All Reports
3Q 2022

Floating Power Plants

Offshore Floating Technologies, Market Barriers, Market Drivers, Forecasts, and Analysis

In an effort to accelerate decarbonization on a global scale, the world is undergoing a rapid transformation to accommodate additional renewable energy (RE) technologies, which are playing a critical role in achieving a low carbon future and providing countries with energy security. With RE technology facing land scarcity and grid integration challenges—apart from power grid accessibility issues on some islands—two important considerations are land use and the RE source’s footprint. The emergence of offshore technologies was a game changer for the power sector, but deep-water constraints have limited the potential for using offshore resources to their fullest. Innovations in floating technologies are overcoming this challenge and pushing RE’s boundaries further offshore.

This Guidehouse Insights report provides a market forecast for two floating power plant technologies: floating solar PV (FSPV) and offshore floating wind (OFW). It also examines the major drivers and barriers for the floating power plant (FPP) market. The forecasts are segmented into five global regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) for the 10-year period from 2022 through 2031.

Pages 38
Tables | Charts | Figures 27
  • What is driving the global emergence of the FPP market?
  • What are the major components of FSPV technology?
  • What are the major components of OFW technology?
  • What are the major market drivers for the FSPV and OFW markets?
  • What are the market barriers to the FSPV and OFW markets?
  • How does the FPP market vary by region?
  • What are the major recommendations for various FPP stakeholders?
  • Manufacturers of floating solar and wind technologies
  • O&G companies
  • Hydrogen producers
  • Utilities
  • Regulators
  • University researchers
  • Investor community

1. Executive Summary

1.1   Emerging Need for Floating Power Plants

1.2   Global Outlook

2. Market Issues

2.1   The Emergence of Floating Power Plants

2.2   FSPV Technologies

2.2.1   Pure Floats

2.2.2   Pontoons and Metal Frames

2.2.3   Membranes and Mats

2.2.4   Anchoring and Mooring Systems

2.2.4.1   Bank Anchoring

2.2.4.2   Bottom Anchoring

2.2.4.3   Piles

2.3   OFW Technologies

2.3.1   Spar-buoy

2.3.2   Semi-submersible

2.3.3   Tension Leg Platforms

2.3.4   Anchoring and Mooring Systems

2.4   Market Drivers

2.4.1   Land-use Benefits

2.4.1.1   FSPV

2.4.1.2   OFW

2.4.2   Impact of Floating Systems on Water Bodies

2.4.2.1   FSPV

2.4.3   Increased Energy Output

2.4.3.1   FSPV

2.4.3.2   OFW

2.4.4   Technology Benefits

2.4.4.1   FSPV

2.4.4.2   OFW

2.5   Market Barriers

2.5.1   Technology Challenges

2.5.1.1   FSPV

2.5.1.2   OFW

2.5.2   Operation and Maintenance

2.5.2.1   FSPV

2.5.2.2   OFW

2.5.3   High Capital Investment

2.5.3.1   FSPV

2.5.3.2   OFW

2.6   Summary

3. Market Forecasts

3.1   Methodology

3.2   Global Market Overview

3.2.1   North America

3.2.2   Europe

3.2.3   Asia Pacific

3.2.4   Latin America

3.2.5   Middle East & Africa

4. Conclusions and Recommendations

4.1   The Need for Regulatory Guidelines

4.2   Need for Incentives

4.3   The Role of Green Hydrogen

4.4   O&G Partnerships

5. Acronym and Abbreviation List

6. Table of Contents

7. Table of Charts and Figures

8. Scope of Study, Sources and Methodology, Notes

  • Floating Power Plant Capacity and Revenue by Technology, World Markets: 2022-2031
  • Floating Solar Power Plant Capacity and Revenue by Region, World Markets: 2022-2031
  • Floating Wind Power Plant Capacity and Revenue by Region, World Market: 2022-2031
  • Floating Power Plant Capacity and Revenue by Technology, Europe: 2022-2031
  • Floating Power Plant Capacity and Revenue by Technology, Asia Pacific: 2022-2031
  • Floating Power Plant Capacity and Revenue by Technology, Latin America: 2022-2031
  • Floating Power Plant Capacity and Revenue by Technology, Middle East and Africa: 2022-2031
  • Floating Power Plant Capacity and Revenue by Technology, Middle East and Africa: 2022-2031
  • FPP
  • Schematic of Spar-buoy, Semi-submersible, and Tension Leg OFW Platforms
  • Taut-leg, Catenary, and Semi-taut Mooring Systems
  • Floating Power Plant Capacity by Technology, World Markets: 2022-2031
  • Floating Power Plant Revenue by Technology, World Markets: 2022-2031
  • Floating Solar Plant Capacity by Region, World Markets: 2022-2031
  • Floating Solar Plant Revenue by Region, World Markets: 2022-2031
  • Floating Wind Plant Capacity by Region, World Markets: 2022-2031
  • Floating Wind Plant Revenue by Region, World Markets: 2022-2031
  • Floating Power Plant Capacity by Technology, North America: 2022-2031
  • Floating Power Plant Revenue by Technology, North America: 2022-2031
  • Floating Power Plant Capacity by Technology, Europe: 2022-2031
  • Floating Power Plant Revenue by Technology, Europe: 2022-2031
  • Floating Power Plant Capacity by Technology, Asia Pacific: 2022-2031
  • Floating Power Plant Revenue by Technology, Asia Pacific: 2022-2031
  • Floating Power Plant Capacity by Technology, Latin America: 2022-2031
  • Floating Power Plant Revenue by Technology, Latin America: 2022-2031
  • Floating Power Plant Capacity by Technology, Middle East & Africa: 2022-2031
  • Floating Power Plant Revenue by Technology, Middle East & Africa: 2022-2031
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