Floating Power Plant Market Projected to reach 1,440.1 Million USD by 2022

According to the new market research report "Floating Power Plant Market by Power Source (Non-Renewable (Gas Turbines, IC Engines), Renewable (Solar Panels, Solar Floating Structure, Wind Turbines, Wind Substructure)), Capacity, and Region - Global Forecast to 2022", the global floating power plant market is expected to grow from an estimated USD 889.6 million in 2017 to USD 1,440.1 million by 2022, at a CAGR of 10.11%, from 2017 to 2022. The factors driving the market include increasing demand for power, coupled with the lack of power infrastructure, benefits over land based power plants (majorly as it eliminates the land acquisition related problems), and energy efficiency mandates and demand for clean energy (renewable energy source).

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The developments in the renewable sector, in relation with the developments of floating renewable power plants, such as the floating solar and floating wind, provides lucrative market opportunities to the OEM’s. Countries such as France, which was not so prominent in the offshore wind industry, is keen in developing its offshore wind, owing to the developments in the floating offshore wind sector. After the Fukushima Daiichi Nuclear Power Plant accident in Japan in 2011, the country is focusing on floating power plants for power generation.  This further drives the non-renewable power source segment. Countries such as China and Russia are constructing nuclear floating power plants. The products provided by companies, such as Floating Power Plant A/S (Denmark), generates energy incorporating the energy produced from wind and tidal sources that provides lucrative opportunities to the OEMs.

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The floating power plant market is segmented by power sources, capacity, and region. The renewable power source segment is estimated to be the fastest growing segment, due to the increasing demand for energy efficiency mandates and demand for clean energy (renewable energy source). However, the non-renewable segment is expected to dominate the floating power plant till 2022. This growth is majorly driven by the lack of power infrastructure coupled with the upsurge in energy demand.

The renewable power source segment is further segmented into the floating solar and wind market, on the basis of energy sources. The floating solar market is expected to grow at a faster rate due to the benefits over the land based solar installation, as it minimizes the evaporation rates, and further reduces the cost required for cooling solution. Further the floating offshore wind minimizes the problems faced by the offshore wind industry, at water depths greater than 60 meters, and, thus accounted for a higher market share in 2016. 

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The 20.1 MW to 100 MW capacity segment is estimated to be the fastest growing segment, owing to the increase in projects for floating solar and wind. The capacity segment above 250 MW is projected to dominate the floating power plant market till 2022. The market share for the above 250 MW segment is maximum, as the floating power plants which generate this amount of capacity fall under the non-renewable segment, thus accounting for a major share of the market in the capacity segment.

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The European region is expected to be the fastest growing segment of the floating power plant industry, as the European region has the highest offshore wind potential and the countries in the region are focusing on energy generation from renewable sources.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Global Smart Transformers Market - Latest Industry Trends, Growth Drivers, Volume Analysis and Demand Forecast 2022

The report "Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022", is expected to grow from an estimated USD 1.47 Billion in 2017 to USD 2.43 Billion by 2022, registering a CAGR of 10.54%, from 2017 to 2022. The global market is set to witness a significant growth due to increasing emphasis on alternative energy production across the globe, digitalization of power utilities, and huge investments in smart grids and energy systems.

                        

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The smart grid segment is expected to hold the largest share of the smart transformers market, by application, during the forecast period

The smart grid segment led the smart transformers market in 2016, and is projected to dominate the market during the forecast period. One of the biggest uses of a smart transformer in smart grids is its role in integrating power from distributed generation into the main grid. Smart grids have two-way communication for real-time monitoring and controlling of network characteristics. For this, the basic step is the implementation of smart meters for end-user interactions, followed by employing smart transformers in the network to further strengthen communications and avoid power outages. Although smart grids prevent faults and power outages, they are also equipped with self-realization characteristic that allows the network to restore to normal, once the fault is cleared. This is driving the market for smart transformers in the smart grid segment, which is expected to create new revenue pockets for the smart transformers market during the forecast period.

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66 – Tables

35 – Figures

141 – Pages

Target Audience:

·         Banks, venture capitalists, financial institutions, and other investors

·         Companies related to electric power generation, transmission, and distribution

·         Energy associations

·         Environment associations

·         Government and industry associations

·         Government and research organizations

·         Smart grid project developers

·         Smart transformer component manufacturers, dealers, and suppliers

·         State and national regulatory authorities

·         Substation equipment manufacturing companies

Distribution transformers to be the fastest growing segment in the smart transformers market

With regard to the type segment, distribution transformers are expected to constitute the fastest growing market from 2017 to 2022. Smart distribution networks require smart transformers to communicate with consumers and also for continuous load monitoring. Distribution transformers are less efficient than power transformers as they are subject to load fluctuations and the chances of failure are higher. Power distribution sometimes results in increased load above the peak limit of the equipment. Hence, the implementation of a distribution network is essential for proper load management, resulting in better power quality and less power outages.

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Asia Pacific: The leading market for smart transformers

In this report, the smart transformers market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Asia Pacific is expected to account for the largest market share in the global smart transformers market by 2022. Countries, such as China, Japan, and India are investing in grid expansion projects to increase the distribution grid reliability. China accounted for the largest share of the smart transformers market in Asia Pacific in 2016 and has the highest installed generation and distribution capacity, resulting in an increased demand for transformers. The country, which is an export-oriented economy, has witnessed an exponential growth in the demand for electricity in the past couple of decades, fueled by industrialization and infrastructural developments. Meanwhile, the Indian government is also taking initiatives to increase the power generation capacity using renewable energy sources. For instance, the country is the third-largest electricity producer in the world and is likely to generate approximately 30 GW of power from renewable energy sources in 2017. This would require grid connected as well as local distribution networks. These factors are expected to drive the growth of the smart transformers market in Asia Pacific.

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on energy storage, and other related rental markets; newsletters and databases, such as Hoover’s, Bloomberg, Businessweek, and Factiva, to identify and collect information useful for a technical, market-oriented, and commercial study of the global market. The primary sources include several industry experts from core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain. The research methodology has been explained below.

Study of annual revenues and market developments of the major players providing smart transformers

·         Assessment of future trends and growth of end-users

·         Assessment of the market with respect to the technology used for different applications

After arriving at the overall market size, the total market was split into several segments and sub-segments. The figure given below illustrates the breakdown of primary interviews conducted during the research study based on company type, designation, and region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
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USA : 1-888-600-6441
sales@marketsandmarkets.com

Hybrid Power Solutions Market – Market Upcoming Trend by Worldwide Industry Growth, Statistics, and Opportunities: SMA Solar Technology AG, Siemens AG and Huawei Technologies Co. LTD.

The global hybrid power solutions market is projected to grow at a CAGR of 8.1% from 2016 to 2021. The Middle East & Africa region is estimated to be the largest market, followed by Asia-Pacific; the trend is expected to continue till 2021. The growth of the hybrid power solutions market is driven by growth in hybrid power generation in off-grid sites; reliable power generation with minimized fuel, reduced operation, and maintenance cost; and reduction in carbon emission.

Browse 68 Market Data Tables and 47 Figures spread through 131 Pages and in-depth TOC on"Hybrid Power Solutions Market by System Type (Solar-Diesel, Wind-Diesel, Solar-Wind-Diesel), Power Rating (Upto 10 kW, 11 kW–100 kW, and Above 100 kW), End-User (Residential, Commercial, Telecom), and Region - Global Forecast to 2021"

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The hybrid power solutions market is dominated by a few global players. Some of the key players operating in the hybrid power solutions market are SMA Solar Technology AG (Germany), Siemens AG (Germany), Huawei Technologies Co., LTD (China), ZTE Corporation (China), Flexenclosure AB, LTD (Sweden), and Heliocentris Energy Solutions AG (Germany), among others.

Key strategies adopted by players in the hybrid power solutions market include contracts & agreements, new product developments/launches, mergers & acquisitions, partnerships, joint ventures, collaborations, and expansions. Contracts & agreements was the most commonly used strategy, constituting 65% of the total developments from 2013 to 2016. Industry players also widely adopted the strategy of new product developments/launches during the same period.

SMA Solar Technology AG is a subsidiary of the SMA Group. SMA provides innovative PV diesel hybrid solutions to meet the energy demand and supply efficient power to home, rural areas, and industries. The company is focusing on availing international growth opportunities, and hence, is continuously developing new photovoltaic products and enhancing its existing products. It has added many new hybrid power solutions to widen its product portfolio and provide solutions for both residential and commercial customers. SMA has installed PV diesel hybrid system in countries such as India, Lebanon, and Kingdom of Tonga. The company has huge opportunity in exploring Africa and the Middle East region for its PV diesel hybrid solutions, as these regions are the fastest growing markets for telecommunications. In late 2015, SMA America partnered with Farm from a Box to develop an off-grid toolkit for food production. The toolkit comprised 10 high-efficiency solar modules, an SMA Sunny Island 6048-US off-grid inverter, SMA Sunny Boy 3000TL-US inverter with Secure Power Supply, SMA Sunny Web Box remote monitoring solution, SMA Smart former transformer and distribution box, and deep-cycle batteries for energy storage. The array is supported by a 3,000-watt generator.

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Siemens AG provides hybrid power solutions as a part of renewable energy under its energy business vertical. The company provides technology-based solutions depending upon load and locally available renewable resources (wind or solar) and economical, reliable, and environmental energy. Siemens partnered with other hybrid solutions provider such as Danvest, which would help the company to explore more markets and industries. Recent partnership with Danvest helped Siemens to explore the mining industry market which is a potential market for hybrid power solutions. The company’s “one stop shop” would help clients to meet their energy requirements. In 2015, Siemens partnered with Danvest Energy and Eurus Energy to provide hybrid power solutions to the Australian mining industry. This project was worth USD 300 million and generated 30 MW power for mine sites.