Global Floating Power Plant Market 2019: Industry Analysis Research Report

Posted by Abhijeet Bendre on March 18th, 2019

Floating Power Plant Market Research Report - Forecast To 2023. Global Floating Power Plant Market Information Report: Information by Power Source (Renewable and Non-Renewable) Capacity (0-50 MW, 6-20 MW, 21-100 MW, 101-250 MW, above 250 MW) And by Region - Global Forecast to 2023.

Market Overview:

The key players of the global Floating Power Plant market are Lorentz (Germany), SunEdison, Inc. (U.S.), CRI Pumps Pvt. Ltd (India), Solar Power & Pump Co LLC (U.S.), Tata Power Solar Systems Ltd. (India), Shakti Solar Pumping System (India), WENLING JINTAI PUMP FACTORY (China), Bright Solar Pvt. Ltd. (India), Grundfos (Denmark) and American West Windmill and Solar Company (U.S.).

A Solar Water Pump is a device, which runs on the electricity generated by photovoltaic panels. Floating Power Plant are not connected with the grid and result in very less emission compared to conventional pumps. Floating Power Plant are increasingly used in regions where grid electricity is unavailable and alternative sources such as wind do not provide enough power for operations.  Solar pump components consists of solar panels, a controller and a pump while the size of the PV system determines the operating capacity of the pump. 

Solar pumps are increasingly being used in domestic and agriculture applications, especially for delivering drinking water for livestock and irrigation. Also, Floating Power Plant are used in oil and gas fracking activities to reduce the environmental impact of the oil recovery process.

The Floating Power Plant Market is expected to grow at a CAGR of 5.6% during the forecast period.         

Global Floating Power Plant Market:

The global Floating Power Plant market is driven by the increased agriculture activities along with the increase in use of water for water based agricultural practices. The Asia-Pacific region is the leading market for Floating Power Plant. Rapid agriculture activities in countries such as China, India, Bangladesh and Pakistan and reduced grid connectivity for agricultural activities, drive the market for Floating Power Plant in these countries. Furthermore, increased need for clean water for drinking and irrigation in countries such as Morocco, Nigeria, Namibia and Kenya, in the African region, is also driving the need for the solar pumps in the region. The UN development programs to promote the use of solar energy in the region, is also driving the market.

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