China Floating Power Plant Market Forecast 2023-2028
KEY FINDINGS
The China floating power plant market is expected to increase with an 11.67% CAGR by the forecast period 2023-2028. China’s market is driven by ongoing construction projects, innovative wind farm designs, and ambitious capacity targets set by various provinces.
MARKET INSIGHTS
In May 2022, China National Offshore Oil Corporation (CNOOC) initiated the construction of an extensive offshore floating wind power platform in Hainan Province. Further, upcoming projects like this are expected to propel China’s floating offshore wind energy market during the forecast period. In November 2021, China Three Gorges Corporation (CTG) commissioned the Yangjiang Shapa Phase 2 offshore wind farm in Guangdong Province, boasting a 400 MW capacity. The project will supply electricity to the Guangdong-Hong Kong-Macao Greater Bay Area and generate approximately 1.088 TWh annually. The wind farm also features the world’s first floating wind turbine connected to a fixed-bottom turbine for electricity transmission.
Several Chinese provinces have set targets to expand floating power plants. Guangdong aims to construct 30 GW of offshore wind power, including floating offshore wind power, by 2030, followed by Jiangsu (15 GW), Zhejiang (6.5 GW), and Fujian (5 GW). Other provinces have also established targets and offshore wind development plans, likely driving the floating offshore wind energy sector during the forecast period.
COMPETITIVE INSIGHTS
Key market players include Mitsubishi Corporation, Kyocera Corporation, Upsolar Global Co Ltd, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Methodology
- 1.3. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Country Snapshot
- 2.3. Country Analysis
- 2.4. Scope Of Study
- 2.5. Crisis Scenario Analysis
- 2.5.1. Impact Of Covid-19 On Floating Power Plant Market
- 2.6. Major Market Findings
- 2.6.1. Growing Number Of Renewable Energy Projects
- 2.6.2. Rise In Trend For Offshore Wind Project
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Surging Demand For Clean Energy
- 3.1.2. Government Investments In The Energy Industry
- 3.2. Key Restraints
- 3.2.1. High Project Costs
- 3.2.2. Technical Challenges Involved In Floating Power Plants
- 4. Key Analytics
- 4.1. Assessment Of Ship-based Floating Power Plants
- 4.1.1. Developments Related To Ship-based Floating Power Plants
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Market Concentration Analysis
- 4.5. Value Chain Analysis
- 4.5.1. Raw Materials & Component Suppliers
- 4.5.2. Oems
- 4.5.3. Epc Companies & Developers
- 5. Market By Source
- 5.1. Renewable Power Source
- 5.1.1. Market Forecast Figure
- 5.1.2. Segment Analysis
- 5.2. Non-renewable Power Source
- 5.2.1. Market Forecast Figure
- 5.2.2. Segment Analysis
- 6. Market By Capacity
- 6.1. 0 Mw- 5 Mw
- 6.1.1. Market Forecast Figure
- 6.1.2. Segment Analysis
- 6.2. 5.1 Mw- 20 Mw
- 6.2.1. Market Forecast Figure
- 6.2.2. Segment Analysis
- 6.3. 20.1 Mw- 100 Mw
- 6.3.1. Market Forecast Figure
- 6.3.2. Segment Analysis
- 6.4. 100.1 Mw- 250 Mw
- 6.4.1. Market Forecast Figure
- 6.4.2. Segment Analysis
- 6.5. Above 250 Mw
- 6.5.1. Market Forecast Figure
- 6.5.2. Segment Analysis
- 7. Competitive Landscape
- 7.1. Key Strategic Developments
- 7.1.1. Mergers & Acquisitions
- 7.1.2. Product Launches & Developments
- 7.1.3. Partnerships & Agreements
- 7.1.4. Business Expansions & Divestitures
- 7.2. Company Profiles
- 7.2.1. Bw Ideol
- 7.2.1.1. Company Overview
- 7.2.1.2. Products List
- 7.2.2. Caterpillar Inc
- 7.2.2.1. Company Overview
- 7.2.2.2. Products List
- 7.2.2.3. Strengths & Challenges
- 7.2.3. Ciel & Terre International
- 7.2.3.1. Company Overview
- 7.2.3.2. Products List
- 7.2.3.3. Strengths & Challenges
- 7.2.4. Floating Power Plant A/S
- 7.2.4.1. Company Overview
- 7.2.4.2. Products List
- 7.2.4.3. Strengths & Challenges
- 7.2.5. General Electric
- 7.2.5.1. Company Overview
- 7.2.5.2. Products List
- 7.2.6. Karpowership
- 7.2.6.1. Company Overview
- 7.2.6.2. Products List
- 7.2.7. Kyocera Corporation
- 7.2.7.1. Company Overview
- 7.2.7.2. Products List
- 7.2.7.3. Strengths & Challenges
- 7.2.8. Man Energy Solutions Se
- 7.2.8.1. Company Overview
- 7.2.8.2. Products List
- 7.2.9. Mitsubishi Corporation
- 7.2.9.1. Company Overview
- 7.2.9.2. Products List
- 7.2.9.3. Strengths & Challenges
- 7.2.10. Seatwirl Ab
- 7.2.10.1. Company Overview
- 7.2.10.2. Products List
- 7.2.10.3. Strengths & Challenges
- 7.2.11. Siemens Ag
- 7.2.11.1. Company Overview
- 7.2.11.2. Products List
- 7.2.11.3. Strengths & Challenges
- 7.2.12. Upsolar Group Co Ltd
- 7.2.12.1. Company Overview
- 7.2.12.2. Products List
- 7.2.12.3. Strengths & Challenges
- 7.2.13. Vikram Solar Limited
- 7.2.13.1. Company Overview
- 7.2.13.2. Products List
- 7.2.13.3. Strengths & Challenges
- 7.2.14. Wartsila Corporation
- 7.2.14.1. Company Overview
- 7.2.14.2. Products List
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