Diverse Global Players Dominate the Market Holding ~60% of Revenue Share Despite Presence of ~100 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on Europe Floating Power Plant Market by Ken Research.
A Floating Power Plant (FPP) is a power generation unit that is located on a platform, floating on a water body. Mostly the remote power generator is located on an existing cargo ship. They are self-driven and can be connected to the grid, whenever required. There can be stationary floating platform power plants, which can be established in lakes or shallow waters near seashores and these floating power plants can be either solar energy or wind energy based. Floating Power Plants can be used as primary power sources as well as secondary power sources by public utilities, independent power producers, offshore oil/gas explorers and other industries. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
Global Players that Constitute 20% of the Total Number of Competitors Hold the Largest Revenue Share of 60% While Regional Companies Also Have a Strong Presence
A comprehensive competitive analysis conducted during the Research Study found that the Europe Floating Power Plant market is highly competitive with ~100 players which include globally diversified players, regional players as well as country-niche players having their own niche in Floating Power Plants for specific segments. The large global players comprise about 40% in terms of the number of companies and hold ~60% of the market revenue share followed by regional players which account for ~30% of the market revenue. Most of the country-niche players are renewable energy and equipment suppliers. Some of these who successfully evolve to create application-specific solutions often get acquired by large global players seeking to grow and diversify quickly.
Leading Global Players’ Ongoing Efforts To Provide Advanced Floating Power Plant Solution To End User Segments Are Driving Their Revenue Growth From This Market
Detailed comparative analysis of key competitors available within the Research Study shows that global players such as General Electric, Siemens, Principle Power Inc., and Vestas are highly focused on providing a significant number of floating power plant components and technologies that can be used across multiple industries, public utilities, and independent power producers. Furthermore, several companies and organizations are aggressively investing in R&D to use off-grid technology more and to upgrade the Floating Power Plants’ power production capacity.
- In May 2021, GE researchers unveiled that it is partnering with Glosten to design and develop advanced controls to support a 12 MW floating offshore wind turbine. This will lead the floating offshore wind industry toward becoming a commercially viable solution.
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The Ongoing COVID-19 Pandemic Led to A Significant Reduction in Floating Power Plant Projects Commissioning. However, with the Reducing Impact of Pandemic since early 2022, Major Players are trying to Gain Momentum by Developing New Products and Solutions
Ciel et Terre has unveiled a new rough-water floater and another rigid platform that maximizes the number of solar panels per square meter. This product will add value to the product portfolio of Ciel et Terre. General Electric researchers unveiled that it is partnering with Glosten to design and develop advanced controls to support a 12 MW floating offshore wind turbine. This will lead the floating offshore wind industry toward becoming a commercially viable solution.
Increased Regulations of Governments to Become Carbon Neutral and Major Players’ Interest in Floating Power Plant Market Led to Industry-Wide Developments, Acquisitions, and Deal-Wins
- In December 2019, European Green Deal was launched. According to this deal, the European Commission adopted a set of proposals to make the EU’s climate, energy, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.
- In June 2021, Siemens Gamesa and Siemens Energy have signed a Memorandum of Agreement (MoU) with Odfjell Oceanwind to collaborate on the development of Mobile Offshore Wind Units. This will be highly beneficial for oil and gas installations in oceans as they will be provided power till they continue their production activities.
- In August 2021, Ciel et Terre has formed a joint venture with BlueWave Solar, through its subsidiary Laketricity to deliver floating solar projects outside Europe.
- In Nov 2021, Ocean Winds (a joint venture between ENGIE and EDP Renewables) and Principle Power have entered into a collaboration to work on the design of the floating platforms for France’s first commercial-scale floating wind tender.
- In June 2022, Wärtsilä released the news that it will partner with low carbon energy company SSE to deliver a 50 MW / 100 MWh energy storage system to help unlock the UK’s path towards net zero.
- In December 2019, European Green Deal was launched. According to this deal the European Commission adopted a set of proposals to make the EU’s climate, energy, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.
Key Topics Covered in the Report: –
- Snapshot of Europe Floating Power Plant Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Europe Floating Power Plant Market
- Historic Growth of Overall Europe Floating Power Plant Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Europe Floating Power Plant Industry
- Overview, Product Offerings of Key Competitors
- Covid 19 Impact on Overall Europe Floating Power Plant Market
- Future Market Forecast and Growth Rates of Total Europe Floating Power Plant Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Floating Power Plant Market in Major European Countries
- Major Production / Consumption Hubs in the Major European Countries
- Major Production/Supply and Consumption/Demand Hubs in Each Major Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country.
Major Companies Profiled in the Report
- General Electric
- Siemens
- Ciel et Terre International
- Principle Power Inc.
- Man Energy Solutions SE
- BW Ideol
- SeaTwirl
- Floating Power Plant A/S
- Wärtsilä
- Mitsubishi Heavy Industries
- Caterpillar
- Vestas
Notable Emerging Companies Mentioned in the Report
- EWE AG
- HOCHTIEF Solutions
- Hydrosolar
- SSE plc.
- Bretagne Ocean Power
- HelioRec
- Hexicon
- Flowocean AB
- Saitec Offshore
- Greenalia
- Floating Energy
- Floating Solar BV
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Floating Power Plant Manufacturers / Assemblers
- Companies Manufacturing Components and Modules for Floating Power Plants
- Renewable Energy Providers
- Ministries of Energy and Power Generation
- Ministries of Energy and Power Distribution
- Environment Control and Emission Regulatory Organizations
- Consulting companies in the energy and power sector
- Electrical infrastructure providers
- Electric utilities
- Environmental and regional solar power associations
- Gas turbine and IC engine manufacturers
- Government and research organizations
- Investment banks
- Investors and financial community professionals
- Public and private operators of power barges and power ships
- Solar floating solution manufacturers
- Solar panel manufacturers
- Wind farm owners, operators, and developers
- Wind sub-structure manufacturers
- Wind turbine manufacturers
- Renewable Energy Research Organizations
- Investment Funds
- Independent Power Producers (IPP)
- Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2027F
For More Information on the Research Report, refer to below links: –
Europe Floating Power Plant Market Future Outlook
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249