According to the research report titled ‘GLOBAL Floating Power Plant Market 2019-2027’, available with Market Study Report, global floating power plant market is speculated to grow at an annual rate of 10.08% between 2019-2027.
 

Rising interest in clean energy, escalating demand for power generation, and limited availability of land are key factors driving global floating power plant market growth. Moreover, advancements in drifting wind farms will create lucrative expansion prospects for the market over the analysis timeframe.
 

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On the other hand, coordination and availability problems, high cost of transportation, harsh climate conditions, and difficulty in setting up power plants in water will hinder the expansion of global floating power plant industry in the upcoming years.
 

The research document studies the marketplace at a granular level, in order to provide thorough understanding of the industry dynamics to the readers, as well as to unveil dormant profit opportunities.
 

Based on source, worldwide floating power plant market is bifurcated into renewable power source, and non-renewable power source. Speaking of capacity, the industry is divided into 0MW-5MW, 5.1MW-20MW, 20.1MW-100MW, 100.1MW-250MW, and above 250 MW.
 

From regional frame of reference, Asia Pacific floating power plant industry is projected to expand rapidly through 2027, due to rapid increase in population, and limited availability of land for constructing power plants.
 

Meanwhile, Europe market is touted to record the highest developmental rate between 2019-2027, cites the report. Also, North America and Middle East & Africa are witnessing high demand for power, which along with favorable geographical and environmental conditions, and mechanical advancements are responsible for industry expansion.
 

Leading companies influencing global floating power plant industry dynamics are Siemens AG, MAN Energy Solutions SE, Mitsubishi Motors Corporation, Upsolar Global Co. Ltd., SeaTwirl AB, Vikram Solar Limited, BW Ideol S.A., Caterpillar Inc., Principle Power Inc., Ciel & Terre International, General Electric Company, Kyocera Corporation, Floating Power Plant A/S, Wärtsilä Oyj Abp, and Yingli Green Energy Holding Company Limited.