NORTH AMERICA FLOATING POWER PLANT MARKET 2023-2028

Energy, Power & Utilities | Power

NORTH AMERICA FLOATING POWER PLANT MARKET 2023-2028

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

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Triton Market Research’s report indicates that the floating power plant market in North America is anticipated to progress with a compound annual growth rate of 11.22% during the forecasting years 2023-2028.




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The countries explored in the region are:

•         United States

•         Canada

Several initiatives by the national and state governments to promote solar energy are majorly driving the market’s potential in the region. For instance, the Solar Powering American Program is an interagency initiative between the US Department of Energy, Agriculture (USDA), Housing and Urban Development, and EPA. Similarly, several programs have been initiated in Canada to expand the commercial application of renewable energy sources to reduce GHG emissions. These steps are anticipated to augment the establishment of floating plants, simultaneously fueling the market.

The United States holds the highest share of the market. The floating power plant sector is considered a major development area due to the availability of large coastal areas. The nation ranks the second-largest in terms of total installed wind energy capacity. In this regard, in 2021, the net power generation via wind power reached around 379.77 billion kilowatt-hours, powering more than 10 states. Such developments are expected to support the establishment of more floating energy plants.

Further, California hosts the largest floating solar farm at Healdsburg’s wastewater treatment plant. It consists of 11,600 solar panels with a capacity of 4.8 MW, meeting significant power needs. Additionally, the panels serve as a protective barrier for the water, reducing the loss of water via evaporation. This plant provides around 48% of the city’s electricity via renewable sources. Hence, these factors boost the floating power plant market’s growth immensely across the US.

20 MW- 100 MW capacity power plants generate energy via various renewable and non-renewable sources. However, they are mostly based on renewable sources, including solar and wind. Easy relocation, clean energy production, and secure grid supply are some of the key benefits. This segment’s growth is mostly based on the expansion of solar and wind-based power plant projects, which are anticipated to soar over the forecast period. The reviewed market is categorized into capacity and source. The capacity section further includes 20 MW-100 MW, 100.1 MW-250 MW, 0 MW-5 MW, 5.1 MW-20 MW, and above 250 MW.

The leading companies in the market include Caterpillar Inc, Floating Power Plant AS, SeaTwirl AB, and Upsolar Group Co Ltd.

Caterpillar Inc is a manufacturer of energy equipment, construction, and transportation. It manufactures and markets industrial gas turbines, mining equipment, and natural gas engines, among others. Its portfolio also includes asphalt pavers, compactors, draglines, and integrated systems. Caterpillar offers retail and wholesale financing solutions to customers and dealers. The company operates through various subsidiaries across multiple regions. It is headquartered in Illinois, the United States.

 

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 North America 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 NA floating power plant market’s growth during the upcoming years

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Table of Content

1. NORTH AMERICA 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. NORTH AMERICA 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. NORTH AMERICA FLOATING POWER PLANT MARKET – BY SOURCE

4.1. NON-RENEWABLE POWER SOURCE

4.2. RENEWABLE POWER SOURCE

5. NORTH AMERICA FLOATING POWER PLANT MARKET – BY COUNTRY OUTLOOK

5.1. UNITED STATES

5.1.1. UNITED STATES FLOATING POWER PLANT MARKET FORECAST & PROSPECTS

5.2. CANADA

5.2.1. CANADA 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

6.8.3. KEY STRENGTHS

6.8.4. KEY CHALLENGES

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: NORTH AMERICA 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: NORTH AMERICA FLOATING POWER PLANT MARKET, BY CAPACITY, 2023-2028 (IN $ MILLION)

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

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

List of Figures

FIGURE 1: INDUSTRY COMPONENTS

FIGURE 2: NORTH AMERICA FLOATING POWER PLANT MARKET, BY CAPACITY, 2022 & 2028 (IN %)

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

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

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

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

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

FIGURE 8: NORTH AMERICA FLOATING POWER PLANT MARKET, BY SOURCE, 2022 & 2028 (IN %)

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

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

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

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

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