Floating Power Plant Market Size To Reach $3.24 Billion By 2030

Floating Power Plant Market Growth & Trends

The global floating power plant market size is expected to reach USD 3.24 billion by 2030, registering a CAGR of 14.3% from 2025 to 2030, according to a new report by Grand View Research, Inc. Favorable regulatory policies focusing on reducing the dependence on fossil fuels for electricity generation along with proliferating demand for stand-alone power generation systems across several end-use markets are anticipated to strengthen the market growth over the forecast period.

The market is primarily driven by the lack of power infrastructure on land in developing economies, such as China and India. Massive power demand from several industries, such as manufacturing and construction, healthcare, data centers, agriculture, and others, has led to increased demand for distributed power generation sources, such as floating power plants (FPPs). The plant provides grid stabilization for various kinds of renewable energy and is expected to strengthen the security of power systems in these countries.

Floating power plants offer several benefits including provision of secure power supply during natural disasters, such as floods or earthquakes, fast electricity supply to regions with limited power infrastructure, no requirement for a large site, and easy relocation due to high mobility. These advantages are expected to boost the FPP demand despite the high installation and maintenance costs of the plants.

Industry participants are practicing local manufacturing of floating power plant equipment to offer local employment, optimize logistics cost, and minimize emissions. Moreover, operators are prone to minimum project investment risk owing to the high mobility, versatility, and adaptability of the floating power plants. These trends are anticipated to positively influence industry growth over the forecast period.

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Floating Power Plant Market Report Highlights

• The non-renewable segment accounted for the largest revenue share of 69.6% in the global floating power plant industry in 2024. On the other hand, the renewable source segment is expected to grow at the highest CAGR in the market from 2025 to 2030

• The high (Greater than 100 MW) power rating segment accounted for a leading revenue share in the market in 2024 owing to the large-scale power demand in various South Asian nations such as India, China, Malaysia, and Singapore.

• The medium (20 MW to 100 MW) segment is expected to grow at the highest CAGR during the forecast period.

• The Asia Pacific floating power plant market accounted for the largest global revenue share of 40.7% in 2024. The industry expansion in this region has been enabled by a number of factors, including rising energy needs, environmental concerns, and technological advancements.

Floating Power Plant Market Segmentation

Grand View Research has segmented global floating power plant market report based on power source, power rating, and region:

Floating Power Plant Power Source Outlook (Revenue, USD Million, 2018 - 2030)

• Non-renewable

  • Gas Turbines

  • IC Engines

• Renewable

  • Solar

  • Wind

Floating Power Plant Power Rating Outlook (Revenue, USD Million, 2018 - 2030)

• Low (Less than 20 MW)

• Medium (20 MW to 100 MW)

• High (Greater than 100 MW)

Floating Power Plant Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Latin America

  • Brazil

  • Argentina

• MEA

  • Saudi Arabia

  • UAE

List of Key Players of Floating Power Plant Market

• Wärtsilä

• Siemens Energy

• Kawasaki Heavy Industries, Ltd.

• MITSUBISHI HEAVY INDUSTRIES, LTD.

• GE Vernova

• Ciel et Terre International, SAS

• Floating Power Plant A/S

• Karadeniz Holding

• CHN ENERGY Investment Group Co. LTD

• Swimsol