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According to Technavio's latest market research report, the global floating power plant market is expected to grow at a CAGR of nearly 4%
during the period 2018-2022.
The key factor driving the growth of the market is the demand for
alternative power solutions.
Typically, electricity is obtained
through the grid.
However, if a power plant breaks down or the power plant cannot meet the full load, it can affect the operation
of critical facilities such as hospitals, schools, and businesses.
In this case, floating power stations will be used to supply power
to the affected area, or to specific facilities that require electricity.
The report believes that hybrid floating solar power plants will become one of the
main emerging trends of global floating power plants.
While floating solar plants face intermittent problems, they can be solved
by combining another renewable energy system with a floating solar plant.
Therefore, hybrid floating solar power plants came into being
.
In 2017, the non-renewable market accounted for the largest market share, accounting for nearly 87%
of the market share.
This segment is expected to dominate the global floating power station market
throughout the forecast period.
Regionally, EMEA led the global market in 2017 with a market share of nearly 45% and is expected to decline by nearly 2%
in 2018-2022.
"Most companies around the world are jumping on this trend by combining
hybrid floating solar power plants with wind turbines or hydroelectric dam power generation facilities.
In addition, hybrid floating solar plants have lower operating costs than traditional solar power technologies," said
a senior analyst at Technavio.
According to Technavio's latest market research report, the global floating power plant market is expected to grow at a CAGR of nearly 4%
during the period 2018-2022.
The key factor driving the growth of the market is the demand for
alternative power solutions.
Typically, electricity is obtained
through the grid.
However, if a power plant breaks down or the power plant cannot meet the full load, it can affect the operation
of critical facilities such as hospitals, schools, and businesses.
In this case, floating power stations will be used to supply power
to the affected area, or to specific facilities that require electricity.
The report believes that hybrid floating solar power plants will become one of the
main emerging trends of global floating power plants.
While floating solar plants face intermittent problems, they can be solved
by combining another renewable energy system with a floating solar plant.
Therefore, hybrid floating solar power plants came into being
.
In 2017, the non-renewable market accounted for the largest market share, accounting for nearly 87%
of the market share.
This segment is expected to dominate the global floating power station market
throughout the forecast period.
Regionally, EMEA led the global market in 2017 with a market share of nearly 45% and is expected to decline by nearly 2%
in 2018-2022.
"Most companies around the world are jumping on this trend by combining
hybrid floating solar power plants with wind turbines or hydroelectric dam power generation facilities.
In addition, hybrid floating solar plants have lower operating costs than traditional solar power technologies," said
a senior analyst at Technavio.
