The global floating power station market will grow at a compound annual rate of about 6.5% in the next decade

According to Transparency Market Research (TMR), the global floating power plant market is estimated to grow at a CAGR of 6.
5% from 2020 to 2030, and its market size will reach $565 billion
by 2030.

This is due to numerous factors, including increased investment in the development of floating power stations, increased demand for clean energy, and floating power stations as a distributed power source, with high efficiency and stability characteristics make them more and more favored
by users.

Floating power supplies are able to cope with sharp load fluctuations and provide fast start-up
.
Towed and suitable for seasonal and periodic operation, these plants provide a stable grid
for a variety of renewable energy sources.

Due to the large-scale demand for electricity in countries such as China, India, Singapore, and Malaysia, the installation of floating power plants in end-use industries, especially in the Asia-Pacific region, is increasing
.
China dominated the floating power plant market
in the Asia-Pacific region in 2019.
The floating power plant market in Europe is likely to expand further during
the forecast period.
To meet the growth in electricity demand, increasing investments in renewable energy are the major factors
driving the growth of floating power plants in the region.

Population growth and rapid infrastructure development will also drive the floating power station market during the forecast period
.
For example, in January 2020, the Thai Power Generation Authority announced an EPC contract with B.
Grimm Power to build a hydro and solar hybrid floating power station
on the EGAT dam.

At the same time, the implementation of strict government environmental regulations is expected to facilitate the deployment
of floating power plants in multiple end-use industries around the world.
Solar, wind and wave energy are three commonly used renewable energy sources
in floating power plants.

From the perspective of platform material, many end-use industries are installing HDPE plastic floating platforms
.
These platforms are eco-friendly and not dangerous
to aquatic animals.
Such advances have encouraged some manufacturers to sign up for new projects to build floating power stations in the mid-power
range.

Major end-use industries, such as healthcare, manufacturing, chemicals, and construction and construction, are growing
rapidly across the globe.
This expansion in the end-use industry can be attributed to the increasing demand for clean energy, which in turn is driving the floating power station market
.

In terms of power sources, wind energy dominated the global floating power station market
in 2019.
The segment is expected to grow
at a CAGR of 6.
7% between 2020 and 2030.