According to market research firm Transparency Market Research (TMR), the global floating power plant market is estimated to grow at a CAGR of 6.5% in 2020-2030, and its market size will reach $565 billion by 2030.

This is due to a number of factors, including increased investment in the development of floating power plants, increased demand for clean energy, and the high efficiency and stability of floating power plants as distributed power sources, making them more and more popular among users.

Floating power station power can handle sharp load fluctuations and provide fast start-up. These plants are towable, suitable for seasonal and regular operation, and provide a stable grid for a variety of renewable energy sources.

Due to the large-scale demand for electricity in countries such as China, India, Singapore, and Malaysia, the installation of floating power plants is increasing in end-use industries, especially in the Asia-Pacific region. China dominated the floating power plant market in the Asia-Pacific region in 2019. The floating power station market in Europe is likely to expand further during the forecast period. In order to meet the growing demand for electricity, increased investment in renewable energy is a major factor driving the growth of floating power plants in the region.

At the same time, the implementation of stringent government environmental regulations is expected to facilitate the deployment of floating power plants in multiple end-use industries around the world. Solar, wind and wave energy are the three commonly used renewable energy sources in floating power plants.

In terms of platform material, many end-use industries are installing HDPE plastic floating platforms. These platforms are eco-friendly and pose no danger to aquatic animals. Advances like this have encouraged some manufacturers to sign up for new projects to build floating power plants in the mid-power range.

Major end-use industries, such as healthcare, manufacturing, chemicals, and construction and construction, are growing rapidly across the globe. This expansion of the end-use industry can be attributed to the increasing demand for clean energy, which in turn is propelling the floating power station market.