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CHINA FLOATING POWER PLANT MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

China Floating Power Plant Market by Source (Renewable Power Source, Non-renewable Power Source) Market by Capacity (0 MW – 5 MW, 5.1 MW – 20 MW, 20.1 MW – 100 MW, 100.1 MW – 250 MW, Above 250 MW)

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MARKET OVERVIEW

The China floating power plant market is projected to develop at a CAGR of 11.02% over the forecast period of 2024-2032, reaching a revenue of $3870.55 million by 2032. 

China’s floating power plant market is growing rapidly, fueled by the nation’s commitment to sustainable energy solutions and its large coastline and river networks, which make it ideal for such developments. Floating power plants, particularly floating solar farms, have gained traction in China as they offer a solution for densely populated areas where land is scarce and often expensive. By using bodies of water, these plants reduce land use conflicts and capitalize on China’s many lakes, reservoirs, and coastal regions. This approach is especially beneficial in areas with fluctuating water levels or where traditional power plant infrastructure might be impractical. The adoption of floating solar power, in particular, aligns with China’s ambitious carbon reduction goals and clean energy transition plans.

Additionally, the government’s strong support for renewable energy and technological innovation has propelled the market’s development. Financial incentives, subsidies, and policy support have encouraged both state-owned and private enterprises to invest in floating power plant technology. Projects like the 320 MW floating solar farm in Anhui Province demonstrate China’s capability and commitment to scaling up this technology. Other types of floating power plants, including offshore wind, have also attracted interest, leveraging China’s advancements in wind turbine technology and infrastructure to explore offshore floating wind farms, which are more flexible and less impacted by land use restrictions compared to onshore installations.

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Challenges remain, however, particularly in terms of technological and environmental concerns. Floating power plants need to withstand environmental stressors such as typhoons, high waves, and seasonal weather variations. Furthermore, the ecological impact on aquatic ecosystems and potential risks to local fisheries need to be carefully managed to avoid adverse effects. As the market matures, these challenges are increasingly being addressed through innovations in materials, anchoring techniques, and environmental monitoring, further positioning China as a global leader in the floating power plant market.

The China floating power plant market segmentation incorporates the market by source and capacity. The capacity segment is further bifurcated 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 China Floating Power Plant Market: 11.02% CAGR (2024-2032)

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The 0 MW – 5 MW sub-segment primarily serves smaller-scale applications, such as providing off-grid electricity for remote areas or meeting temporary power needs for events and emergencies. This category frequently integrates renewable energy sources, including solar and wind, to deliver sustainable solutions in environmentally sensitive areas.

In the 5.1 MW – 20 MW range, floating power plants address larger energy needs across various industrial and commercial sectors. These plants play a key role in decentralized energy generation, supporting regional grids and enhancing energy security. Floating power plants with capacities from 20.1 MW to 100 MW make a substantial contribution to the energy infrastructure. They provide electricity to residential areas, urban centers, and industrial complexes, bolstering the capacity of the national power grid. These plants often utilize advanced technologies for efficient, sustainable energy production, aligning with stringent regulatory standards.

In the 100.1 MW – 250 MW range, floating power plants are significant installations designed to meet the high energy demands of large cities or extensive industrial operations. They achieve economies of scale to optimize energy output while complying with strict environmental regulations. At capacities above 250 MW, these mega-installations are built for high-efficiency power generation and often incorporate innovative technologies such as floating solar arrays or hybrid systems combining wind and hydroelectric power. Strategically deployed, they enhance energy independence and resilience, significantly contributing to national as well as regional energy objectives.

Some of the leading players in the China floating power plant market include Mitsubishi Corporation, Siemens AG, Upsolar Group Co Ltd, etc.

Siemens AG is a leading global technology company specializing in electrification, automation, and digitalization. Its expertise encompasses automation and digitalization solutions for manufacturing and process industries, advanced infrastructure for buildings and distributed energy systems, and power generation and distribution, covering both conventional and renewable sources. Siemens operates through three primary divisions: Digital Industries, Smart Infrastructure, and Gas & Power.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Source and Capacity
Countries AnalyzedChina
Companies AnalyzedGeneral Electric, Kyocera Corporation, MAN Energy Solutions SE, Mitsubishi Corporation, Siemens AG, Upsolar Group Co Ltd, Vikram Solar Limited, Wartsila Corporation

TABLE OF CONTENTS

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT
    3. COUNTRY ANALYSIS 
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON THE CHINA FLOATING POWER PLANT MARKET
    6. MAJOR MARKET FINDINGS
      1. GROWING NUMBER OF RENEWABLE ENERGY PROJECTS 
      2. RISE IN TREND FOR OFFSHORE WIND PROJECT
      3. NON-RENEWABLE ENERGY SOURCES ARE THE PREDOMINANT TYPE USED IN FLOATING POWER PLANTS
      4. CAPACITY RANGE OF 20.1 MW TO 100 MW IS EXPERIENCING THE FASTEST GROWTH
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. SURGING DEMAND FOR CLEAN ENERGY TO DRIVE MARKET GROWTH
      2. GOVERNMENT INVESTMENTS IN THE ENERGY INDUSTRY BOOST MARKET DEMAND
    2. KEY RESTRAINTS
      1. HIGH PROJECT COSTS HINDER MARKET GROWTH
      2. TECHNICAL CHALLENGES INVOLVED IN FLOATING POWER PLANTS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. POPULARITY OF INTERNAL COMBUSTION (IC) ENGINE-BASED FLOATING POWER PLANTS
      2. RISE IN THE INSTALLATION OF NEW POWER PLANTS
      3. TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR CHINA
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. VALUE CHAIN ANALYSIS
      1. RAW MATERIALS & COMPONENT SUPPLIERS
      2. ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)
      3. ENGINEERING, PROCUREMENT, AND CONSTRUCTION (EPC) COMPANIES & DEVELOPERS 
    7. KEY BUYING CRITERIA
      1. TECHNOLOGICAL RELIABILITY AND EFFICIENCY 
      2. COST-EFFECTIVENESS
      3. EASE OF INSTALLATION AND DEPLOYMENT
      4. REPUTATION AND TRACK RECORD OF THE SUPPLIER OR MANUFACTURER
  5. MARKET BY SOURCE
    1. RENEWABLE POWER SOURCE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. NON-RENEWABLE POWER SOURCE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY CAPACITY
    1. 0 MW – 5 MW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. 5.1 MW – 20 MW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. 20.1 MW – 100 MW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. 100.1 MW – 250 MW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. ABOVE 250 MW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. GENERAL ELECTRIC
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      2. KYOCERA CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      3. MAN ENERGY SOLUTIONS SE
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      4. MITSUBISHI CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      5. SIEMENS AG
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      6. UPSOLAR GROUP CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      7. VIKRAM SOLAR LIMITED
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      8. WARTSILA CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – FLOATING POWER PLANT

TABLE 2: CHINA FLOATING POWER PLANT MARKET, BY SOURCE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: CHINA FLOATING POWER PLANT MARKET, BY SOURCE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 4: CHINA FLOATING POWER PLANT MARKET, BY CAPACITY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: CHINA FLOATING POWER PLANT MARKET, BY CAPACITY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 6: LIST OF MERGERS & ACQUISITIONS

TABLE 7: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 8: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 9: 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 CHINA

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: VALUE CHAIN ANALYSIS

FIGURE 7: KEY BUYING CRITERIA

FIGURE 8: CHINA FLOATING POWER PLANT MARKET, GROWTH POTENTIAL, BY SOURCE, IN 2023

FIGURE 9: CHINA FLOATING POWER PLANT MARKET, BY RENEWABLE POWER SOURCE, 2024-2032 (IN $ MILLION)

FIGURE 10: CHINA FLOATING POWER PLANT MARKET, BY NON-RENEWABLE POWER SOURCE, 2024-2032 (IN $ MILLION)

FIGURE 11: CHINA FLOATING POWER PLANT MARKET, GROWTH POTENTIAL, BY CAPACITY, IN 2023

FIGURE 12: CHINA FLOATING POWER PLANT MARKET, BY 0 MW – 5 MW, 2024-2032 (IN $ MILLION)

FIGURE 13: CHINA FLOATING POWER PLANT MARKET, BY 5.1 MW – 20 MW, 2024-2032 (IN $ MILLION)

FIGURE 14: CHINA FLOATING POWER PLANT MARKET, BY 20.1 MW – 100 MW, 2024-2032 (IN $ MILLION)

FIGURE 15: CHINA FLOATING POWER PLANT MARKET, BY 100.1 MW – 250 MW, 2024-2032 (IN $ MILLION)

FIGURE 16: CHINA FLOATING POWER PLANT MARKET, BY ABOVE 250 MW, 2024-2032 (IN $ MILLION)

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