. PRODUCT PORTFOLIO

6.6.3. KEY STRENGTHS

6.6.4. KEY CHALLENGES

6.7. VIKRAM SOLAR LIMITED

6.7.1. OVERVIEW

6.7.2. PRODUCT PORTFOLIO

6.7.3. KEY STRENGTHS

6.7.4. KEY CHALLENGES

6.8. WARTSILA CORPORATION

6.8.1. OVERVIEW

6.8.2. PRODUCT PORTFOLIO

6.9. SIEMENS AG

6.9.1. OVERVIEW

6.9.2. PRODUCT PORTFOLIO

6.9.3. KEY STRENGTHS

6.9.4. KEY CHALLENGES

6.10. MAN ENERGY SOLUTIONS SE

6.10.1. OVERVIEW

6.10.2. PRODUCT PORTFOLIO

7. RESEARCH METHODOLOGY & SCOPE

7.1. RESEARCH SCOPE & DELIVERABLES

7.2. SOURCES OF DATA

7.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY COUNTRY OUTLOOK, 2023-2028 (IN $ MILLION)

TABLE 2: REGULATORY FRAMEWORK

TABLE 3: LIST OF COLLABORATIONS

TABLE 4: LIST OF PRODUCT LAUNCHES

TABLE 5: LIST OF MERGERS & ACQUISITIONS

TABLE 6: LIST OF BUSINESS DIVESTITURES & EXPANSIONS

TABLE 7: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY CAPACITY, 2023-2028 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY SOURCE, 2023-2028 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY COUNTRY OUTLOOK, 2023-2028 (IN $ MILLION)

List of Figures

FIGURE 1: INDUSTRY COMPONENTS

FIGURE 2: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY CAPACITY, 2022 & 2028 (IN %)

FIGURE 3: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY 0 MW- 5 MW, 2023-2028 (IN $ MILLION)

FIGURE 4: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY 5.1 MW- 20 MW, 2023-2028 (IN $ MILLION)

FIGURE 5: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY 20 MW- 100 MW, 2023-2028 (IN $ MILLION)

FIGURE 6: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY 100.1 MW- 250 MW, 2023-2028 (IN $ MILLION)

FIGURE 7: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY ABOVE 250 MW, 2023-2028 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY SOURCE, 2022 & 2028 (IN %)

FIGURE 9: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY NON-RENEWABLE POWER SOURCE, 2023-2028 (IN $ MILLION)

FIGURE 10: ASIA-PACIFIC FLOATING POWER PLANT MARKET, BY RENEWABLE POWER SOURCE, 2023-2028 (IN $ MILLION)

FIGURE 11: CHINA FLOATING POWER PLANT MARKET 2023-2028 (IN $ MILLION)

FIGURE 12: JAPAN FLOATING POWER PLANT MARKET 2023-2028 (IN $ MILLION)

FIGURE 13: INDIA FLOATING POWER PLANT MARKET 2023-2028 (IN $ MILLION)

FIGURE 14: SOUTH KOREA FLOATING POWER PLANT MARKET 2023-2028 (IN $ MILLION)

FIGURE 15: ASEAN COUNTRIES FLOATING POWER PLANT MARKET 2023-2028 (IN $ MILLION)

FIGURE 16: AUSTRALIA & NEW ZEALAND FLOATING POWER PLANT MARKET 2023-2028 (IN $ MILLION)

FIGURE 17: REST OF ASIA-PACIFIC FLOATING POWER PLANT MARKET 2023-2028 (IN $ MILLION)

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